Buying a franchise has its advantages. The largest and most obvious is that you?re buying into a known and established brand. Customers will know what to expect from you, and that makes many people more comfortable and eager to enter a place they?ve never been before. Bob?s Burgers may be a mystery, but McDonald?s is known and familiar.
Additionally, in a franchise situation, you don?t have to create or develop your own products or practices. These are already created, and most franchise agreements include language that states that you won?t deviate from the standards set by the franchising company. There?s no need to try to come up with your own advertising slogans or marketing messages. As a franchise owner, you can concentrate on the excellence of your operation.
The standardization that makes franchising so appealing to some aspiring Westchester business owners makes the process frustrating for others. Being obligated to run your business in a certain, specified way can be found restrictive and stifling for the Westchester business owner who is convinced they have another, better idea about how things should be done. As a Westchester business owner, you have to decide how important creativity and the ability to generate and implement your own ideas is to you. If you know you?ll never be happy following someone else?s dictates and orders, run ? don?t walk ? away from franchising. Life is too short to put yourself in a position where you?re sure to be miserable.
Franchising companies know this. That?s why many companies interview prospective franchisees specifically about this issue. They?ve spent years and lots of money developing the brand equity that makes them attractive to large numbers of customers. For this reason, they?re very wary about selling to Westchester business owners who aren?t psychologically prepared to flourish under the franchise system.
Talk to your SCORE small business coach about your individual situation. It takes a certain degree of self-knowledge to make the right decision, while weighing your options against the local marketplace. Working with an experienced small business coach is a good way to make a smart decision. You?ll also want to attend SCORE?s workshop, Franchises: Are They Right For You? on May 16th.
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