If you have ever thought about starting up your own business, going down the franchise route might carry some stigma. It can feel like it’s not really your business. Or you haven’t worked hard for it to be a success.
Many people think that you can only truly be proud of starting a business if it’s your own authentic idea, your own logo, your own offices and your own products etc. this is a kind of absolutist view.
Many people think that going down the franchise route makes more sense. It definitely can make more financial sense. So let’s see why some people really do think the franchise route is better than going fully autonomous into your own brand.
Why People Go Down The Franchise Route
Image Credit: Pixabay
Before we can get into exactly why many people choose a franchising option over starting up their own business, let’s discuss what franchising is. Watch the short video clip below to get a clear idea of the franchising model.
What is Franchising?
It’s not new or untested
Franchising in some sense has been around for hundreds of years. Think back to the history of the urban market, whether it be in ancient Egypt or Rome.
When a vendor could no longer sell his products, or at least enough of them to break even with a loan, he didn’t smash his stall to pieces and declare bankruptcy. He still has someone to pay.
So he sold his stall, his cart, his products or whatever else to someone else and they then tried to make a better try of it.
They changed the name and with a new face, could have done better or worse.
But the example still stands, franchising is nothing new or untested, it’s a form of doing business that is either convenient or just makes sense for your expansion plans.
The modern way
Quite clearly, the most modern examples of franchising are strictly found in fast food chains. You want to set up your own Taco Bell, just give the head office a call and they’ll put you through to franchising.
They will give you everything you need except for a location.
You need to sign a lease to a retail space, put down a payment or deposit with Taco Bell, and they start moving in their equipment, ingredients and recipes.
This is who they have been able to expand so rapidly, and also, break down borders. They can expand anywhere at the drop of a hat.
The even more modern way
Without a doubt, eCommerce franchising is the new way. It’s abled people with no business experience at all, to set up an online store where they choose what they sell. This kind of business model is what My Business Venture does.
They give clients a website, access to 15,000 unique products and with a little bit of business training, send them on their way. Like any business, it requires you to put effort into it.
Once everything is set up for you, the training wheels come off and you’re on your own. So, learn about sales techniques, marketing, keyword research and market trends, etc.
In summary
Franchising isn’t something new, it’s been around for hundreds of years if not more. It helps people with no business background to dip their toes in the world of commerce and see if they like it.
