The Pros & Cons of Franchising a Business
There are many items to consider when you look into franchising a business. This choice is a big step in furthering your individual career and expanding your reach into ownership. Whether you take the leap to build your own business or franchise an established one, you need to know what goes into the process. Understanding the pros and cons of making this decision will help you determine whether this is the right path for you and your professional career.
Pro 1: Franchises Come With Business Plans
Developing a plan for a business can be one of the toughest things to do. The company has done all the hard work for you, completed market research, and tested a business plan that works. This saves you the trouble of testing out different methods to see what works because everything is done for you. All you need to do is apply their system within your market to start your franchise.
Con 1: Start-Up Costs
Even though you are investing in a business and saving yourself the hassle of testing out your plan, there are start-up costs. The main franchise has completed all the work for you, but to use their business plan and make one of your own, there will be a fee. Depending on the type of business will determine how much the cost is, but that is where you determine a budget for yourself.
Pro 2: Brand Recognition & Customer Base
When you choose a franchise company, you are inheriting their brand. This means anyone that already uses or knows of the primary business will also recognize your company as well. If someone sees the logo or knows what they offer, they will immediately associate that with the original company's reputation. Additionally, this establishes a customer base within your market area if the brand is popular.
Con 2: Following Franchise Rules
There is less room for creativity or choosing how you want to run your business. Franchises have determined the best business methods for successfully running the company and expect you to follow the same guidelines and rules. The benefit to this - you don't have to have prior experience in the field you are franchising. The franchisor will know how to guide you through the process of starting your business location and help you be successful.
Pro 3: Help with Marketing & Advertising
If you aren't sure how to market to your target audience in your area, the franchisor will help you! The fees included in your franchise purchase include marketing and advertising (depending on your contract). So all of the marketing materials are accessible and staff is normally on hand to assist you when you need help. They can help guide you, do the marketing for you, or even teach you how to do it yourself!
Con 3: Franchises See Your Finances
To ensure you are successful, your financial information is available to corporate. Ultimately, the company will know whether you are having good months or bad months. In most businesses, they use this to help you and show you what you might be doing wrong, or encouraging the things you are doing right. This allows the franchisor to determine where you need help the most.
Eco-Friendly Maid Service (EFMS) is a recognized national innovator in the Residential and Commercial Cleaning Services Industry. Our reputation is built on our excellent customer service, ethics, quality, and professionalism. One of our commitments is to protect our client's well-being in all aspects of their life.
The Eco-friendly Maid Service vision is to set a new standard in the cleaning and home services market. Our franchisees will be successful due to our successful operational methods and proven relationship-building business acquisition through superior training, technical guidance, and in-territory support.
Contact the Eco-Friendly Maid Service franchise department for additional details as well as access to our franchise division at 800.935.6139 Ext. 3.