Benefits of Franchise
Franchising offers an excellent opportunity for you to be in business for yourself. When you hear the word " Franchise" you probably think of fast food restaurants such as Burger King, McDonald's or Wimpy. But the truth is Franchising is so much wider than that.
In simple terms, franchising is where a successful business format is replicated. This will involve the setting down into an operations manual all the systems and procedures that the business owner has found gives them the best chance of success. Anyone joining the franchise will be expected to operate the business exactly as set out in the manual.
There are franchises available in almost every business area that you can think of in all price ranges. In addition, because franchising has such a low failure rate, your chances of success are extremely good.
So let’s have a look at the benefits of franchising
Better chance of success
Research has shown that of all businesses starting today, only 20% will still be trading in 5 years time. With franchising these figures are reversed. The reason for this represents the other benefits of franchising.
A Proven Business
With franchising you are buying into a business that is already operating. The Franchisor will have made mistakes along the way and will have learnt from them. This knowledge is passed on as part of the franchise system. It enables you to start your business at a much higher point on the learning curve.
Within a franchise there is or should be a great deal of help and support available. The support that you will need will change as your business grows. From day one you will need training and will be reliant on the Franchisor. As you become established, you will benefit from different types of support such as staff training and National account business. It may well be possible to collaborate with other franchisees on larger projects and just being part of a larger organisation can help
From time to time you are going to hit problems. Your Franchisor should be able to provide you with the necessary technical support. However it is invaluable to be able to talk things through with other franchisees, or the support team who may well have dealt with the same problem recently.
Many Franchisor's will hold review meetings with you to discuss all aspects of the business. You will be able to check your progress, celebrate your successes and plan for the future. Many businesses have failed in the past due to lack of good business advice.
Product Research and Buying Power
As part of a franchise network much of the product research and testing process will be carried out for you. It is also possible to take advantage of group buying discounts
I have had the pleasure of working with many companies on various projects and I must say that Burkina Electric & Construction is one of the best organizations I have worked with in the industry. When we started our project, your team reacted immediately to bring our vision to life. The follow-up and detail was superior. Your understanding of our goals and concepts were demonstrated time and time again. I know that we will be working with you again in the future and appreciate your professionalism and commitment to quality and execution.
“As a professional General Contractor that works with a very demanding, intelligent, and informed clientele, we have to associate ourselves with subcontractors whose policies are the same or very similar to ours. We have worked with Burkina Electric & Construction since their formative years. Their emphasis on professionalism, technical know how, concern for the client. We rely on their input when it comes to the very challenging projects that we encounter. We continue to use them and highly recommend Burkina E and C when asked.”
I’m proud of what we all did together. I know your designers create something in our head and on paper, but it takes a special Tech to execute that vision… and do it so well!
I want to personally thank you and your team for your outstanding efforts. I know you had many roadblocks in your way on this one, but you managed to persevere and overcome all of them. Your onsite team were and continue to be a pleasure to work with and truly understand the meaning of can do and customer satisfaction.
When we bought our home, we were alarmed to discover that it wasn’t level. We wanted to do some remodeling, but needed to address this issue first. Burkina E and C, assured us that they could raise the house, replace all of the piers and posts – without damaging the plumbing or the heating ducts. They were right! And the project was completed on time and on budget. It was a very positive experience and everyone on the project was easy to work with. We’ve recommended their services to friends and will continue to do so.