Are you planning to start up a retail business? Have you considered buying a franchise instead of starting your business from scratch? You may have heard that more than 70% of startups collapse because big competitors hustle them out of business.
So, logically, your chances of survival will be much higher when you latch on to a reputable brand. Besides, there are other reasons why it is always better to buy a franchise.
Here are all the reasons:
1. You don’t need much experience
Most big brands will not only support you, but they’ll also train you on how best to sell their products. They have been selling the products for long, so they know the best techniques to sell the products. So, if you don’t know much about the business, you’ll get enough training and support from them.
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2. You won’t spend much on ads and marketing
When you’re starting on your own, you’ll need to pay a considerable sum of money on marketing and publicity because people are usually hesitant to patronage new brands. But if you buy a franchise from a known brand, you may not need much marketing as your parent organization will be doing most of the marketing and publicity. You only need to leverage their advertising.
3. Franchises enjoy higher credibility
When you buy a franchise from a reputable brand, you’ll enjoy their reliability. Because of the credibility, the success rate of franchises is usually higher than that of startups. Furthermore, you can raise funds for buying a franchise more quickly than getting your new business funded. It all boils down to credibility. This is why investors and creditors are more willing to put their money in franchises.
4. You’ll benefit from ongoing operational support
Your franchiser is naturally a stakeholder in your business and will always give you all the necessary push to succeed. Mentorship is usually a part of the support. The credit facility is another benefit franchisees enjoy from their franchisers. All these will make it easier for you to succeed. It is not uncommon for franchisers to offer incentives to their franchisees to motivate them to intensify their efforts. Your franchiser could pay you some commission for meeting certain sales thresholds.
Now that you understand why buying a franchise is better, you also need to realize that there are certain qualities to look out for in your prospective franchiser. You need a company that sells products of sustainable fashion brands. These products are clothes, accessories, and beauty products. This kind of product is easier to sell with little effort. You are better off with a brand that has already established itself as a global brand. Choose a franchisor that has a presence in multiple countries. Most importantly, you need a brand that has been in business for several years.
One brand that checks all the boxes is XIMIVOGUE. You can try them. They deal in products from sustainable fashion brands, they have been in business for several years, and they have more than 1,500 stores in more than 80 countries. You can easily leverage its extensive network.
For more info, please visit https://www.ximiso.com/