Investing in a franchise is a life-changing experience. You get the benefit of a fully operational business with a network of established clients right from day zero. However, for you to ensure that you get the best sub franchise deal, you need to do your due diligence before signing on the dotted line of the agreement. With a properly designed and executed sub franchise system, you can expand with a lot of ease. Investing in a franchise is a gamechanger for the following reasons:
The Opportunity of a Turnkey Business
The majority of entrepreneurs are highly skilled in running existing businesses, but the expertise to get a business up and running is usually lacking. Obtaining financing and negotiating lease terms is not an easy job and many entrepreneurs abandon their ambitions at this point.
When you own a Quiznos franchise, you are buying into a well-designed and oiled system which means half of the hard work is eliminated. You will not need to choose a territory, negotiate a lease, find a location, find contractors who are reliable enough to complete a build-out on time and establish vendor relationships. In addition, you will be starting a business that has trained staff already in place.
Investing in a sub franchise is essentially buying into a system of doing business. Franchises come complete with an established network which the sub franchisee has to follow to distribute the products or services using the already available trade or service marks. The beauty of having a proven system is that it eliminates much of the guesswork and errors ordinary business owners face.
Brand Awareness and Corporate Image
Buying into a franchise system gives you the benefit of an already established brand and corporate image. A majority of customers tend to be very comfortable purchasing items they are familiar with or engaging companies they have prior knowledge of and trust. In the mind of the consumer, a franchiser’s brand is equal to the company’s reputation. Since franchisers want their customers to enjoy the maximum possible satisfaction each time they shop at any franchise location, your primary job will be to deliver on that brand promise.
The Likelihood of Success
You cannot compare buying a franchise with starting a mom and pop business. The benefit of the established system, the reliability of the brand and quality of products enhances your chances of success. As long as the sub franchise you are investing in has a proven opportunity and you faithfully follow the system put in place by your franchiser, there is no reason why your business should not succeed.
Ease in Obtaining Financing
Business lenders the world over tend to be comfortable financing a franchise because of the underlying proven track record. Franchises often have a lower risk of repayment default, and for this reason, any loan application is quickly approved and processed. You may be lucky to buy into a franchise system that has an in-house financing model or leasing option in place.
Other benefits that make investing in a sub franchise such a lucrative idea include the ongoing support, exclusive territory management, and the fact that you can own a franchise in multiple locations.