Each and every month, more than 500,000 new businesses are started up, which shows that the entrepreneurial spirit is alive and well. But the hard reality on the flip side of this coin is that more businesses shut down than start up each month. Of all the new businesses launched this year, only half will still be around five years later. Why do this many new businesses fail so quickly?
From what I’ve seen, I believe it has a lot to do with information and knowledge. In many cases, there isn’t an adequate market for the product or service. In other cases, it has to do with not hiring the right people to help the business succeed. For others, it often comes down to cash flow problems. The good news is that all these problems can be avoided if you find the right franchise opportunity.
Information and Knowledge for Franchise Success
The challenges outlined above are what inspired me to start Franchise Chatter back in 2011 – to provide entrepreneurs with the most relevant information about a wide selection of franchise opportunities so they can make informed decisions based on objective data and analysis.
Through Franchise Chatter, I have helped thousands of prospective franchisees identify the most lucrative franchise opportunities, and I’ve seen many lives change for the better through franchising. When it’s time to conduct in-depth research on potential franchises, a paid subscription with Franchise Chatter will give you the information and knowledge you need to make a more informed decision. Click here to learn more!
A Good Franchise Offers Many Benefits
The beauty of successful franchise businesses is how they give entrepreneurs a solid foundation to buy into – one that includes the following benefits:
- Business expertise not required. You don’t have to have a business degree or be a business expert to be a successful franchise owner. The franchisor company has already done the heavy lifting in terms of developing the concept and business model. It’s more about your ability to execute the plan and procedures that have already proven successful.
- Consumer trust. A franchise business comes with more than just the proven concept and business model – the best franchises also carry recognizable brand identities and a solid base of loyal consumers who know and trust the brand.
- Training and Ongoing Support. While every franchise is different, the best franchise businesses provide new franchisees with plenty of training as well as ongoing support to not only get you started on the right track, but also to keep you there. After all, their success depends on your success.
- Better resale value. When the time comes to sell your business, a franchise typically has better resale value than an independent business, because many buyers will pay a premium to be part of a successful franchise.
You can see why a franchise is very attractive to many entrepreneurs – having a proven concept along with robust systems and operational procedures that have worked time and time again for others just makes good business sense. When you find the right franchise opportunity, you have a whole corporate support structure not just cheering you on but actively helping you succeed.
How to Quickly Narrow Down Your Franchise Options
When there are literally thousands of franchise options out there, how do you find the right franchise for you? You have to narrow the field down to a short-list of options, and I have a great way for you to do that with our free franchise matching quiz.
In just a few simple steps, the franchise quiz creates a customized list of franchises that fit your specific requirements based on your interests, how much you have for an initial investment, and other important factors. It hands you the short-list of franchise opportunities worthy of closer examination.
You have nothing to lose and potentially a lot to gain, so…
Take the Free Franchise Matching Quiz Now!
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