With a private medical practice, the patients come to you. With a weight-loss clinic, you have to get our name out there and market the brand. When it comes to the medical franchise industry, some beliefs are touted so often that they have become widely accepted as facts. In reality, however, they’re common misconceptions about the industry and can be dangerously misleading!
- “Most Franchises Fail Within the First Year of Operation.” This one isn’t true. The first year of operating any business is difficult, and franchises are no exception. However, the fact is that most businesses do, in fact, survive their first year of operation, and less than 40% of businesses fail within the first two years of existence. You just need a solid plan, capital, and strong financing.
- “You Don’t Get Any Real Freedom In Franchising.” The truth is that you are the real boss in your franchise, regardless of the corporation you’ve partnered with. You are responsible for advertising, marketing, hiring and managing.
- “You Don’t Get Any Creativity In Franchising.” hankfully, this one is also untrue! Certainly, the corporation will limit certain aspects of your business, but those limitations only exist because they have been proven to boost income, whether they pertain to uniforms, signs or other facets of the business.
- “Franchise Opportunities Are Too Expensive.” It takes money to buy into a franchise, but it takes an investment of some kind to get into any kind of business, regardless of your level of involvement. Before you go on dismissing franchising because you’ve heard some figures related to popular mega brands, investigate some of the lesser known industries and you’ll find that some franchises are much more affordable to start than others.