If you are considering starting a business, but not quite sure where to begin, you will definitely want to consider buying a franchise. Franchises, such as many fast food restaurants, quick lube auto shops and convenience stores, provide a heightened level of financial security for the would-be business owner, but they are not foolproof, so be sure to talk with your business broker and other financial advisors prior to pulling the trigger. However, for many people, franchises are the best way to break into business ownership, here’s why.
Easier to Finance
Lenders are more likely to offer financing to a person that is pursuing a franchise opportunity due to the success of the existing brand. Some franchise systems even offer in-house financing with great rates.
Instant Brand Recognition
In most cases, when you purchase a franchised business you’re essentially starting a new branch of an existing business in a place it has yet to reach. The brand is already recognized locally, regionally or even nationally. People are going to pour into the shop simply because of its name.
New franchise owners will generally be provided with high quality training direct from the corporate offices of the business. Additional training will occur at the location of the new franchise to ensure your business is ran the same as all other franchised locations to ensure efficiency and reduce the chances of common mistakes often made by new business owners.
Tested System in Place
When you purchase a franchise you are buying a complete system, a method of business is to be conducted. This allows you to get up and running quicker and with more success.
While many franchise agreements require the new business owner to spend a certain amount of money on local advertising, your new business will also benefit from the high dollar corporate marketing and advertising done by the home office of the brand.
Track Record of Success
Since franchise business utilize a system of operation across all locations, it means that the system works. This of course translates to a higher likelihood of success.
When it comes down to it, a franchise is essentially a turnkey business, aside from perhaps building the actual location. Buying a franchise system is buying into what has already experienced great growth and success, and now it is your turn to experience that success.
If you are interested in buying a franchise in Michigan reach out to the expert business brokers at MWV Consulting - An Affiliate of Empire Business Brokers. We will work with you to identify the right type of franchise for you to ensure the highest chances of success. If you have any questions about buying a business don’t hesitate to call us at 248-450-5845 . We look forward to helping you start a business in Michigan.
For 25 years MWV Consulting - An Affiliate of Empire Business Brokers, CBB, has been providing professional business brokerage services throughout Michigan. Our team of dedicated agents work with buyers, sellers and investors interested in all aspects of business and commercial property ownership. We have outlined five of our top services in this blog, giving you a better understanding of how we can help you with your goals.
We regularly complete accurate business valuations for our clients. We look at all corners of the current operation to provide a truthful assessment of cash and assets, including existing debt, property value, past tax returns and much more. Our thorough Michigan business valuations will give sellers and buyers a fair look at the current worth of a company.
When it comes time to sell a business you can trust MWV Consulting to get you the best possible price. We seek out buyers looking for businesses just like yours, ensuring a smooth and easy transition for all parties involved. We are happy to list businesses at no cost to the current owner.
Purchasing a business can be very exciting, but it is a decision that takes a lot of research and care. Our business purchasing agents will help you understand the current status and profits of a business you’re interested in, ensuring you make an informed decision. We also offer business financing, for those who qualify.
Commercial Real Estate
Whether you’re an investor or looking to start a business, we can help you find the perfect commercial real estate for sale in Michigan. We have a wide selection currently available and are constantly adding new properties to our portfolio.
A great way to break into business ownership and operation is to begin a franchise of an existing chain. MWV Consulting offers full franchise services, including franchise sales, franchise development and more. We currently represent more than 85 franchises.
To learn more about the Michigan business brokerage services offered by MWV Consulting please give us a call at 248-450-5845 to request an initial consultation. We would be happy to chat about your current goals surrounding buying or selling a business . Call now, and let’s sell or buy a business in Michigan for you!