The Benefits of Franchising vs. Starting a New Business
At least 62% of people want to start a business to gain more independence or follow their passion, but financial fears and uncertainty often stop them in their tracks. Franchising provides an operational guide and support to help you streamline the start-up process and keep your path to business ownership perfectly organized. Learn more about the benefits of franchising versus starting a business on your own.
Why You ShouldStart a Business
If you’re tired of slowly climbing the corporate ladder or exhausted from the 9-to-5 routine, entrepreneurship puts you in control of your destiny. You’re responsible for your schedule, earnings potential, and growth trajectory. Entrepreneurship can be rewarding and instill a sense of purpose. A study conducted by Homebase reveals that 91% of business owners are happy in their roles.
Starting a business from scratch, however, can be daunting. To be successful you’ll need to create a viable business model, build brand recognition, and have industry experience. Handling these tasks on your own can be a heavy load. Figuring out pricing, target markets, and operational processes without proven frameworks is difficult. Many startups falter due to financial mismanagement or insufficient funding. Breaking through the noise in competitive markets is difficult and requires a large advertising budget.
Top Benefits of Franchising
Franchising mitigates many of the challenges associated with starting a business from scratch. It can be a safer and more efficient way to become self-sufficient and achieve financial freedom. Let’s explore four advantages of buying a franchise:
- Brand recognition: A franchise has a proven track record of success. It comes with a recognized customer base and is already a trusted name in many markets.
- Turnkey business: A franchise has operational guidelines. These systems have been refined and tested, reducing the trial-and-error startup businesses face. They’re also designed with growth in mind, making it easier to add locations as you build a customer base.
- Support and training: Most franchises have comprehensive initial training to get you up to speed on the industry and the tools you need to be successful. They also offer ongoing guidance and business support. Franchisors stay on top of changing market trends and new product development so you can concentrate on building your business.
- Peer network: While a franchise does require an initial franchise fee and ongoing royalty payments, you’ll gain access to a network of peers to turn to for advice and guidance. You won’t be alone in your business venture.
H2: Organize Your Future with The Tailored Closet
The Tailored Closet is a whole-home organization franchise designed to help customers tackle clutter. We debuted in 2006 and now have approximately 200 home service franchise territories across the U.S. and Canada. Our business model has solutions for closets, craft and hobby rooms, mudrooms and entryways, home offices, laundry rooms, and pantries. We also offer space-saving wall beds.
Demand for multi-functional spaces and home offices is prompting people to turn to home organization solutions to make room. The home organization products market is on track to reach $15.3 billion by 2028, according to Freedonia Group. Modular units for closets and other rooms are expected to drive growth, making it an ideal time to invest in The Tailored Closet franchise.
In addition, The Tailored Closet is a home-based, management-focused franchise with a low initial investment. Our franchise is scalable. Each protected territory starts at 75,000 households. Local owners simply need to add territories and staff to expand their footprint.
The Tailored Closet is backed by the strength and infrastructure of Home Franchise Concepts® with over 30 years in franchising. Home Franchise Concepts is a subsidiary of JM Family Enterprises®, a privately held company with $22B in annual revenues, providing leadership and stability like no other franchisor.
Ready to Be the Boss?
We’re looking for goal-oriented people who have a knack for managing people and projects. We’re targeting major metropolitan areas for growth, such as Boston, Chicago, Pittsburgh, and Los Angeles, as well as numerous other areas across the U.S. and Canada.
Inquire now to learn about opportunities near you and to connect with an advisor from our franchise development team.