After years of working for someone else, you realized you can’t make more money unless you work for yourself. So you decided to start your own business. The only problem is you aren’t sure what business to launch, and the thought of figuring out every last detail and waiting years to turn a profit makes you nervous.
Is a Franchise Opportunity The Right Way to Go?
As a result, you may have considered buying into a franchised business. But is buying into a franchise right for you?
Here are five ways to find out the answer.
1. You See Franchise Start-Up Fees as an Investment
With a start-up company, the cost of doing business is largely unknown. You may expect the costs to be low, but every time you think you’re done shelling out cash, another unexpected expense comes around the corner.
Franchises offer a definitive number when it comes to start-up costs. Before you sign on the dotted line, you should know how much it will cost out of pocket to buy into the franchise, do any site renovations to make your physical location ready for business, and get the equipment necessary to run the business.
Feel a certain franchise would be cost-prohibitive to open? No problem. Back out and move on before dropping a penny. On the flip side, when the cost gets too high with your own business idea, you’re already in the hole.
2. Your Time Matters
When starting a business from scratch, even the most modest time table can be optimistic. With so many unknown factors, moving forward can take weeks, months, or even years. Because a franchise is a prepackaged business, most of the hard work has already been done for you.
In essence, franchises are turnkey businesses. As quickly as you can build out your location and familiarize yourself with the franchise’s business model, you can open your doors and start making money.
On top of saving time opening the doors, franchises also save massive time on name recognition. Want to open a restaurant? Gas station? Exercise gym? A franchise gives you instant credibility. So with a franchise, you don’t have to spend your time educating people about your company. Instead, you can deal with bigger picture issues that really grow the business.
3. You Can Follow Systems
Having systems in place is one of the biggest benefits to buying a franchise. Whereas starting a company on your own means spending years of time and countless dollars determining best practices, all that comes with the cost of owning a franchise business.
However, certain personalities don’t do well with someone else’s systems. So before you leap into a franchise-franchisee relationship, take a hard look at your own preferences.
If you prefer to do everything your way and have a hard time following rules you find arbitrary, a franchise may not be a good choice. But if you accept that franchise rules are in place because they have been tested and proven to offer best practices and maximum profit, you’re a good candidate for buying a franchise.
Of course, the best franchises welcome suggestions and feedback from franchisees. They know that there is always room to improve, and some of the best ideas come from the field.
4. You’re Ready to Work
While franchised businesses offer immense benefit (research and development, name recognition, etc.), finding success with a franchise isn’t as easy as flipping the sign to OPEN. To ensure your franchise meets and exceeds sales goals month after month, you have to work. A lot.
With a small operation, you’re the head of every department, so you’ll be handling PR, HR, inventory, sales, and more. When a customer has a problem, you’ll be responsible. When an employee gets sick and can’t make it to work, you have to find someone to cover or do it yourself. And when a piece of equipment fails, you’re on the hook for replacing or fixing it.
This is a lot of responsibility, and franchises, like all businesses, require you to work hard to succeed. The difference is that with a good franchise, you’re never on your own.
5. You Want a Partner
Where can you get the best equipment? How can you improve your marketing? How can you lay out your facility to allow ease of movement? What should you look for when hiring employees?
Answering these questions isn’t easy on your own. With a franchise, they’re made much easier.
With a good franchise-franchisee relationship, you’ll know the answers to these and other questions before you ever agree to become a franchisee. And as you come up with other questions on your business journey, answers are just a phone call away!
With an independent, one-off business, you can burn up hours and days looking for the same information that is readily available to franchisees.
The Anti-Franchise Franchise Opportunity
If you’ve read this far, you’re probably wondering what to do now. You’re interested in getting your hands wet in the world of franchises, but you’re unsure which franchise to invest in. While there are countless franchise opportunities, one stands out for its unique focus on serving customers and treating franchisees how they want to be treated. That franchise? Fit Body Boot Camp.
Specializing in group exercise programs led by personal trainers, Fit Body Boot Camp (FBBC) doesn’t require potential franchisees to have fitness experience. But that’s not the only reason FBBC is the world’s fastest-growing fitness boot camp franchise company.
FBBC has low start-up costs that can be paid off with a few monthly payments, allows franchisees to purchase their own equipment if desired, has a flat royalty fee (so you pay the same amount regardless of how big your company gets), provides all online marketing at no extra cost, and is constantly improving services to help clients get fit and franchisees increase their profit.
The Best Gym Franchise Opportunity in 2020
To learn more about FBBC and to determine if you want to help the company meet its goal of improving the health and lives of 100 million people across the world, Visit https://fbbcinvest.com/ or call (888) 638-3222 today.
