Reasons Why Franchising Could Help Your Business Expand

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster... 

Many successful business owners hit a certain point where they need to expand their business. A business that can’t grow runs the risk of imploding.

Franchising is another option which can be very cost effective and successful. Here are some reasons why franchising your business could be a good choice for expansion.

Reduced capital costs. When you franchise, you don’t have to pay for the cost of new locations and setting up your new stores. Instead, these costs are covered by the franchisee when they join the franchised network.

High returns for minimal risk. Because you have not had to risk as much of your own money, you’ve got less to lose if things go wrong. As long as your business model is sound and your franchisees work hard, you have the potential to make high royalties and big profits, in some cases more than if you were running the outlets by yourself.

Faster market dominance. Having multiple outlets for your business means that you have a greater market presence and customers will more readily become familiar with your brand name. This in turn helps you become more recognisable and gives you the edge over your competitors.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article here and share your thoughts with me afterwards: call (0405) 107 605 or email me at [email protected] .

Cheers,

Damien