When asked, many people who are looking at opening a franchise business will say that the greatest benefit in a franchise system is brand recognition. It is commonly believed that franchises have a much higher success rate when compared to independent businesses because the brand is well known, and therefore will generate more revenue faster.
What if we told you that 95% of franchise brands have under 100 locations?
How then, could a franchise with under 100 locations have such brand recognition that it will expedite your revenue growth? The truth is that while brand recognition may be important to consider, particularly in the age of digital, it is a piece of the recipe to take into account when investing in franchise, and may not even be a significant consideration.
So if you’re asking yourself “why open a franchise over starting your own business?”, you must consider the entire brand recipe to understand what the benefits are:
Resources are critical when starting a business as startup costs can be expensive. These expenses can include website and mobile app development, cloud-based applications and storage, brand development, acquiring vendors, negotiating pricing, etc. Owning a franchise like Driverseat gives you access to all of these shared resources. There are a myriad of benefits when it comes to shared resources including decreased startup costs, faster time to market, and a significant reduction in time that you must invest to get it open and operating. Many small independent businesses take 6 to 12 months to launch, where a Driverseat franchise can be launched in under 10 weeks from the time of your disclosure to your grand opening. This initial value saves you time and money because the work is already done for you.
Business With A Coach
When starting a business, having a coach to hold you accountable and help you to stay focused on prioritizing your business development and revenue generation is critical to your success. Our franchise support team helps you build your business by educating you on what works and what does not so that you can avoid costly mistakes. Business with a coach gives you the ability to develop new skills and work on the ones you may already have but have yet to master. Beyond your launch, you will benefit from ongoing coaching customized to your experiences, challenges, and successes.
At Driverseat, we foster collaboration across our network of franchise partners, cultivating a culture of shared resources and support. You have the ability to talk with and share information with franchise owners operating the same business as you. We have a virtual direct line of communication always available to our franchise partners to ensure questions and concerns are addressed quickly and efficiently.
Watch CEO of Driverseat, Brian Bazely, discuss the complexity of starting a business from scratch and the countless benefits of starting a franchise in the videos below!
If you are interested in a great opportunity to start a franchise, call us at Driverseat, or for more information, check out our website https://www.driverseatinc.com/own/.