General Questions
1. Why Franchise?
Franchising offers a unique opportunity to own a business while benefiting from the support and established systems of an established brand. Instead of building everything from scratch, you start with a solid foundation that includes brand recognition, training, marketing assistance, and ongoing operational support. It’s a great way to mitigate risks while maximizing your chances of success.
2. Are Franchises Successful?
Franchises often have higher success rates compared to independent businesses. This is because franchise owners benefit from established systems, tested processes, and ongoing support. At Authority Brands, we provide our franchisees with everything they need to succeed, from comprehensive training to operational tools. Success ultimately depends on the owner’s dedication and execution, but our systems are designed to set you up for growth.
3. Why Buy a Franchise Business?
Buying a franchise offers many advantages over starting a business on your own:
Brand Recognition: Customers already know and trust the brand, giving you an edge in attracting business.
Systems: You follow a business model that has already been refined for success.
Support and Training: Franchisors like Authority Brands offer extensive training and ongoing support to help you succeed.
Marketing Assistance: Get access to localized and national marketing campaigns without the need to hire a marketing team.
Community: Join a network of like-minded business owners who can provide guidance and insights.
Investment Questions
1. What is the total investment required to open a franchise?
The cost of a franchise varies depending on the brand, industry, and specific franchise model. Initial costs typically include franchise fees, equipment, inventory, and marketing. Authority Brands provides transparent investment details for each of our home service franchises. We also work with franchisees to ensure they fully understand the financial commitments involved.
2. Is There Financial Help to Owning a Franchise?
Yes, there are several financing options available to prospective franchise owners. Authority Brands offers guidance on financing solutions, including:
SBA loans
401(k)/IRA rollovers
Equipment financing
Discounts
We can connect you with trusted financial partners who specialize in helping franchisees secure the funds they need to get started.
3. What are the recurring costs associated with running the franchise?
Besides royalties and advertising fees, are there other ongoing expenses like software subscriptions, maintenance costs, or required reinvestments and more provided in the FDD.