There are more than 4,000 franchise brands available throughout the United States. In 2018, there were around 758,000 franchise establishments with almost 7.88 million employees. When starting a business, many entrepreneurs choose to own a franchise because they believe they are guaranteed to succeed. However, this isn’t always the case.
Before you decide to invest in a franchise, there are a few things you should know about this business. This way, you can be sure it’s the right decision for you.
What is a Franchise?
A franchise is a chance to invest in an existing, successful business model with a proven track record. In addition, you have access to a training program, supply chain, and tech support. Some of the best ones have high rates of success and a low risk of failure.
If you’re thinking about investing in a franchise, it’s important to know the advantages and disadvantages.
Advantages of Owning a Franchise
There are several advantages to owning a franchise. They are as follows:
• Low risk of failure
• Lots of assistance/support
• Collective buying power
• Brand awareness
Disadvantages of Owning a Franchise
Of course, if you’re considering owning a franchise, it’s also important to look at the disadvantages. They are as follows:
• Steady expenses
• Continuous support (some offer support, some don’t)
Are You Interested in Owning a Franchise?
If you’re interested in owning a franchise, it is important to take time to investigate the opportunity fully. If you feel like you’re ready to take that leap, contact Jasema Capital. We will be more than happy to guide you through this process, helping you get started on your journey to being a franchise owner.