What Are the Advantages Of Buying A Franchise
as Opposed to Starting a Business from the Ground Up?
There are many advantages of buying a franchise
Not the least of which are the positive statistics that back up your decision with proven success rates. According to the NatWest/FBA Franchise Survey in 2009, the franchise industries in the UK are now estimated to be worth £11.4 billion, and estimated start-up costs have continued to decline.
Additionally, the U.S. Department of Commerce reports that less than 5% of franchises end up discontinued each fiscal year.
The same is not true for independent businesses: the U.S. Small Business Administration notes that 8 out of 10 new businesses fail within the first three years of their openings.
Dun & Bradstreet, the world’s leading source on commercial information, report that businesses with fewer than 20 employees only have a 37% chance of surviving four years of operation.
With a franchise, you have the convenience of buying an established, proven business plan
A clear brand image, and the support of the parent company. What you might not know yet are some other great resources supplied to you when you own a lucrative CoLaz beauty salon franchise.
Some of these advantages of buying a franchise through CoLaz include:
- Limited risk - Our business is not a new one but a tried and tested venture that has been successful elsewhere
- Inclusive training – CoLaz will provide you with extensive training and advice. All of your training is handled by brand owners so your store is hands-off and you can focus on managing.
- An established corporate image - Our brand, trademarks, designs, have already been protected and secured in the marketplace
- Savings in time - Our business model is already in place and you can focus on running a successful business
- Economies of scale - It will be cheaper to obtain supplies when you need them
- Customers – Many are already familiar with our brand and trust it more readily than independent competitors
These benefits and many others can make anyone want to open a franchise and start making money for themselves today.
However, some qualities that can lend themselves to your success should you choose to journey with a CoLaz salon franchise are:
- Energy and commitment to the brand and customer—a franchise may not be for you if you like to move on to many projects one after another
- Effective customer service—a salon or any other type of service industry store assures that you will be working with people of all sorts, some thrilled with your services, and some possibly not
- Prior business, management, and/or salon experience. CoLaz will train based on your existing knowledge of the industry and your needs, but having some background in business can certainly be an added asset.
Now that you understand the advantages of buying a franchise with CoLaz, contact us today by filling out a simple inquiry here.