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However, sometimes having too many options can be just as restricting as not having enough of them. The best example of how this works is the option of buying a franchise, which presents you with somewhat different terms of success than starting a business from scratch. Here are six benefits of franchising that can make a cleaning business worth considering.
Lower chance of failure
While it is true that you can’t rely on statistics, the truth is that sometimes they can be an indicator of what you’re up against and what your chances of making it are. Namely, the numbers are quite clear about the fact that starting a franchise sets you up with much greater odds of success than starting your own independent business. Either way, the success won’t be delivered to you on a platter and you have to work quite hard for it. However, in a scenario where it seems as if everything is stacked up against you, every bit helps.
An already proven business model
One of the biggest problems with business plan execution lies in your ability to find an effective business model. This too is something that franchising can help you with. By buying a franchise you also inherit a pre-established business model that you just need to adjust to. Sure, business models in the cleaning industry usually aren’t that complex or innovative, yet, you would be surprised at just how easy it is for a first-time entrepreneur to get entangled in even the simplest of logistical structures.
Even though buying a franchise isn’t always cheaper than starting your own business, the truth is that you get more for the same money. First of all, you don’t start from scratch. Just the fact that you already have some brand presence means that you don’t have to start building your brand awareness from zero. Also, you don’t have to spend too much money on establishing brand markings (logo, colors and slogan), due to the fact that this is something that the franchisor has already done. These two items alone can be quite expensive and a chance to repurpose these funds might give you a significant competitive edge.
Training and assistance
The biggest problem with running your first enterprise lies in the fact that you’ll lack experience. For instance, even though you may have a lot of experience in the cleaning industry, knowing how to start and run an office cleaning business is not the same. By franchising, you’ll get some much needed expert support and guidance. Chances are that you’ve underestimated the cleaning industry, and that there’s so much here that you’re still unaware of. Being an entrepreneur might be something that you’re still quite unfamiliar with and doing something as big and as important without any proper assistance can increase the chance of a fatal error.
You’re not starting from square one
One of the most frightening things in the business world may just be the task of gaining the trust of your audience. As a franchisee of a well-known cleaning business, you’ll have a more favorable starting position. There’s already some brand presence in the industry, but things get even better. You see, most franchisors are “selling the territory” meaning that owning a franchise means that you can safely cross one major industry competitor from the list. The franchisor may also share some of their contacts with you, which could, on its own, be reason enough to go for a franchise.
Easier to obtain financing
The last thing you need to understand is the fact that even though you may not need much money to start a cleaning business (depending on your ambitions), you still need to do some fundraising. As it happens, this is much easier to pull off with franchising. Think about it, we’ve already mentioned the fact that the chance of failure is somewhat lower, which is what makes a lot of investors more eager to consider your business. It also makes a loan easier to secure as well as provides you with a ton of other perks.
All of these factors are definitely worth considering, yet, there are some downsides to this as well. First, there’s only so much that you can stray from the path laid down in front of you by the franchisor. Second, there’s a small chance that a franchisor won’t renew the contract. However, these usually aren’t that big of a problem/aren’t that likely. Therefore, when all things are considered, the majority of people find running a franchise to be more than worth it.