An entrepreneur has a number of choices when it comes to starting a business – one can start from the scratch or buy an existing business. Low cost investment business opportunities are in abundance in India and one can decide to team up with a franchisor that already has an existing and established model of business. Being a franchisee, one would be buying the rights to sell products or services under the brand of the franchisor. There are several benefits to this type of agreement. Take a closer look.
Risk is Low ►
The risks associated with a new franchise business are extremely low as compared to starting a business from the scratch due to it’s tried and tested formula of business. Buying a franchise business guarantees greater chances of success as the products and services are already in demand and the business has been successfully operating in other locations as well. Not to forget the continued support that the franchisor offers so that each of its franchises can work successfully and earn huge rewards.
Low Start-Up Cost ►
The start-up cost of a new franchise business in Mumbai is comparatively lower than starting one’s own business since the business idea is already developed and the end-users are already aware of the brand name. In most cases, one would find a pre-sold customer base as well which would have otherwise taken years to build. With a few months of establishment, the franchisee can expect to get 100% ROI and a lot more success.
Marketing Costs Waived ►
There is a huge advantage of buying a big name and brand that is already recognized by the public. It is going to save a lot of expenditure that would be otherwise needed to market the brand, in case of starting a business from the scratch. An established customer base comes along with buying a new franchise business in Delhi or any other city in India.
Security and Stability ►
A new business franchise in Pune offers more security from the beginning, whereas new independent businesses are known to have as high as a 90% failure rate and it often causes the business owner huge losses and in some cases, bankruptcy.
Adequate Support and Training ►
Another amazing benefit that one gets when one decides to work with best franchise is the support and training that it offers to ensure that the new franchisee has no trouble in managing the day-to-day business operations. This is especially needed by entrepreneurs who are new to running a business and has to prior knowledge or experience.
Whether you want to start your own business or buy a franchise depends solely upon you. But before making any decision, it would be better to study the pros and cons of both the business model in order to make an informed choice. You should also do a thorough market research and analyze your own strengths and weaknesses for better results.