Common Franchise Ownership Myths: Finding the Truth
February 26, 2020
Purchasing a franchise is an exciting opportunity to be your own boss while having a good foundation set before you. There are a lot of myths circulating about what it means to own your own franchise, so we want to break down the most common misconceptions. If you are looking at purchasing a franchise from Rosati’s, don’t let these common misconceptions keep you from creating the life you want.
1. You can’t succeed in a business that you don’t know anything about.
It is often assumed that the only way to be successful in starting a business is to do so in a familiar industry. Businesses where the owner has a background in the industry actually have the highest rate of failure. It is far better to have a skillset that is adaptable from another industry. Universal skills such as customer service and management experience, are far more valuable in starting any business. No matter what franchise you end up purchasing, your top priority is to grow your business to make it successful, and that is something that can be done no matter the industry.
2. Buying a franchise is too expensive.
Like starting any business there will be costs. A franchise is no exception, but the costs are not as high as you might think. The one-time franchise fee and reoccurring royalties are more than made up for by having an established backing with a proven track record for success. The training alone is a valuable asset, but when you add in the security that comes from the parent company, you will see that the rewards outweigh the cost.
3. Purchasing a franchise forfeits creative freedom.
In most cases, the only thing that the franchisor controls is the structure of the business. You still maintain all the decision-making for your particular franchise. The only thing that is set in stone is what the franchisor has proven to generate profit. Most companies welcome feedback and suggestions on things that improve the business model, so don’t believe that you won’t get to have a say.
At Rosati’s Pizza, we want to make your franchise buying dreams a reality. Contact us today to learn more about our pizza restaurant franchise opportunities in your area.