Do you ever wonder about a career change but aren't sure what direction to take? Perhaps you’d love to own a small business and become an entrepreneur, but maybe you're not sure if you can afford the risk? The franchise model might be the solution! It combines part-ownership with a lowering of uncertainty and lower financial overhead. Here are a few advantages of the franchise model to consider from the franchisee perspective. Established business model Many of the hiccups in opening a new business will already have been worked out, so there is less risk involved. Part of the advantage of a franchise is that it’s a proven and well-developed business model. As a franchisee, there are specific procedures in place to help with opening a new franchise. The franchisor has a tried and true method that has been fine-tuned with each franchise that opens, so you will have all the previous knowledge and experience to draw upon when starting your franchise. Training and Support from Headquarters You don't need to have prior experience to run a franchise. The company will provide ongoing training and support including annual conferences, associations, and a network of other franchisees for help and support along the way. Do your research and ask questions in the search phase about the kind of support your franchisor provides. Brand recognition Attempting to start a completely new business from scratch is very difficult. Around half of all small businesses do not survive past the first five years. Imagine running a business with immediate brand recognition, right from the word “go.” It is so much easier to then focus on quality service, excellent staffing, and all the other aspects of the business to increase sales. The franchise will already have a built-in customer base with this brand recognition. Shared costs When joining a franchise team, there will be shared resources available from headquarters for all franchisees. The bulk of these shared costs are in the area of marketing and media. The franchise has the advantage of a nationwide media campaign for its local market. Packaging, promotions, and merchandise decisions are already made for the business as well. Do you think you’re ready to bite the bullet and change career direction? A franchise broker can help you reach your goals and give you the tools to help you succeed. Once you’ve decided to take on a franchise, the question becomes, which one? Here at FranchiseMaven we can answer your questions and help you develop a strategy to obtaining the franchise that fits your needs. Contact us today to schedule a consultation.