With baby boomers getting set to retire, and with unemployment at levels unseen in decades, many are looking to the next season in their lives. One option with growing interest is taking more control of one’s future through small business ownership, specifically with franchising. And there's no better time to look at being your own boss than during National Small Business Week, May 17-23.
Steve Goble, vice president of marketing communications for Annex Brands, a franchisor of the PostalAnnex+, Handle With Care-Packaging Store, Sunshine Pack & Ship and SPS Moving brands, said franchising offers a great safety net in starting a new business. He offers the following advice in regards to franchising.
Why choose franchising over starting an independent location? Franchising offers prospects several advantages:
- A franchise model is a tested model; it can save you from an expensive learning curve.
- A franchisor offers support in many areas of your business which you may not be able to master without larger support, including creating helpful operational and marketing programs.
- A franchised system creates economies of scale with other franchisees, often leading to better discounts with suppliers.
- A franchise may offer instant brand recognition in a market, bringing in customers more quickly than if you have to educate them in what you do.
- Lenders may afford franchises more favorable terms due to a better-known path of experience.
- A franchise offers a peer network where you can share ideas and opportunities, and ask questions relating to your business as well.
- Franchises may set forth a more defined level of investment required to start a business.
There also are some structured aspects of franchising that don’t always appeal to independently-minded business people:
- Franchisees agree to adhere to defined rules and standards as part of the relationship.
- Franchisees might be limited in the products and services they can offer to the public.
- Fees, such as royalties and marketing fees, must be paid to the franchisor for their support and programs.
For more information about Annex Brands, please visit www.AnnexBrands.com.
Contacts:
Annex Brands, Inc.
Kelsey Fullerton, 619-563-4800
Marketing
Communications Coordinator
kfullerton@annexbrands.com