Written by: Arif Abdulla, VP of Global Franchise Development, NurseNextDoor
Many people dream about being their own boss.
But not every business will be successful. When freedom is the goal, taking the leap is the hardest part. Traversing unfamiliar territory is scary. When faced with the risk of the unknown, it’s easy to think of reasons to stay safe.
Citing logic or practicality, we tell ourselves that “now is not a good time.” The reality is there’s never going to be a good time to start a business. There will always be excuses and the whys are soon outnumbered by why nots.
If you’ve ever thought about starting your own business but felt intimidated at the idea of doing it alone, you may want to consider franchising.
Owning a franchise means the freedom of running your own business with the support of a community behind you every step of the way. Entrepreneurship doesn’t have to be intimidating.
Here are five benefits of franchising, and how it can help ease your transition into business ownership.
With a franchise, you don’t have to reinvent the wheel. While it’s important to know your market and do your research, you can draw on the metrics and anecdotes of what has (or hasn’t) worked in the past for other franchisees.
With a network of professionals behind you, you’re able to take calculated risks with the benefit of a very large cushion to catch you if you think you’re about to fall.
For example, Nurse Next Door franchise owners get access to national marketing campaigns, personal coaching, centralized scheduling, a 24-hour support centre and more, which means they have the value of proven systems behind them.
Building community support around a fledgling brand can be daunting. But when you buy a franchise, you’re buying into an existing brand. This gives you access to resources and proven systems, easier marketing, and a team who can teach you how to effectively run your business.
Your community is already there for you, so you don’t need to stress about building it from scratch. You’re automatically part of the franchise system and you can draw on support from headquarters to run your business.
Essentially, you get to run a small business with a big company’s resources.
As a business owner, mentorship is one of your most valuable resources. But when you’re just starting out, it can be difficult to find a mentor.
Franchises are part of a greater community, which comes with built-in mentorship opportunities. Behind every other franchise location, you’ll find a network of professionals.
A new partner starting out can leverage the wisdom and knowledge of a partner who has been in the business for 7+ years. This is advantageous as you can tap into a network of successful Franchise Partners at your leisure.
The load of business ownership is lighter when you have a personal relationship with the person who blazed the trail before you.
Many people are driven by the passion to start their own businesses. We want to do work that’s meaningful. So it’s good news that as a franchise owner, the success of your business depends on how much you’re willing to put into it.
When choosing a franchise, it’s a good idea to make sure your core values align with those of the company. You’ll be working within that framework, and it’s a lot easier to motivate yourself when you’re passionate about what you’re doing.
Within that framework, you can bring your own approach to the day-to-day operations and workplace culture of your franchise.
As a franchisee, you can save on startup costs in areas like marketing and coaching. Your franchise also likely has a strong brand and financial history. That track record can help you secure loans from banks or investors. It’s also a safer bet for your own investments.
Some franchisors offer referral programs. Nurse Next Door is one of them. Referral programs generally offer a financial incentive for the referrer – sometimes that is for franchisees or members of the public.
Referral programs can offer a means of revenue for a franchisee to help build their business and to extend their brand network beyond their local community. For example, Nurse Next Door’s Canadian Franchise Referral Program wants to hear from great people who know other great people. If we successfully sign on a new Franchise Partner, we give the referrer $10,000.
If you want to take the leap into entrepreneurship but you’re worried about the risk of doing it on your own, a franchise might be the right option for you. It’s a great way of transitioning into the world of business ownership without feeling like you’re on your own.
Feel free to contact me – or any of my colleagues at Nurse Next Door – anytime.