Owning a business is the best way to write your own story, achieve financial freedom and regain control over your time. The question is: should you start your own business, or invest in a franchise? Here's 7 things to consider when weighing up your options.
1. Budget
Starting a painting business requires an investment, regardless of the route you take. Trialling different business strategies and marketing techniques to discover what works can be a costly effort when you're starting out. The benefit of a franchise is that this work has been done for you, allowing you to spend your budget on tactics that work, rather than going down the 'trial and error' route.
2. Time and Effort
When it comes to time and effort, starting a business - either from scratch or through franchising - is going to require a lot of both. The real difference is that established franchise operations like WOW 1 DAY PAINTING offer better value for your time and effort, but still provide you with the opportunity to build and grow. While the 'go it alone' guy is still working on a business plan, you can be operational within a couple of months. From the very first day you're set up for success, with tried-and-true marketing strategy, and access to existing customers who will love your results.
3. Support
Becoming an entrepreneur and founding a startup company can offer you flexibility and autonomy. What owning a franchise offers is the best of both worlds: the freedom to be your own boss, with the back-end systems and support of a trusted brand. You'll be supported on all fronts, from recruitment and customer service to marketing and a centralised booking system. In addition to having a team of people who understand the business and are invested in your success, you'll also be part of a network of fellow franchise partners, who can offer advice as you navigate your own entrepreneurial adventure.
4. Taking the Lead
Owning a franchise means that you are part of something bigger and that you're set up for success ? but it still takes hard work, grit, and good leadership skills to get your business off the ground. As an owner of a WOW 1 DAY PAINTING franchise, for example, you will lead crews of painters, honing your business and management skills to create a legacy you can be proud of.
5. Sustainability
Is your business model sustainable? Part of the fear of starting a business from scratch is the unpredictability. With franchising, your business is built on the success and predictable outcomes of a tried-and-true system for business operations. For example, WOW 1 DAY PAINTING is part of the O2E Brands family, and the simple but highly scalable O2E model has allowed hundreds of ambitious, hard working people (like you) realize their dream of business ownership.
6. Brand Recognition
It is no secret that people trust a brand they know and like, so gaining sufficient brand recognition is a big part of achieving success. When you start your own business, this can take a long time - the benefit of a franchise is that you already have great reputation and recognition, right from the very first day. No, there's never a guarantee of success, but owning a franchise means choosing a business model that has been proven to work.
7. Overall Marketing Benefits
While wearing many hats is one of the benefits of owning your own business, sometimes it's better - if not essential - to rely on the expertise of others. That's what franchising offers: a team of marketing experts who have your back, and who know exactly what they're doing - both at national and local level.
For more information on how to start your own business with WOW 1 DAY PAINTING, contact us today.