When it comes to starting your own business and being your own boss, it has long been known that investing in a franchise increases your chances of success. With franchises covering almost every sector imaginable, franchise resales provide you with a head start and put you well on the way to achieving the lifestyle that you are seeking.
The support provided by a franchise already makes this a perfect business opportunity, but franchise resales take this a step further.
What Are Franchise Resales?
While some entrepreneurs enjoy the challenges that come along with starting from scratch or in launching their own franchise, others see the benefits in sidestepping these. Franchise resales allow you to do exactly this.
Franchise resales are already established franchises that are put up for sale. It may be that someone has been operating a franchise for a number of years, and the time has come to retire. It could be that the franchise owner has simply looked at a change in direction. Whatever the reason, these franchise owners go on to sell their businesses. This means that you have the opportunity to invest in a going concern that still comes with all of the support and guidance that is offered by a franchise.
Why Should I Consider Franchise Resales?
The reasons that franchise opportunities are so popular are clear: they allow you to be your own boss while operating a proven business model that simply works. So why should you look at franchise resales as an alternative? Here are the top 4 reasons which make franchise resales such a great investment:
1. An Established Customer Base And Income From Day One
Investing in a franchise will see you being given support and advice to achieve the best possible start. Your success is closely entwined with that of the franchisor, and so you will never just be left to fend for yourself.
Franchise resales see you getting off to an even better start. With the business already up and running, you have the chance to tap into an already existing customer base and achieve an income from the very first day. With cashflow being a key element of making a success of your business, you have this from the very beginning.
2. Easier Access To Finance
Any franchise opportunity is going to require a level of investment. It is commonplace for potential franchisees to secure some form of funding or finance when it comes to investing in a franchise. Compared to seeking finance for a new start-up business, it is already easier to secure funding for a franchise: lenders can see that you are investing in a business model that works and know that you have a greater chance of success.
Franchise resales are viewed even more favorably by lenders. Not only are you investing in a proven business model, but you are also able to provide proof of what the business has achieved so far. With accounts from previous years, you can present accurate financial forecasts to provide the lender with confidence when it comes to making their lending decision. Whether you are seeking a loan or an overdraft facility, the evidence you can offer is likely to increase your chances of success.
3. You’ll Have Staff Already In Place
A successful business is likely to need members of staff. When you invest in a franchise opportunity, you will be guided and supported through the recruitment process to make sure you have the best staff possible. After all, you are buying a business and not a job. You will be working on your business rather than working in it.
With franchise resales, it is likely that the current business owner will already have staff in place. The benefits to you are that these staff will already be trained and experienced, saving you time in recruiting and training staff yourself. Existing staff are likely to be loyal to the company and will already have a sound understanding of how the business operates and what its goals and values are.
4. Investing In Franchise Consultants
When making any franchise business decision it’s crucial that you have well-experienced franchise consultants by your side throughout all the steps when investing in a franchise resale since it’s always important with any big investment to have professionals around you from the beginning to carry out the right due diligence before your initial investment to start your franchising adventure with your new franchise resale business.
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