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Heartland Regional Franchise Expo & Trade Show
June 21, 2023 · 10am – June 22, 2023
Louisville, Kentucky

In-person & Virtual Hybrid Show
The Virtual feature of the Expo allows us to reach, Perspective Franchisees, Franchisors, And Suppliers from around the world to attend the show!

A small step to the Expo, A big leap to a better experience!
We will be in-person and online. Experience a Franchise Event a better way! Attendee interaction with Video, Audio, and Text Chat.

Use the promotion code (EarlyBird) to get a 30% discount on all exhibitor and sponsor packages.

34 booths have been sold and 357 attendees have registered! Don’t wait.

Contact us for custom packages.

Register Today!
lou-franchise.com
502-540-9924

Franchising can be a tempting business avenue to pursue. Here’s everything you need to know.

• A franchise is a business model that allows owners to sell goods and services under an established brand as a part of a leasing agreement.
• Franchises offer various benefits that differentiate the model from typical small businesses. 
• You’ll need to follow a legal process when starting a franchise to protect the franchisee and finalize the agreement with the franchisor. 
• This article is for anyone exploring the potential of franchising a business. 

More times than you can probably remember, you’ve likely visited a 7-Eleven, KFC, McDonald’s or Dunkin’ to enjoy the convenience and services of a brand you know and trust. These businesses are products of the business expansion practice called franchising. Their owners invested in a known brand in hopes of finding business success. 

Franchising allows bigger businesses to branch out and grow while giving entrepreneurs and small business owners a chance to run their own operations with the help and support of a larger organization with a proven formula for success. 

Franchising is a tempting way to find business success. However, it’s essential to understand what’s involved before taking advantage of this less risky – yet still rewarding – option for starting a business. 

Author:

Bassam Kaado

Business News Daily Contributing Writer

Updated Nov 14, 2022

How is a franchise different from other small businesses?

Business franchising isn’t for everyone; many would-be entrepreneurs prefer to start a business from scratch. Both franchising and starting a new business have benefits and disadvantages, and being a business owner in any capacity is risky. 

Here’s a look at how franchising differs from starting a new business:

• Franchises have less freedom. Starting your own business gives you the freedom to make every decision, small and large. This freedom allows you to create your vision, but it can be overwhelming. With a franchise business, you have less freedom but more support. You sign an agreement outlining all conditions. You receive the tools, support and structure to run the business as laid out by the franchisor. Franchisees usually lease all necessary equipment.
• Franchises enjoy instant brand awareness. When you start a new business, you’re tasked with building a brand according to your vision. Brand building can be challenging but rewarding. When you open a franchise, you enjoy instant brand awareness. Your brand is established; however, you don’t have the freedom to tweak it to your liking.
• Franchising startup costs can be high. Starting a new business and opening a franchise both require significant monetary investments. Business startup costs can range from a few thousand to tens of thousands of dollars. Franchise funding can be pricey; you’ll likely need to secure a loan or line of credit to cover franchising fees and real estate costs. However, you may be able to use your franchisor’s investor relationships to secure funding.
• Franchise business operations are standardized. Day-to-day operations are different for franchises and original small businesses. Franchises are meant to be the same regardless of where you go; think of the Subway or Chipotle assembly-line meal-creation format. A small business doesn’t have to follow any specific format and can operate how the owner wishes.Franchises have a large pool of buyers. If you want to sell your independent small business, you can enjoy significant profits if you find the right buyers. Selling a franchise means you’ll have a larger customer pool that wants to benefit from the brand name. If a franchise owner can’t find a buyer, the franchisor may be willing to buy back the operation. However, an independent small business owner may be out of luck if they can’t find a buyer.

Tip: If you’re applying for a franchise loan, concentrate on boosting your personal credit score because you won’t yet have a business credit score.

Author:

Bassam Kaado

Business News Daily Contributing Writer

Bassam Kaado is a New Jersey based writer, communications specialist, and artist. He has over a decade of freelance and small business Public Relations and Marketing experience that includes both B2C and B2B focuses. He has over a decade of experience as a copywriter, ghostwriter, and copy editor, in both business and creative disciplines. Bassam also has worked within the entertainment business and is an active artist.