What's it like to be a new franchise owner?
Is owning a franchise really as good as they say? Is it worth the hype? Here’s info straight from the source—franchisees themselves. You can’t get more real than that.
A groundbreaking survey from Entrepreneur / Franchise Business Review of over 232 people who bought a franchise in the last five years pulls back the curtain on the franchisee experience.*
The biggest reveal: quality of life
Q: Do you enjoy operating your business?
A whopping 93% of franchisees said YES.
Q: What is the biggest reason that you picked your specific franchise brand?
71% said “the lifestyle”
29% said “the money”
Q: Would you recommend your franchise brand to others?
58% said yes
16% said probably
15% said maybe
If you don’t enjoy your current job or can’t say you look forward to each work day, owning a franchise could be the game-changer you need. Almost ALL franchisees responded that they ENJOY their day-to-day work! 71% were attracted by the lifestyle change. And almost 90% would consider recommending their brand to others. Think of the difference that positivity can make in your life.
A built-in peer group
Q: How often do you talk to other franchisees at your brand?
44% said weekly
30% said monthly
17% said daily
5% said annually
A huge benefit to franchising is the ready-made support group of fellow franchisees. Survey results show franchise owners make frequent use of this network. Almost 50% speak with other franchisees at least once a week!
Choosing the industry
Q: Did you have any experience in your current industry before buying this franchise?
57% of franchisees said NO.
Don’t limit yourself to a narrow range of industries. Franchisors supply all of the training necessary for you to succeed as a franchisee. The best fit for you could end up being a business that you’re not familiar with, so keep an open mind.
What franchisees love
Q: What’s your favorite part of being a franchisee?
Answers include: “the annual conference,” “the chance to influence the culture of the company,” “In my previous career, regardless of how good I was or how certified I may have been, there was only so much that I could have made. With this business, my hard work will determine my upper limit.”
Coming back for more
Q: Do you plan to buy more units/territories?
26% said yes
13% said probably
32% said maybe
In total, more than 70% of franchisees enjoy their work so much that they intend to expand!
Why wait
If these advantages appeal to you, schedule a call with me. Let’s talk about the ways you can change your life.