Franchise 101: What You Need to Know About Opening a Franchise (Part 1)
January 21, 2019
Franchising is becoming an increasingly popular option for entrepreneurs. There is an endless debate about which opportunity is better to pursue: franchises or independently-owned small businesses. What many investors overlook in this debate is just how many benefits there are when it comes to franchising. From the knowledge of how much it will cost by having a predetermined investment to better-informed estimates of your return on investment, franchises are the way to go. Here are some things you need to know about how to open a franchise, and how to pursue the perfect opportunity for you.
Learn How to Open a Franchise
The Right Brand Is Important
Every franchise is different, so in order to find the right opportunity, you need to evaluate what you want from a brand and how to open a franchise with them. This requires some research on your end because you want to make the best investment.
Research the Industry
The first step is to research the different industries to best understand which one is right for you. Most franchises offer in-depth training of both the industry and the business, so while you are searching, do not feel limited to industries you know or feel confidence in if they are not your passions. What opening a franchise ultimately comes down to is how well you can operate a business – so you do not have to invest in a restaurant franchise just because you worked in one and you do not have to invest in a painting franchise just because you are a good house painter. Your options are wide open, as long as you choose a brand that provides the training you need.
Research the Opportunities
Once you pick an industry, you can begin researching the best franchise opportunities within it. Ideally, depending on your experience, you want to choose a brand that offers extensive training that can make you an expert in your industry. For example, U.S. Lawns’ investment provides both industry-specific as well as franchise training that makes you a well-rounded franchise owner. Having this mixed blend can help ensure a better chance of success once you open your doors.
Understand What You Want
A good franchise owner ultimately knows how to open a franchise and run a business passionately. Like any business, you need to get your hands dirty in the beginning to get your franchise up and running. However, depending on the brand, you may have much more flexibility after you get started. Whether you’re interested in having a better work-life balance or the opportunity to focus more on the operational side of a business, it is important to understand what you want before you invest. Not every opportunity is created equal, and different franchisors will have different expectations.
U.S. Lawns offers our franchisees with a time-tested and flexible business model. We created a franchise concept that is relatively low in cost, but may require you to put in a little extra effort in up front to get your franchise up and running. The rewards at the end speak for themselves. With our systems and tools that we help you use throughout the franchising process, you can see the benefits of working for yourself with the training and support of a national brand behind you.
Looking for more tips on how to open a franchise? Read part 2!