Independent business or franchise?
Here at Turtle Tots, we believe we offer a proven way of setting up your own business through a licence, whilst you still maintain an important measure of individuality and independence to your business.
Many potential business owners will initially be thinking about the pros and cons of franchising/licenseeing and whether to go it on their own.
So what are the benefits of taking out a licence/franchise as opposed to setting up your own business?
Vastly reduced risk due to a proven business model
A licence/franchise provides the business owner with a proven and tested business model, thereby helping to avoid common mistakes, that can hinder a business start-up. This reduces any wasted expenditure, and an enormous amount of time and effort.
Think for a moment of one of those big franchises such as MacDonalds or Subway. Their brand is immediately recognised and the business owner will have little problem with customers not knowing the brand and what it provides. Customers already have a set level of brand loyalty and brand expectations.
However, a sole trader will need to communicate his own new brand and promote through extensive, costly marketing campaigns, which will take some time to establish brand awareness.
And the benefits continue for the digital world too. A franchise such as Turtle Tots will appear on the first page of a google search for significant keywords, which is difficult for a Sole Trader to achieve.
Here at Turtle Tots, we support our brand throughout our territories in the UK, Ireland and Australia, with worldwide marketing campaigns aimed at building brand awareness and attracting customers. We have a collective “brand reach” that a sole trader would take many years to establish.
We are more powerful when we are greater in number!
A licence or franchise can benefit from increased buying power. At Turtle Tots, we are purchasing at a quantity at around 50 times larger than if one of our licensees were purchasing alone. Of course this brings significant cost savings – we have already established and agreed pricing structures for merchandise, insurance, training etc – thereby saving our licensees significant cost.
A franchise/licence typically has more value than an independent business and will have a greater value should the business need to be sold in the future and most franchises will assist in the reselling of an established franchise or licence.
Help with Finance
A bank or lending institution will immediately recognise that a franchise/licence is a reduced risk. Typically a franchise will provide a business plan template. with known expense figures etc supplied. This saves a franchisee vast amounts of time and money obtaining this information.
Turtle Tots are able to put potential licensees in touch with a lender who has had previous knowledge of working with Turtle Tots licensees, and has knowledge of the business plan and risk involved. To date no potential Turtle Tots licensee has been turned down for funding.
A franchise has vast knowledge of the training needed to run a successful business and will provide bespoke training, that will enable the franchisee to run their business efficiently.
At Turtle Tots, we provide six days of specialist baby swimming training, and two days of initial business, marketing and sales training. All this training is specifically designed for a Turtle Tots licensee, calling upon 7 years of experience in training and delivering our product.
This enables the licensee to hit the road running and licensees can have a business up and running with weeks of initially enquiring.
And of course, you have access to over 50 business owners who know exactly what it is like to run your business – the licensees themselves. We make sure that we have in place a quick and easy way for our licensees to communicate with each other, sharing valuable business knowledge.
To find out more about becoming a licensee with Turtle Tots, contact us on firstname.lastname@example.org or on 01275 462022. To find out more about opportunities visit https://www.turtletots.com/opportunities or read our exhibitor listing here http://mumsenterprise.events/exhibitor/turtle-tots-2.
Caroline Sparks & Gaby Lixton, co owners of Turtle Tots
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