The 5 Most Common Franchising Myths

With any business opportunity there are myths that can confuse and misinform people around good opportunities, sometimes this can put someone off a great opportunity just since they heard some false information about it. We have written this article to help you understand the most common myths around franchising that you should know to make an informed decision before buying a franchise.

1.) Franchises are more expensive than starting a business

This is one of the most common myths about franchising and puts a lot of people off buying a franchise since when people think about franchises they usually think of the most common names such as McDonald’s, even though there are many very reputable franchises for sale out there that cost a lot of capital to invest in there are also some very good low-cost franchise opportunities that can be bought with less capital but still allow you a way to make a good income.

2.) To buy a franchise you need previous experience in the chosen industry

This is another very common myth around franchises, certain franchises will require previous experience however most franchises will not require previous experience to run the franchise business this is why franchises are an amazing business opportunity for aspiring business owners since there is low barrier to entry.

3.) Buying a franchise does not mean guaranteed success

Even though franchises are proven to have higher success rates than independent businesses a lot of people think this means guaranteed success which is not true. No business opportunity can guarantee success but buying a franchise has been proven to be much safer than starting your own business from scratch.

4.) The franchisor will run the business for you

Even though you receive a lot of support from your franchisor, the franchise business is still your business meaning you cannot rely on anyone to run the business for you but yourself, this is why many people like the idea of buying a franchise as you get to run a business with support. However, be sure to remember that the running of the business will be on you with the support that you will require.

5.) A franchise will be profitable without hard work

As much as we would all like this to be true at the end of the day you need to work for your money just because franchises have higher success rates that does not mean franchisees do nothing, in fact, most franchisees work very hard to deliver a good service to their customers so it’s unfair for people to think franchisees are lazy just since they did not start their own business from scratch.

Thanks for reading!

We hope this has helped anyone looking to find out more about the myths around franchising also we hope this has helped clear any misconceptions around franchising for anyone looking to achieve their dreams of becoming their own boss and run a successful business through starting a franchise. If you are looking for more information about franchising before investing in one of these exciting franchise opportunities consider browsing our other articles under our franchising news section.

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