If you want to own your own business, a franchise is a great way to do exactly that. Franchising is one of the most common ways to quickly start your own business and grow your wealth. Compared to other entrepreneurial paths, it is easier and fulfills a lot of what most people are looking for when they are looking for a career. Here are the ten biggest reasons why it’s time to invest in a burger franchise:
1. It’s big business right now.
While many other industries are in decline, people will always have to eat and they will always want to be able to pick up fast, good food. This means that investing in a burger franchise is a great way to devote your money to an industry that is going to be around not just in a decade, but in a century, too. This is already a billion dollar industry and it is only going to continue to grow, which means you are very likely to make money.
2. There is relatively low risk.
More than half of all startup businesses fail within the first year. The statistics for burger franchises are much better. It’s difficult to start a business from scratch, but when you are starting a franchise, you are not actually starting from scratch. There is already a proven method provided to you and the brand itself provides support and even marketing to make sure that you get the customers you need to keep your business alive.
3. You have the power of the brand behind you.
Unlike starting a new business, where you have to publicize your brand and try to get people to pay attention to you, you will simply become a part of a much larger, well-established, well-known brand. This makes it extremely easy for your franchise to start making money. Customers already know who you are and when they see a new franchise of a brand they already love being built, they will be excited.
4. The franchise gives you a competitive edge.
In comparison to restaurants that stand alone and have owners who have to deal with ever bump in the road alone, you will have access to resources that can help you obtain everything from the advice that you need to a reminder about the reality of the business. While you are still an independent business owner, you have access to this huge network of resources that give you a huge advantage over owners who aren’t members of a franchise.
5. There are people available to help you.
When you invest in a burger franchise, you are not alone. You are completely responsible for your own business, but there are contacts within the bigger shell of the brand that are available to help you along every step of the way. Investing in a burger franchise is a great way to build an independent business, but with building mentors, field managers, and advisors that will help to ensure that you are headed in the right direction, whether you are trying to reduce costs or just sell more.
6. You have access to better financing options.
If you’ve ever tried to get a loan from a bank, you know how difficult it can be. But if you approach that bank with the understanding that you are going to be investing in a franchise, rather than simply trying to start your own business from scratch, you are much more likely to get through to that bank and to obtain the funding that you need in order to invest. Again, this goes back to buying into a brand that has stood the test of time and that is already successful. You are much more likely to be successful because the brand is already successful.
7. The ability to buy more.
Once you have invested in one successful franchise, it is much easier to invest in other franchise, either in the same brand or in another brand. The more time and effort you put into your franchise, the more buying power you have.
8. You have access to everything new the brand provides.
As the brand continues to develop and change, incorporating new technology, new innovations, and new research, you have access to all of that information. What this does, in the end, is make you much more successful. You get not only all the numbers from the research they do, but the ability to incorporate solutions that they develop for you into your business.
9. You are encouraged and even expected to expand.
Most brands do not expect that their franchisees will invest in a single franchise. Instead, they expect that most will want to own many separate locations, building both the brand and their own business at the same time. They often have networks in place to make it extremely easy to invest in another franchise once you already have one up and running and making money.
10. There are already rules and regulations in place.
Investing in a franchise means getting a fully packaged business, prepared and ready for you to start. This means that all of the regulations have already been considered and that there are already rules in place to make sure that your business runs as smoothly as possible. In short, all of the hard work has already been done for you and it clearly laid out what you can and cannot do, what your employees should do, and how to improve your business.