Buying a Franchise
Wouldn’t it be nice to transform yourself from a salary earner with an uncertain future into the owner of a successful business?
Being the owner of a franchise allows you to implement your own ideas and reap the resulting rewards. No boss to hinder you, or steal the credit away from you.
“But isn’t starting a business a risky proposition?” Anecdotal evidence suggests that out of every 100 independent start-ups, a mere 10 survive beyond year 10. The same anecdotal evidence tells us that out of 100 start-ups under franchise, 90 survive beyond year 10. This is not only impressive in itself, it also makes perfect sense. Simply put, a reputable franchise is based on a tried and tested business concept. Its originator has done all the groundwork, so there should be no nasty surprises. And if you join a brand with an established following, you should hit the ground running.
It is useful to remember that because of the way franchising is structured no franchisor can hope to achieve sustainable success unless the vast majority of the franchisees in the network are also successful. Sounds like a win-win situation if there ever was one, doesn’t it? Add to this the implications of the CPA which go a long way towards protecting franchisees’ interests and it is easy to see that investing in a franchise is now more attractive than ever before.