Many of the risk factors and start-up problems associated with stand-alone businesses are reduced or virtually eliminated with franchise ownership. This is due primarily to the following factors:
- Marketing for franchises is frequently supported by brand name advertising and back office support such as call centres and mentors.
- Franchises use tested and proven systems that create stability, reliability, duplicatable training, and the opportunity for wealth creation.
- The franchise owner never has to “go it alone,” because there is a community of other franchise owners and on-going support from the franchisor.
These are only a few of the factors why over 8 million people are employed by franchises and franchises are a favoured investment by many seasoned business people.
Here are some interesting facts about franchises:
- There are over 757,055 franchised establishments which is roughly 2% of the total businesses in North America.
- That 2% produces a staggering $802 billion in output every year.
Franchised establishments employ over 8.2 million people each year creating, on average, 11 jobs per franchise establishment.
Franchises are businesses that are proven to be successful.
Savvy franchise owners often view their franchise as an asset. Depending on how you staff and run your franchise, you can be the manager, or you can be semi-passive and hire a manager and let the franchise make money for you without the responsibilities of day-to-day operations.
There are many reasons people get into franchising, but if the franchise didn’t make money, they wouldn’t stay very long. As the figures show, franchises are a very important part of our economy.
Now that you know a little more about franchising and franchise brokers, let’s talk.
To take the next step, send me an email at [email protected] or call 647.991.2282.
Let’s start to explore franchising to see how good a fit this really is for you