What Is Franchising?

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What Is Franchising?

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A franchise is a method of distributing products or services involving a franchisor, who has an established brand trademark or trade name, and business systems in place. The franchisee pays a royalty fee, and often an initial fee, for the rights to do business under the franchisor’s name and system. As you further consider investing in a franchise, it’s important to think about the pros and cons of joining a franchise. We’ll walk you through those below.

A franchise is a method of distributing products or services involving a franchisor, who has an established brand trademark or trade name, and business systems in place. The franchisee pays a royalty fee, and often an initial fee, for the rights to do business under the franchisors name and system. As you further consider investing in a franchise, it’s important to think about the pros and cons of joining a franchise. We’ll walk you through those below.

Advantages Of Owning A Franchise

  • Training & 24/7 Support With CMIT Solutions.
    • We provide service delivery, operations, marketing and sales support and training throughout the franchisees lifecycle.
  • Franchisors offer the independence of small business ownership, supported by the benefits of a much larger business network.
  • Franchises have an established reputation and image, proven management work practices, access to national advertising, and ongoing support. Therefore, franchisees have a higher rate of success than a traditional start-up.

With CMIT Solutions 20+ years of franchising experience, our franchisees can leverage our knowledge, experience, and network for better odds of success. Plus you don’t necessarily need experience to run the franchise with CMIT. We don’t even require that you need a technology background. We’ll talk about our business model and revenue streams below.

Potential Trade Offs

  • Often the franchisor is going to have you sign an agreement that will dictate how you run the business, so there could be little room for creativity.
  • When you’re in franchising, you will pay ongoing royalties to the franchisor.
  • There’s usually going to be restrictions on where you operate, and the products or services you supply.
    • With CMIT Solutions we use a territory based model based on business count, and we have a standard process of vetting and selecting the best vendors and partners to provide the best quality solutions for our franchisees.
  • Buying a franchise means entering into a formal agreement with your franchisor.
    • At CMIT Solutions we have a 10 year franchise agreement term renewable upon compliance with the CMIT Solutions franchise model.

Potential Trade Offs

  • Often the franchisor is going to have you sign an agreement that will dictate how you run the business, so there could be little room for creativity.
  • When you’re in franchising, you will pay ongoing royalties to the franchisor.
  • There’s usually going to be restrictions on where you operate, and the products or services you supply.
    • With CMIT Solutions we use a territory based model based on business count, and we have a standard process of vetting and selecting the best vendors and partners to provide the best quality solutions for our franchisees.
  • Buying a franchise means entering into a formal agreement with your franchisor.
    • At CMIT Solutions we have a 10 year franchise agreement term renewable upon compliance with the CMIT Solutions franchise model.

Overall, franchising is seen by many, as a simple way to go into business for the very first time. But with franchising, there is still no guarantee of success, same as with a start-up. The same principles of good management such as hard work, time management, informed decision making, having enough investment capital, and servicing your customers will all still apply. But the good news is, the franchise advantages such as 24/7 support, training, and having an already established reputation will be there from the beginning. Keep all of this in mind as you explore your options.

Learn More About The CMIT Franchise Opportunity

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