The Top 4 Reasons for Choosing a Franchise Instead of Going Solo
If you’re reading this, then you’re taking the first steps in following your dream of being your own boss. Congratulations! You’re serious about:
- taking control of your future,
- increasing your income,
- getting your time back,
- creating job and financial security, and
- getting rewarded for your hard work.
But starting your own business isn’t easy. There’s so much to do! It’s not just about doing the work; before that you have to set yourself goals. You have to buy your equipment, choose a business name, design your logo and set up your website and social media before you can even start to try and get some work!
It’s not easy; business is hard. No one is trained to run their own business. At times it can be a lonely experience without any help or team around you. This is where a franchise can help.
Why is a franchise potentially a better option for first-time business owners?
A franchise offers a viable and attractive alternative for the first-time business owner. A franchise already has established processes and well-established brand and marketing appeal, and provides a way to enter the business world without carrying as much risk as a business start-up.
While there are varying statistics – it is commonly accepted that franchises are more successful than starting an independent small business . About 80% of franchises are successful, compared to ~40% of new small business. And while these stats vary depending on the source you are looking at, there is no doubt that they are more likely to succeed.
Below, we look at the top 4 reasons why we think choosing a franchise is better than going sol0.
Access to Expert Marketing Support
Starting a franchise means you hit the ground running. You are setting up a business that has an established brand, reputation and product. This is crucial when it comes to marketing and advertising support. You don’t need to educate your potential customers on what you do, because they are already familiar with the product or service.
Brand recognition is a critical and essential reason as to why franchises perform better than independent businesses – it’s the “critical mass” effect that can’t be replicated by a stand-alone business.
Buying into a franchise means you will be able to leverage the following:
- An online presence that has already been built and developed (which can run into thousands of dollars when starting from scratch). It also means that there is well-developed traffic to the website for potential customers to find you.
- Well-established and proven marketing strategies that are already in place, which means you don’t have to spend time and money figuring out what works – the hard work has been done for you, and you can leverage the expertise of the franchisor.
- The website and marketing strategy that has already been established, so new customers and leads are already in the pipeline. Creating a constant stream of new customers from scratch is time-consuming and can be expensive, but having this process already set up means you will hit the ground running.
- The sales process has already been established. Setting up a sales process can be laborious as you work through setting up systems, IT infrastructure and sales pipelines. It is a trial and error process. Buying into a franchise means this hard work has been done for you and the sales systems and IT is already set up.
With all this in mind, by buying a franchise you can get started a lot quicker and without the cost and time associated with having to do this all yourself.
You Get Access to Proven Systems and Processes
One of the best features about buying into a franchise business is that you’re getting access to proven systems and processes. What works has already been figured out. Policies and procedures are already in place, and you can simply take the best of what is working and apply it straight away.
The time and effort it takes to create a proven system can take some businesses years to master. If this is your first entry into the business world – learning what works from those who know can be a significant step forward in your entrepreneurial journey. It means you get a “leg up” compared to those trying to do it on their own. It is what smart business people do all over the world – look at what works and replicate it for themselves.
You Are Provided with Comprehensive, Ongoing Training and Support
One of the best aspects of a franchise system is access to your own dedicated coach. The cost of a business coach can be upwards of $300 to $400 per session. With a James’ Home Services franchise, for example, you have access to coaches and business mentors to help you with any aspect of running your new business. They regularly check in with you to see how things are going and are a sounding board to help you stay on track. Best of all, they understand the business, the clientele and the systems.
Having the opportunity to meet regularly with a business mentor helps you to stay on track and navigate you through the first months (and years) of running your own business. Your dedicated business coach will help you:
- develop and refine your business strategy,
- map out the direction you want to take your business in, and
- assist you in setting your goals and targets.
A franchise system also provides ongoing access to training, which means you are kept up to date on the newest policies, procedures and processes, and in turn keeping you at the forefront of the industry. Best of all, when you’re within a franchise network, all this training is prepared for you and catered especially for the type of business you are operating.
You Are Part of a Team
Being part of a cohesive and supportive team is often the most critical element to success – whether it be a work team, sporting team or community team. They all have one thing in common – support, encouragement and a network that helps to drive success and growth.
Being part of a franchise system brings with it your ready-made support team. There are monthly get-togethers, for example, where you will meet with other franchise owners in your area to discuss business, build friendships and develop a local business community. These get-togethers are an integral part of our franchise system at James’ Home Services and provide our operators with invaluable tips and tricks that they share amongst other franchisees in their area.
Some of our franchisees have been doing this for years and have developed a firm understanding of how to grow a successful business. They are available to you, to help guide you on your journey – something that isn’t available if you go out on your own.
As you can see, there are some real benefits to the franchise system – you get to access some great support, training and networks, you get to be a part of great team, and you can hit the ground running with proven systems and marketing strategies.
James’ Home Services is a network of home service franchisees. We’ve been in the home services industry for over 25 years and have a team of hundreds of successful franchisees all over Australia.
If you’d like to find out more about starting your own James’ Home Services franchise, then either:
- click here to find out what support you get as a James’ Home Services franchisee, or
- click here or call 1800 152 637 to book a free discovery session with one of our experienced regional franchisors.