Did You Know You Can Afford a Franchise As a Small Business?

Small Business FranchiseSmall Business Franchise

When you think of small business, you’re probably thinking about the local breakfast joint down the street from you or the independent mechanic in your neighborhood, but have you thought of a franchise.

Your Miami Beach bookkeeping company knows that buying a franchise can be a great small business for the entrepreneurial type who rather have their own operation, but can still rely on the franchisor for many of the responsibilities. In other words, owning a franchise allows you to go into business for yourself but not by yourself.

Your Miami Beach Bookkeeping Department Explains the Advantages of Owning a Franchise

As the owner you’ll have a lot of independence. You’ll also have a product or service that’s doing well and brand name recognition thanks to all of the advertising and marketing that’s being done regularly. You don’t have to search for an exclusive product or do any market research. You’ll also enjoy the equity of that brand name recognition, with less effort needed on your part to convince customers of the quality of your products or service.

Small businesses can be hard to set up, from their location to signage, to inventory, machinery and so much more. But when owning a franchise, virtually all of those responsibilities are included in the purchase price of the business. What’s more and crucial to its success, is the franchisor support which includes training, marketing campaigns, operational assistance, increased spending power and even bulk purchases depending on the small business itself.

Buying a Franchise Is a Lot Cheaper Than You Think

Your Miami Beach Bookkeeping company is here to tell you that you can afford top franchises for less than you think. In fact, many successful franchises need less than $10,000 as an initial investment. Super Glass Windshield Repair, founded in 1992, ranks as one of the top 5 affordable franchises. Its headquarters are in Orlando and have a franchise location in Fort Lauderdale, close to Your Miami Beach Bookkeeping Department. Super Glass Windshield Repair provides in-house financing and ongoing support with purchasing co-ops, field operations, newsletters and more.

Small Business FranchiseProforma is another franchise that ranks in the top 5 affordable franchises list, offering medium-sized businesses and larger corporations with business documents, printing and promotional products. Owning this franchise as a small business starts at the small price tag of less than $5,000. Some franchises don’t even need the traditional storefront to operate, so small business owners can work remotely. When it comes to franchising, there’s truly a world of options from food delivery to personalized gifts to garage door installations and so much more. All you need is some good research to see what fits your needs, passion and budget.

Your Miami Beach Bookkeeping Company Explains the Disadvantages of Being a Franchise Owner

So what are the cons of being a franchisee? This Miami Beach bookkeeping company reminds you that you’re never completely independent because you have to respect the franchisors procedures and restrictions. When customers do business with franchises, they expect consistency across all variables from product being the same to customer service to offerings and pricing. So for example, should you want to charge more for a specific product, you can’t. As a franchise owner, you’ll have to abide by the rules that work for the greater collective, meaning all of the other franchisors. This also ensures uniformity and efficient marketing. However this shouldn’t stop you from buying a franchise to operate as your small business, you just have to choose wisely with a franchisor that aligns themselves with your needs.

Why Own a Franchise in Florida?

The Sunshine State always ranks as one of the best places to do business due to its favorable tax policies, flexible enterprise zones, tax credits and more. Florida’s corporate business tax is one of the lowest in the country so it’s much easier to become a small business owner here.

Small Business FranchiseThere are many franchises in Florida that are less than $10,000 to acquire like for example My Business Venture which requires only $4,000. This small business allows you to work from home where you can sell over 15,000 products and markups of over 200%. Slip Doctors only requires $10,000 for their franchise which is in the business of improving traction on tiles, stone, porcelain and concrete. Cruise Planners is a home-based business linked to American Express that only requires $10,500.

Should a franchise be right for you, let the Miami Beach Bookkeeping Department help with setting up some of your small business paperwork and let us handle all of your ongoing bookkeeping needs. Manal Oliver is a certified accountant with over 30 years of experience and is a member of the American institute of Professional Bookkeepers.

 

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