Debunking Common Myths About Franchising in the USA

Franchising is one of the most lucrative business models that can earn you significant returns, provided you dedicatedly run it right. Think about it! In a franchise, you don’t have to build a consumer base from scratch; the business plan is fail-proof, and compared to a new business, the cost of buying a franchise is lower. What more can you ask for? Nevertheless, people tend to contemplate their decision to buy a franchise in the USA, misguided by some myths. Well, not anymore, because we are here to debunk them once and for all. 

Myth 1: You can only succeed with well-known brands

As of 2020, there are more than 753,700 franchise outlets in the US, which employs 7.5 million people. Do you expect all of such outlets to be from the leading brands? Of course not! Does that mean these franchise outlets are not successful in their business endeavors? Not at all! This is a wrong concept that you can only succeed with the top American franchises. On the contrary, some multiple local brands and franchises guarantee significant ROI. You only have to research the revenue figures to assess the profit margin you can expect from these brands. (Source: https://www.statista.com/topics/5048/franchising-in-the-us/) 

 

Myth 2: You have to work 24x7

This is another big misconception about the franchise. A franchise outlet, like any other business, has fixed hours of operations, and you have the support of your staff in most cases, if not, then the franchisor is there to guide you. Many franchises require part-time involvement only. So, it is wrong to think that running franchises demand gruelling work, 24x7.

 

Myth 3: You need to have business experience

Franchises come in various forms. There are even franchising opportunities for veterans. It does not necessarily require you to have a diploma in business or sufficient experience in the same. You do not need it because each franchise offers adequate support and training for the franchisee and the staff. If you are not well-versed with a business model, you will be given appropriate training and support, enabling you to run the business smoothly.

 

Myth 4: Franchisors are controlling

While it is true that each franchise comes with a set business policy and regulations, one should not term it as the franchisor being controlling. You need to understand that the franchisor is running a business and entrusting the brand to a group of strangers. So, there is a high chance that in the absence of any base rules, the brand might come under fire due to franchise mismanagement. A franchisor makes it easy for you to run the business, rather than controlling or making it difficult for you. 

 

Conclusion

Therefore don’t get swayed by the naysayers. Do your research and buy a franchise to fulfill your entrepreneurial dream with the best franchise opportunities in the USA. On a concluding note, get all the latest news from the US franchise industry and read the expert opinions about the top brands offering franchises at https://franchisingmagazineusa.com/, the leading franchise directory in the USA.