When deciding to start a new business, there are many things to consider. Location, experience, interests, financial ability are just a few things on the list. This process can be overwhelming, and many people decide to research the franchisee interested in a traditional start-up company. There are several reasons why a franchise should be considered over a traditional startup and these are the most important:

1. Franchises use an established concept and brand. This is probably the most important factor about buying a franchise. You will have a much better chance of survival if you own a well-known brand franchise. Statistics show that nearly 70% of new businesses fail in the first year of business, while only 10% of franchise businesses fail in that very first year of business.

2. Franchises are basically “business in a box”, which means that everything has been thought out for you and you simply follow the instructions to make your business successful. Franchisors have been effectively developed to quickly start your business and quickly generate local exposure for your business.

3. Receive ongoing training and support from the franchisor. It is extremely important to have ongoing mentoring and training for as long as you are a business owner. It’s very easy to get frustrated and discouraged when running your own business, so constant support and encouragement is crucial.

4. Expandability is the final reason to consider a franchise. As long as territory is available, you can continue to grow your business with multiple locations and greatly increase your cash flow and wealth. Most truly successful franchises have multiple locations.

I hope this short article has provided you with useful information on the advantages of buying a franchise over a new start-up business. Just remember that it is always much safer, easier and more profitable to opt for a franchise.