Taking a franchise is always going to be a big decision in an entrepreneur’s life. This should be a well thought over decision that should not be taken hastily. Keeping a few points in mind will be helpful in this regard.
Franchising is nowadays prevalent in a range of other sectors, such as retail, services, and food and consumables. Numerous entities associated with academics also operate on the franchise business model. They include tutoring franchises.
Let us take a look at the reasons that makes franchising a good business move:
Franchising gives you a great head-start
By investing in a franchise, a franchisee benefits in the format of branding, from the brand name of a well-established company. He also benefits from working over a tried and tested business plan, which greatly accentuates the odds of a franchise coming across success.
Results of a recently conducted study show that 80% of small businesses wind up within 5 years of their inception. This is much higher as compared to the failure rate of franchises, which is around 20%.
The parent company’s support is not the only reason why taking a franchise is a good business proposition. The alternative ensures that one is not entering a new industry by oneself.
Franchisors frequently lookout for franchisees who will turn out to be proactive brand ambassadors. Beyond the parent company’s support, the success of a franchise depends on the franchisee’s enterprising spirit and hard work. A franchise calls for active involvement on one’s part. Leading by example may be the best way to keep the staff motivated.
More cost-effective than starting a business from scratch
Each franchise cost is different from the other. But, the relatively lower costs associated with a tutoring franchise does not reflect over its potential for success and growth.
When considering the prospect of buying a franchise, a franchisee should be prepared to pay for the up-front costs, staff salaries, and operational charges, while he achieves the break-even point. He can then start making profits.
You can work with Success Tutoring
In terms of the expenses incurred, a tutoring franchise is among the most affordable alternatives available for a franchisee. Success Tutoring is the best tutoring company in Australia. The company makes it simple for a franchise to find success. The franchisee has the potential to reach the break-even point in less than six months when they take a franchise from Success Tutoring.
Success Tutoring supports its franchises in numerous formats. They provide training for the franchise’s entire staff. Furthermore, they send over a success kit which ensures that the franchise can operate with full strength right from day one.
The success kit comprises of physical and digital peripherals that the franchise would require for the initial few months of their operation. This includes advertising and marketing material, furnishing such as a comfortable seating arrangement for tutors and students, stationery, and a kitchenette for the staff. Similarly, digital transferrable includes extensive notes and information, training modules, and shared resources, such as previous exam papers.
The success kiosk, customisable to meet a franchise’s requirements also makes a part of the success kit. The success kiosk simplifies customer service at your franchise and keeps business operations organised.
Furthermore, HST also forwards ongoing marketing support for your franchise. They make design solutions and innovative promotions available for your brand. This brings more students to your centre. Franchisees also get elaborate digital marketing catalogues that they can personalise and use.
All these factors cumulatively make it a good decision to take a franchise from Success Tutoring, and enhance the odds of your franchising business finding success. If this sounds like something you’re interested in, learn more about franchising with Success Tutoring by downloading our information booklet today!