The better alternative to starting your own business
Starting a business can be really tough for many reasons. The setup costs are high; market demand of your products; economic conditions and general market conditions are just a few challenges that entrepreneurs face. Statistics show that more than half the number of businesses that start, fail within the first 12 months and even more within 5 years.
If you have the entrepreneurial drive, and want to have your own business without starting from scratch, then owning a franchise is a great alternative.
Benefits of a Franchise
- Lower Cost for setup – It may cost less to buy a franchise than start your own business of the same type. Costs such as setting up websites and systems to run the business can be lower than starting your own business. Additionally, gaining finance to purchase a franchise is easier than obtaining a loan for starting a business due to the risk.
- Model – when you buy a franchise, you get a model that already works on every level including pricing. The testing of the product and hard work has already been done for you.
- Marketing – The head of the franchise, Franchisors, have already invested in creating a brand and spending money on logos, marketing material and websites. Most franchisors will conduct marketing activities to promote the brand in order to drive customers and support Franchisees.
- Support – unlike running your own business where you have to invest in getting support, Franchisors provides the support you need in all areas from business operations, understanding your numbers to getting moral support. You also get to interact with other franchisees and be able to learn from each other.
- Flexibility – Running your own Franchise gives you the flexibility with all the benefits of running your business in terms of lifestyle. You can take time off when you want, be more in control with your activities and have the freedom you want
Starting a Franchise
A franchise is a great way to be an entrepreneur with lower risk than starting your own business while giving you the time and freedom you want.
If you are considering a franchise and have experience in the finance field, then contact FIFO Capital Ireland. We can opportunities to start your own franchisee business with all the support you need.