Learn why the franchise industry is one of the most exciting industries to be a part of today, and how you can seize the opportunities and build your own path.
Having been in the franchise industry for over 35 years, I have seen and been a part of some amazing success stories of both franchisors and franchisees. The franchise industry holds endless possibilities, where you’re not only running a business, but also a part of something exciting and innovative.
Benefits of Buying into a Franchise
Now is the perfect time for aspiring entrepreneurs to jump in and capitalize on these chances to succeed through investing in a franchise. If you have thought about being your own boss and setting your own path, while taking advantage of a flourishing industry, you’re in the right place.
Becoming a franchisee allows you to go into business for yourself, but not by yourself. Franchise brands are built on proven business models. In other words, you’re not beginning from scratch, which reduces the risks associated with entrepreneurship.
When joining a franchise, you receive ongoing training and support. Franchisees have the chance to thrive even without prior business expertise since franchisors provide comprehensive training, continuing assistance, and access to resources. Your ultimate success is still determined by your role and actions as a business owner. It requires hard work and dedication but is very exciting and can be rewarding.
The franchise business model offers a sense of stability in the midst of the current economic environment. The Covid-19 pandemic proved established franchise models provide stability in a unpredictable market.
Many people are looking for the right business that allows them to have a better work-life balance. Owning a franchise is a big commitment but offers you the potential for a more flexible schedule. Options include hands on ownership, semi-absentee, or even absentee franchise opportunities. Investing in a franchise offers more flexibility than ever before, including home-based and mobile franchises that adapt to changing work environments.
Benefits of Expanding Your Business Through Franchising
If, on the other hand, you currently own a small business and want to grow, now is a perfect time to consider the franchise model to scale your company. Franchising is one of the fastest ways to expand your organization’s footprint and brand.
If your business coincides with current trends and has shown growth over the last few years, it may be beneficial to capitalize now. Expand your established brand to present a repeatable business model to potential franchisees.
In today’s business environment, franchising offers entrepreneurs an unprecedented opportunity. If your company has established its worth, developed into a scalable and replicable strategy, and achieved local recognition, now is a great time to become a franchise brand.
Franchising is more than just expanding your business to generate more money; it is also about maximizing your company’s potential. This model creates options for new business owners while following your brands core values and standards.
You are in the driver seat of your adventure in franchising. Whether you are an aspiring entrepreneur or a small business owner, the franchise industry is full of more possibilities than ever. It is an ongoing journey of excitement, where both the franchisees and the franchisors are set up for success.
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I am Steve Beagelman, Founder and CEO of SMB Franchise Advisors. In 1991 I co-founded Black Tie Express, a multi-restaurant delivery service. Since then, I’ve held executive positions with Hollywood Tans, Saladworks, Rita’s Italian Ice, Restaurant Systems International and Takeout Taxi, giving me a unique insight and perspective in launching, operating, and building brands. In 2009, I established SMB Franchise Advisors, supporting franchise start-ups and brands seeking ways to drive business growth. As of 2020, my team and I have assisted nearly 300 companies launch and develop their concepts into franchising. I am a regular guest speaker at franchise conferences, offer insight as source and author for franchise industry publications and was a contributor to the franchise book, “So You Want to Franchise Your Business”. I received my CFE (Certified Franchise Executive) from the International Franchise Association and hold a BA from Pace University, specializing in Business Management.