Business ownership—it’s the goal of many entrepreneurs for a multitude of reasons. You can be your own boss, set your own hours, be financially independent and therefore take charge of your future.
There are, however, drawbacks to owning a business completely solo. You take on the entire risk, which can jeopardize that financial independence. You’re responsible for the business’s entire liability. These are big considerations.
This is where the advantages of franchise ownership come into play. Becoming a franchise owner is a great way for entrepreneurs to fulfill their business ownership goals without exposing themselves to quite as much risk. Let’s look at the benefits of a franchise.
FIRST ADVANTAGE OF FRANCHISE OWNERSHIP – FRANCHISE DEVELOPMENT TEAM
Many first time business owners go the franchise ownership route because one of the biggest benefits of owning a franchise is working with an established franchise development team.
When signing up with a franchise brand that’s been in business for over 50 years or more, franchise owners understand that a knowledge base is already present. First-time franchise owners (and even those who’ve been owners for years, but perhaps not in the same industry) have the benefit of a very experienced team guiding them into the business.
It’s a great opportunity to ask questions of a knowledgeable mentor and gain valuable experience with people who’ve done the hard work of learning the ropes.
One of the greatest advantages of owning a franchise is shortening the learning curve of business ownership. It’s not necessarily a shortcut to profits, because there’s still work to put in, and there are still some risks involved that don’t guarantee success.
Being Part of a Proven Franchise Model
However, the steps put in place by the experienced franchise development team are designed to streamline the business operations from the moment a new franchise owner signs the franchising agreement.
That’s an advantage of being a franchisee that going into business alone simply doesn’t have.
SECOND ADVANTAGE OF FRANCHISE OWNERSHIP – BRAND RECOGNITION
When owning a business that’s not backed by a franchise brand, the owner has to get the word out about their goods and services on their own. In the age of the internet, this is both easier and more difficult.
Social media and websites make it simple to get a brand’s voice in front of more people, but it’s the same for everyone else, too. Elevating that brand voice above the cacophony of other brand voices is both an art and a science, one that not every business owner knows how to do.
A huge franchise ownership perk with an established franchise brand, is gaining access to an existing reputation and possibly years of legacy. An example of this is Plaza Pizza, which since 1971 has been an Ohio pizza destination, and that’s saying something.
As the only state with 3 major cities ranked in the top 20 of the Best Pizza Cities of 2022 list, Ohio can take the crown as the state with the tastiest pizza based on the survey’s criteria—pizza variety, pizza restaurant density by population and by square mileage, pizza restaurants ownership (independent versus big chains), and affordability of the pizza.
Customers who love pizza franchises are a testament to proprietary recipes, signature perks such as a thin crust with a satisfying cracker crunch, and a franchise restaurant whose commitment to quality ingredients is a top priority. All this establishes brand recognition, which is ultimately your goal when acquiring a franchise business.
Customers can tell that they have relatives from out of town who insist on eating at that particular franchise when they visit. Those who’ve moved away and returned are glad to come back into the Plaza Pizza® ordering radius. Those who’ve never left profess their loyalty to our pizza, and that is brand recognition.
That is the kind of priceless franchise brand recognition and organic positive customer interaction that cannot be purchased and is a distinct franchise ownership advantage for entrepreneurs over building a fresh brand from scratch.
THIRD ADVANTAGE OF FRANCHISE OWNERSHIP – NOT STARTING FROM SCRATCH
Some franchise brands have more than 50 years as successful businesses. In an industry as competitive a pizza franchises, the concern is in an incredibly competitive Ohio market, where pizza connoisseurs abound.
A clear advantage of franchising as a business model with an established pizza franchise is access to a know-how business plan that works.
Investors can rest assured on businesses that year-over-year have had profitability for decades, and even in tough economic times when the future of many restaurant chains was uncertain, a strong legacy can be a pillar of comfort when working with an established brand that has made it clear we’re here to stay, how to act and where to work on.
At Plaza Pizza, the pizza restaurant model is well-established, and we’ve integrated technological advancements to ensure we’re running as smoothly as a modern-day business can, as well as offering our customers the conveniences they demand through contactless ordering, payment, and delivery.
A new Plaza Pizza® franchisee can reap the benefits of a franchise and avoid the typical pain points of opening a new restaurant by running a business that already operates as smoothly as possible.
FOURTH ADVANTAGE OF FRANCHISE OWNERSHIP – TEAMWORK MAKES THE DREAM WORK
By becoming a part of a franchise team, franchisees join an established group of like-minded entrepreneurs who encourage and energize one another rather than focus on competition.
There are multiple advantages of franchise ownership involved with this type of teamwork. They include:
- Marketing collateral that allows each franchise location to keep its messaging consistent with the overall brand guidelines. This maintains brand standards as well as allows the franchise owner to focus more on daily operations rather than administration.
- Sharing of suppliers to maintain the standard of product and branding. Not only will this help keep the business ticking along without scheduling hiccups or supply issues, but it also keeps staff members in uniforms, and branded materials such as paper goods in good order. Most importantly, it keeps the ingredients flavorful, and fresh, meeting the branding standards set by the franchise. This meets customer expectations so they’re happy with each and every visit.
- Policies are also shared, which helps uphold a legacy of tradition for brands like Plaza Pizza®, which hold such a rich history, while simultaneously embracing innovation to stay in the modern-day pizza lover’s relevant choices.
When weighing the benefits of a franchise versus going into business for oneself, there’s a distinct advantage to becoming part of a franchise team.
It’s especially rewarding to become a franchise owner with a brand such as Plaza Pizza®, which has a legacy of customer loyalty and a rich history of tradition and authenticity.
