by Jan Van Gils
If you want to start your own business with a certain degree of security, franchising is the way to go. The risks for the franchisee are much lower. For example, you no longer have to invent the brand yourself and you can rely on the expertise of a strong player. Wondering if franchising is right for you? Here are the top five benefits.
Those who choose franchising start out as self-employed rather than as employees, which is usually the case with store managers. However, the risk is significantly lower than with other starting self-employed persons, because many franchisees have gone before them. The concept is therefore well known and has been tested many times. If you go to a bank, you will also get a loan more quickly, as the chances of a financial setback are limited in franchising.
As a starting franchisee, you will have the support of a larger network right from the start. The franchisor will provide you with the knowledge and expertise you need, and ensure that the brand is always up to date and innovative. This gives you more time to focus on your business.
The group you belong to has probably negotiated some interesting price agreements with its suppliers. As a franchisee, you can therefore benefit from economies of scale in the purchase of merchandise and raw materials. Overhead costs, such as marketing, are also spread across the franchise chain.
With franchising, you don't have to worry about building a customer base. This is because the franchisor has already built up a good customer base in the past and you can benefit from this. As a franchisee, you don't have to invest in brand awareness and that gives you peace of mind as a new entrepreneur.
Anyone who relies on Vandelanotte will be guided by our experienced specialists in every possible area of business. We will help you develop your strategy and support the cooperation between franchisor and franchisee. So you can be sure of a successful start, even if you are starting out on your own for the first time.
Would you like to know more about franchising or are you dreaming of owning your own business? Contact one of our specialists at contact@vdl.be or fill in the form below.
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Jan Van Gils
Certified Accountant jan.vangils@vdl.be
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In our opinions, we rely on current legislation, interpretations and legal doctrine. This does not prevent the administration from disputing them or from changing existing interpretations.
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