A franchise is a right or license granted by a company to an individual or group to market its products or services in a specific territory. The franchising has been around for years and because it can be a great way to start your own business without needing to do a lot of the footwork involved in building your own brand from scratch.
Both new and seasoned business owners buy into franchises every day, often spending hundreds of thousands of dollars at startup. The payoff can be rewarding, offering generational wealth when operated correctly.
So, is a franchise easier than starting my own business?
There’s no doubt that starting a business is hard work. At one point, you are forced to become well-versed in more areas than you’ll ever care to, including labor laws, contract law, accounting, human resources, marketing, collections, customer service, insurance, and more. Adding to that, you must know how to operate your business after figuring out how to start it in the first place.
These are daunting tasks that feels next to impossible to accomplish. Franchising a business, however, can help eliminate a lot of the guesswork because the existing business already knows the in’s & out’s of its industry. This means that it’s no longer necessary to learn how to choose a professional logo designer or even create a business plan from scratch. Instead, you can rely on your franchiser to provide templates and guidelines.
Why would I want to build someone else’s brand instead of my own?
This is a very common question we receive. Well, think of it this way: if you’ve ever eaten at a fast food restaurant, chances are you were actually dining in at a franchised location. You and every patron in there paid the franchisee without second thought, never considering who actually owns the restaurant! Owning a franchised location allows you to benefit from the strong branding already provided to you by the franchise. Instead of worrying about creating logos and establishing your dominance in your industry, you can focus more on finding the best location and benefiting from the franchiser’s marketing materials.
Why franchise with CreekStone Academy?
Upon joining the CreekStone Academy Franchise, you are guided by passionate, experienced professionals with over 30 years of experience and an understanding of both the development and operational aspects of a successful child care center.