For aspiring business owners, the franchising model provides a number of benefits that independent ownership just can’t compete with, including a proven business model and established brand recognition.
Franchising platforms take those benefits even further. By buying into a platform, owners become part of a broader family of brands, usually focused on a similar vertical—in the case of Five Star Franchising, it’s home services. Working alongside like-minded brands that share a similar vision—along with sharing resources and centralized support structures—can open the doors to incredible opportunities.
The benefits of joining a home service franchising platform
Franchising platforms provide local owners with many key benefits, among them:
- A cohesive culture and common values. Sharing a resilient company culture across many brands can provide local owners with discipline, energy and inspiration. And, it ensures a sense of collective purpose, which may offer some guidance and direction both during seasons of hardship and seasons of opportunity.
- Greater buying power. Franchise platforms may bring together hundreds of franchise owners, representing different brands across diverse marketplaces—and when they come together, they can enjoy buying power that enables them to negotiate the best prices from vendors. While all franchises offer some degree of buying power, platforms can really multiply and compound that power.
- Shared data. When different brands working in the same vertical pool their data and analytics, it provides meaningful insight into consumer trends across the country. That data can provide local owners with greater acuity as they make financial forecasts or seek to distinguish themselves from the competition.
- Combined services. One of the hallmarks of franchising is centralized services, such as marketing, HR and accounting, which support local owners in their growth. Franchise platforms tend to have far more robust and comprehensive shared services, leveraging the resources of a much larger family of brands.
The bottom line: franchising has a number of innate benefits, and the platform model turbocharges them. To learn more about joining the Five Star Franchising platform, contact us directly or take our quiz today.