Why open a franchise business?
An ideal option for budding entrepreneurs
Going it alone and starting a business needs careful
planning and a clear strategy, as well as investment capital. And perhaps one
of the most challenging decisions for a budding entrepreneur is what type of
business to focus their energies on.
A franchise is a great option for anyone considering
starting out on their own, and it’s a business model that’s gaining popularity.
Research by the British
Franchise Association showed a 10% increase in franchise units in the UK
between 2015 and 2018. Millennials are well represented: 18% of franchisees are
under the age of 30 and at least 30% are women.
For franchisors, it has become an increasingly competitive
tool for promoting products and services through a tried-and-tested,
standardised formula. But why choose franchising to get your business off the
ground? Here are just some of the reasons you should consider it.
Advantages of franchising
By analysing the main indicators and emerging trends, it’s
clear that today franchising increasingly represents a driving force for
employment and a unique opportunity to start a new business with a strong
chance of success. It is an efficient distribution system, which offers small
business owners the chance to be competitive and thrive through economies of
scale that are usually only enjoyed by larger companies, and your customers have
the reassurance that they are buying from an established brand.
·
You become part of a system that has been tried and tested
·
You have a clear and detailed picture of the main business
risks in advance
Opening a franchise business offers countless advantages – the
main ones being:
·
A good reputation. Opening a
franchise is essentially equivalent to expanding the presence of a successful,
established business, following the formula popularised by the parent company.
Affiliating with a brand that is already known, and therefore appreciated by
consumers, means you’ll be able to enjoy a good corporate reputation right from
the start, with an already proven business system.
·
Simplified management. Affiliation
also involves simplified management of the business. You’ll benefit from
established systems and processes, receive constant support and advice, and you
can count on continuous training. Being part of a well-functioning system can
make a significant difference when it comes to getting your business off the
ground.
·
Reduced costs. Because
your brand is already established, you’ll have fewer advertising and
promotional costs, and your marketing spend will be more effective. You will
also benefit from savings on capital expenditure items, fixtures and fittings,
furniture and IT equipment, by taking advantage of the economies of scale
offered by the franchisor.
·
Low risk. By choosing a franchise, from the very
start you will already know the challenges and opportunities as tried and
tested by other franchisees before you. A clear and detailed picture of the
main business risks allows you to start the business with the right level of
awareness to tackle any issues that might arise.
·
Easy to access credit. With the
help and support of your franchisor, you’ll have easier access to credit and
the likelihood of better terms, to help you obtain the funds you’ll need to
start your business.
Franchising with Mail Boxes Etc.
Joining the MBE franchise network projects you into a dynamic
sector with huge potential.
By relying on a well-established brand that offers a unique
formula that allows you to be part of a network of 1700 service centres
worldwide, you will increase the chances of your new business project’s
success.
With a proven mix of logistics, shipping and communications
support services, Mail Boxes Etc. allows franchisees to optimise their personal
and working time and to benefit from the success of other entrepreneurs. Join
an internationally established network that offers you plenty of business tools
and a wide range of services that help consumers and businesses solve everyday
challenges.
Start your business with MBE.