Have you found yourself sitting in a coffee shop racking your brains for the next best idea since sliced bread? Thinking of a concept which will make you millions... Well, that coffee shop might just be the big idea!
When you become a franchisee, you purchase the right to operate a business under the franchisor's name & system. In return, you receive a successful structure for launching, operating and growing a business; as well as a comprehensive operations manual and training programs that cover marketing, operations, accounting, and technology.
The franchise organization model offers the franchisee the ability to grow under a common brand and share benefits from a large group of business owners. Although each business is independently owned and managed, there are collaborative benefits within the organization such as;
- Group advertising resources
- Permanent franchisee training and assistance
- The benefit of a recognized brand, trademark, and products
- Training from successful business operators
- A lower risk of failure/or loss of investment than starting your own business
- Operational support before & after opening
- Being a part of a uniform operation - Interior, Uniforms, Product Quality, Service, Pricing etc.
Franchising offers a higher chance of success
According to studies some $25 billion was spent on new business in the Middle East in 2012, a large percentage of which was within the franchise market. There are many reasons why the Middle East is becoming such a ripe area for franchising. With a largely young and ambitious population, many are keen to take on the challenge of owning their own business or expanding the ones they have already built. In short, the good news is that franchising makes up a significant part of the local economy and presents a statistically better chance for success than other business options. Source Here
The Freedom Factor
As a 'franchisee' there are three common elements when choosing a franchised business:
Flexibility - Freedom becoming your own boss
Money - Generating your own income
Status - Your title, position and becoming part of something significant
Owning a franchise can provide you with all three of these elements if you operate the business successfully and manage your time and resources properly.
Happy Franchise owner = More money!
The common phrase "If you love what you do, you can't help but succeed!" comes with a lot of truth. If you can find a franchise that suits you, your needs and passions then you'll be much happier which in turn results in higher productivity. Don't lose sight of this reality during the fast growth stages.
Think about it: If the franchisor understands that it's the franchisees which are the heart and soul to their success -- And if the franchisees are happy then they will generate more money -- which will build on reputation & be a win-win for both parties.
What are you waiting for? Are you ready to evaluate franchise organizations and find the right one for you? Francorp Middle East has a diverse range of concepts, whether you're looking to own your own petrol station or a fully fleged restaurant then we have it covered. Contact us today to find out more!