When purchasing a franchise, franchisees are buying much more than product or service. They’re joining a network of professionals with extensive experience and expertise.
Especially for burgeoning entrepreneurs, joining the franchise community puts you far ahead of other startups and new businesses in the following ways:
Brand: National recognition & expert marketers
Buying into a successful brand gets you more than a well-known name to display on your front door. As a franchisee, you’ll benefit from:
- Insights and strategy from the franchise’s marketing team
- Pooled franchise marketing funds, which are used to build the franchise’s brand
- National advertising campaigns to increase awareness of and favorability for the business
Marketing isn’t the only area where you’ll benefit from being part of a franchise. Working with other franchise owners allows you to:
- Use your combined purchasing power to leverage discounts from vendors, so you don't have to negotiate contracts individually
- Learn from others’ best practices that maximize profits, instead of learning from your own mistakes
- Pool and share data to see what ideas are most effective, rather than using your own, limited data
- Seek help with problems from others familiar with your business without hiring an expensive consultant
- Train and attend conferences together, which you might not have access to on your own