Should I Buy A Franchise Resale Or Start A New Franchise?
Purchasing a franchise and becoming a franchisee always gives you a jump start into business ownership. When you buy a franchise you already start at the halfway mark because all the trial and error is done and the business you are buying into already has a good footing in the industry, whatever it may be.
Take 7-Eleven for example. You can start a new convenience store business from the ground up, with a new name and no customer base OR you can start with a business that is already known for being a high-quality store with delicious Slurpees.
Both types of businesses (starting your own or franchising) have pros and cons to them, but If you are ready to enter the business ownership world, it’s no surprise that franchising is a great way to go. If you are able to follow along with the guidelines set forth by the Franchisor (main franchise owner), then you already have one foot in the door to success!
But now the questions, “Should I buy franchise resale? Or start a new franchise?” come up and it’s all based on what is best for you!
Let’s take a look at what it means to buy a franchise resale and how it differs from choosing to start a new franchise.
Buy Franchise Resale
If a franchise in your area is up for sale, it might pique your interest to look further into it if you’re interested in becoming a franchisee.
However, owning a franchise means more than just owning the name and managing the business. You want to make sure that the business aligns with your goals, values, and interests. Why would you want to own a business that you have no passion for?
It’s also important to note that when you want to buy a franchise resale, you don’t automatically become the owner.
You will have to go through the same process as the original franchisee did when they wanted to start the business.
You’ll go through interviews, training, and more in order to follow suit with the franchise values.
The main perk about buying a franchise resale is that you are already investing in a business with a steady stream of income, a customer base, and history in the community.
As long as you are passionate about the franchise resale you are considering buying, then you are already halfway to success!
Starting A New Franchise
If you are passionate about a specific product or service industry (I.E. cleaning business, specific restaurant, pet care, education, etc.) it might be in your best interest to start from scratch and start a new franchise in your town.
Starting a franchise business still gives you a head start compared to starting your own business because again, a lot of the trial and error and work has been done for you on the back end.
You will have a list of vendors to purchase from, marketing material, training guides, recipes, products, services, and more to start with.
As a business owner, this is a huge bonus because you know you have mentors and advocates to help you along the way compared to doing it all on your own.
Your franchisor and the business franchise team will be there every step of the way to guide you through.
You’ll go through proper training and learn to run the business according to their already successful plan.
It takes a lot to get into the franchise world because you need to have all your boxes checked when applying for franchise ownership, but once you get approved to become a franchise owner, the world is at your fingertips!
It’ll take some time to build or start the franchise from scratch if you are starting a new one compared to buying one that’s already established, but if you are passionate about it and the partnership seems like a match made in heaven, the wait is worth it!
Discuss Buying A Franchise Resale Or Starting A New Franchise With MVision Franchise Today!
If you’re interested in becoming a franchise owner but are on the fence between buying a franchise resale or starting a new franchise, let us help!
Owner and founder of MVision Franchise, Marc Camras, has decades of experience in the franchise industry and has worked with hundreds of people, like you, to become successful franchisees.
With the largest network of franchises and startup concepts, MVision Franchise can help you find the perfect fit!
You’ll learn about selecting the best franchise model, the steps it takes to become a successful franchise owner, what franchises thrive in a recession and much more when partnering with us.
To learn more about Marc Camras, and how to partner with MVision Franchise, continue browsing our website and reading our articles.
You can also schedule a call to have a more in-depth conversation about buying a franchise and starting on your new journey to business ownership!