When your sign business has reached a crossroads in its growth, converting it to a franchise could be just what it needs to move up to the next level. Joining a large, established brand not only ushers in opportunities for expansion, but also provides access to resources and support that can take you exactly where you want to go.
At my company, for instance, we see our franchisees gross higher sales, gain more brand recognition and enjoy higher resale values on average. Updated technology and consistent processes make operations of the franchise shop more streamlined and efficient. It’s an ideal option for independent owners who struggle with processes, want national clients but can’t attract them and could use help with marketing and technology.
But how do you know you’re ready to franchise? Your customers may have the answers you need. Have they been asking for projects you can’t provide because you lack the materials, equipment or specific sign expertise? That could tell you it’s time to start doing business under a recognized franchise brand that offers the resources you need to start saying yes.
Benefits of the Brand
Franchises offer many benefits to those who join them. They offer an established business model, brand recognition that can draw a larger customer base and the resources and support of a nationwide or global network. Ultimately, those factors can add up to higher profits.
Franchises have worked out the procedures and processes needed for efficient, profitable operation. They’ve tested and tweaked things like workflow systems, creative services and customer communication to set you up for success. The corporate leadership team knows what works in your market, having researched considerations like your potential competition and customers in the area.
Being part of a franchise also raises your profile in the market. As a solo operator, you have local customers who know and trust you and offer word-of-mouth endorsements to bring you more business. As a franchise owner, you’re immediately familiar to potential customers who might not have heard of you when you were independent. I’m confident that when Joe’s Sign Shop becomes a Signarama location, potential customer confidence levels rise automatically.
For many new franchisees, the most valuable benefits of joining a brand are the resources and support they get from the corporate team and other franchisees. From up-to-date software for improved digital production to the latest large-format printers, being part of an established brand has clear advantages. They’ll have teams to help you learn their systems and will be with you every step of the way.
Besides the resources and expertise that franchisees share, they also enjoy tremendous buying power for their members. With economies of scale and resources that attract more lucrative projects, franchise brands can earn more revenue and higher profits.
Choosing the Right Franchise
Now that you’ve decided to make the leap, here’s what to look for in the franchise you join:
- A clearly explained process, from the financial requirements to the commitments you and the brand will make to each other. Don’t let the brand just dump paperwork on you and expect you to read and understand it on your own; it should guide you throughout the process, making sure you understand each step.
- A comprehensive training program to launch your business, as well as ongoing training. The brand should make it a priority to support its franchisees, realizing that their success is the brand’s success. For instance, Signarama is an affiliate brand under United Franchise Group, and our franchisees get valuable networking and educational opportunities by attending both of our annual conferences.
- A strong network of franchisees who can share resources and expertise.
Ready to Leap?
Franchising isn’t for everyone. It can take a sizeable financial investment, and you must be comfortable following the same guidelines everyone else within the brand follows. And success is not guaranteed but hard work is – maybe even harder than you’re already working.
A franchise brand can help you “jump the line” to success faster and build a business for yourself but not by yourself. It’s a huge step for your business, and it could be your best step yet.
A.J. Titus is president of Signarama, a sign and graphics franchise that’s also the largest brand at United Franchise Group.
