Benefits of Franchising
Espresso Vend Australia Franchise
Franchise Business, Coffee Vending, Coffee Franchise
Better Chances of Success – UK research over the years has shown that of all business starting today, only 20% will still be trading in 5 years time; with franchising these figures are reversed. The reason for this represents the benefits of franchising.
Buying Into A Proven Business System – Franchising is a proven business model that is already operating; you are buying into a proven business system. The franchisor would have made mistakes along the way and would have learnt from the mistakes. This knowledge is invaluable and is passed on to franchisees as part of the franchise system. This franchise knowledge and experience enables you to start your business at much higher level on the learning curve. This reduction in the learning curve will reduce the time to succeed in business venture and start making profits.
With your franchise purchase, you will receive an operations manual, which will provide the operating system for your franchise business. It is based on best practices to enable you to get off to a flying start. The majority of daily operations will be covered in the manual and for those issues that are not, your franchisor will normally be able to help.
Support – There is a great deal of help and support available within a franchise system. The ongoing support that you need will change as your business grows. You will be reliant on the franchisor from day one for training and support. This will take various forms however; will include product training, business system, marketing and accounting systems.
As your business is established, you will benefit from different types of support, such as staff training, human resources and National account business. Most successful franchise system will hold regular ongoing franchisee meetings, which provides great opportunity to benefit from the experience of other franchisees.
Established Brand – Proven business systems, established brand and respected business name gives you a head start in getting your business off the ground and will attract customers from day one.
Finance – Franchisors may well have arranged a finance package with various banks or finance institutions. As franchisee, you will benefit from the record of accomplishment that the franchise system has established. Finance for franchise business will often be on more favourable terms than with conventional business.
Business Planning and Reviews – Most franchisors will require preparation of business plan and regular review meetings with you to discuss all aspects of business. You will be able to check your progress, celebrate your successes and plan. One of the major reasons for business failure in the past has been due to poor planning and good business advice.
Buying Power – As part of franchise network research and testing process will be completed by the franchisor. When building a business it is difficult to have spare time on product research. It is also to take advantage of group buying discounts and better terms and conditions from suppliers.
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