8 Reasons to Invest in a Pet Franchise
There are many advantages to investing in a pet franchise instead of starting a pet business from scratch.
- The Business is Already a Recognized Brand: It’s easier and less expensive to attract customers when you invest in an established pet franchise brand. In addition to the brand being recognized, you’ll benefit from any national advertising campaigns that your franchisor engages in. Unknown businesses have to build their brand from scratch
- You’ll Get to Focus More on Growing Your Business: If you were to start a business on your own, you’d have to come up with a business plan and become an expert in the many areas in addition to the core service you’ll be providing. These areas might include lease negotiation, build-out, IT, bookkeeping, sales, marketing, and more.
- Less Trial and Error: You’ll be able to build upon the success of the pet franchise you choose, which entailed its having to struggle through the trials and errors new businesses face in order to have devised the proven successful business model you’ll be investing in. The likelihood of an established and successful franchise model failing is far less than that of most new businesses. You just have to follow the guidelines your franchisor provides.
- A Specific Background or Skill Set May Not Be Needed: It’s likely you won’t need to have had specific education or experience in order to successfully grow the pet franchise business you’re interested in because many franchises provide extensive training in addition to the procedures you should follow and tremendous support.
- You’ll Receive Support in Many Forms: Good franchise systems will support you in a variety of ways ranging from IT and marketing support to ongoing training and sales support. In addition to receiving this support from your franchisor, you’ll be able to reach out to other franchisees within your pet franchise system for advice.
- Unlimited Income Potential: If you are working for someone else, you likely have a fixed income. As a pet franchise owner, you’ll have unlimited potential for income. Be sure to have a rough idea of how much you might earn prior to investing in a pet franchise, information you can gather by carefully reading the franchisor’s Franchise Disclosure Document and by speaking with many of their franchisees.
- Schedule Flexibility: Since being a franchisee means you’re your own boss, depending on the pet franchise business model you invest in, you may have very flexible hours, somewhat flexible hours, or at the very least be able to step away from work for brief periods when you need to. If you have staff who can run your business while you are away or invested in a business model that you can temporarily close for certain periods of time, you’ll be able to take time off when you’d like within reason.
- Financing is Easier to Obtain: Many lenders don’t approve loans that they deem to be risky, and an unproven business falls into this category. Your investing in an established franchise, however, is often viewed as less risky by lenders since the franchise is a proven successful system that is less likely to fail. This increases your chances of obtaining financing.
As you can see, there are many advantages to investing in a pet franchise. The important thing is to do your due diligence in order to ensure the pet franchise concept you are interested in will likely provide you with what you need to accomplish your goals. A good place to begin your pet franchise research is by exploring the multiple pet franchising categories you have to choose from. Now may well be the ideal time for you to enter what U.S. Pet Market Outlook estimates to be an $86 billion industry
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