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Why Buy A Franchise?
The short answer is that franchise owners are historically far more successful than independent business owners. Here is the US Commerce Department's data.
 In their first year, only 62% of independent business start-ups survive. Compare this to a 97% success rate for franchise start-ups. However, the difference becomes more dramatic over time. After 10 years, only 18% of independent start-ups are still in business. Compare that to 90% of franchises that are still alive and well. The dismal chances of surviving your own start-up is a major factor in either Buying an Existing Business, or going with a proven Franchise.
Franchise organizations have many unique advantages over independents. These include:
When an employee is burnt-out with their position, being your own boss seems nothing short of perfection; however, it doesn't take very long before you realize that being on your own can be lonely and frustrating. Never underestimate the importance of the franchise community. It will be what keeps you going during the most difficult of periods. When discussing ownership possibilities with other franchise owners, be sure to get a feel for the community. If it's not there, avoid this one and move on. Further information on the franchise process is available in our presentation that can be downloaded from the left column of this page. As always, the process needs to start with you. We have an proven Franchise Qualification process to guide our recommendations for you in this area. You can request it by downloading and completing the Personal Franchise Qualification form. |
