Benefits of Buying a Franchise
Earn what you are worth
Thousand of franchise owner report they were handicapped in their corporate careers by Company policies and Superiors that put a cap on their earning. When you own your own Company, your efforts are rewarded and your personal income shows it!
Financial strength comes to those who succeed in running a business. Approximately 95% of all millionaires in the Philippines own their own business. If great wealth is one of your goals, entrepreneurship is the answer.
Satisfaction of achievement
Much business owner report that seeing their actions turned into realty without stagnating for month in committee meetings as so oft happens in big companies is a major reward of owning their business.
Choose your own job description
When you’re the owner, you can delegate certain aspects of the business to others and create a job description that suits your personality, skills and interests. Naturally, the industry you choose and the size of your operation will affect your flexibility in this area.
Control your future
Business owners live the scripture “you reap what you sow”. You can manage your work schedule against family needs and recreation – if you’re willing to share some profits with additional employees.
Never transferred, laid off or fired
Major companies are notorious for relocating their employees and downsizing their staff at the most inopportune times! When you run your company, you’ll decide when and where to operate.
Why a franchise?
There are many reasons why franchising is the best type of operation for the majority of first time business owners. Most revolve around the increased probability that the business will succeed and provide profits to the owner in a shorter time frame than an independent business. This allows the owner to address her/his personal goals both financially and personally.
Lower costs than an existing business
When buying an existing Company, you often don’t know what you are buying or if the price is right or the existing business profitable. Starting a franchise is almost always less expensive.
Less risk than an independent start-up
One spends up to 5 years in an industry before considering owning a venture in that field. Buying a franchise eliminates this need and puts you on the road to success quickly.
Gain advice on site selection, design, operation, capitalization and marketing
A good Franchisor provides instruction and support on all aspects of running a business in its industry.
Receive a proven profitable system for doing business
When you’ve had a chance to talk to other Franchisees, you’ll recognize how important it is to have a system to follow for your venture. This plan is easily worth a few hundred of thousands of Pesos or more.
Benefit from quality research and development
Most small business owner are just too busy making money to research the future trends in the industry and develop new products or services to meet the needs of their customers. A Franchisor will always be searching for ways to make its network more successful.
Access to trained support personnel
Your royalties and advertising fees provide regular improvements in the Franchisor’s systems and these are provided to you for implementation in your venture.
Quicker start-up than independents
A proper plan outpaces an independent’s hit and miss operation almost every time. Looking at just independents that succeed – you’ll find that franchises grow quicker, reach break-even sooner and succeed more regularly than others in the same industry as depicted in the accompanying chart.
Source: Philippine Copyright by Rudolf A. Kotik[ Go back ]