Franchises provide potential owners with the template for a business and an established brand. Beyond giving entrepreneurs a proven business model, franchises may help new business owners with other aspects of business, such as management. If you have no or scant business experience, franchises are especially advantageous. LearningRx is one of the top educational and child franchises in the nation. We change lives every day through the incredible power of our brain training programs! Our programs are designed to target weak cognitive skills and help anyone from age 4 to 94 achieve life changing results. Today we’re discussing some of the advantages of opening a franchise.
The benefits: When you buy a franchise you purchase another company’s business model, which means you do not have to spend time starting a new business from scratch. In addition to an existing business model, you also open your franchise with an immediately recognizable brand name! The fact that franchises are already a proven format usually means you carry less risk of failure than when creating your own company.
The time frame: In general, you can open a franchise in much less time than any other type of business. The typical franchise takes between three days and two weeks–the most complex franchises take closer to two weeks to learn.
Networking: When looking at a franchise you should contact other people with the same franchise. You will likely make some good networking connections in the franchise community because franchise owners are often willing to help you before and after you start your franchise. Our support team has a wide range of experiences – from working in sales and management, to running a LearningRx center and developing our programs.