It’s no surprise that things are just bigger (and many would say better) in Texas! It’s hard to argue with the state’s booming economy in contrast to the rest of the nation. Did you know Texas is the 15th largest economy in the world? In 2011 Forbes announced their ranking of best states for business and listed Texas number 1 in both “Economic Climate Rank” and “Growth Prospects Rank” and number 6 in overall score.
The strong Texas economy is just one reason why so many people open a franchise in Texas. New business owners are opening franchises in record numbers because they realize it’s much easier than starting a business from scratch or purchasing an existing business and not knowing what surprises may lurk in the dark.
If you are thinking of owning a business in Texas, here are 5 BIG reasons to own a franchise.
- The Value of The Brand: With a franchise you have the benefit of a growing brand. The more locations that open, the stronger the franchise name should become. This will increase market awareness and drive additional sales. Also a growing brand should increase the value of Texas franchises for sale when it comes time to sell
- Proven Systems: With a franchise there is no need to reinvent the wheel. When starting a small business the last thing you want to spend time on is figuring out how the business should be run and trying to implement the technology and processes required. With a franchise, systems such as sales, marketing, operations, administration, technology and many more methods have already been figured out and proved over and over to be successful by the franchise company.
- Leadership and Experience: A great franchise will be run by an executive team with a proven track record of success. They will know the industry, the competition, will be on top of evolving trends and have the time for strategy and planning. An independent business owner will be hard pressed to perform all these functions if at all and if they don’t, they run the risk of being blindsided.
- Training and Support: In a franchise business you are not in business by yourself. A franchise company will keep you up to date by training you to consistently be successful. They also will provide back up support for you and your employees so you can keep your eye on the ball and continue to grow the business.
- Exit Valuation: Franchises can command a higher price when the time comes to sell the business. A franchise for sale can have a higher sales multiple based upon the strength of the brand and supporting systems that have been proven again and again. In essence, all of the benefits described above should have a very positive impact on the sales valuation of the business. As an owner, it is exciting to know that every time another franchise like yours opens there is a strong probability the value of your franchise just increased!
Take Texas size step toward becoming a business owner.
Many people come to realize the benefits of owning a franchise opportunity but don’t know where or how to begin. They may go online and quickly get overwhelmed with the many choices and not being able to tell one from another. They can read about different franchises online but it’s a high level overview, so in frustration many just give up. Don’t let uncertainty stop you from realizing your dream of owning a business. With the help of a highly qualified franchise consultant you will be able to determine which of the many franchises are right for you and how to go through the due diligence process.
For more information on the benefits of franchise ownership and how we can help your search Contact us. There is no cost or obligation for our service.