The power of brand recognition and built-in demand can be huge. The golden arches or the DQ “Texas stop sign†are a welcomed sight to weary travelers. People seek out familiarity, and that’s good news for franchise owners. National advertising increases brand awareness and helps keep the name, product or service top of mind. And the consumers know when they stop for a bite, need to ship a package or want to work out, that a business bearing the brand name they know and love won’t disappoint.
The kinks are already worked out. A lot of planning and trial and error go into starting any new business from scratch.
With a franchise, someone else has already made the mistakes, learned from them and developed systems that work.
Whether it’s finding the best ingredients, the right supplier for packaging materials or the best price on shipping, franchise owners are typically provided with a detailed manual that explains who to buy from and how to effectively produce, market and deliver the product or service. Full article.