Your 2022 New Year’s Resolution – Own a Franchise Business

(Newswire.net — January 15, 2022) Sydney, SA — Owning a franchise is one of the best ways to get into business for yourself. And there’s no better time than now to make your entrepreneurial dream a reality.

What is a Franchise?

As defined by the International Franchise Association, a franchise is “a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system.”

Franchising is a very successful business model that, while early franchise models date back hundreds of years, made a name for itself during the 1960s and 1970s. And since then, it has continued to go from strength to strength.

Why Buy a Franchise?

According to franchise expert Derek Cafferata, President and CEO of All-State Franchise Finders, “The biggest advantage to buying a franchise is because you’re in business for yourself, but not by yourself.”

Buying a franchise, as opposed to starting a new business, offers entrepreneurs branding, marketing, systems, training, and support from the franchisor, while still offering franchisees enough independence to grow and develop their business into a success. As a franchisee buying your first franchise, you have the peace of mind that your business has been tried and tested, something a start-up risk.

Steps to Buying a Franchise

Start the process of owning a franchise by first identifying your personal, career, financial, and lifestyle goals. Then identify your financial position and net worth. This will be necessary for financing a franchise purchase.

Derek strongly recommends researching a wide range of franchises before making a final decision. “A solid track record, strong marketing, online presence, and a respected brand name are just some of the key points to consider in a franchise opportunity,” says Derek. “Another hot tip to consider when looking at a potential franchise is its social responsibility, something that is becoming more and more important among customers.”

The next step to owning a franchise business is to go through the application process. This involves reading and understanding the Franchise Disclosure Document (FDD), being aware of all up-front and ongoing costs and fees, and talking to other franchisees within the network to get their view on the franchise as a business.

After this, you get financing in order, then look to set about signing documentation and moving to open your own franchise business.

Seek Expert Franchising Advice

“Buying a franchise can be a lengthy and daunting process,” says Derek. “Which is why it pays to seek the right advice from the outset.” A franchising expert will guide you through the entire process from franchise selection to financing, legal advice, and business setup.

Derek Cafferata and his team at All-State Franchise Finders have helped countless entrepreneurs turn their dreams of business ownership into a reality. For more information call 1800-544-2161 or visit allstateff.com today. All-State Franchise Finders is your award-winning franchise expert. Give them a call today!