Debunking Franchise Myths
We all know the upside to franchising: proven franchise system, training and support, purchasing power, brand recognition, and lower risk of failure top the list. But before you utter those three little words, "it's all good," take a reality check. Consider this list of common myths surrounding franchising and get the true facts.
Myth
Success is guaranteed.
Fact
Franchising does increase your chances for success over going it alone, but it's not a magic solution. Any venture involves risks; a proven system merely lowers those risks.
Myth
You can be your own boss.
Fact
Yes, you will enjoy some perks as a business owner, but you still have to follow someone else's rules-the franchisor's. You may not have the power to make even the most basic decisions about hours of operation, pricing, suppliers, and marketing.
Myth
It's cheaper than starting from scratch.
Fact
The cost of starting a franchise is about the same as starting your own business when you consider the real estate, build-out, equipment, supplies, and advertising. You might get some price breaks from group purchasing, but royalty fees will offset any savings.
Myth
It's easy.
Fact
Don't assume that once you make your investment it's not going to be as hard as a regular non-franchise business. With a franchise it's going to be an easier transition and a lower chance of failure, but there's no way around it-running a business is hard work.
Myth
Bigger is better.
Fact
Bigger companies do offer some advantages like large-scale advertising, sophisticated systems, and more capital to support the brand. But smaller franchisers are often more flexible and responsive to franchisees.
Myth
A high-priced franchise will yield a bigger ROI.
Fact
Often the opposite is true. The price of the franchise has little to do with profit potential. You need to take into account numerous factors such as market conditions, system efficiency, location, and your own knowledge of the industry.
Guess Who’s Back, Back Again? Fitness Franchises “Working Out” Their Return Post Pandemic
Thankfully, now that over 51 million people in our country have been fully vaccinated, fitness is on the way back. If you’re considering opening a fitness franchise this or next year, you may be making a smart move. Let's see two brands doing it right in a tough time!
Best Frozen Yogurt Franchise Opportunities in the USA
As the frozen yogurt industry has matured, the leading frozen yogurt franchises have maintained growth not only by continuing to expand their footprint across the USA, but by expanding their menu offerings as well. The popular topping bar concept, for example, is becoming an industry standard, and many frozen yogurt franchises have begun to offer products such as vitamin-enriched smoothies, froyo cakes, and other similar treats.
