Reasons to Buy a Retail Franchise
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Why should I buy a retail franchise?
Buying a retail franchise is one of the most popular methods of small business ownership available and with good reasons. The average five year survival rate for new start-ups is less than 80% according to the SBA or Small Business Administration. By purchasing a franchise with a proven business and marketing plan, recognized name brand and built-in support, a new business owner can dramatically increase the viability of the business during those critical early years!
Here are the top reasons to consider the purchase of a retail franchise:
- Proven profitability. Gain the advantage of a proven product line, pricing, business model and methodology without having to go through the trials and errors yourself.
- Turn-key small business solutions. Most franchise retail stores have relationships with vendors in place, known distribution and buying affiliations and other beneficial services available from day one.
- Site selection and marketing support. The majority of retail franchises assist in site selection, marketing support, corporate communications and a host of other strategies designed to increase your odds of success.
- Training and backend support. Learn directly from those who have created a thriving business model or tackled problems similar to yours. With a retail franchise you have a very similar experience and expectations that can be shared to gather detailed information on what works and what doesn't.
- Nationwide exposure and name recognition. One of the best reasons for considering the purchase of a retail franchise is the marketing and nationwide exposure.