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Franchise Blog

10 Reasons to Purchase a Franchise

  Frank Berger  |    Oct 19, 2009 5:07:57 AM  |    Founders Blog,  |    Franchise Opportunities

Do you need 10 Reasons to Purchase a Franchise? If so, Carrie Bach over at Entrepreneur.com has gone to the trouble to make a strong case for purchasing a franchise:

#1 - You are buying a proven formula. When you buy into a proven franchise concept, you avoid many of the major hurdles new startups face because the franchisor has already worked out the kinks and laid a solid foundation. A good franchisor will have everything systemized and ready for you--a business paint-by-numbers, if you will--from marketing and branding to site selection and approved vendors.

#2 - Larger franchise companies offer in-house lending or assistance attaining financing.

#3 - A franchise provides a built-in support system.

#4 - A franchise is more attractive to the SBA.

#5 -You can be your own boss. You call the shots, you manage the schedule, you run the show, but you also agreed to follow a formula put in place by the franchisor.

#6 - Some low-cost franchises have strong ROI.

#7 - In a down economy, the buy-in prices are lower. “Investing in a business in a down economy is like buying a BMW for the price of a Ford.”

#8 - Name recognition is what consumers look for, especially in a recession. Having instant access to a recognized brand provides a built-in security blanket, and during a recession consumers are more inclined to go with what they know. Now more than ever consumers want the safety and comfort of a familiar brand.

#9 - Baby boomers who can’t retire can be their own bosses and see solid returns on investment. It’s no secret many boomers took a devastating hit in the market. For some, retirement has been postponed, for others it has been inevitably canceled. That’s why so many once-hopeful retirees-to-be are looking to franchises as an opportunity for a new future, one that allows the flexibility of being your own boss and the support of a proven business that--let’s face it--can deliver better ROI than any 401(k). ?

#10 - The chance of success is much higher. Bottom line: A franchise is more likely to succeed than an independent startup, and the security of investing in a proven concept is worth its weight in gold.

 

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