Ever thought about your own start-up and wondered ‘Should I franchise my business?” It’s definitely worth considering. Franchising is a huge world and constantly evolving, and research shows that franchise owners have a better chance of building a successful business than going it alone. Here are some of the biggest misconceptions that persist, and it’s time to debunk them all.
Franchising Is Expensive
Not any more. Franchising once used to be centred around big-ticket business investments like a McDonald’s outlet, but today you can buy a franchise business for just a few hundred pounds or even less for a small part-time start-up.
Franchising Is Corporate
Again, not so. Franchising is increasingly a non-corporate world where suits and jargon aren’t remotely required. Anyone can invest in a franchise, and many more people are growing their business by turning it into a franchise. Searches for franchise my business are growing as entrepreneurs realise the model is a great way to achieve scale without huge investment.
Franchising Is Just for Fast Food and Retail
Again, not the case. There are thousands of different franchises available at any one time with businesses that vary from online assistants to pet grooming services. There really is something for everyone to consider.
You Need a Lot of Experience to Run a Franchise
This isn’t always the case. Certainly some franchises in professional services or big-ticket businesses need to have the necessary skills and experience to succeed. But many franchisors just want people who are willing to learn and who have the right interpersonal skills for success.
