How Does a Franchise Work, and is it Better Than Starting a Business Alone?
Joining a franchise means enjoying the advantage of an established brand and business model that you wouldn’t get as an independent owner. Learn more about some of the benefits of franchising.
FRANCHISE VS. INDEPENDENT
One of the first things someone will ask themselves when deciding on if they want to become a franchisee is “how does a franchise work and how will I benefit in the long run?” Unlike a brand-new business, the name recognition afforded to you by buying into the right franchise is priceless. A strong reputation and popularity among customers has already been established, so the buzz will be swirling around your town as soon as word spreads that you’re opening a new location.
The level of positive opinion and trust a brand has built often takes years and investing in a franchise allows you to capitalize on this hard-earned reputation starting day one. Also, because you will be operating your business as a part of the brand, it is important to find a franchise whose goals and values align with your own.
Things to consider when sizing up a franchise brand to invest in that can’t be assessed when starting an independent business include:
A Strong Reputation. Whether a franchise has 10 locations or 10,000, it’s important to align yourself with a brand that is positively regarded both locally and across public opinion. A good reputation can go a long way to provide built-in business when you first open your doors.
Solid Financial Track Record. It’s worth researching a franchisor’s history of profitability, if they’ve managed to maintain financial strength, and where or why they have faltered.
A Growing Market. Choose a market that is positioned for opportunity and growth for years to come. A hot and happening concept may be great in the short-term, but franchisors with long-term focus and growth potential will provide you with a richer business experience.
Budget Blinds is North America’s #1 provider of custom window coverings, spanning over 1,300 territories nationwide. With over 25 years of franchising success, Budget Blinds provides franchise owners the proven business model and winning track record to show that we are both an industry and franchising leader.
The costs of starting a new independent business can be incredibly high and unpredictable. You may encounter hidden or unexpected fees as you attempt to get your business up and running. In the case of franchising, initial franchise fees and related costs are laid out for you in the company’s Financial Disclosure Document (FDD), or sometimes right on their website. The expenses are streamlined in a coherent, concrete way so that you can best prepare for your investment and know exactly what you’re paying for ahead of time.
Opening a new business requires a lot of legwork, but one of the many benefits of franchising is that things like market research and analysis, product creation and assessment, and brand optimization are all rolled into the initial costs of opening a franchise and managed by members of the franchise team well-versed in all areas of business operation.
Most people need financial assistance to get their new businesses off the ground. And luckily for franchise investors, banks and other financial institutions are much more likely to provide funding toward a venture backed by a proven, successful franchise system than an unproven, independent startup. In fact, there are categories of small business loans (SBA) set aside specifically for franchise endeavors.
Furthermore, while some franchisors don’t offer direct assistance with securing a third-party loan, Budget Blinds provides in-house financing for qualified candidates.
NO EXPERIENCE NECESSARY
Generally, starting your own independent business requires you to be an expert in your field in order to secure the financial backing necessary and generally have what it takes to make your business a success. With a home services franchise like Budget Blinds, no previous experience is required to make your business soar.
Our home-based business model has been perfected over 25 years and our success is based on driven, enthusiastic individuals who, above all else, possess an entrepreneurial spirit and a passion for personalized customer service. Beyond that, Budget Blinds will provide you with all of the tools and support to grow your business.
TRAINING & ONGOING SUPPORT
One of the biggest advantages to investing in a franchise system is the brand-backed training program and support network. Techniques and methodology that have made the brand a success can be replicated and passed on to new franchisees to maintain a sense of continuity between all franchises, basically acting as a blueprint for success.
As a franchisee, you can expect to learn about the operational requirements of the business, sales and marketing strategies, brand guidelines, management techniques, extensive background on the products you offer, and how to optimize customer satisfaction. All of these elements are aimed to reduce the pitfalls and challenges that other non-franchise startups often face.
Even better, the support doesn’t end after you have officially launched your business. Budget Blinds provides franchisees with immersive product knowledge and sales, high impact marketing, and the support of a team of experts to assist with everything from operational concerns to customer service and more.
A STRONG NETWORK
Another benefit of franchising is the knowledge that while you may run your own business independently under the brand “umbrella,” you have the built-in support not only of your franchisor and its expert team leaders, but that of an expansive network of other franchisees just like yourself, who are always available for cooperative feedback and support.
Entrepreneurs interested in becoming franchisees with Budget Blinds enjoy these networking benefits and capabilities of more than one brand under our parent company, Home Franchise Concepts, all of which are leaders in the home services industry. Our sister companies include:
Tailored Living: focused on whole-home organization solutions and garage storage and flooring solutions
Concrete Craft: providing decorative concrete overlays to beautify any surface inside and outside the home
AdvantaClean: offers professional restoration services that include water removal, mold eradication, and moisture control services for a healthier home environment
Kitchen Tune-Up & Bath Tune-Up: both provide curated concepts for every level of kitchen and bathroom remodels
Budget Blinds franchisees enjoy the networking capabilities of a range of complementary brands in a leading home services organization, providing the added bonus of cross-promotion, referrals, and more.
CHOOSE BUDGET BLINDS
Budget Blinds strives to maintain its position as the #1 provider of custom window coverings in North America through attracting, training, and motivating passionate franchise owners across the nation. By providing personalized support and world-class products and customer service, Budget Blinds is fully invested in the quality of people’s lives at home. By offering franchise owners a low-cost, home-based business model, we set you up for success as you become a member of our franchising family.
Unlike going it alone, franchising with Budget Blinds gives you both the freedom and the support to run your business and your life with the backing of a world-class brand that believes in your success.
To learn more about franchising opportunities with Budget Blinds, visit us.