If you want to start a business that comes with an established brand and business model, a franchise might be a perfect fit.
There’s a saying that goes, “buying a franchise lets you work for yourself, but not by yourself,” and it’s true!
You’re the boss in a franchise, but the franchisor provides you with a ready-made template for your new business to follow. Using that template simplifies the process of starting and growing your business.
So, if you’re looking to go into business for yourself, but you’d rather not build it from scratch, franchising might be for you.
Advantages of franchising
- Independence with guidance - Owning a franchise gives you the flexibility to operate your business, while having access to ongoing support provided by the franchisor.
- No need to have business experience - Most franchise companies offer a training program to ensure that you’ll run your business efficiently.
- Funding can be easier to secure - Lenders are more comfortable financing the purchase of a franchise because franchises already have a proven track record.
- Strong brand awareness - The brand of the franchise already has regional or national recognition. This adds value and provides a distinct level of buyer confidence.
- High rate of success - Buying a franchise is very different from starting a mom-and-pop business. Since there’s already an established system in place, there’s a higher likelihood of success.
Why you need to incorporate your franchise
Starting a franchise is an exciting and lucrative venture, but if you want to keep more of your hard-earned money, operate under the most protection, and have the most credibility, you need to incorporate.
That’s because, as a properly formed corporation or limited liability company (LLC), you receive legal, tax and business advantages:
- Incorporating your business creates a legal barrier between your business liabilities and your personal assets.
- Corporations and LLCs can qualify for tax breaks that are unavailable to sole proprietors.
- Your customers, business partners, and prospective investors will consider your business more credible if it’s incorporated.
- Franchisors prefer to work with a corporation or LLC.
Why incorporate your franchise with NCH?
With 30+ years of experience, hundreds of thousands of businesses formed, a 5-star Trustpilot rating and a comprehensive list of business services, there’s a reason NCH is considered the #1 business formation company for franchise start-ups.
There’s no one else out there more capable, dedicated and passionate about helping you succeed as a business owner than NCH.
When you incorporate with us, you’ll not only have access to a dedicated team of professionals who will listen and give expert advice, you’ll get advanced asset protection and tax minimization strategies tailored to help you meet your specific business goals.
Is an LLC the right structure for your new business?
Our Business Start-up Specialists are eager to learn more about your franchising ideas and help you realize your goals. Give us a call at 1-800-508-1729.