Who Is Our Competition?
Know Your Business’s Competition Before You Invest
A key part of the research that you put into your franchise opportunity should include researching your business’s competition. There are several advantages to knowing about the businesses that will be competing against your Transworld franchise.
For one thing, knowing which companies in your area provide the same services that you do will help you develop a successful marketing and advertising strategy. Perhaps you can boast lower fees, more experience, better technology, a wider client base, and so on.
Second, knowing about Transworld’s competition will help you decide if there is room in the market for your business. An area that is saturated with business brokers may not be a good fit for a Transworld franchise, so you may need to consider opening your business in a different area.
Below are two major business broker franchises that you may be competing against as a Transworld Business Advisors franchisee. This is certainly not a comprehensive list of all business brokers that Transworld competes against. It is integral to your research that you find out what business broker franchises and companies are competing in your area. Being prepared and having a full understanding of what your Transworld franchise will be up against is the best way to know how to move forward.
Sunbelt Business Brokers
Founded in 1979, Sunbelt Business Brokers expanded to multiple locations starting in the 1990s. Since then, many locations have opened across the United States and even internationally. Sunbelt Business Brokers franchise owners have an initial investment of as much as $110,000, compared to Transworld’s maximum initial investment of $81,000
Murphy Business and Financial Corp.
Since 1994, Florida-based Murphy Business and Financial Corp. has been helping business buy and sell. They have less than 200 locations across the nation and are currently assisting in business brokerage as well as advising, valuing, and assessing businesses. Murphy Business and Financial Corp. is not currently ranked by Entrepreneur.
There are myriad individuals and local business broker firms that your Transworld franchise may be competing against. Knowing the competition is key to ensuring that you market your business effectively.