If you find a franchise opportunity that screams your name, there are reasons to celebrate. Here are a few…
You can line up your finances, take out a business loan and make that big roll of the dice as an independent business owner, and sometimes things work out, of course. However, the business failure rates are stacked with good intentions and hefty investments that fell due to lack of mentorship and a proven system. That is where franchising comes in.
It really is a great thing to be a franchise owner and the first reason is that you are the boss of your business, but you’re not freewheeling. To infuse your investment with the fortitude of a well-known brand is more than just obtaining the rights to the logo, products and services that have proven to be tools of entrepreneurial growth for so many before you. If you think about your favorite brands (and we all have a few), you will realize that they have settled into your psyche and maybe even endeared themselves to your heart in a way that makes the competition pale in comparison.
When you buy a franchise, one that is trustworthy and well-respected, you are going into a business that is attached to a brand that is alive and the emotions and expectations ensure that potential clients coming your way will not be distracted by the endless number of choices available to them today. You have a distinct and powerful edge when you clinch a winning franchise opportunity, one that independent companies scramble for and frequently miss.
When thousands of satisfied customers help establish your name, a reputation for excellence built up over time takes on a life of its own within the hearts and minds of generations of clients. For the best franchisors, this reputation spreads through communities over the world and presents to entrepreneurs one of the treasures of franchise ownership: consistency. There are particular franchise niches, such as the business to business services industry that afford to you the escape from standard employment with threats of corporate downsizing and layoffs attached, plus the flexibility of weekends off and greater stability of clientele.
Chris Hartery, owner of digital print, design and marketing leading franchise, Minuteman Press in Mississauga, Ontario, highlights the unique way Minuteman Press International manages to be there when needed while allowing its franchisees to have autonomy enough to get to work on building their own futures. Minuteman Press franchise owners intelligently contribute to the excitement and trust connected to the familiar green and orange brand representation and its slogan, “We Design, Print, and Promote…You!”
Chris shares, “The corporate office is always finding ways for each franchisee to grow their business. We had always taken orders for promotional products for instance, but never really ‘sold’ them. Four years ago, there was a big push at our World Expo in Chicago for franchisees to start selling promotional products. Seminars were held and agreements were put in place with choice vendors to give us preferred pricing. We are now selling more promotional products than ever before and have been given a network of vendors by corporate.”
It really is a great thing to be a franchise owner and Chris brings it all home by reminding us of the first great thing: business ownership itself. While a franchisor is an irreplaceable mentor, you remain in charge of the construction of your enterprise. He says, “The one thing that has always stood out for me is as a franchise owner is the fact that this is our business. We run it the way we see fit. The head office is there for as much or as little support as we need. Our Regional VP and Field Rep are always a phone call away. When they can’t help, head office is always ready to answer any questions we have.”
Chris thoughtfully concludes, “We wanted autonomy and that is exactly what Minuteman Press International gives us.”
Here are three reasons why it is a great thing to be a franchise owner:
1. It is rational to sign a franchise agreement with a widely respected brand that has a tried and proven systemset up for you to have the greatest chance to realize maximum growth. In addition to a lifetime of support, some of the things that work to protect your investment and make your experience potentially less risky than going independent also include essentials such as site selection and the negotiations of the costs involved with the lease, signage and renovations of that site.
2. Along with a lifelong partner in your franchisor, the brand that is imparted unto you goes to work immediately as it is practically illuminated in the eyes of potential clients when compared to the masses of unknown independents. In fact, a recent study from Loyalty360 revealed that 66% of US consumers are willing to pay more for a product if the brand delivers a positive customer experience … [if the brand reputation is intact and strong].
3. The franchise community that awaits you is brimming with a fascinating variety of dynamic, talented professionals, from the ones invested in your personal success (corporate executives and support teams working on your behalf) to your fellow franchise owners, who are potential allies and fonts of wisdom. The potential for having such rewarding connections is a rich, irreplaceable bonus that helps you advance your own franchise in ways that may not be readily apparent for those outside of the high-powered business realm of franchising.
William Grewe, owner of Minuteman Press in Bloomington, Minnesota, knows that no matter what your choice, whether it be a new or existing franchise, it is a great thing to be a franchise owner because he is living proof. He says, “When starting a business from scratch, an owner must learn through trial and error many lessons that an experienced franchisor can offer through experience.”
From William’s perspective as a successful franchise owner, choosing the right franchise is a matter that encompasses variables specific to your individual needs and the advisement of your carefully selected franchisor should give you peace of mind, as the franchisor is fully invested in placing you in the most ideal growth situation.
He continues by highlighting pluses of both existing and new franchise options: “An existing franchise reduces risk by providing an established history of account performance, but it carries the baggage of business policy decisions made by a previous owner which may need to be changed. If you want to control every business policy in your operation, a new franchise might make more sense. Customers rely on predictability with their business partner, so it’s not always simple to change an established business practice. It takes finesse and time, but it has been done very well and you can do it too. Starting a new franchise makes sense for an entrepreneur who enjoys selling, and more importantly, building relationships. But, remember that a business doesn’t manage itself. You need to be prepared to lead, make decisions, teach and learn, regardless of which option you choose.”
Building your own brand from scratch today is harder than ever
Today, it is harder than ever to build an unknown brand, cost aside. There is so much noise in advertising and consumers are bombarded with rookie attempts to lure them that often fall flat. Franchisors at the top of their industries carry a timelessness into the future that empowers their brand, and you as a franchisee, with continual enhancement of the practical and emotional relationship generations of people have with them. When marketing decisions are made, they honor and strengthen the longevity of the brand which extends the option of heightened growth to all of its franchise owners.
Matt Peretz Minuteman Press International Vice President located in their New York World Headquarters. He helps entrepreneurs contemplate the kinds of choices that come on the verge of taking ownership of a franchise. During the research phase, franchise industry professionals, such as Matt, make sure the information provided is comprehensive, so there are no Minuteman Press complaints with regards to questions answered. The same cannot be said for legions of other business opportunities, some little more than franchise ripoffs.
Matt advises potential owners, saying, “When looking at a franchise opportunity, you may be presented with the option of buying an existing location or opening up a brand new operation. You are going to want to consider multiple things in this case. One of the main considerations is going to be price. If the existing opportunity is doing well, the business is going to be sold at a premium. This may simply be out of your budget. If it is within your budget, you have to evaluate the purchase price and make sure you are paying a fair amount for that business. Opening a new location, and growing it will ultimately gain you a higher ROI when you go to sell the business. You can relate this to buying a fixer-upper vs a recently rehabbed home. Think of a brand new location like a fixer-upper. You get to grow the sales and build the business, it will cost you less in the long run because you will be doing all the work. Sometimes we like to enter the recently rehabbed home however, and pay the premium for somebody else’s hard work.”
It is truly great to be a franchise owner. That you are able to be your own boss while going forward into business with a well-respected brand and all the support that comes with it is the professional version of having your cake and eating it, too. The most important ingredients will be your own dedication and hard work, but that is exactly the reason the success you cook up will taste sweeter.
About Minuteman Press International
Minuteman Press International is a number one rated business service franchise that offers world class training and unparalleled ongoing local support. Started in 1973 by Roy Titus and his son Bob, Minuteman Press began franchising in 1975 and has grown to over 950 locations worldwide including the U.S., Australia, Canada, South Africa, and the United Kingdom. Minuteman Press is rated #1 in category by Entrepreneur for 14 years in a row and 25 times overall, including 2017. We are the modern version of the printing industry, providing high quality products and services for businesses that go way beyond just ink on paper. Today our stores produce promotional products, custom apparel, direct mail advertising, large format printing (banners and posters), signs, and much more. Prior experience is not necessary to own and operate a successful Minuteman Press franchise.
Learn more about Minuteman Press design, printing, and marketing franchise opportunities by calling 1-800-645-3006 and access Minuteman Press franchise reviews at www.minutemanpressfranchise.com