Though there are a variety of nuances when buying into a franchise, it ultimately boils down to buying your way into a strong system and a proven brand. Having the backing and stability provided by a time-tested system is an invaluable asset on your franchising journey.
When it comes to evaluating your franchising system options, a franchise consultant can be another piece in the larger puzzle of franchising success. Careyann Golliver, an independent FranChoice consultant can provide a thorough assessment of the franchising systems that you’re considering.
The strength of the particular franchising system is also important. While the franchising model lends itself to purchasing a business that already has a sellable track record, some systems are stronger than others. A franchise system with a proven training model, pre-opening support, and proven operations model will likely be one that will also lead you to success.
Strength of the Franchising Model
The overall franchising business model is inherently a strong method of approaching business ownership. Studies have shown that non-franchised small businesses have a five-year failure rate of 80% nationwide. Franchises on the other hand have a failure rate of only 8% after five years. That’s an incredible statistic! In other words, you’re almost five times more likely to be successful if you choose a franchised business model for your business than if you try to go it alone. Not to mention, your network of fellow franchisees will give you the knowledge of their combined years of experience, making you a seasoned pro before your doors even open to the public.
Franchising consultants can often make the difference between understanding with total clarity what you’re buying in to and not being confident in your decision making. Careyann Golliver is enthusiastic, thorough, and has more than 10 years of experience in the franchising market. Visit Careyann’s site at www.franchise-logic.com or call 720.542.3548.