Deciding to become your own boss is a big decision. Let’s face it, starting a business can be risky, not to mention scary.  So how do you reduce the fear and the risk? Education is one way.  The more you learn about business and how to build one successfully, the less fear and risk you have.  Using a proven model and system is another way to stack the odds of success in your favor and that is where franchises come in.

We got the inside word from a variety of franchise specialists to discover why franchises are a smart move for the first, second and even third time business owner.

Here are the top seven reasons why buying a franchise could be the right option for you.

You’re buying a proven model of processes and systems – Products, services and systems are already defined for you

With a franchise you don’t have to build your own model, “your buying a proven system and way of doing things.”

It can take companies years to simply define what they sell, the pricing and then how to deliver it. With a franchise, this is already done for you. The franchisor has already worked out the pitfalls and created a solid basis that can easily be rolled out. You’ll get training with everything from advertising and sales to products and web site design. 

It’s so much cheaper when someone else has already made all the mistakes for you. When someone trains you at the start on how to succeed, it’s a game changer.

“If a franchise is in more than 80+ countries and has been operating for over 25 years, the system is likely to be sound.”

Overall cost is decreased – cost in your time, opportunity cost and actual cost

When you start a business yourself you have to do everything from scratch - from the systems to the marketing pieces, to the products and services research, and the list is truly endless. It can take months or maybe even years to get your business running at the professional level.

The Opportunity Cost of not being able to start marketing and building from day one means it can be months or even years before you start to hit break-even. Again this is time, but it’s more about the money you didn’t make because of all the other work you were doing developing your marketing collateral, your products or services, etc.

Just a great website and a professional graphic design package alone will, in many cases, cost you more than the actual franchise, forget all the other development costs it takes to build a business and a brand. 

Existing or former business owners often choose franchising in their 2nd or 3rd venture because they understand how long it takes to get a business going if doing it on their own. Even the investment is often higher, it’s just spread out over time instead of all up front. 

You’re in business for yourself but not by yourself – you get independence and support

Being a franchisee is different than starting your own company or purchasing an existing small business – but that doesn’t mean you give up control and don’t get to make decisions. It’s your business, you manage the schedule, and you run the show.

Being a business owner can be a lonely place so understanding you have support when you need it, from not only the franchisor but also other franchisees, is a huge benefit. If you follow the components and structures of the franchise, your odds of success increase.

A lot of potential business owners are attracted to the help a franchise offers, coupled with the independence they get as an enterprise owner. “You’re working as part of a team while you own your business, you’re no longer doing it on your own.”

Training – your specialized training as well as ongoing support a growth

Learning how to be successful is one of the hardest parts of getting into your own business. A good franchise will train you in all the things you need, not just about the industry but also business basics and general principles of success.

A franchise comes with plenty of support – both extensive training and ongoing assistance. “You’re going into business for yourself, but not by yourself,” says Carly Mackay, Franchise Development Manager at Bakers Delight.

A good franchise will always be adding more value to you and the other franchise partners through ongoing training and development.

Brand power – people already know what your business can offer them

If you join a franchise that has been around a while there will be many years of branding investment from not only the franchisor, but every single franchise partner that went before you. What is better than starting a business with a brand that customers already recognize and love.

In the consumer’s mind, the brand frequently equates to reputation. So, becoming a member of a reputable, successful franchise with a strong company picture allows the franchisee to jump start their marketing because their consumer base already knows them. You are able to leverage the familiarity people have with a successful brand and begin a commercial enterprise with immediate credibility.

Minimized risk – success rates are in your favor

Reports from entrepreneur.com and about.com, among others show that franchises have success rates averaging 90% over approximately 80 different industries.

Having a wealth of experience behind you significantly increases your chances of success. With a franchise, you’re simply investing in established concepts and systems that have been proven successful and easily replicated.

While there is never a guarantee of success, having the backing of a skilled brand with a proven system stacks the odds of success in your favor.

You’re not alone – there’s always a community there to help you through the tough times.

Starting a business can be rough, but with a franchise, you don’t have to do it alone. Having the ability to tap into the knowledge of other franchisees can be invaluable as you set out on your business journey. Because your success is also the success of the franchise, you’re surrounded by like-minded entrepreneurs from the moment you start.

A truly great franchise thrives because of its community and its culture.  Having a community that lives the culture of abundance means you not only get support from the head office, but also from established, successful franchisees, all willing to help you succeed.

The ActionCOACH franchise is an investment in the rest of your life.

ActionCOACH created this franchise opportunity for the true Entrepreneur like you, who sees themselves as an investor or area developer and is looking for unlimited growth potential. Much like the traditional firms familiar in the professional service industry, your ActionCOACH Franchise will be the dominate provider of business coaching in your exclusive territory and in your community.

If you are a business professional, corporate executive, or entrepreneur, becoming an ActionCOACH Firm Owner can open a world of possibilities. When you get awarded an ActionCOACH FIRM, you become part of the global ActionCOACH community and part of one of the fastest growing industries in the world.

As an ActionCOACH you have the backing of an organization with more than 28 years of experience. You also become a part of an organization whose unique culture provides a nurturing and inspiring environment to grow and thrive.

Here are a few benefits of becoming an ActionCOACH Firm Owner.

• 28 years of IP in Marketing & Selling business coaching services, Business Strategy and Coaching methodology
• Exceptional Return on Investment levels. Our modelling shows a better than 300% ROI within the first 2 years.
• Extensive training on where, when and how to apply the IP effectively
• Intensive and ongoing support to get your business up and running and keep it growing
• Brand power – the credibility that comes from putting our name alongside yours
• Community – you will never feel like you’re on your own. Over 1000 franchise partners to support, inspire and assist you.
• Ability to build a sellable asset by growing a territory that increases in value and eventually sell or put a general manager in charge to build a business that works without you and get passive income for as long a you desire.

Stop putting your dreams on hold. Now is the best time to buy an ActionCOACH Business Coaching Firm. Contact us to find out the HOW today!