While The Great Resignation has ended, it is not business as usual for workers in the United States. The “Big Quit,” which saw over 50MM Americans leave their jobs in search of better pay and career options, revealed what many of us have known for years: we are tired of the status quo and want to live our lives on a whole new level. The only question is how. One option, entrepreneurship, has some well-known risk factors, many of which are due to the difficulties of starting a company from the ground up. International Franchise Business Consultant Corp. (“IFBC”) says that even though running a business will always have its challenges, they can be minimized if you can avoid the stressful startup stage. A franchise, which is already a recognized brand, could be just the opportunity you are looking for and take you on an adventure anywhere in the world.
What is IFBC?
IFBC was founded by President/CEO Harjeet Tiwana and is connecting ambitious entrepreneurs with franchise opportunities in the United States and around the world. It has done something unique in the franchise space: it has cut out the middleman and intermediaries for franchisees. The result is a streamlined process that pinpoints the right franchise for each client no matter their budget, location, or industry. The company prioritizes directness and transparency and offers hundreds of national and international franchise opportunities.
Why is now the right time for franchisees to own their businesses?
The answer comes down to the historic and projected growth of franchises in multiple sectors. In America, where 10.5% of businesses are franchises, the predicted number of franchise establishments grew 2.2% between 2021-2022. They are in almost every sector, including automotive, food/beverage, health/medical, fitness, beauty/spa, printing/signs/mailing, child education, dry cleaning/laundry, auto insurance, tax and accounting/bookkeeping, staffing, senior care medical/non-medical, home improvement, maintenance/repair, painting, plumbing, heating and air conditioning, pest control, restoration, residential and commercial cleaning, pet care and grooming, real estate, vending, and travel planning. As economies around the world continue to develop, the growth of international franchises will see a CAGR of 9.73% during the forecast period.
Why is franchising generally easier than starting a business from the ground up?
- Franchises come with established brand recognition
Harjeet explains that while you may have a strong idea for a new product or service and fill an important market niche, the reality is that it will take time to develop a customer base. “Franchises still take work, of course, but you can jump past that early stage,” he says. “You will be purchasing a franchise that comes with name recognition and consumer trust from day one. That’s a significant advantage when you consider marketing and advertising.”
- Franchises have a proven business model
Ask any entrepreneur, and they will tell you that the early days, even years, of a new business are filled with mistakes and experimentation. What works? What doesn’t? How do you recover from mistakes and go on to find success? With franchises, the best practices as well as landmines have already been identified. While the owner may still have to finetune the model a little because of the economy or their location, the bugs have largely been already worked out.
- Franchises have excellent training and support.
“As a new entrepreneur who owns a franchise, you will have the excitement of making your own money and charting your own path. You will also have access to comprehensive training on your business’ operations, marketing, and customer service,” says Harjeet. “Instead of having to search for answers, they will be right in front of you. You will enjoy the thrill of having a business while still having the security of someone else nailing down the steps in front of you. You will not be alone.”
- Franchisees often find it easier to obtain bank loans.
Access to financing, always a concern for entrepreneurs, can be easier for owners of franchises. Lenders can be skeptical of startups, which are unproven and therefore seen as potentially high-risk investments.
“It can be different for franchisees, however, because the franchisor is a recognized name,” says Harjeet. “Even better, franchisees may be able to secure funding with better terms by leveraging the franchisor’s relationship with a financial institution. There can be a very big difference between the entrepreneur who goes it alone and the franchisee who takes advantage of the work that has already been done for them.”
Some final suggestions for potential franchisees
Harjeet acknowledges that the franchise world can be a bit hard to navigate sometimes. “Remember, though, that it really comes down to having the right information, which is what we love to provide at IFBC,” he states. “To get started, feel free to see the answers to the most commonly asked questions on our FAQ page. Also, we can help you determine your ideal franchises, and our quick, free business assessment will match your skills, communication styles, values, risk tolerance, and preferred cultural work environment with the right franchise. Please reach out and book an appointment with us when you are ready to start a career in the franchising world. At IFBC, we will help you to take the right steps so that you can understand your options and make wise decisions for yourself and your career path.”
About IFBC
Founded by CEO Harjeet Tiwana, IFBC is a trusted franchise negotiator whose proven process saves time, eliminates frustration, and streamlines the search for franchise opportunities. Its team of specialists sculpts a path that transforms each client’s franchising dreams into tangible successes, both in the United States and globally. The IFBC team assists people from E2 treaty countries to get a franchise, though they must consult with an immigration attorney to receive their legal visa paperwork advice.
IFBC also operates an Ambassador Program, Franchise Consultant/Agent Program, and Senior Franchisee Consultant Program for those who would like to become franchise consultants. To kickstart your career as a franchise consultant, join IFBC and transform your passion into a profession. Please visit https://lp.constantcontactpages.com/sl/74yyKTU. For more information about IFBC, visit its website.
