THINKING ABOUT BUYING A FRANCHISE?

When starting your own business, buying a franchise is statistically much less risky than going it alone. Even so, you still need to take precautions to ensure that:

• You're suited to being a franchisee
• You find the right kind of business for you
• The franchise system is a good one
• The franchisor has a successful track record
• You'll be able to build a good working relationship with the people involved
• You can raise sufficient capital to fund the business
• The business is suited to the area you have in mind

The Advantages of Buying a Franchise

• An established, properly constructed and ethically run franchise is a proven business that's been run successfully by the franchisor in the same form that it's offered as a franchise. The franchisor has developed, tested and de-bugged the business model, identified and solved all the major problems and acquired the essential know-how for running the business. Franchisees benefit from this experience and know-how in the form of training and ongoing support in all the key areas of the business.
• A successful franchisor will have developed marketing and business generation skills and may carry out national/regional advertising campaigns on franchisees' behalf, to the benefit of the brand and the entire franchise network.
• As part of a larger network or 'family', franchisees benefit from greater brand awareness and customer confidence.
• A good franchisor has a vested interest in the franchisees' success and will constantly work on the franchisees' behalf to improve all aspects of the business - products and services, operations procedures marketing methods, administration and accounting systems, etc. 
• It's a well-worn phrase but as a franchisee you're in business "for yourself but not by yourself".

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