Franchising Vs. Starting Your Own Business
At JBF, we get it. This is a big decision for you and your family. You want to make sure you’re making the right choice.
You need good information to make that choice and we want you to have it.
That’s why our team has put together an overview of the benefits of franchising—and what you stand to gain as a JBF franchisee.
Let’s take a look.
Franchising Is Typically More Affordable
First things first: Let’s talk money.
Every business in every industry requires different financing. However, whatever business you decide to start, experts recommend having at least six months of operating costs under your belt at startup.
Again, each business is different and therefore requires different start-up capital. The funds you’ll need to get a solid start will depend on your industry, but most every business will need to account for the following costs to get started:
- office space
Some of these, like payroll, can cost you up to 50% of your entire budget!
The costs of starting your own business begin to add up quickly, which is why many turn to franchising.
The cost to franchise
Typical franchise start-up fees range from $20,000-$50,000. Master franchises are considerably more, costing at least $100,000 (and that’s not including the above factors, like equipment, payroll, etc.).
One of the many reasons a growing number of moms are choosing to own a JBF franchise is because it’s one of the most affordable franchises to own.
The JBF franchise fee is $17,900, and total start-up costs come out to roughly $38,000. Both of these figures are well below the industry standard!
It doesn’t get much more affordable than that!
The Groundwork Is Already Laid Out for You
Money aside, there’s the matter of a business plan and operating system and your brand.
Developing your own operating system, training program and marketing initiatives—as well as building your brand—is no small task.
Fine-tuning your system alone can take years to get just right, and increasing brand awareness and building trust with customers also takes considerable time, expertise, and capital.
A franchise makes sense for people who want a proven business plan and a familiar brand to start with.
You Have a Greater Chance of Success as a Franchise Owner
Because you’re buying a strong, reputable brand and operating system, your odds of success are already high.
Starting your own business from scratch carries more risk.
Statistically speaking, startups have a higher failure rate compared to franchise businesses: “[Twenty-five] percent of startup businesses fail within their first year, 50 percent of the remaining fail within five years and approximately 30 percent of the remaining last ten years.”
If you’re looking for a “safer bet,” so to speak, franchising is the way to go.
We’d love the opportunity to discuss the amazing benefits of owning a Just Between Friends franchise. Call us today at (918) 236-0834 or visit our website to learn more.