When you think of franchise opportunities, do you think of well-established mega-brands? While there are many benefits to these legacy franchises – perceived lower risk and an already built reputation – it may come with an expensive price tag and feeling like a number in a big system. On the other hand, emerging franchises are catching the attention of business owners for their value, franchisee satisfaction and flexibility. These growing franchises may not be a household name (yet), but they have numerous advantages and opportunities for entrepreneurs to forge a path of success.
“Our Success Is Your Success” Franchisor-Franchise Owner Relationship
Emerging franchisors are working to improve their systems, processes and business model – and they know they can’t do it alone. Franchise owners who choose an emerging franchise tend to feel more passionate and connected to the brand, provide feedback and contribute to its growth from the ground level.
Knowing that their success depends on the franchise owner’s success, emerging franchisors listen and are more attuned to the needs of their franchise owners. This means increased communication, personal attention, training, resources and support. Established brands tend to have a set framework and processes, which some franchise owners might find limiting.
Franchisee Satisfaction Survey Says…
Emerging franchises have something else going for them: Franchisee satisfaction. According to a survey conducted by Franchise Business Review, an independent market research firm, franchise owners of emerging brands who have been in business for at least two years have higher positive sentiment across the board vs. all franchise owners.
This includes franchisor and opportunity provided (74% vs. 62%), overall satisfaction (76% vs. 60%) and recommending the franchise (84% vs. 73%). Why is franchisee satisfaction important? It directly impacts profitability and has a ripple effect to other economic benefits including cost reduction, operational efficiencies and attracting other franchisees.
Market Availability and Flexibility
An emerging franchise tends to have more locations or territories available compared to a larger, established brand with limited options. This provides franchise owners with the opportunity to select an optimal location based on market demographics. Multi-unit locations or having the option to expand territory in the future is also more likely with an emerging franchise.
Experience the Rewards of an Emerging Franchise
There’s no doubt about it – an emerging franchise fuels the entrepreneurial spirit, and both the franchisor and franchise owner can be successful when there is a true partnership and collaboration. BirthdayPak is one such emerging franchise with many of the benefits mentioned, including top notch training and support, a Franchise Owner Forum and market availability.
BirthdayPak also has other qualities that make it more established. For example, BirthdayPak has grown to a national brand and has a history of sustainable growth. In addition, BirthdayPak has received recognition from Entrepreneur by ranking in Top New Franchises for the second consecutive year and Franchise Dictionary as a Top 100 Game Changer for 2018.
Are you ready to reap the rewards of an emerging franchise? Take the next step or call 1-888-206-0083.