7 Objections about Franchising & How to Overcome it

It is a known fact that franchising is a relatively low-risk business opportunity. Yet, starting out on your own is a big decision, and excuses are aplenty to avoid it.

Here are some of the common Objections to franchising and the tips to overcome it. 

Franchising Objection 1: Losing Money 

This is the most common entry barrier to franchising, with worst-case scenarios ranging from losing the up-front investment to losing everything. On the other hand, no franchisor can assure you the exact profit that can be expected in the franchise business. 

To overcome this fear, you need to carefully research a suitable franchise opportunity and plan your marketing strategies.

Franchising Objection 2: No Sufficient Funds

You need ample funds at every stage to buy, start, and operate the franchise business. However, funding a franchise is not that difficult if your franchisor brand has a good reputation. 

Remember, many franchisors offer help with finding the necessary financing at favorable terms. 

Franchising Objection 3: Personal Failure

When you plan to purchase a franchise outlet, you’ll be the owner of it and will have to lead your business to success. Many first time entrepreneurs may find this a little bit challenging.

To overcome this objection, you only need to understand the constant training, support, and mentoring provided by the franchisor. If you are willing to work hard, your chances of succeeding is quite high, compared with starting a business on your own.

Franchising Objection 4: Lack of Experience

It is true that prior experience is helpful when you start out on your own. However, you need not worry too much about lack of experience when looking for a franchise, since you will be guided all the way by the franchisor.

Franchising Objection 5: Being Overwhelmed

It is true that franchising can be overwhelming at times and every work cannot be handled by you alone. 

You just need to hire trusted hands to deliver. For instance, if you are finding the accounts part overwhelming, then plan to hire expert help. 

Franchising Objection 6: Losing Independence

One of the biggest barriers in franchising is the fear that the franchisor will largely control your operations. 

Even if you are expected to work within the established franchise framework, there is still a lot of room for you to operate the franchise business. 

Franchising Objection 7: Uncertainty

Facing unknown challenges is a real psychological block for many prospective franchise owners. You never know what financial or operational crisis is in store.

Remember, when you have chosen to become a franchise owner, it is a given that you are a risk-taker and ready for challenges.

For more information on Objections about Franchising and How to Overcome it, Contact Us.