Buying into a franchise has many advantages over starting a business from scratch. Buying into an established brand with a tried-and-true business model is only the beginning.
Proven Business Model
If you’ve decided to go into business for yourself, you will likely be conducting a lot of research to see which market has the most to offer based on your skills and goals, and how you may fit into the scheme of things. You’ll learn that franchise businesses are more than twice as likely to be operational five years after opening than non-franchises.
One of the advantages of franchising is that they’ve already figured out what works and what doesn’t. They’ve weathered the trials and tribulations of a new company and have established a system for success as a result. As a franchisee, you receive franchise benefits from the learning curve that members of your franchise family have already experienced.
A Winning Brand
As consumers, we will always return to businesses we know and trust. Even if we haven’t previously visited a particular location, we know what to expect if it’s part of a franchise. Opening a business within an established franchise system lends you immediate recognition before you’ve even greeted your first customer through the doors.
Easier Startup
The steps of formulating your plan, securing funds, and bringing it all together is fundamental to the inception of any business. As an advantage of franchising, the startup process has been well-honed over time, and you’ll be able to enjoy the support of a team of experts behind you every step of the way.
Buying Power
Opening a franchise means you benefit from the franchisor’s well-established relationships with vendors and other providers. Because brands depend on a level of consistency between multiple locations, they often form partnerships that end up saving you money and headaches when supplying you with the products and tools you need to run your business.
Training
One of the biggest advantages of franchising is the benefit of an established training and support network. Franchises are made successful by their proven methodology which can be replicated and shared to maintain a sense of continuity between all locations.
A franchise will set the scene to help you run your business as seamlessly as possible from the start, with training covering everything from leadership techniques to daily operations, employee enrichment, to customer service and more.
Marketing Support
Another franchising benefit comes in the form of a team of professionals whose goal it is to see you succeed. Franchises are able to promote their brand and, in turn, your business through far-reaching advertising campaigns via online advertisement, social media, direct mail and email campaigns, and other highly visible platforms. As a franchisee, you’ll benefit from the experience and expertise of a dedicated marketing team whose sole job is to benefit the brand.
Is Franchising For Me?
In many ways, the advantages and disadvantages of franchising are two sides of the same coin. While being part of an established brand is a huge draw for some entrepreneurs, it might not sit well with others. A winning reputation can take you far, but bad press can harm your public image. For some, the idea of contracts and established guidelines may feel restrictive.
While franchising isn’t for everyone, it presents an incredible opportunity for ambitious entrepreneurs who are seeking to capitalize on the ability to run their own business with the backing of a supportive and established brand.
Take Advantage Of Franchising With Uni K Wax
If you’ve chosen to open a business in the highly lucrative waxing industry, the competition and general startup process can seem overwhelming. Uni K Wax has developed an integrated system of support through years of experience that will help you run and grow your business unlike anything you would experience on your own.
Uni K Wax also supports a semi-absentee franchise ownership model that allows franchisees even greater freedom with the backing of a brand that’s fully invested in their success.
Our team of experts is dedicated to guide and assist you every step of the way, from site selection, community outreach and marketing to training, customer support, assistance with vendors and equipment, IT and operations guidelines and beyond.
If you’d like to learn more about owning your own world class waxing studio with Uni K Wax, request info today.