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If you have entrepreneurial aspirations then you may have considered owning a franchise to boost your business credentials and get your career off to a flying start. After all, many budding entrepreneurs consider starting up their own business and opening a franchise when they first start out. Everyone has to start somewhere. Having said that though, there are many advantages and benefits to opening a franchise that go above and beyond those that starting a business from scratch can give you.

Franchise Vs. Starting A New Business

When it comes to the decision to open a franchise versus starting your own business, many people choose the latter. They like the idea of building their own business up from the ground and earning recognition on their own. However, they do not realize that you can earn just as much recognition when owning a franchise as well. In fact, the rewards far outweigh the benefits providing that you choose the right franchise to open.

If you would like to know exactly what benefits that owning a franchise can give you then please take a look at the list below. The eight points illustrated here will clearly define why opening a franchise should ultimately be your first choice:

1. A Recognized Brand And Relevant Trademarks – If you open a franchise then you will be doing so under a recognized brand name, thus establishing brand awareness right from the start. This will undoubtedly tempt people through the door because name recognition will attract new customers, which will in turn create a revenue stream for you. You will not have to establish the brand name yourself because that hard work is already done.

2. An Established Market Presence – An established market presence is crucial if you want a chance to make a profit from year one. If you open a franchise that is a market leader in its own right, then this will automatically benefit you because the business will be synonymous with a certain service and stay in customers’ minds.

3. A History In The Field – If you own a franchise within an established company, then you will also get the benefits of established processes and systems that have evolved over time. As such, you will get the full benefit of the experience of others and refined and efficient systems with few issues to iron out.

4. Comprehensive Training – If you start in business on your own then the likelihood is that you will have to learn as you go, meaning that you will probably make avoidable mistakes. However, opening a franchise after comprehensive training encompassing everything you need to know will enable you to avoid those mistakes and learn from those made by others instead.

5. A Higher Success Rate And Lower Risk – It is a well known fact that franchise businesses have a higher success rate and lower risk than their privately owned counterparts because franchises will often do everything they can to help nurture success. If you are out on your own then you do not get the benefit of that.

6. Pre-Established Supply Lines And Major Purchasing Power – As a part of a larger company, you will have access to suppliers that are reliable and trustworthy when you open a franchise. You will also have the purchasing power that comes with the brand name and company presence in the market. You get neither when you start out in business yourself because both take a long time to establish.

7. Lower Unforeseen Costs – Starting your own business can cost you thousands in unforeseen costs but when opening a franchise you know exactly how much you will have to put into it. This is a result of full fee disclosure.

8. Easier To Start Up – Many franchises want their franchisees to get into business quickly and will do everything they can to facilitate that. As such, you could own a franchise that is open for business within weeks instead of the months it will take should you open your own business.

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