Why are Franchises so Successful:
Franchises have an amazing 90% success rate. New businesses have a 15% success rate. Why is that?
Individuals who come up with a business concept may have a passion for their product or idea, OR a great business head, OR a great marketing plan, OR ample financing, OR entreprenerial drive OR experience in running a successful business. OR a great business partner... but rarely have it ALL.
A franchise system has it ALL.
Mistakes are expensive, whether in marketing or customer relations. Why learn from your mistakes when you can learn from others' mistakes at no cost to you? A franchise is a proven business model. We already know it works and it's profitable. Training is provided. Coaching is provided. Financial tools for tracking profits and expenses are provided. It's a complete system down to how to run an ad or hire a new employee at your fingertips. There's someone to ask when you have a situation.
Why buy a steering wheel when you can buy the whole car?