The brokerage business is a good industry to get into for the simple reason that there will always be business owners looking to sell their companies and entrepreneurs looking to invest. However, if you’re thinking about getting into the brokerage business, then you should consider purchasing an already established franchise instead of trying to build your own brokerage business from the ground up. Following are five reasons why you should invest in an established franchise:
1. It’s Easier to Obtain Financing
Lenders are typically very hesitant about approving loans to small business owners because they are well aware of the failure rate of new businesses. However, they understand that franchises carry a much smaller risk because of the fact that they are supported by an already established brand. Not only is it easier to get approved for financing, but you’ll often get better terms. All of this is dependent on your credit history and current financial situation, of course.
2. It’s Easier to Market Your Brokerage Business
It’s difficult to get any new business off the ground because of the fact that nobody knows that it exists. This means that an enormous part of your budget has to go to marketing—and there’s no guarantee that your marketing efforts will be effective.
However, with an established franchise, you’ll already have a customer base that knows who you are. You’ll also be able to take advantage of any national advertising your franchisor does, since it directly benefits your franchise. Last but not least, you’ll be given advice and guidance as well as marketing materials by your franchisor, which means there’s less of a chance that the marketing efforts you make will fail.
3. You’ll Be Given Full Training
You had better know a whole lot about the business brokerage business in addition to running your own business if you plan on starting your own company. Not to mention that most states will require you to have a real estate license, as well. With a franchise like our Transworld Business Advisors, though, you’ll be given full training so that you will be prepared to earn your real estate license, run your business, and run it effectively.
4. You’ll Be Provided Full Support
Franchisors do not want you to fail, which is why they will provide a support system to help you as much as possible. Business owners don’t have this privilege—they end up having to run their brokerage business through trial and error, which can be very risky since a big enough error can tank your business.
Here at Transworld Business Advisors, we provide support as you start your business as well as ongoing support throughout your lifetime as an owner. This means that we will send one of our representatives to your location to mentor you for the first few days. This kind of hands-on assistance can be invaluable. We will also provide continuous training and support even after you get your franchise off the ground.
5. You’ll Have Access to Existing Business Relationships
Because Transworld Business Advisors is part of the United Franchise Group, you’ll be able to take advantage of the relationships amongst the franchises under the United Franchise Group umbrella, which includes dozens of highly regarded franchises that regularly earn high rankings on the Entrepreneur yearly Franchise 500 list.
These are five of the main reasons why you should choose to invest in an already existing franchise instead of starting your own brokerage business. To request more detailed information about our franchising opportunities, be sure to contact us at Transworld Business Advisors today.