Ambitious entrepreneurs dream of opening a business, of being their own boss, and of making a difference through their business. How you start the business and what resources you use are decisions to be made along the way? The strategies, branding, and structure of your business will, naturally, be shaped by the opportunities and business model you build to become your business. As a savvy business person, you know that you'll be building your business structure based on the best choices available to you.
That is why so many entrepreneurs choose to open a franchise instead of starting from scratch. Franchises are individually owned businesses using a template business model from an already established and successful brand. The business owner is still the head of their company, running their own team and calling the shots, but the resources available to a franchise are far greater than those available to a solo small business. If you're in the market for startup opportunities, a franchise could be exactly that leg-up you're looking for into becoming a successful small business owner.
The key is to seek success by following the best opportunities for your chosen career path. This is why so many businesses choose to open a franchise, taking advantage of the resources and marketing fast-track available when you become part of a larger franchise brand. There are many franchise opportunities and paths to success for business owners who know how to make use of the resources available.
Own Your Own Business
The most important thing for a new franchisee is that you are still the owner of your own business. Opening a location using a franchise package is like setting up a tent at a campsite. You don't have to build your own lean-to or sew your own tent to enjoy a camping trip. You're still doing the camping, the prepared business package just makes it easier to get started.
As a franchisee, you are the business owner. You build your own team and manage your business in the ways you see fit. The franchise package simply provides a template to work from - a business model that you know has succeeded in other locations.
Build from a Recognizable Brand
Branding is often one of the biggest challenges for a startup business. No local customers have heard of you and they don't know what to expect. Franchising is like a marketing shortcut for building your brand and generating awareness with local customers. Instead of spending your time and marketing capital on letting the community know that you exist, you can jump right into welcoming customers who already know what your business is about.
A recognizable brand makes it easy to build awareness because the locals may already know what the franchise brand is about. The franchise also helps smooth out any standard questions about the variety of services you offer and your client management policies. Customers can trust your business because they trust the parent brand.
Working From a Proven Business Model
Of course, the primary reason why business owners open a franchise is for the included business model. Take a brand that has had proven success in multiple other locations. Measure how old the brand is to determine the longest its business model has been proven successful in at least one instance. Then investigate the other franchisees (business owners with a franchise location) to see how they are doing. As private business owners, some sink and some swim. But does this business model improve the rate of success for other new businesses,? If so, you've got a business model template with a track record for success. Implemented with skill and dedication, your company can also make it past the 30% failure curve standard for small businesses within 5 years.
Fill a Niche in Your Community
Often, a franchise is an opportunity to fulfill a local demand. If your town doesn't have a retail clinic, opening one could really help local families and fill an empty niche in the community. If your neighborhood doesn't have a senior services brand, opening one can help fill local from seniors who need help at home. Here at Caring Senior Services, we strive to fill the senior home care niche in any community where a franchisee would like to open a location. This vital service allows you to become and important and contributing member of the business world while improving numerous lives around the community.
Filling a niche is not just rewarding, it's also a clear path to success as unfulfilled demand is a powerhouse for a new local business.
Take Advantage of Business Resources
Most franchises offer more than their brand and business model handbook. They also have a deep well of resources to draw from when your business needs guidance or a boost in the right direction. Promotional materials, expert advice, access to business coaching, and even back-office business services can be part of the total franchise package. If you know how to ask, you can gain access to even more resources than are officially included in your franchise deal. After all, the home brand should want you to succeed and help provide any support resources will help make that happen.
Increase Your Chance of Small Business Success
Lastly, working a proven franchise model can increase your chance of small business success. Approximately 70% of small businesses are no longer in business after 5 years. However, you can dodge into the surviving 30% by planning for the future. A franchise run aptly by a good team with a strong leader has a higher chance of success because the business model is proven. If you choose a franchise with a good track record for successful franchisees, you can jump on that train and significantly decrease your own potential business closure rate.
Are you ready to start your own business and make a difference in your community? We're here to help make it happen. Here at Caring Senior Services, we believe every franchise owner is the captain of their own ship and has a unique perspective into the needs of their community. With our franchise, you can begin building your own senior services network to help those around you and build your business ownership experience. Contact us today to consult on your senior services business plans.