Are you an entrepreneur looking for a new opportunity to open a business that you can own and operate entirely on your own? Rather than starting from scratch with a brand new idea and grinding through years of early-stage development, you may want to consider franchising.
Franchising allows entrepreneurs like yourself to open and operate their own businesses by following a proven business model and using an existing company’s trademarked name and branding. If you’re considering starting a franchise business, you should know a few things before getting started. This post will review franchising, why it works, and how to create your own successful franchise business. Let’s get to it!
What Is Franchising?
Franchising is a bit like a dating app for businesses. Sure, you could go out there and try to start a business on your own, but why bother when there are already so many successful businesses out there looking for someone to replicate their success? When you franchise, you essentially become a part of an existing business, which provides you with an established brand, product, and system. In exchange for this, you agree to operate under the same name and to follow the same procedures that have made the original business successful.
Of course, just like starting any business, this isn’t to say that franchising is without risk. After all, you are investing in a new business, and there’s always the possibility that it won’t take off without dedication, commitment, and hustle. But if you do your homework and choose a good franchise opportunity like the one we offer here at Ferguson Moving & Storage, the chances of success are much higher than if you went for it alone.
Why Should You Start a Franchise Business?
There are several reasons why people choose to become franchisees. First, compared to starting your own company, building a brand, marketing your products and services, and scaling your business, there are typically far lower startup costs associated with becoming a franchisee. Instead, you may pay an initial startup fee and then pay a monthly fee to the franchisor, who provides everything else needed to run the business. Second, you can use the same brand name as the company that owns the trademark, giving you instant credibility and trust with your customer base. In our case, we’ve been in business since 1916 – over 100 years – so we’re one of the industry’s most recognized and well-reviewed names. By becoming a Ferguson franchisee, you can feel confident that you’d be representing a rock-solid brand with proven success and a loyal following. Third, you can build a network of other franchise owners and lean on one another’s experience to avoid making mistakes as you grow your franchise’s footprint. Finally, you can earn income without spending much time managing the business’s day-to-day operations.
How Do I Start My Own Moving Franchise Business?
Now that we’ve answered the question, “What is franchising?” and reviewed some of the key reasons why you might want to become a franchisee, let’s look at how you can get started and open up your own Ferguson Moving and Storage franchise.
Phase 1 – Information & Application Phase
In phase one, we get to know you, and you get to know us. This is critical in determining whether or not we’re a good fit for one another. Our team looks for franchise candidates who demonstrate a high level of dedication, commitment, and positive attitudes about running their own business. Of course we want to make sure you have the financial resources, business acumen, and dedication needed to succeed as a franchisee, but it’s most important to us that the fit feels right between both sides. Since the information and application phase can sometimes take a few weeks (or sometimes even a few months), we’re going to spend lots of time working to understand your goals, interests, and skill sets to make sure that a Ferguson franchise is the right option for all parties involved.
Phase 2 – Site Selection (Protected Territory)
Assuming everything checks out in phase one, it’s time to have a more detailed discussion about where you want to operate a Ferguson franchise. Depending on territory availability, you may have some flexibility in choosing the geographic area you’d like to serve. Once we identify a territory that works for both of us, we’ll draw up an official Franchise Agreement that will protect your territory and give you the exclusive right to operate a Ferguson franchise within it.
Phase 3 – Disclosure & Due Diligence
In this phase, we’ll provide you with a Franchise Disclosure Document (FDD) that contains information about our company, our franchise opportunity, and our relationships with current and former franchisees. We encourage you to take your time reviewing the FDD and ask us any questions. Once you’re ready, we’ll move on to due diligence, which is essentially a fact-finding mission to make sure a Ferguson franchise is the right fit for you. We’ll invite you to our Ferguson headquarters office to go through what we call a “discovery day”. This is a great opportunity for us to address any additional questions or concerns either side may have and work through those together as a team.
Phase 4 – Confirmation Day
If we both feel good about proceeding after phases one through three, it’s time to sign the Franchise Agreement and make things official! We’ll celebrate your decision to join the Ferguson family and get you started on the path to opening your franchise.
What Other Benefits Are There to Owning a Franchise Business?
Here at Ferguson, we pride ourselves on having one of the industry’s most comprehensive and supportive franchise systems. Unlike many parent companies, which get you ramped up at the beginning but ultimately leave you to run the day-to-day of your franchise, we provide ongoing support in all aspects of business, from marketing and advertising to financial planning and human resources.
As a Ferguson franchisee, you’ll have the following benefits:
- The support of a team of industry experts. We’ve been doing this for a long time and have franchisees succeeding across Canada.
- A comprehensive ongoing training program. You won’t be left to your own devices when you become a moving franchise owner with us. We provide intensive, hands-on training programs to get you up to speed on everything from moving techniques to sales and marketing strategies and continue to provide training as your business grows.
- Ongoing support. Once you’re up and running, we’ll still be there for you whenever you need us. We have a dedicated franchise support team available to help you with whatever you need, whether it’s advice on running your business or help with a specific problem you’re facing.
Now that you know a little more about what it takes to become a Ferguson franchisee, we encourage you to continue exploring our website and learning more about our company and franchise opportunities. If you have any questions along the way, don’t hesitate to reach out to us – we’re here to help!