Starting a new business can be expensive. When you build from scratch, it can be particularly daunting; beyond your real estate investment, you have to lease or purchase any equipment you need and launch a new brand into the world. Between your need to build a customer base and your costs required to open your doors to the public, it may take months or even years to start turning a profit.
Franchising helps you launch more quickly and more effectively. Beginning a new franchise still requires capital investments and other startup costs, but the model eliminates several startup costs and lets you start on higher financial ground than a new company does.
Equipment and Inventory Costs
Although you still have build-out and inventory costs when opening an Experimac franchise, you can be rest assured that you have an established behind through every step from opening your franchise and throughout the life of your business.
The benefits of a franchise vs. starting a new business from scratch is that you have an established brand to stand behind, you can take advantage of their proven methods, training, and ongoing assistance. All of the trial and error and guesswork have been removed when you open a franchise vs. starting your own concept from scratch. When you invest in an Experimac franchise, you’ll have a great franchisor, United Franchise Group, behind you every step of the way.
When you purchase a franchise, you gain the benefit of market research performed on the corporate level. The parent company, United Franchise Group, generally identifies the locations in which it would like to operate based on careful analyses of market data and prospective customer demographics.
When you start a company from the ground up, market research firms often charge exorbitant fees to help you identify and advertise to your core customer base. A franchise gives an early boost to your efforts. You not only have an audience in place for your name and products, but also have much of the groundwork done for you, saving time and money in your startup efforts.
Perhaps the most significant startup savings that you can achieve by opening a franchise come in brand building. United Franchise Group has already invested significant capital in creating, building, and spreading the brand through which your franchise will operate.
This saves money in two important ways. First, the cost of reaching out to educate people on your brand can be substantial when you start from nothing. You not only need to advertise your existence, but also must educate the public about what you do and sell. Second, you spend a great deal of time and energy preparing a marketing plan and marketing through different channels to create awareness that already exists for a franchise owner. All of this is time you could otherwise spend preparing and opening.
A franchise thus gives you the opportunity to launch sooner with a known entity—and with it, the ability to start working earlier for return on your investment.
Making Your Investment Work for You
Starting a franchise does include up-front costs, including sufficient liquid assets to cushion your startup capital. Still, working with a trusted name through a franchise saves significant money at the beginning and gives earlier opportunities to hit the ground running.
There is significantly less risk and lower startup costs when opening a franchise than when starting from the ground up with your own business. To find out how you can benefit from opening a franchise with Experimac, contact us today!