4 Franchise Myths Busted
Franchising is an increasingly popular way for smart, enterprising people to become business owners. Whether you invest in a construction franchise or a restaurant, there are a lot of pervasive myths about these opportunities. Take a look at four common franchise myths, and learn the truth behind them.
#1 Franchisees Are Just “Buying a Job”
A long standing myth about franchising is that investors are buying a job and they have no say in their business, no creativity, and no control. The truth is that the franchisees follow the business’s framework, which is based on proven systems and processes. What some might consider “limitations” are merely things that the brand has proven to generate income, including operations, systems, marketing, uniforms, and so on.
#2 Owning a Franchise Means Automatic Success
While finding success with a franchise is easier because of the systems and resources in place to assist you, it is important not to get complacent thinking that all the work is done for you. We don’t want to sugar coat it: Owning and operating a franchise requires quite a bit of work on your part in order to build a strong business.
It is important to remember that the work you do when you own your own business is some of the most fulfilling and satisfying work there is. Research shows that people who own their own businesses are happier than people who don’t, and it is easy to see why. As owner, you are in control of when you work, who you hire, the clients you work with, and so much more.
#3 I Have to Choose a Franchise in an Industry I Already Know
Many people think they have to limit themselves to franchises in industries that they are already experts in. This is an unnecessary constraint that may keep you from looking into some excellent businesses. Franchising makes business ownership accessible to a greater number of people through training. For example, you can invest in a construction franchise even without a construction background if the franchisor provides adequate training to prepare you to run your business well.
The key is to look for a franchise opportunity that gives franchisees training before, during, and after they open for business. In addition, make sure to choose a franchise that supports its owners for the life of the business, including ongoing education and resources to help the business thrive and grow. While industry experience is a plus, training makes it so that it is not a requirement.
#4 The Startup Costs Are Unaffordable
A common roadblock for people who aspire to be business owners is the investment. It is a misconception that the startup costs for a franchise are unaffordable, when the reality is that there are franchise opportunities to fit a wide variety of budgets. There are low cost opportunities as well as franchises that cost into the millions. Chances are high that you will find a franchise that fits your investment budget.
There is a lot of information out there about franchise opportunities, so make sure that you aren’t falling prey to false information. If you are looking for a construction franchise opportunity that lets you work with your hands and learn about the way homes are made, Pillar To Post is a smart choice. Find out what it takes to join our franchise family!