Are you thinking about following your dream to become a business owner? Are you stable in both your finances and your personal life so that investing in a business is a realistic option? Then maybe now is the time to follow your dream. However, before you start putting together a plan for your own company, consider the idea of investing in a franchise instead of building a business from scratch. For example, if you’re thinking about starting a green business, consider an existing franchise, such as SuperGreen Solutions, instead of starting a green business from the ground up.
The following are a few of the reasons why it may be to your advantage to run a franchise instead of starting a new business:
1. Franchises Are More Affordable
It generally costs a lot more to start a business from scratch than to invest in a franchise. This is because your business plan won’t be as streamlined as that of a franchise. Franchises know what works and what doesn’t, which means you won’t waste any resources on the trial and error typically involved in running your own company.
Additionally, you won’t have to allocate nearly as much of your money toward marketing efforts. When starting a green business from scratch, you’ll have to put a lot of money into advertising your company to increase brand awareness and draw the attention of potential customers. With a franchise, the brand is established—and you’ll be able to take advantage of national advertising that you aren’t paying for.
2. It’s Easier to Obtain Financing for a Franchise
Gathering the funds needed to get your new company off the ground can be very difficult. Lenders are extremely selective when granting small business loans because of the failure rate of small businesses. If you’re investing in a franchise, lenders will be more likely to give you a loan because they know that franchises tend to be a solid investment. They’re usually more willing to offer good terms as well. You’ll also have more options for financing a franchise since many franchisors offer third-party financing options.
3. There’s a Much Smaller Risk of Failure
First, the brand of a franchise is established, which means that consumers are usually already aware of what your franchise does and what it has to offer. This makes finding new customers much easier than if you’re starting from scratch.
Second, most franchisors offer their franchise owners ongoing support to ensure that they don’t fail. Franchisors never want their franchisees to fail because it will hurt their reputation—and their ability to sell more franchises. They will provide full support and advice as you open your franchise location and while you run it.
4. You Don’t Need Business Experience or Expertise
Starting a green business from scratch without any kind of past business experience or expertise can be challenging. Doing so will increase the likelihood of failure. However, if you invest in a franchise, lacking experience or expertise won’t hurt you. This is because a good franchise will offer its owners a full-fledged training program. For example, we offer two weeks of in-class training followed by three weeks of on-site training to ensure that you are fully prepared to open and operate your franchise effectively.
As you can see, starting a green business from scratch may not be the best way to go. If you’re curious about investing in a green franchise, then be sure to visit us at SuperGreen Solutions for more information today.