Managing the time, money and resources you need to start your own business is not easy. From deciding on a business, creating a business and marketing plan to finding a location and getting a loan, securing an entrepreneur’s rewards means first taking on plenty of risk.
Or does it? For many individuals seeking to become their own boss, a better—and safer—way forward is to own your own franchise.
We spotted another example of franchising’s (relatively speaking) conservative approach in a recent BNLug.org (BNL) post, Top Reasons To Own Your Own Franchise.
Just as we happily share our vast point of sale (POS) experience and expertise with startup owners in order to help them make the best decisions from the very beginning, we at Sintel Systems are happy to share articles and commentary about the perceptions and reality of the risks involved in making a career change.
Best if read during your “Research Phase,” not after, here’s a summary of BNL’s post:
Easier financing. The unknown quantities associated with an individual’s endeavor means a higher risk of possible failure. Lending institutions see less risk in an established, successful franchise company.
Valuable business experience. The basic structure of things, all timely and put into place by corporate headquarters, makes for an efficient way to gain responsibility and grow valuable experience: hiring and firing employees, marketing and running the operation.
Support. Although you’ll be running your franchise as a small business, you’re never alone. Extensive training, and a channel of communications with contacts at headquarters, means taking on less risk by benefit of the experience of others who came to the franchise before you.
Marketing and branding advantages. Without experience, branding and marketing a new business can be very difficult. Most businesses fail due to not attracting enough clients or customers. Franchises benefit from the bigger whole, so while marketing an individual location is highly encouraged, other larger campaigns through television and print help your customers understand your product or service.
The ability to grow. Franchises are noted for growing their own franchisees, some even starting from hourly positions to become passionate about the company and its vision. And the growth doesn’t have to end there with one location. Often, multiple franchises under one owner are specific to one region.
BNL urges potential franchisees to conduct thorough research in advance in order to find a franchise proven to perform well and with the best fit with your interests. “Never be afraid to ask questions or request additional information and training,” they write. “The more you learn the better you’ll be able to perform and increase your chance at success.”
Before you make your franchise move, consider calling Sintel Systems for a free phone consultation to help weigh and understand your POS options. We serve as a franchise incubator for clients across the retail, restaurant and service industries, forming lasting partnerships with our clients that you simply can’t get from a reseller.
Read the full BNLug.org post here.
Sintel Systems is the only direct to end user full-service provider of tailored Point of Sale systems across retail, restaurant and service industries, including frozen yogurt shops, pizzerias, sushi restaurants, cafés and retail stores.
As a single source for business solutions, our experienced, knowledgeable team negotiates the complex POS landscape for you to enable you to find the right POS system for your business and budget. Hardware – Software – Support