Answers to Common Questions About Owning a Franchise BusinessWhy should I consider investing in a franchise business?
Many national franchise brands have substantial purchasing power, which can translate into discounts and rebates for the products and services franchisees need to run their business. Another benefit is our global network, Dwyer Group® brands have more than 2,700 service franchises around the world. This allows franchisees to share their expertise and access potential cross-marketing opportunities.
How do most people finance their franchise business?
For many, opening a franchise business is an appealing opportunity. One thing you will have to consider is the startup cost. Each individual will have to judge the method that best suits their situation after evaluating their assets and liabilities, but some available options include conventional lenders, SBA-backed loans, or tapping into a retirement account.
What are some advantages franchising has over opening an independent business?
While many entrepreneurs opt for startup businesses because they believe it will offer more freedom, opening a franchise business can actually offer similar freedom to owning an independent business while adding the support of a time-tested brand. With franchising, business owners get access to established marketing systems, ongoing training and support, and brand awareness. Independent business owners, on the other hand, have to build their brands and systems from the ground up.