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Common Franchise Myths – Busted! – Study Abroad Consultants
- November 19, 2020
- Posted by: Aradhana Pandey
- Category: Education
For today’s generation of entrepreneurs, the concept of franchising is not new as it has flourished itself quite well in the past few years. Franchising is considered to be the most beneficial model of business and has received global recognition as well.
There are so many business aspirants who find themselves sceptical towards choosing the franchising model despite all the facts and figures working in favour of franchising. The reason behind this is due to the baseless myths that prevail in the business world. Read on to know the four most common myths about franchising busted right away
1. Franchise Business is too Expensive
Starting your own business from scratch gives you very low probability of becoming a successful venture although it takes so much of money and resources. On the other hand, buying a franchise, is easier to start and gives you the access to the franchisor’s systems. As buying a franchise gives you majority of the things readymade with the liberty to run the business your way with an access to their corporate resources. This is more than sufficient in busting the myth that franchise business is way too expensive.
2. Franchisors are Control Freaks
To say that the franchisor controls the business is not completely true. To help you gain traction for your newly established business the franchisor will provide you with certain guidelines and valuable advice. The scale of your business and how big or small you want to make it is ultimately your decision as the business owner who has the complete control. Develop a business plan that aligns the goals of both parties – Franchisor and franchisee, to achieve their different goals by both working together.
3. Non-Creative Venture
It is definitely worth owning a franchise if you are a creative person because it’s entirely up to you how to run the franchise business as the franchisor provides you with only the basic framework and then rest of the business needs to be done by you. Of course, when it comes to copyright infringement, there are some restrictions on your side. But keeping that aside, you get the full room to explore your creativity in all the business fields like management, hiring, marketing and brand awareness. To help the franchise reach success is the duty of the franchisor with clever ideas that could help in doing so. Therefore, a franchisee needs to be creative, contrary to popular belief, to make the venture a success.
4. Expertise in the Field is a Must
In the field that you want to enter as a franchisee need not be your field of expertise. soft skills such as leadership, work ethics, passion towards work, communication, confidence etc. is what franchisors look for before selecting the perfect franchisee. They do not look for somebody who is a genius of the field. Everything will fall into place if you are passionate towards the franchising business model, and you will be chosen to be a franchisee right away!
These were the most common 4 myths about franchise business.
As the 4th myth is busted, you can take up a franchise business too, if you have an inclination towards it and a little passion about the franchise sector.
Are you interested in the study abroad sector?
Well, this sector has always proven to be successful in the past 2 decades as the study abroad aspirants are increasing in the world exponentially. It is a known fact that the academic career and the professional career both gain high standards, by achieving a foreign degree. This has given risen to number of studies abroad consultants. In order to cater to the rising number of students aiming to study abroad, new franchises have branched out. You can become a study abroad franchisee too.
The students have not lost hopes in studying abroad even during the time of COVID-19 pandemic, as the universities are planning for blended learning options. In this time of uncertainty, the students are looking forward for the right consultancies that can guide them and give them the right information and bridge the gap between them and the universities. This has given rise to study abroad franchise opportunity in India & South East Asia.
So, keep aside the myths as they have been all busted and venture into the franchise sector. As mentioned above you can try the overseas education sector, if you have interest in the education field.