The concept of franchising, whereby a business owner passes responsibility of a business arm to someone else, has been around for centuries.
Since the days of English noblemen and Crown land, people have been entrusting their fortunes to entrepreneurs seeking a slice of the action.
This happens for good reason, as there can be significant benefits for both sides of the deal.
Franchisees — those who take responsibility of a store or business arm — are given their own established business to manage and profit from. This removes the lengthy process of establishing a business from the ground up and removes the risk of such a process.
Franchisors — who own the enterprise and hand out the responsibility — can palm off some of the time and effort required to run a business arm, while still receiving some of the profits.
Of course, this all makes it sound a lot easier than it is. In reality, franchising takes a great deal of organisation, trust, and communication.
Without these traits, a franchise can lose face and profits as its range of stores crumbles around it.
One way to ensure this doesn’t happen is with effective franchise marketing. Fortunately for franchisees and franchisors, Admosis specialises in this niche and can help to avoid the crumbling of the empires described above.
Make sure to get in touch with our team for comprehensive guidance if you’re considering franchising as a growth strategy or simply want to learn more about this popular business approach.
The Benefits of Franchising
By franchising and effectively leasing out a business arm, you can raise funds remarkably quickly. Potential franchisees will bring their own cash to buy in and it’s up to you how you spend these newfound funds.
