The dream of running your own business is one that entices many young entrepreneurs. There are two major approaches to business ownership: franchise or independent business.
Both independent business owners and franchise operators have a drive, desire for autonomy, and a spirit that pushes them to profit from their own labors.
Each new business opportunity has its advantages and disadvantages, of course, and deciding which is right for you depends on a number of factors.
Here are a number of reasons why we think franchises are a better bet for future executives.
A Proven Operation
Franchises come complete with concept, strategies and processes already in place. A Bin There Dump That franchise, for example, has been tested and proven repeatedly in a variety of settings and locations. Franchise operators taking advantage of this new business opportunity join a system with a tested approach already in place and structure that has already generated success.
Speed To Market
Because Bin There Dump That has led many franchise operators through the startup process of their new business opportunity, and because all the tools already exists, the amount of time needed before a franchise operator opens the doors is generally much quicker than that of an independent business.
The sooner the business is up and running, the sooner franchise operators bring in revenue.
Of course, revenue is only part of the equation. Money coming in is great, but it doesn’t mean much if none of those numbers end up in the profit column on the accounting ledger.
There are no promises to be made on the money a franchise operator can make in this new business opportunity, but in general, franchise operators tend to reap a faster return on their investment than independent business owners.
Both independent and franchise businesses owners have moral and emotional support from their friends and family. While that kind of support might help buoy an executive through tough times, it does little to ensure growth.
Franchisors have a vested interest seeing their franchise operators succeed. A Bin There Dump That franchise operator can expect training and education, a business model, tools and techniques that make running the operation easier than developing everything on your own.
Economies Of Scale
Wal-Mart isn’t a franchise, but one thing that makes the store, and others like it, so effective is economy of scale. The ability to purchase for multiple stores lets Wal-Mart provide customers with products at prices lower prices.
For Bin There Dump That, everything from marketing materials to the bins delivered to customers come at a cheaper price because of the company’s ability buy in bulk.
An independent business owner has only his or her business savvy and advice from friends and mentors to rely on. A Bin There Dump That franchise isn’t handed out lightly. It takes more than the ability to pay franchise fees. It takes the right attitude, the right resources and the right training from the Bin There Dump That corporate office.
Before the franchise operator is handed the reins, he or she spends several days learning from experienced executives at the home office. That’s training that can be taken back and shared with employees.
Independent businesses tend to have more competitors than franchise operators. While there’s no guarantee a franchise operator won’t have some competition, but it certainly won’t come from another Bin There Dump That franchise operator.
Our territories are carefully selected and meted out, which provides the franchise operator with some sense of security there will be no encroachment from another Bin There Dump That franchise operator.
To learn if a Bin There Dump That franchise is the right new business opportunity for you, visit our website. There you’ll have the opportunity to download our free franchise information kit or take our personality assessment to find out whether or not you’re a good fit.