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If you have big dreams of owning your own business, but can’t seem to figure out how to get started — owning a franchise might be a solid option to consider. Partnering with franchise organizations is the perfect way to flex your entrepreneurial muscles and be your own boss while having the support and guidance of an established company along the way.
Here are some of the biggest advantages to owning a franchise:
Starting a new business is an expensive venture so having low start-up costs is a huge benefit of investing in a franchise. Franchises have a pre-established investment fee that tends to cover most of the costs associated with starting that business. While the initial investment into your franchise may be significant, you can put your mind at ease knowing there will be little-to-no unforeseen expenses from thereafter that can affect your earnings.
Quick Return on Investment
With any new business, it can be extremely difficult to gauge when you will become operational or when you will begin earning money. One of the biggest advantages of partnering with franchise organizations is turnkey profitability. Thanks to their proven business model, a franchise business makes it possible for you to start earning a return on your investment almost immediately. This is an edge that most new businesses simply do not have.
Building a brand is not easy, but with a franchise, you’re able to skip that step making your ramp-up phase that much faster. Franchises give you a better chance at success because they already have an existing customer base and vetted services. From day one, franchises give you the advantage of starting your business under the veil of a recognized and trusted brand in the industry. That pre-established brand reputation gives your new business credibility — something most new businesses have to build from the ground up.
Proven Business Model
Starting a new business doesn’t come with a “how-to” guide — unless you’re a franchise owner. Under a franchise business, franchisers have already made the mistakes new businesses tend to make. They’ve taken what they’ve learned and implemented it in their business model which has already proven to be successful. That means that franchise organizations take the work out of deciding what kind of products/services to offer, what equipment should be used, pricing, information technology, media management, etc. It’s all taken care of by the franchisor making it that much easier for the franchisee.
Easy to Scale & Expand
Got multi-business dreams? Franchise businesses are organized with the purpose of scaling and expanding — meaning you have the opportunity to own multiple businesses. Within 1Heart’s franchise network, we have franchisees who have invested in multiple franchise locations. With our proven formula for success, your business portfolio can grow as much as you let it.
Mentorship & Ongoing Support
One of the most attractive advantages of owning a franchise is that entrepreneurs are able to receive independence with guidance. Starting a new business is a lot more achievable (and a lot less stressful) when you have a built-in support network walking you through every step of your entrepreneurial journey. For instance, at 1Heart, we offer continuous training and support for as long as you are part of the 1Heart Franchise team. Having experts on your side makes owning your own business possible regardless of your prior experience or business knowledge.
The risk is high for start-ups with a very real possibility for business failure. By starting a franchise business, you are following a business plan that you know works. Since all the kinks have already been sorted out by the franchisor, you don’t have to waste time or resources with trial and error. This makes investing in franchise organizations a much safer path to business ownership and pretty much guarantees success (so long as you do your part).
It’s important to remember that not all franchise organizations are born equal. 1Heart’s franchise model makes it easy for entrepreneurs to achieve their dreams of owning their own business in an industry with tremendous growth value. Want proof? Hear from our franchisees directly to see how we set you up for entrepreneurial success.
If you’re ready to take the first steps towards being your own boss and join 1Heart’s mission towards transforming senior home care, contact us today.