10 Advantages of Buying a Franchise and How to Decide If It’s for You

If you want to pursue entrepreneurship but aren’t sure how to get the ball rolling, investing in a franchise may be the right path for you. Learn more about the advantages of buying a franchise business to achieve your career goals.

Small businesses are the backbone of the American economy and striking out on your own is a dream for many hard-working Americans. Last year, more than 5 million small business applications were filed in the U.S., and there are currently 32.5 million small businesses providing employment and a satisfying future. Owning a business allows you to take charge of your financial future and control your own destiny.

But starting a business from scratch can be a risky venture. Nearly one out of every five businesses fail after the first year, and up to 49% close their doors after five years. Insufficient capital, poor management, and failure to connect with a target market all help contribute to the high failure rate of new businesses. Failing to innovate as technology evolves and the market changes has led many companies to shutter their doors. Blockbuster, Tower Records, and Toys “R” Us are just a few big players that failed to withstand the test of time.

Franchising Limits Risk, Offers Stability

Franchising provides entrepreneurs with a business that has a proven track record of success and a game plan to follow. Here are some of the advantages of buying a franchise business.

1. Low failure rate. A franchise business has established processes in place. Franchise owners are required to follow the system and guidelines established by the parent company. While some business owners may balk at following a set of rules, it helps lower the chances the new venture will go out of business.
2. No experience required. Franchise owners do not need experience to get their brand started. The franchisor provides ample training and support to ensure new owners are ready to hit the ground running.
3. Low-investment options. Starting a business can be expensive. Securing real estate, purchasing inventory, marketing, and hiring takes both time and money. The franchise industry offers a variety of opportunities at a range of price points. Sure, you can pick a $1 million big-box gym or a car rental location with a hefty price tag. But opportunities abound for under $50,000. Being able to become a business owner without putting a dent in your retirement or taking out unsecured loans can speed up the path to profitability and minimize risk.
4. Brand awareness. One of the advantages of buying a franchise is operating a recognizable brand. Franchise owners pay a premium to own a business with a built-in customer base.
5. Ongoing support. Technology, customer trends, and current events require businesses to stay abreast of new developments to remain relevant. Franchisors have the resources to help your business thrive by making ongoing support and training a priority.
6. Scalable opportunity. Franchise businesses are designed with growth in mind. Franchise owners purchase the rights to a specific territory and can add units on their own timeline. For some franchise models, drumming up additional business only requires hiring extra staff to serve more customers.
7. Access to financing. Operating a proven business model often makes it easier for new franchise owners to secure the financing they need to get started. Many franchisors also have relationships with lenders to streamline the financing process.
8. Peer network. Not only do franchise owners get access to financial protections in the franchise disclosure document, but they also join a group of peers with experience to help guide them on their journey. Being able to pick up the phone and ask a fellow business owner a question is invaluable as your business gets off the ground.
9. Marketing guidance. Building a loyal customer base can be a challenge for entrepreneurs. Most franchise owners contribute a percentage of their profits to a marketing fund designed to help promote the brand and secure new clients. Having franchise marketing support helps franchise owners free up time in their daily schedule to focus on the day-to-day operations of their business.
10. Flexibility. Being your own boss allows you to call the shots. You control your schedule and workload. Franchise ownership offers work-life balance and flexibility. Many low-investment opportunities can be accomplished from the comfort of a home office, which allows you to make time for date nights, youth sports games, and dance recitals.

Tie the Knot With Complete Weddings + Events

Complete Weddings + Events has been helping brides say “I do” for more than 50 years. We are one of the nation’s largest wedding and event planning franchises, with locations operating in more than 110 territories across the country. The company provides all-in-one customized and designed service packages to meet the wedding or event needs of customers, including video, photography, DJ, photo booth, and more.

For a low initial investment of $56,820 to $71,070, while taking advantage of our limited-time Incentive Program, franchise owners have access to the company’s network of experts to secure customers. Complete Weddings + Events focuses on a variety of special occasions to enable owners to have a year-round business model to provide consistency. All owners initially need to get started is high-speed internet and a home office.

To learn more about the advantages of franchising and snag a piece of the $72 billion wedding industry, fill out our Franchise Inquiry form to request franchise information from Complete Weddings + Events.