When planning new ventures, you need to decide whether this new business should be a franchise or not. Well, major entrepreneurs have analysed the franchise opportunity and have recognised the following excellent characteristics of any franchise opportunity:

1.Firstly, with a franchise, a lot of the headaches have been worked out for you. This includes the menu, kitchen, equipment, the approach, employee attire, design and layout as well as how the franchise business is run. All you have to do is run the franchise and make sure things run smoothly in order for it to succeed. According to the International Franchise Association (IFA), one of the biggest draws for entrepreneurs is that all the details are taken care of by the franchise.

2. You receive a recognized brand and the marketing muscle behind that. Therefore, you don’t need to still get your brand known amongst people and get the word out there. It’s all done already for you.

3. You receive a support system. So, when things are going wrong and you can’t figure out why, there is always a field manager, helpline or some other form of support system to provide you with assistance whenever you require it.

4.According to experts, another major draw to franchising is that franchisees have access to group experience and resources. Other franchisees are always willing to provide help and advice.

5. Franchisors continue perfecting the franchise system and business while you continue to run your franchise. Franchisees do not have the time to think about how to make the franchise business better. The franchisors do all that.

All these advantages give a franchisee a better chance for success in the market and business world.

However, franchising is not for everyone and all potential franchisees should weigh up the pros and cons of franchising in order to make the best decision.

Source: brandEXPANSION Hot Press
Written on October 19th, 2009 by Joseph in Franchise Industry