It’s that time of year again. At home, at the office and among friends, everyone’s trying to answer the same question: what’s my New Year’s resolution? And if you’ve been thinking about making a big change – finally taking the plunge into business ownership – there’s no time like the present.
But if you’ve been hesitating because you’re on the fence about whether to launch your own startup or invest in a franchise, let us give you four good reasons why a franchise might be the better route for you:
1. You Want a Proven Business Model
A franchise provides business owners with a set plan and proven model for business and operations, making the transition to entrepreneurship less risky than with a startup. Honey Baked Ham Co.® franchisees can count on four year-round streams of revenue to drive business – our signature, specialty retail proteins, individual and corporate gifting, local catering services, and our mouthwatering, dine-in lunches including fresh sandwiches, soups, salads and delicious sides help alleviate some of the uncertainty about whether running a successful business is possible for you.
2. You Want Lower Operating Costs
Another top reason to choose a franchise is the economics of scale. Typically, because larger, established franchises have such a wide reach, they can optimize systems, sourcing and supply chain to keep your purchasing costs lower than you could on your own. And at HoneyBaked, our concept doesn’t require any cooking – all our products are delivered to your store fully cooked. That, plus our reasonable store hours, help our franchisees keep labor and operating costs to a minimum.
3. You Want Access to Capital
Investing in a business – whether it’s a franchise or a startup – is expensive and, often, hopeful entrepreneurs need loans or retirement rollover plans to fund their dream business. But, because of the proven concepts and comprehensive training and support systems that come with a franchise opportunity, banks and other lenders are far more likely to approve loans or lending programs to people purchasing a franchise. At HoneyBaked, we actually work with a particular group of trusted funding partners to help our franchisees get the capital they need to start their journey to ownership.
4. You Want Work/Life Balance
This is the big one. Those looking to own their own business want to do so because they’re tired of long corporate hours keeping them from their family and the life they want to live. A startup can be a huge undertaking and, especially in the beginning, absorb even more of your time than your current career does. Franchising, on the other hand, requires hard work but gives you access to an established team of professionals supporting you every step of the way, so you can spend more time doing what you really love.
And because of our relatively short daily operating hours outside the holiday seasons, The Honey Baked Ham Co.® offers franchisees even more time with their families, friends, communities – more time for the people and hobbies that make them truly happy.
Are you considering business ownership? Give us a call and let us tell you why a franchise might be the best choice for your future.
