Are you unhappy at work? Are you sick of waiting in traffic jams in peak hour? Do you want a better work and life balance? Do you want to take control of your daily life? Do you want to become your own boss? Then why don’t you quit your job and go for franchise business opportunities in India available to you?
A franchise owner of MOS World shares his experience of he being a franchise owner rather after quitting his job.
1. Work and life balance.
If you wish to achieve work and life balance then owning a franchise is just the thing for you. When you used to work in a corporate environment I had to plan my life around work. Now I own a franchise, it allows me the opportunity to plan my business around my life. No more Monday morning traffic jams and no more leaving the office at 9pm to impress the boss. I have taken control of my own life.
2. Turnkey business.
Even budding entrepreneurs who are able to run successful businesses choose to buy franchises: these entrepreneurs don’t want to go through the details to get their business up and running. When I bought my first Multilink World Franchise eight years ago the franchisor eliminated all the details and hard work: site location, negotiating a lease, shop fit management, operations manuals and marketing were all taken care of.
3. Track record of success.
When you buy a franchise, you are buying an established concept that has proven to be successful in other locations. The ideas and processes of running the business have already been tried and tested. The franchisor can also prove this by showing you successful results of existing franchises.
4. Proven system.
When you go for a franchise business opportunity In India you are buying systems. If there aren’t any systems, then run. The risk of failure is much lower with a franchise than starting a brand new business because when you buy a franchise you buy a system that works. All franchises have an established system in place that you must follow — why recreate the wheel? The systems are designed to reduce the errors that a common business owner might make, and instead help them focus on growing the sales.
This would not have been possible if there weren’t systems in place for me to follow. The systems have worked for hundreds of other franchises, and it works for me too.
5. Brand awareness.
Many well-known franchises have national brand-name recognition. Buying a franchise is like buying a business with built-in customers whereas starting up a new business will require you to spend time and money to establish a new brand. Customers are usually more comfortable purchasing items from companies they already know and trust — they see your logo, they know your brand, they trust your brand, they buy your products or services.
6. Easier to obtain financing.
One of the major reasons why MOS World and other national franchise brands are so popular is because it is easy to obtain unsecured financing from the major banks. The banks are very comfortable financing the purchase of a franchise because they already have a proven track record. Successful franchise chains are usually seen to be lower risk than independent businesses.
7. Training and ongoing support.
A company that provides franchise business opportunities in India has training programs designed to teach you the most successful ways to run the business. They should also have reference materials (and operations manuals) to assist you in dealing with whatever comes up while you’re running your business.
Most franchise companies offer a training program held at their corporate offices or at a franchise location. The franchisor will train you to run your franchise exactly the same way their other franchise locations are run. This will ensure that you are running your business efficiently and will help to eliminate common mistakes any new business owner makes.
Once you are up and running you will always have the support of the franchisor, and fellow franchisees and the back-up of knowing you are part of a national chain. You will always be able to pick up the phone and ask questions to the franchisor or even to other franchisees (who I believe are the best resources in the business).
You’re not alone when you’re building and running your business, and you can always call on experienced people when you need some inspiration, or to share new ideas for growing the business.
8. Marketing.
Most small business owners fail because they don’t understand how to best market their business, or simply do not have the finances to advertise.
When you buy a franchise the marketing strategy is done for you. MultilinkWorld, for example, executes all the national marketing in various media such as TV, radio, print, catalogs, internet, and in-store — all are proven tools and strategies for attracting and retaining customers. The marketing team will also assist the franchisee with local area marketing to further localize the marketing.
9. Exclusive territory.
When you buy a franchise, you get exclusive rights for the territory, and no other franchises can be sold in the same area. Franchisors will only allow a certain amount of franchises to be open within a certain geographical region.
10. Multiple locations.
Many entrepreneurs get into franchising with aspirations of owning more than one store. Most franchise systems will offer you more opportunities to grow within the system — it is to their benefit to grow an existing franchise rather than finding a new one. Once you work out how to make the first store work, the next step is to become a multi-unit franchisee.
I was able to significantly increase my income and free up my time by opening eight stores. The focus went from working in the business to working on growing the business. I have become a sort of CEO — working on the numbers, and managing an area manager — and the best part of it all, being able to command the ship from a home office.
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