What are the advantages of franchising?
A. They are numerous. Because franchisees incur the costs of opening their own unit, franchising will allow you to expand your business without expending significant capital per unit. Keeping your costs low per each unit reduces your risk while increasing the overall return on your investment. Franchising also allows you to grow your business on a much faster level than you would generally be able to do on your own. Additionally, not having to manage each unit on a day to day basis will allow you to devote more time to developing your brand and strengthening its presence in the marketplace. Many other advantages exist, including reducing your exposure to risks relating to signing leases, additional financing and vicarious liability for employee acts. If you are interested in franchising a business concept, you should refer to our questionnaire. See: Can Your Business Be Franchised?
