Franchise v. Small Business: Which is Better?
There are many great opportunities for those who love the thought of being their own entrepreneur — from franchising to opening a small business. And for those with an entrepreneurial spirit and a love for animals, those business choices are even more exclusive. While a start-up or private company can seem like a great way to break into the pet care industry, we suggest going with an established franchise player in the game, instead. Here’s why:
The marketing overhead is higher on your own.
A start-up company usually has a great deal of overhead from the get-go. On top of creating or acquiring products, finding and renting a space, and hiring employees, it can also be difficult to establish yourself as a reputable player in the industry. In fact, marketing and advertising can be one of the largest ongoing expenses for a new business. With a franchise, you’re not only associating your financial success with an esteemed and recognizable brand, but you’ll also receive assistance with advertising as well — both on a national and local scale.
Name recognition can make or break your bottom line.
Consider the purchases you make and the services you use every day. How likely are you to grab the recognizable brand off the shelf, as opposed to the new and unfamiliar one? Well, the same principle can be applied to pet parents choosing a doggy day care for their pup. Franchising offers a business owner an immediate boost from name recognition, which can put them a step above the competition in terms of customer reach.
A good support system is the key to success.
We don’t doubt that your friends and family will be supportive, no matter the business endeavor you choose. However, it’s important to consider whether they will be able to help you make difficult business decisions while navigating the new world of business ownership. Running a business is hard — there’s no way around it. Fortunately though, as a franchisee, your new business comes equipped with a long list of trusted advisors who know the brand and business model inside and out.
Pet parents spend billions of dollars on products and services offered by the pet care industry each year, so there’s no question whether or not Americans love their pets! This is great news for the business savvy dog-lovers of the world, who are looking to capitalize on pet parent passion with their own.