IS SMALL BUSINESS FRANCHISE CONVERSION RIGHT FOR YOU?

Entrepreneurs usually choose to open a business that they’re passionate about or have experience with. The startup process can be exhilarating, but many owners aren’t prepared to deal with tasks they might be less familiar with, such as marketing, inventory, payroll, and more. These tasks can take so much time!

Even though opening your own business can be incredibly fulfilling, it can be difficult to build and maintain it alone.

Here are some challenges that many sole proprietorships face:

  • Building a well-informed business plan
  • Establishing a customer base from scratch
  • Build a recurring customer base
  • Trying to do it all (marketing, sales, business systems, and more)
  • Seeking work-life balance
  • Managing business reputation
  • Finding and retaining good employees
  • Maintaining a strong digital presence

These struggles are some of the key reasons that so many people choose the path of small business franchise conversion. An established franchisor can take the weight off your shoulders when you convert your business to their brand.

Franchising as a Small Business Growth Strategy

When you choose to convert a business to a franchise, there is a support network behind you. Excellent franchisors take care of many tasks so you can focus on your passions and talents. It’s still your business, but you’re using franchising as a small business growth strategy and a path to work-life balance.

Choose a well-known franchisor that already has established systems such as training programs, marketing and advertising strategies, modern technologies, and equipment discounts. That way, you don’t have to lose the progress you’ve made or take unnecessary risks—problems you’re trying to avoid with your current business!

Converting to a franchise with a nationally recognized brand is especially beneficial. Customers will already have a positive view of your locally owned franchise, which can lead to faster growth.

Connect with a Franchise Advisor Today.

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How to Turn Your Small Business into a Franchise

Here are the key steps:

  • Take the time to prepare your staff.
  • Carefully evaluate franchise opportunities.
  • Interview your top franchisors to choose one. Ask questions about all key changes required during the small business franchise conversion, as well as pros and cons of owning your chosen franchise.
  • Review and sign a franchise conversion agreement.
  • Finance your franchise, and pay a franchise fee.
  • Learn the franchise’s brand guidelines and established systems. Quality franchisors offer orientation, conferences, and ongoing business training to help with this.
  • Run your business as you enjoy more freedom and quality of life!
  • Pay any ongoing royalty fees.

That’s the short explanation of how to make your business a franchise! The process depends on the franchisor, however, so keep this in mind as you’re doing research. Some companies don’t do franchise conversions at all, as they’re only looking to create new locations or sell existing units (when a current franchisee retires or decides to sell).

Benefits of Converting to a Neighborly® Franchise

Do you currently run a business in the home service industry? Consider converting your business to a Neighborly home service franchise. These are the most common Neighborly brands that current business owners transition to: Aire Serv® , Rainbow International®, Mr. Rooter®, The Grounds Guys®, Mr. Electric®.

Here are just a few benefits of owning a franchise with Neighborly:

To learn more about Neighborly's opportunities, contact us online or call (888) 387-8018 today.

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