Are you thinking about buying a franchise but you are not sure if the idea is a good one? Here are ten good reasons to go ahead and pursue your dream of owning a successful business and living in a country that others only ever dream about.
- Proven business:
- Opening a franchise comes with the advantage of knowing that this business has been successful in other locations. The idea and process of running this business have already been proven. Therefore the learning curve in operating the business can be virtually eliminated.
- Lower risk:
Risk of failure is much lower with a franchise than starting a brand new business. There is a much higher likelihood of success if the same business has done well in other areas and you follow the operating systems put in situ prior to you opening
- Established customer base:
The brand name that comes with the franchise is already recognizable to consumers, without the franchisee (purchaser) having to spend a lot of money and time in establishing a new brand. The brand awareness provides security and trust to the customer who expects uniform quality to be provided. Therefore a customer base is already established.
The franchisee can benefit from any advertising or promotion that the franchisor (owner of the franchise) does at the national or local level, without absorbing the cost. The franchisor can also provide input to the franchisee on a local marketing plan.
- Initial and on -going support:
Training and support is usually part of the deal. Since the franchise company has a vested interest in how well you do, on-going training, system upgrades, product enhancements, and question and answer resources are provided. The franchisor offers experience to franchisee in such areas as accounting procedures, personnel and facility management, Thai law (including work visa’s, accountancy and business planning.
- Exclusive territory:
Rights are exclusive for the territory, with no other franchises sold in the same area as competition.
- Ease of funding:
We can look to provide partial funding for our Franchisees from our own funding sources.
- Purchasing power:
Relationships with suppliers are already established; affording the opportunity to buy in bulk, enabling a great deal of savings for the business.
- Pre-purchase information and research:
The potential franchisee can make an informed decision because of information that can be obtained prior to purchase. We provide the franchisee with detailed information including the company’s history, information about the officers, litigation history, audited financial statements, the franchise agreement, a works and costs schedules, profit & loss projections based on past experiences, research into a proposed area and a current list of franchises with owners’ names and contact information.
- Solid economic niche:
The fastest accommodation growth in the tourist industry