- Fantastic Team
- 3min read
- Published: October 15, 2020
- Views: 66
Franchising ISN’T a risk-free investment
If you ever looked into franchise opportunities, you definitely came across some advertisements, saying that franchising is a risk-free model. Sadly, even big franchisors try to attract future franchisees by advertising their business model as a risk-free investment.
Ugh! We are so fed up with this!
We’ve always prided ourselves as a transparent and honest company. That’s why we couldn’t stay silent but say: “Franchising IS NOT a risk-free investment.”
Yes, we are franchisors. Actually, we’re one of the biggest and surely most technologically-advanced property-maintenance franchise companies in the UK.
Are we foolish by claiming the statement above? The answer is, we’ve always strived to attract smart investors who’re aware of the fact that there’s no such thing as a “risk-free investment”.
- In franchising, just like any other start-up, you have to fight to survive.
- Running a business and people management is not for everyone.
- Yes, you get the know-how, but no one can promise success.
Still and all…
Franchising reduces the risk of going into business on your own.
Considering the fact that about half of the independently-started businesses are no longer trading after five years, we can definitely state that franchising is a less risky road to owning a business.
The level of reduction in risk depends on how experienced the franchisor is, how well-proven the business model is, as well as the amount and quality of training and support franchisees receive. For a properly prepared franchise, however, the risk of failure is much lower compared to going into business on one’s own.
How to recognise a properly prepared franchise?
- Brand recognition and loyal customers – this is one of the main indicators of whether or not a franchise is worth joining. Always examine the customer reviews on Trustpilot and similar websites.
- High-quality training and ongoing support – a good franchisor offers full training and continuous support. We, at Fantastic Services, for example, offer both online (Fantastic Academy) and on-site training. We’re not just selling our name and then disappearing. We provide coaching and continuous support for our franchisees.
- Technology & automation – huge, if not the biggest advantage of joining a properly-prepared franchise is that you get access to systems and platforms that help you manage your workflow and decrease the probability of potential damage.
- Marketing, accounting & legal support – being part of a franchise that offers a strong support performance significantly reduces the risk of failure. We, at Fantastic Services, have a large number of in-house experts in a variety of administrative functions, including accounting, IT, legal support, franchise consultants and more.
We’re giving ourselves as an example because we think of our company as a well-prepared and recession-proof franchise. We’ve not once proved that we put our franchisees first. We’re ready to survive whatever the world will be facing next because we trust each other and we’re honest and transparent.
Explore our franchise opportunities! Join the Fantastic Family in the UK, Australia and the USA, or bring the brand to another country.Learn more
Remember – joining a franchise is just the beginning.
Many franchises are often advertised through the misconception that once you’re done with the research, found the right franchise and paid the fee, everything else will be handled for you. Well, if you believe so, you fell for a sneaky marketing trick and you’re doomed to fail. Joining a franchise doesn’t mean that you can just sit back, relax and watch your business grow. You still need to put a lot of effort into your business.
In order to achieve success, you need to treat your business like a baby. Just like any little human, your business needs constant attention if you want it to be healthy and growing. If you’re a parent, you know how great it feels to get a little bit of help in looking after your child. However, you need someone who you can trust. Do you feel where we’re going with this? If you’re joining a franchise, you need to trust your franchise partner!
That’s why we always try to be as transparent and honest as possible. How many other franchisors will tell you: “Franchising is NOT a risk-free opportunity”. Silly us, right? Well, we might not attract another franchisee with this post but we keep our promises and feel proud that today we busted the myth of all “risk-free” franchises.
- Last update: November 4, 2020
Posted in Industry Insights
Fantastic Services manages 25+ professional home cleaning and maintenance services, provided within the UK, Australia and the USA. With 10+ years of experience behind our back, and 400+ of successful franchises, we continuously set the bar higher with our cutting edge technology implementation and marketing approach. Explore our business opportunities on the main website!