WTF? – What the Franchise?

There are several ways to get into business; a pure start-up, a purchase of an existing business, a franchise agreement, etc.   Each way offers unique advantages and disadvantages.  Often times, franchising isn’t given serious consideration by entrepreneurs because it doesn’t begin with a unique idea that you could turn into an opportunity.  However, for some, the pros out-weigh the cons.

Becoming a franchisee, the owner of a franchise, perhaps with territory rights, has some significant benefits that first-time start-ups do not.  First, the franchisor who developed the product/service/business model, can provide a tremendous amount of start-up assistance.  Keep in mind that the franchise name is on the business also.  The franchisor wants the franchise to succeed.  For example, Dunkin’ Donuts® has been franchising since 1955 and now has about 9,000 franchises.   “Dunkin’ Donuts® has a team of experienced and dedicated franchising support professionals across the country. From the moment you complete your franchise application to the day your franchise opens and beyond, a team of franchising experts are available to support you. Dunkin’ Donuts‘® franchising support team includes development, construction, operational support, training, and field marketing managers. Each team member contributes specialized knowledge to help support your franchise “.

Second, starting a franchise provides instant recognition for your business.  Think about the ‘golden arches’…need I say more?