Starting a business comes with many decisions, including having to choose a business structure that is best suited for you and aligns with your business goals. There are benefits and disadvantages to each type of business strategy to consider as you develop your business plan and make a final decision that is right for you. One option is franchising, a business model in which the franchisor sells the rights to a franchisee to operate a business that sells their goods or services under the existing brand. Franchising is a popular way for an entrepreneur to start a business with an established company’s brand name rather than starting from scratch and building your own brand. 

PROVEN PROFITS

Franchising can be an attractive way to start a business, as the structure is already established, and the brand has credibility and recognition in the market. With franchising comes the initial and ongoing support of the franchisor in the form of training, access to vendors, and marketing programs. A few other benefits to franchising include:

Established Brand & Economies of Scale

Franchising allows you to leverage an established brand which can help attract customers and increase the chances of success for your business. Additionally, franchises can often negotiate better prices when purchasing supplies due to an increased purchasing power.

Lindsay Miller is the president of LYCON Wax North America. Having first discovered LYCON Wax in the United Kingdom 10 years ago, she has dedicated her time to growing the brand across North America, including introducing LYCON to Canada. Training and product quality are extremely important to Miller and she prides herself on building a strong team around her that can offer the best customer experience possible. LYCON continues to be a market leader in hair removal wax and is used in top spas and salons around the world.