Top 7 reasons
why you should consider a franchise
As the business world evolves, more and more people are looking to take back control of their destiny by starting their own business, and franchising is a popular way of achieving this.
With a fit20 franchise you’ll have a higher success rate, easier access to financing, and a supportive community.
With a fit20 franchise you’ll have a higher success rate, easier access to financing, and a supportive community.
With more than 900 franchised brands operating in the UK alone, the benefits of owning a franchise are becoming increasingly apparent. In this article, we will discuss the top 7 reasons why you should consider a franchise as your path to entrepreneurship.
1. Established Brand Recognition
When you purchase a franchise, you’re buying into an established brand name that your customers know and trust. People are hesitant to try new places, so businesses with recognisable names have an easier time convincing people to buy their products or services. This brand recognition can be invaluable when it comes to attracting customers, and the online presence of many franchises makes it even easier for consumers to find you.
When you purchase a franchise, you’re buying into an established brand name that your customers know and trust. People are hesitant to try new places, so businesses with recognisable names have an easier time convincing people to buy their products or services. This brand recognition can be invaluable when it comes to attracting customers, and the online presence of many franchises makes it even easier for consumers to find you.
2. Proven Business Model
Every franchise has proven its ability to make money over time, so when you buy into it, you’re buying into an existing business with an established customer base and process for delivering products or services at a profit. As such, you can expect that your odds of success are much higher than they would be if you started your own business from scratch.
Every franchise has proven its ability to make money over time, so when you buy into it, you’re buying into an existing business with an established customer base and process for delivering products or services at a profit. As such, you can expect that your odds of success are much higher than they would be if you started your own business from scratch.
3. Training and Support
One of the biggest advantages of buying a franchise is the amount of training and support you will receive. Many franchises offer initial and ongoing training to help ensure that their franchisees are successful. They also provide support in areas such as marketing, operations, and finance. This support can be invaluable, particularly for new entrepreneurs who are just starting out.
One of the biggest advantages of buying a franchise is the amount of training and support you will receive. Many franchises offer initial and ongoing training to help ensure that their franchisees are successful. They also provide support in areas such as marketing, operations, and finance. This support can be invaluable, particularly for new entrepreneurs who are just starting out.
4. Lower Failure Rate
In contrast to independent businesses, franchises have a much lower failure rate. According to the British Franchise Association (BFA), over 90% of franchises are still operating after five years, while only 15% of independent businesses make it that far. This means you’re more likely to succeed with a franchise as your business partner and more likely to grow over time.
In contrast to independent businesses, franchises have a much lower failure rate. According to the British Franchise Association (BFA), over 90% of franchises are still operating after five years, while only 15% of independent businesses make it that far. This means you’re more likely to succeed with a franchise as your business partner and more likely to grow over time.
5. Established Marketing Programs
When you buy a franchise, your new business is already part of an established brand. The company you’re buying into has done some of your marketing for you. They have a logo, advertising campaigns, signage, and more. For most people starting their own franchise business, that’s all they need to get off and running. However, some franchisors offer additional marketing support to help their franchisees attract more customers.
When you buy a franchise, your new business is already part of an established brand. The company you’re buying into has done some of your marketing for you. They have a logo, advertising campaigns, signage, and more. For most people starting their own franchise business, that’s all they need to get off and running. However, some franchisors offer additional marketing support to help their franchisees attract more customers.
6. Credibility with Banks and Investors
Financing a business can be difficult, especially for new entrepreneurs. However, when you buy a franchise, you may have an easier time securing financing from banks and lenders. This is because franchises have a proven track record of success and a lower risk profile than independent businesses, making them more attractive to lenders.
Financing a business can be difficult, especially for new entrepreneurs. However, when you buy a franchise, you may have an easier time securing financing from banks and lenders. This is because franchises have a proven track record of success and a lower risk profile than independent businesses, making them more attractive to lenders.
7. Supportive Community
You are in business for yourself, but not by yourself. When you become a franchisee, you become part of a larger community of like-minded business owners who can offer support and advice. This can be invaluable, particularly for new entrepreneurs who may feel isolated or unsure about how to handle certain challenges. The franchisor may also provide opportunities for franchisees to network and collaborate with each other, which can lead to new business opportunities and partnerships.
You are in business for yourself, but not by yourself. When you become a franchisee, you become part of a larger community of like-minded business owners who can offer support and advice. This can be invaluable, particularly for new entrepreneurs who may feel isolated or unsure about how to handle certain challenges. The franchisor may also provide opportunities for franchisees to network and collaborate with each other, which can lead to new business opportunities and partnerships.
In conclusion, buying a franchise can be an excellent way to start a business. You’ll have the advantage of an established brand name, a proven business model, training and support, and an established marketing programme. You’ll also have a higher success rate, easier access to financing, and a supportive community. If you’re considering starting a business, it’s definitely worth exploring the world of franchising.
As a leader in the personal training industry, fit20 offers a unique and innovative business model that is both profitable and fulfilling. If you are wondering about the fit20 training method, wonder no more, get booked in for a free trial and add strength into your life.
16 March 2023
