While many entrepreneurs wish to embark on new and exiting projects, some choose the franchising route, and for good reason. Here are 3 benefits of franchising:
1) Standardized Operations
Operation management and sourcing can take a lot of time, money and effort to get right. Franchising allows branches to emulate the successful flow of operation without the headache of searching for what works best for a business. While some branches might need some changes or tweaks, operations tend to be mostly similar for all branches of a company.
2) You know it works!
It's been done, you know it works...you just gotta get started! From machinery to products to staff training, these processes and activities are often easily applied throughout a franchise's branches, making it easy to setup and run a new franchise semi-dependently on the mother company.
Franchises are often easy to scale as mass sourcing of products and services equal to reduced costs. While there may be varying costs such as land/space rent or purchase prices, most costs tend to be the same throughout all franchises, making it easy to plan and predict expenses.
All the best.
Your JP Team.