Being your own boss can be awesome! There are a lot of benefits to working for yourself. It can be challenging and exciting at the same time. Of course, there’s also the middle ground – buying a franchise. This way, you know you’ve got a business model that works, and you won’t be going it entirely alone.
That said, not everyone gels well with the franchising option, and some particularly entrepreneurial spirits might find that franchising is either a fit for their business goals, or not. Let’s blaze through the pros and cons to help you decide:
When you buy a franchise…
- There will be certain rules you have to follow according to your franchise agreement
- You’ll be limited to a particular territory
- You will need to pay ongoing fees and royalties
- You’ll need enough cash on hand to pay the initial franchise fee (although financing is available to cover the purchase cost of equipment, renovations, location improvements and the other stuff that you need to get your business up and running)
But don’t scrap the idea just yet!
Benefits of buying a franchise
- Less risk. Like, way less. Starting your own venture from scratch is notoriously risky. The sad truth is that the vast majority of start-ups fail, usually leaving the owner worse off financially than when they started. With a franchise, you’ve got a system that’s already proved itself to be successful.
- Easier to market. Familiar brands (ya know, like Loaded Pierogi, for instance) come with a certain amount of street cred.
- More support. It’s in the corporate entity’s best interest to help franchisees succeed, so they’ll pull out all the stops to get you off the ground.
- Buying power. Because you're part of something bigger, you can tap into savings solo businesses just can’t.
- Money, money, money… Proven franchise models may offer a pretty sweet return on investment (ROI). That’s right – it’s a great path to get… loaded. Literally.
And when you team up with a great bunch of folks like Loaded Pierogi, you just know there’s gonna be heaps of tasty benefits drizzled on top.
We’re talking about a couple of franchise options to choose from - quick service restaurant, food court,etc – heaps of guidance and support, and most importantly – a solid business model where the margins are delicious, the upkeep is minimal, and the results are super satisfying.
Has the idea of owning your very own Loaded Pierogi got you drooling? Yep, we thought it might!
Head on over to our Franchising page and let’s get you loaded up on all the info you need.