As businesses grapple with the future implications as a result of COVID-19, industries are now being forced to adapt to the “new” normal. And so are business owners, who need to carefully consider and re-evaluate their future investment plans.
Despite the global economic challenge, there is one type of business model that is more likely to weather the storm through challenging economic circumstances. The franchise business model.
Unlike independent businesses, franchises are resilient business models that have already been established and proven in a variety of markets. They offer know-how and valuable information to predict investment profits and business and financial success. Now, perhaps more than ever is the best time to invest in a franchise for several reasons:
Resilient Business Model
The advantage of the franchise model is that partners receive a proven business model that has already been tested and evaluated in various markets. The model usually comes with a complete package of knowledge, training, equipment, ongoing support, and assistance.
A franchise system has the advantage of name recognition and strong business credentials and connections already in place, providing a solid base to build upon. This base, along with increased brand recognition, has the potential to sustain the business through difficult economic times.
Certain franchise business models require a lower financial investment and therefore carry less risk. They provide for consolidated financial plans and combine all costs of the business units.
Support and Collaboration
By investing in a franchise business, investors have access to a wealth of resources and knowledge from other franchise owners and managers. From starting their own business to branding and marketing, investors do not have to worry much about making it a success. This is because there is already experienced guidance from those who have already gone through the same process and can provide quality training and expertise.
Is this a new opportunity for you?
Despite the daunting economic challenges facing the industry, a franchise model is a reliable alternative for investors as it offers a wide range of opportunities in the market.
Want to learn more about choosing the right industry with the right franchise business model? Join a free webinar and get in touch with the support team who will answer any further questions you may have. The “Optiprint franchise business model – a scalable business opportunity for you!” is a free live webinar that will take place on Wednesday, April 21, 2021, at 10 am CEST / 11 am. UTC+2. To register for this free webinar, click here.
The webinar will be held in English.
*Source: The Franchising Business Model: An Entrepreneurial Growth Alternative. International Entrepreneurship and Management Journal 8(1):75-98. March 2010.