Why purchasing an emerging franchise brand can be advantageous?
For entrepreneurs who are looking to start their own business, buying a franchise can be an excellent option. A franchise provides a proven business model, established brand name, and ongoing support from the franchisor. However, one of the biggest decisions that potential franchise owners need to make is whether to buy a new franchise or an established franchise brand.
While established franchise brands have a track record of success, there are several advantages to buying a new franchise. In this post, we will explore the benefits of buying a new franchise and why it may be the right choice for some entrepreneurs.
1. Lower Initial Investment
One of the biggest advantages of buying a new franchise is the lower initial investment. Established franchise brands often require a significant upfront investment, including franchise fees, equipment costs, and inventory expenses. In contrast, new franchises may have lower startup costs, allowing entrepreneurs to get started with less capital.
2. Greater Flexibility
Buying a new franchise also provides greater flexibility for entrepreneurs. Established franchise brands often have strict guidelines and protocols that franchisees must follow, which can limit their ability to make decisions and adapt to local market conditions. New franchises, on the other hand, may have more flexible guidelines and allow franchisees to make decisions that best suit their local market.
3. More Growth Opportunities
New franchises may also provide more growth opportunities for entrepreneurs. When buying an established franchise brand, there may be limited territories available, and existing franchisees may already have a strong presence in the market. In contrast, new franchises may have untapped markets and more opportunities for growth.
4. Stronger Relationship with Franchisor
Buying a new franchise also allows entrepreneurs to develop a stronger relationship with the franchisor. Established franchise brands may have thousands of franchisees, making it challenging for franchisors to provide personalized support and attention. With a new franchise, entrepreneurs may have more opportunities to work closely with the franchisor and receive the support they need to succeed.
5. Ability to Shape the Brand
Finally, buying a new franchise allows entrepreneurs to shape the brand and contribute to its development. Established franchise brands already have a set brand image and may be less open to changes or new ideas. With a new franchise, entrepreneurs have the opportunity to shape the brand and make it their own.
In conclusion, while established franchise brands have a proven track record of success, buying a new franchise can provide several advantages for entrepreneurs. With lower startup costs, greater flexibility, more growth opportunities, a stronger relationship with the franchisor, and the ability to shape the brand, new franchises may be the right choice for some entrepreneurs looking to start their own business.
Although Big T’s BBQ is a well known brand and beloved for its food and service in Calgary, Big T’s has just recently started franchising. For all the reasons above,……get moving towards owning your very own Big T’s BBQ restaurant today!