| Franchise Facts |
Independent
Businesses |
 92% Succeed.
The support and systems of the franchise do not provide
guarantees, but improve the odds of long-term survival greatly. |
 77% Fail.
Why? Because, while many know how to build a business
structure, few know how to build a business system. |
|
Lessons learned are
re-incorporate into the franchise as a whole. Each owner
directly or indirectly learns from the enterprise. |
Lessons are lost
when business fails. Owner often embarrassed to
document/pass-along the issues that led to closure. It's
difficult to get more information on how to do things
differently next time. |
|
Start up is
controlled, enthusiasm maintained throughout. You always
have the other successes as motivation during the start up
phase. |
Start up can be
chaotic, energy wasting, demoralizing. Few have the
resources to build a long-term foundation for their business. |
|
Instant branding
("leasing a brand.") Both a national awareness of your company
as well as how to deploy it regionally is offered. Consistency
of advertising and presentation is utilized. |
No branding in most
cases, must start from scratch. Few have experience in what is
required to build and maintain a brand. Most have no
marketing/advertising plan at all. |
|
Instant
"positioning." The franchise experts understand what it takes
to position your business in your community through re-use of
marketing successes from similar places. |
No awareness of
your product's position in the marketplace. People might be
confused about what exactly differentiates you. |
|
Support provided at
varying levels. Some provide more support than others. |
Support not
provided - owner is on their own to make critical decisions
without the benefit of scale. |
|
Business is
somewhat controlled depending on the franchise. Some are better
than others. |
Freedom to do as you
wish. For an experienced entrepreneur this can be a
double-benefit. |
|
Profit sharing and
franchise fees required. Some are higher than others. |
All profits, if any,
are returned to the business. |
|
Some franchises
require you utilize their contractors and designers at your
expense. |
Freedom to do as you
wish creatively. For experienced entrepreneurs this is double
benefit. |
