Virtual Vs. Brick And Mortar Franchises – Which Is Best?
If you’re ready to start your own business, why not take a look at franchising?
Are there benefits of owning a franchise business? ABSOLUTELY. Here at MVision Franchise, that is what we are all about!
There are incredible benefits to franchising which we’ve discussed in several of our articles (check out our blog page).
Today, however, we are discussing virtual vs. brick and mortar franchises and which is better for your needs!
What Is A Franchise?
In order to grasp which type of franchise is better for you, you need to understand exactly what a franchise is.
A franchise is a simple business model where a business owner finds success in their business and then allows other people to “buy in” and use the brand, logo, likeness and run their business like it were the original.
Nothing changes about the business except that a new business is now owned and operated by a franchisee while the franchisor oversees the parent business and the franchises they’ve created.
It benefits you, the franchisee, to purchase a franchise because you don’t have to build a business from the ground up and can start experiencing success from the day you open the business.
Brick And Mortar Businesses
A brick and mortar franchise involves an actual store (retail, restaurant, gas station, etc.) and running it as so. McDonald’s, 7-eleven, Ace Hardware, and Starbucks are just a few examples of a brick-and-mortar franchises.
Fast-casual franchises like Panera Bread or Chipotle are becoming the most popular “type” of franchise because it marries fine-dining and fast-food restaurants together for a new, modern eating experience.
Brick and mortar franchising is a great option for those looking to invest in a business, transition careers, or even come out of retirement.
Virtual Franchise
Virtual franchises are also known as home-based franchises.
Home-based franchises are becoming increasingly popular, especially since people found they liked working from home during the COVID-19 pandemic.
As a home-based business, you’ll still be expected to communicate and interact with the franchisor, but you’ll be able to set your own schedule and do things at a more leisurely pace compared to a brick-and-mortar business.
Some examples of a home-based/virtual franchise are:
- Travel agencies
- Pet care services
- Personal training services
- Marketing
- Cleaning services
These businesses cost significantly less to buy into because there is no overhead, products, or things like rent and utilities to pay for.
With home-based businesses, you are more than likely selling services vs. products like you would primarily with a brick-and-mortar franchise.
Need Help Deciding Between A Virtual Vs. Brick And Mortar Franchise? – Let MVision Franchise Help!
Here at MVision Franchise, our goal is to connect an entrepreneur with the best possible business model for them. We have the largest network of franchises and start-up concepts which ensures you get the business best match.
Not sure which is better when it comes to virtual vs. brick-and-mortar franchises? We can help you decide and then help you succeed!
Owner Marc Camras and our team make business ownership for beginners easy with our process.
To learn more about Marc Camras and how we can help you become a franchise business owner, schedule a discovery call today!