5 Reasons to Franchise Your Business

If you are a business owner and you are considering expanding your business, you should really think about what franchising can do for you. You have to consider what you want when it comes to selling and whether you are going to get the money that you want from the business that you have built.

You have spent time building and whether you are a dental clinic looking to franchise with Medifit Design and Construct to build your new space, or you are looking to try and get set up yourself, you need to make some key decisions. Consider what you can get from franchising by looking at the five reasons you should go for it below:

  1. You can scale your brand. The obvious reason that you want to franchise is the fact that you can really scale up on your brand. You’re going to be able to own a trademark or symbol and someone else will operate under your license. It’s a good way to spread your brand and business reputation while giving someone else the shot they want to run a business they believe in. You can grow without opening every single store yourself, and that’s the goal!
  2. You get access to more capital. A retail business will usually take a substantial amount of capital when they are opening an added store. You need to do so much on your own if you grow your business without a franchise, such as putting together a store fit out and thinking about a bank guarantee for the lease. There is so much to consider, and it doesn’t have to be that way at all!
  3. You can limit your corporate rollout risk. As well as overcoming the barrier of accessing capital, you can overcome some significant issues that most businesses face when they are expanding internally. You don’t have to worry about payroll tax and staff management or site selection, because someone else wants to do it for you.
  4. You can really increase your market power. When you allow someone to buy your brand and share it around, you will find that you can increase your brand power in the market and that’s exactly what you want to do! You want to negotiate better and that means ensuring that your brand is seen. That’s what franchising does. 
  5. You up the resale value. When you are franchising, you might be able to sell off some of the business at a higher rate because it will be better valued as a result. Your business brand is going to soar because you have the exposure that you’ve been trying to get for many years. You could even establish your brand overseas by simply ensuring that you have the right license agreement in place. 

Making sure that you change your business for the better is so much easier when you franchise and allow someone else to help you to carry your brand for you. It makes a big difference to your bottom line!

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