In the dynamic landscape of entrepreneurship, opening a franchise stands out as a compelling pathway to success, supported by facts that prove its advantages. With over 90% of franchise businesses still operating after five years, compared to only 18% of independent startups, the appeal is evident. This success is attributed to several key factors.
Established Brand Recognition
Franchises offer instant access to well-known brands, backed by years of market presence and consumer trust. Various studies over the last few years have shown that over 70% of consumers are more likely to choose a familiar brand over an unknown one. This built-in brand recognition not only attracts customers but also accelerates the growth of franchise businesses.
Proven Business Model
A successful Franchise operates on proven business model that has undergone extensive testing and refinement over a considerable period of time. Research indicates that franchise businesses are 75% less likely to fail compared to independent startups. This is due to the meticulous planning, market research, and operational strategies implemented by franchisors, which significantly reduce the risks associated with entrepreneurship.
Source: IFA
Explore Franchising with Snap today!
Fill out expression of interest form with a Snap Franchising and get a call back instantly.
Training and Support
Franchisees receive comprehensive training and ongoing support from the franchisor, which significantly enhances their chances of success.
Franchisees receive initial training and continuous support thereafter. This support network equips franchisees with the necessary skill, knowledge and confidence to navigate challenges and capitalise on opportunities, ensuring long-term viability.
