Within the past year, mobile franchising has grown in popularity exponentially. For one thing, new investors realize that it’s much easier to succeed with a franchise than to start their own business from scratch. Add in the low start-up costs and flexibility of self-employment, and it’s easy to see why people are interested in this type of investment opportunity.
However, there are two sides to every coin, and running a mobile franchise has a few pitfalls. It’s draining to be the only one in charge of your business, large or small. So, is running a mobile franchise right for you?
Benefits of Running a Mobile Franchise
If you’re hoping to become your own boss, there are opportunities in the mobile franchise market covering a variety of different industries. Plus, there are some benefits to running a mobile franchise that you simply can’t get with a traditional brick-and-mortar franchise.
Low Start-Up Costs
Mobile franchises are the prime choice for an investor that wants lower expenses at the beginning of their franchising journey. Once your franchise application is approved, your business vehicle will need to be wrapped with all the appropriate branding, but after that, you’re off to the races. There’s no need for office space, furnishing, or extensive setup — since you’ll be traveling straight to your customers, you can handle behind-the-scenes business tasks, like scheduling appointments and phone calls, from the comfort of your own home.
A vehicle that stands out from a sea of plainly colored Hondas and Nissans is sure to get people talking about your business. Once you’ve garnered the town’s attention, you’ll naturally gain more local customers.
Lower Operating Costs
Since you’re not spending money on rent, utilities, and a large staff of employees, the cost of running a mobile franchise can be much lower than that of a brick-and-mortar business. And this lower cost of operating a mobile franchise means that you reap a higher return on your investment.
The Downside of Running a Mobile Franchise
While low costs and easy advertising sound incredible, there are a few downsides to consider when running a mobile franchise. Conducting business from home sounds great until your house or apartment is bursting with stock and paperwork. You may need to take extra steps to keep your personal space personal and maintain that precious work/life balance.
If you’re running a mobile franchise all on your own, you also face many of the same issues that plague any single business owner. There may be much more administrative work than you expected, and it can be a lot of pressure to do everything yourself. Plus, if you don’t meet your sales goals, your livelihood is on the line. And if you have a family emergency or fall ill, it could be detrimental to your entire business.
Hundred Acre Consulting
Starting a mobile franchise has many excellent benefits, but it’s important for potential investors to weigh the pros and cons. So if you’re interested in mobile franchising, why not seek out a professional opinion?
Hundred Acre Consulting can help you make the best franchise investment based on your professional goals, needs, and lifestyle. With our years of experience, we can provide the insight you need to select a franchise that’s your perfect match — whether that’s a mobile franchise, or a more traditional brick-and-mortar option.
It’s easy to get started. To learn more about our services, just contact our team today!
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