Franchising Is The Future: 4 Reasons To Buy A Franchise in 2020
In one of the most politically tumultuous climates of recent history, the commercial world has been struggling to keep up with all the changing legislation, economic implications and manifesto pledges.
Franchising, on the other hand, has stood strong – gradually and sustainably recruiting candidates across industries. The tried-and-tested model has proved favourable with banks and entrepreneurs alike, demonstrating that British business now has a new face.
Here, we’re discussing why 2020 is the year to join the franchising ranks.
1. Proven methodology
Franchises are proven. Sure, just like any other business, you aren’t guaranteed to make a profit, but you do have evidence of what has worked previously. Combine this with guidance on how to replicate the same thing in your own territory, and you’re likelier to achieve similar levels of success.
Banks will even take this into account when it comes to your loan. If you require their support to secure a buy-in for your franchise business, you may find yourself being offered a more favourable rate than a startup.
2. Pathways to success
By following in the footsteps of other franchisees, you can pick out a selection of different strategies which worked for your peers and choose one that suits you. Alternatively, you can try your own methods, applying any prior experience you’ve had with advice from your franchisor.
93% of franchisees claimed profitability in 2018, across all sectors. This is a testament to how successful a systematic approach is to business growth.
3. Wealth of resources
If you instead decide on building your franchise business in your own image, you can always rely on an extensive supply of previous marketing campaigns. Any good franchisor will have a record of high-performers and low-performers – otherwise they are sure to repeat mistakes.
In addition, a quality franchisor will have a marketing department in HQ who are able to help you stand out while remaining entirely within the branding of the franchise. So, be sure to enquire about it at your discovery session and in the early stages of franchise recruitment.
4. An escape from the rat race
Last but not least, franchising provides autonomy. Sure, employment has its perks, but we’d all like to choose our own hours and clients. No longer will you be bound to the 9-5. Instead, you’ll have the freedom to build something with an extensive support network acting as its foundations.
Entrepreneurs have never had such a straightforward route to financial success, which is why franchising as an industry has grown year upon year. 2020 will be no exception, demonstrating that would-be small business owners are preferring the security of a franchise model over the instability of their own enterprise.
At Rainbow, we don’t just offer security. Your success is more than of mutual benefit to us, it is evidence that our methodology is peerless in the specialist cleaning and restoration trade. So we do our utmost to secure that success, offering an in-house marketing team to help you get established and a complete set of resources should you hope to grow your own franchise business further.
Want to work with us? Get in touch with the onboarding team today and we’ll walk you through what it takes to be a Rainbow franchisee.