Two Major Reasons to Try Franchising
Patricia Aleckzandra | BravoFilipino
Starting a business and paving your way up the ladder of success can be really hard. It will take a lot of planning and will consume most of your time especially if you would start from scratch. But there is a way to actually ease everything out, and that is through franchising. Franchising is a new practice wherein a franchisee uses a perfected business concept while the franchiser grants him/her the right to market a product or a service while using the trademark, name, logo and available advertising. In simpler terms, it is acquiring an existing business and making it your business while using the franchiser’s original concept.
Just because you started out with something concrete in hand does not mean it would be a piece of cake. Franchising, let’s put it this way, is a less risky option for aspiring entrepreneurs. Here are two major reasons why you should consider entering the franchising industry.
- Start with something concrete. You don’t need to go around wondering and perfecting your business concept because a franchise offers you a well-planned blueprint of your soon-to-be business. It gives you a still ground in which you can start your own. The risks of failing on a business like this lessens because you are operating with a tested and tried business system.
- Independence with guidance. Franchising is a good way to start your own business even if you don’t know a thing about it. How? Starting up a business also means you have to master all aspects of business – marketing, managing, accounting and more – but sadly for most of us, we can only master one part and struggle with others. Most franchisers provide training in all major areas of the business. Some also offer to give you trained staffs for your new business. Aside from it guiding you with training, it also allows you to work on your own. Even if you are provided with basic frameworks and system, still it is up to you how to advertise, hire or fire staffs or style in approaching customers.
The world of franchising can really be complicated but fun. Last October 14-16, the Association of Filipino Franchisers Inc. (AFFI) held its 15th Franchise and Business Expo at the World Trade Center in Pasay City. Hundreds of business ranging from the big ones to the new budding ones gathered on this prestigious event. Expos like these can help you in choosing what business you might be interested to venture to.
AFFI Board Members
Franchising is, like any other business, takes a lot of time and effort. It is not as easy as one, two, three – I guess I made that clear above – so better choose a brand that you can work with and will make your efforts all worth it.
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