Why Get a Franchise Business?
This reader was asking why she should get a franchise business? Let us call her Annabel.
Dear Mr. Bartolome,
Let me introduce myself. My name is Annabel a mother of three growing children. My eldest is 22 years old and just finished her studies in a known culinary school in Makati. The other two both boys are in high school. Being a single mother, I was able to make both ends meet.
Their father left us some 12 years ago and never to be seen. Life was challenging I must admit. However, you are correct when you mention on strengthening Faith in the Almighty.
My daughter plans on putting her own small eating-place. The menu will be highlighting her culinary discovery. The amount of investment is on the high side. I brought up the idea of franchising. From the articles you wrote there are now over a thousand various businesses to select.
Her only comment is why franchise when she can create and start up a business? She may even later if things go well plan of franchising the business concept?
How do you I go about this?
Congratulations for having brought up three wonderful children on your own. I know the difficulties you encountered may be so good to become a blockbuster movie. To be a mother is a blessing from above. Our Almighty having our Blessed Mother endowed you and every mother the grace to have the courage and strength in overcoming trials. This is one reason why I always propagate to have FAITH. God always listens and grants if asked in His mighty name.
Your daughter having completed her culinary studies dreams of seeing her eating-place a reality. It is a masterpiece to have people rave about their gourmet cooking.
Setting up a place she likes is a high investment. This is aside from finding the location and management aspect. Starting a business is a combination of many trial and errors. Statistics show that from among the first 5 years, a big chunk of 80% start-up never reach the said period. The advantage of franchise business may be attributed to having the proven concept. It means there is acceptance, identified procedures, a healthy profitability. More people resort to franchising because of the brand recall.
If your daughter likes, she can shop or see what gourmet franchises are in the market. Her experience may even further enhance the selected franchise. Think about it.
Her comment on possibly franchising her concept may be true too. Yet is she ready to face and have a good roller coaster ride in the day-to-day business challenges?
Should she have further questions, tell her to freely e-mail me at firstname.lastname@example.org.
By the way: Mark Your Calendar for November 29,2014
There will be seminars for Franchise 101 and 102. Kindly visit www.affi.com.ph.