Grow Business

Growing your business with franchising

Growing any business is difficult, but the factor that prevents many entrepreneurs from growing is funding. Finding investors can be challenging if you can offer them very little in return for their investment. This is where considering alternative methods of funding can be useful. Franchising is something that many large global chains have done to grow their brand to where it is today. It allows small businesses to continue to grow both their brand awareness and their profits without having to find additional capital. In short, it can help your company to expand without accumulating debt or forfeiting any equity.

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The risk-free way to expand

Some people find the concept of franchising and responsibility confusing, but it does essentially offer business owners the opportunity to sign over many responsibilities to franchisees. Franchisees are responsible for funding rental costs for premises, signing leases and various other contracts. This means your company is essentially given the opportunity to grow by using the capital that is invested by franchisees. Your company and brand can grow by franchising and cost you less than opening an additional location owned by your company – this also minimises the risk to your company’s capital and assets.

Grow quickly and establish your place in the market

One benefit of franchising is that it allows your brand to grow quickly, particularly if several franchisees are on board. This helps to establish your place in the market faster and helps to prevent larger competitors from capturing your positions. Franchising will allow you, as a small company, to compete against larger businesses and saturate a market before they have the opportunity to do so.

Greater profits with less responsibility

Franchising means that your company can grow without much intervention from you. Franchisees are responsible for the hiring of staff and other HR practices, securing sites and leasing, organising payroll duties, and marketing your company in the local area. This means that the profits that you receive are much more clear cut, with the majority of expenses being the responsibility of the franchisee. This allows your company and brand to grow without you having to worry about the additional costs that come with opening another business premises.

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