Many people dream about being their own boss.
But not every business will be successful. When freedom is the goal, taking the leap to starting your own business can be the hardest part.
For many, 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 a close alternative: franchising.
There are many reasons to buy a franchise, especially one with a proven track record.
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.
Instead, think of it as taking control of your own destiny.
Here are six benefits of why a franchise investment may be the ideal way to transition into starting a new business.
1. Access a Proven Business Model So You Can Do More of What Works
With a franchise, you don’t have to reinvent the wheel.
While it’s important to know your market and do your research, like an independent business would, you can also draw on the metrics and anecdotes of what has (or hasn’t) worked in the past for other franchisees.
By having a network of other franchise business professionals behind you and a proven system that has been continually tested, you’re able to implement strategies that work right away.
Allowing you to save time and money in the long run by not having to set up every aspect of the business from square one.
For example, Nurse Next Door franchise owners get access to:
- National marketing campaigns,
- Specialized training programs,
- Personalized coaching,
- Centralized scheduling,
- A 24-hour support centre,
- And other exciting franchise opportunities that have the value of proven systems behind them.
2. Access to a Community giving Ongoing Operational Support
Building community support around a fledgling brand can be daunting. This is why many people decide to buy a franchise.
When you buy a franchised business, you’re buying into an existing brand that already has recognized support systems in place—yet again, another wonderful benefit that a franchise model can offer. Some examples of this community support can include:
- Advertising and marketing assistance,
- An existing customer base,
- Initial training programs,
- Access to existing franchisees,
- The right contractors and employees,
- A franchise development manager,
- and a team who can teach you how to effectively run your business.
With a franchise, 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.
3. Mentors Who Can Show You Successful Business Ownership
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.
Since franchises are part of a greater community, they come 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.
4. In Your Own Business: You Get What You Give
Many people are driven by passion when starting their own home care business.
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.
You can bring your own inspired approach to your franchise’s day-to-day operations and workplace culture within that framework.
5. Less Risk, More Reward
All these things mentioned add up.
Ultimately creating a solid system for running a successful business and with much fewer risks that an independent business may have to endure.
While it still, of course, takes hard work and commitment to run a franchise business, you are able to get a head start.
Who wouldn’t want to skip some of the steps required when opening a business?
All these steps can add up, especially if some things don’t work right away.
While failures don’t always happen when running a business, they are understood as something that happens to entrepreneurs at one point or another.
An example of this could be when hiring your first employees.
Say you just opened your own solo business and go to start hiring your first employees. You may not yet have an established process for hiring a team or know who you should be scouting.
If you end up hiring the wrong people, you open yourself up to the risk of losing hard-earned money and time by having to go through the process until you get it right.
However, when buying into a franchise system, many of the trial and errors have been ironed out— allowing you to walk right into a business with smooth processes already in place.
6. You’re a Good Investment
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 proven 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 are worried about the risk of doing it on your own, a franchise might be the right option.
It’s a great way of transitioning into the world of business ownership without feeling like you’re on your own.
Access Your Welcome Package which includes
- Discovery Video – 15 min overview of this opportunity
- Franchisee Testimonials
- The Nurse Next Door opportunity
- Access to our calendar to book a 1×1 call.