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ABCs of Franchising

For those of you looking to shortcut your way to entrepreneurial success, it may be a wakeup call to find out that you don’t have many choices. One option is buying an existing business, which can be quite a costly venture. Another is to build a business from ground up which may sound intimating to many. A third option however lingers between these two, which is in fact quite promising and far less intimidating- it is buying a franchise.

If I have your attention now, stay till the end to be tutored about the basics of buying a franchise in America. There are some things in there that you’d want to know before you proceed in this path.

Franchising has tons of benefits. Although they don’t fall on your lap just like that, but it’s a good place to start learning.

  • As a franchisee, you will entitled to some benefits, which through hard work, some luck and good decisions, can be all yours.
  • Reduced risk is the most obvious of them all.
  • You will be able to avail a turnkey operation system and sell standardized products and be a part of standardized accounting system.
  • You will have to have collective buying power and consultation and supervision support from your franchisor. 
  • Local, national and point-of-sale advertisements are all paid for by franchisors. Beyond that, you will need to do very little for advertising yourself. 
  • You will have site selection guidance from the parent company for free.
  • Financial assistance too is provided by some chains.
  • You will have access to the research and development wing of the brand you are a franchisee for.
  • The top companies send their franchisees operation manuals keeping them fully updated on the norms and changes in them.
  • Others offer marketing and sales assistance to franchisees. 

Browse through a franchise directory to garner more information about franchising in the US.

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