So, you’re interested in owning a business. Or, you’ve at least thought about it a few times!
Being a business owner can be a very rewarding experience. However, as you explore the many opportunities that are out there, you may wonder, “Should I buy a franchise or start my own business?”
There are certainly pros and cons to both models, so as you consider your options, it’s important to keep in mind what your goals are and the level of support you need. Here are three key reasons to consider pursuing a franchise opportunity vs starting a business alone.
Established processes, training and support
Starting your own business can be a thrilling journey – however, it’s a journey that doesn’t necessarily come with its own roadmap. If you’re unsure of how and where to start, you’re not alone. Fear of failure and lack of confidence are among the top barriers to starting a business.
Fortunately, with franchising, there’s no reinventing the wheel. A franchise comes with an established set of processes and systems that are proven to drive success. With the backing of tried-and-tested business methods, you have more time to focus on other areas of running your business – without having to focus on logistics and what your next steps should be. Many franchisors offer extensive training programs that begin as soon as you sign the dotted line. This is an especially attractive benefit for aspiring business owners looking start a business in an industry where they might not have tons of experience.
At Children’s Lighthouse for example, most franchise owners are business professionals, not necessarily educators. You don’t need a background in early childhood education to be a successful Children’s Lighthouse franchisee! Just like a lighthouse, we guide the way along every step of your journey.
Franchising provides the benefits of owning your own business with the security of a built-in support system. Between franchise leadership, the development team and a network of other owners, you’ll have plenty of people to turn to for advice and best practices.
Site selection assistance and marketing support programs
Starting a business comes with plenty of logistics. Will I be working out of my own home or a different location? How do I find and secure a site? How and where do I attract my customers?
Franchising can help you tackle all these questions (and more!) with ease, taking the guesswork out of starting your own business from scratch. Site selection and construction, financing options, marketing, and customer acquisition are just a few examples of support that a franchisor can provide.
During the start-up phase, Children’s Lighthouse franchise owners benefit from a robust support system that includes business plan assistance, real estate selection, project management and much more. In addition, we provide strong marketing and advertising programs to help build enrollment, retain customers and build market share.
Building an independent business from the ground up can cost you more time, stress and money than you bargained for. There’s nothing wrong with a little risk – however, considering that fear of failure is one of the biggest barriers to starting a business, franchising can provide more comfort and security from the get-go.
Remember: whether you buy a franchise or start your own independent business, you’re still a business owner, and you’re still your own boss. Franchising may not grant all the freedoms that an independent business promises, but, it comes with the security of proven processes, systems, training and many other elements that are designed to help you succeed.
Learn more about franchising with Children’s Lighthouse.