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5 Reasons to Choose Franchising over a Startup Kumon provides advantages of joining the franchise industry.
Small businesses are the backbone of the U.S. economy. In fact, according to the Small Business Administration, there are nearly 30 million small businesses in the United States and those account for three-fifths of new jobs since 1995.
Whether it's an innovative idea, following a passion, investing in the local community or the desire for more flexibility, every small business is opened with a purpose. And let's be honest, we've all thought about becoming our own boss at one time or another.
Some people are destined to be entrepreneurs, but many others are hesitant to take the leap of faith. An uncertain economy, fear of starting from scratch or simply not knowing what type of business to start are just a few reasons why people may feel tentative about launching their own business.
The good news is that there's an alternative to starting from scratch. Franchising offers the independence of small business ownership supported by the benefits of a big business network.
Kumon, the world's largest education franchise, offers five reasons why you should choose a franchise over a start-up.
1. Brand Recognition.
Investing in a franchise provides a unique opportunity to receive direct support from a recognizable brand name with a proven system in place. From day one, brand awareness is an already established component. Customers recognize the logo and know about the product offered, which will help increase your sales from the beginning.
2. Solid Business Plan.
Many people who want to become their own boss don't necessarily have a business background. Lacking this can make the sheer thought of owning a business intimidating and overwhelming. A franchise model can help alleviate this fear because you are buying into a business that is already established. Many of the business and management aspects are already mapped out so you don't have to go at it alone or start from scratch.
3. Training and Support.
Great franchisors offer a tremendous amount of ongoing business support to their franchisees to help ensure their success. For example, Kumon provides its franchisees with all the tools necessary to succeed—ongoing professional training, marketing, and continuous research and development programs, which keep the business current and competitive.
4. Growing Franchise Industry.
Startups have a higher failure rate compared to franchise businesses. Any type of business ownership is risky, but a franchise is a proven system. And that proven system is growing. The International Franchise Association reports that the industry is poised to grow for the eighth consecutive year and the franchise industry is actually expected to outpace U.S. economy-wide job creation in 2018. Opening a franchise puts you in good company!
5. Rewarding Career.
Making the decision to own your own business encourages you to find a career that is meaningful, rewarding and something you are truly passionate about. And when that happens, your career becomes a passion and not just a job. When you open a Kumon Center, you aren't just running a profitable business. You are giving back by improving the lives of children through education and offering employment opportunities to your local community.
Whether you are contemplating a career change or looking for a fulfilling career doing what you're passionate about, franchising may be the right choice for you! Do you have a passion for education and an entrepreneurial spirit? Learn more about available Kumon Franchise opportunities or call (844) 209-3952.