Franchise opportunity for women with children
It is a fact of life that the gender pay gap still...
Franchising offers budding entrepreneurs the opportunity to run their own business and be their own boss, with the benefits of operating under the banner of a well-known brand and being able to call on an established support system as needed. For these reasons, franchising offers a degree of security that does not exist when you tackle it alone. There are other compelling reasons to join a franchise, however.
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Greater chance of success
Franchises have a much lower failure rate than independent businesses. This is predominantly attributed to the factors described above. Running a business under the banner of a recognized and respected brand name means that customers will intrinsically trust and support you from the outset.
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Reduced marketing costs
Promoting a business can be a time-consuming and costly endeavor. Pitching ads at the right level and on the right platforms is an art form, and reaching out to your target demographic can quickly become a full time job. Franchisees tend not to be as involved in marketing as this is handled by the franchisor, who will ensure that all of the brand's marketing campaigns are consistent, correct and relevant.
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Secure supply chain
Franchises often have an existing supply chain, which allows franchisees to benefit from advantageous rates while delivering a consistent product to their customers. This supply chain security helps franchises to be sustainable in the long term, regardless of the impact of external economic forces that could otherwise derail them.
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Ongoing training
Franchisors are committed to the success of their brand and provide their franchisees with ongoing training and support to help them optimize their operations, streamline their processes, and adapt to changing markets. This support network can be invaluable to new franchisees.
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Centralized technology
Technology can be expensive, and running standalone systems and infrastructure can be complex. It is very convenient that franchisees can use centralized IT systems to run their business. Not only will the franchisor provide the technology needed, but they maintain responsibility for system and software upgrades, training and troubleshooting, allowing their franchisees to focus on running the business rather than dealing with back-of-house issues.
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Franchising truly offers entrepreneurs a perfect blend of security and flexibility, allowing them to run their business to the best of their ability and get to know their local customers, while supporting them along the way to be the best they can be.
