The benefit of a franchise is that the foundation of the operating format has already been developed by the original franchisor. Everything from equipment manuals to service processes have been analyzed, documented and packaged for easy adoption.
According to the Federal Trade Commission, a franchisor may provide help with finding a location, initial training and managing the various responsibilities associated with owning your own business. Not only are you benefiting from access to plenty of advice and documentation, but a franchise may reduce your overall investment risk.
By associating with an established brand name, you are gaining the trust of consumers hesitant to try a new service or product. The time-tested success of the brand will work in your favor by attracting new business opportunity and increasing profit margins. Instead of waiting years to develop a new recognizable brand and establish a customer base, you will have one already built in.
Benefits on the consumer side of an enterprise also concern business to business relations. Franchises provide you with pre-established and dependable relationships with suppliers. Small businesses will often crumble under the weight of finding the resources to supply products or services to consumes – not so with franchises. These recognized brands have pre-existing, reliable avenues for getting supplies, whether directly from the parent company or another venue.
Franchises provide a built-in support system that can significantly help a new owner hit the ground running. This part of the franchise is particularly useful to first-time business owners.
In return for all of the benefits of owning a part of the franchise, you may be required to give up significant control over how your business is run due to contractual obligations. However, many Americans likely feel this is a worthy exchange due to the number of name-brand franchises located throughout the nation.
The Liberty Tax Service franchise opportunity is appealing to a diverse America, ranking highly for its affordability and potential. Entrepreneur magazine has ranked Liberty Tax Service on its “Franchise 500” list of best franchise opportunities since 1998. Liberty Tax Service is the only tax franchise on the Forbes magazine’s “Top 20 Franchises for the Buck” (2012). Our tax franchise is an affordable and viable business choice. Each office provides thorough, computerized tax preparation coupled with superior customer service. For the best small business opportunity in the income tax franchise industry, choose Liberty!