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First you need to have a lot of money and above all a great idea for a business. And what if it fails? Therefore, if you want to establish your own business, but you’re worried about entering the market with a new brand, you may be interested in the possibilities which franchises can provide.
What is a franchise?
Opening a franchise is the answer for those who want to start their own business, but are afraid of entering the market with a new brand or immediately want to cooperate with a large business partner who valued on the market.
The new entrepreneur, i.e. the franchisee, receives from the franchisor the possibility to use his logo, knowledge and sales methods - he buys a license under a franchise agreement. This allows to use the marketing opportunities of a leading brand - you will avoid advertising expenditures, which are usually a fairly large part of the cost of running your own business.
The risk that the business will fail is significantly lower. In addition, the entrepreneur enters the market with a well-known and valued brand, which allows to build customer confidence.
Which industries offer the greatest opportunities for franchise development?
Franchises are most often associated with brands of well-known restaurant chains or beauty and hairdressing salons. However, as it turns out, also other industries provide great development opportunities, and thus revenue. It’s worth taking a look at practically any franchise offer from the automotive industry (cars franchise).
One of the most popular forms of earning a franchise connected with cars is running a petrol station under the logo of a well-known brand of a fuel producer or a chain of petrol stations. But that’s not all. You can start cooperating with an automotive or car parts manufacturer by opening your own repair shop, becoming an authorised partner or a franchisee of the brand. Another idea is to open a car dealership or accessories store under a popular automotive brand, or even a car wash.