Exploring new opportunities outside the comfortable environment of a traditional team, where responsibilities are shared, could open exciting doors for many of you.
If you haven't yet considered franchising, here are a few things that should convince you to take a closer look.
With a franchise, you get the best of both the employee system and the business world:
- You have the support of a franchisor who has developed validated models and strategies
- Initial training prepares you for your new activity and you benefit from continuous training sessions to improve your skills
- You are not alone in managing your human resources, especially when it comes to recruiting the right people
- If you need to find a point of sale, the network managers work with commercial partners who will facilitate your search more than an independent entrepreneur
- On the other hand, you retain the autonomy to take key decisions in your business and to make key decisions and to manage your business.
- If you need to find a sales outlet, the network managers work with business partners who will facilitate your search more than an independent entrepreneur
- On the other hand, you retain the autonomy to make the key decisions for your business and set your own schedule to reconcile it with your family life.
With all these advantages in hand, it seems that 2024 is an excellent year to launch your first or next franchise.
5 points to consider
Once you have made your decision, you will need to assess a few factors, such as market trends, your financial capabilities, your personal situation, etc.
- Market trends: It is essential to understand the market dynamics in 2024. Are there emerging industries or sectors where franchise opportunities are growing, and is consumer behaviour changing in ways that favour the franchise business model you are considering?
- Your positioning: Are you prepared for the challenges and responsibilities that come with owning a franchise? This includes being prepared to make important decisions, manage a team, and devote considerable time and effort to the business. Is this consistent with your personal aspirations?
- Financial aspects: Do you have the financial resources to invest in a franchise? This includes the initial investment, ongoing costs and having enough cash to inject into the business until it becomes profitable.
- Support and training: Do the services offered by the networks you identify match what you will need to be successful?
- Adaptability of the brand: how adaptable is the chosen concept to changing market conditions? The ability of a franchise to evolve with consumer demands and technological advances is crucial for long-term success.
Are these factors positively aligned in 2024? Then it is the right time to start your franchising journey.