Are you thinking of starting out on your own? Owning a business is a big step that comes with many decisions, such as choosing whether to launch independently or buying an existing franchise. Each approach has its own strengths and weaknesses to consider as you walk along the path to business ownership. Read through this guide to learn more about the differences between independent businesses, franchises and what's right for you.
The Reality of Starting an Independent Business
Digital marketing is a complex industry, and trying to put together all the pieces can be overwhelming. As a service-oriented company, you can't afford to have clients that end up with bad experiences. Your online reviews go downhill, and you can't keep up with the latest changes in technology.
You're faced with long hours researching everything you need to know to deliver the same level of service as established digital marketing companies, or you pay a substantial amount for a specialized employee or consultant to help out.
When you run into problems that plague any new marketer, you don't have anyone to reach out to with your questions. Everything happens by trial and error, with mistakes that are often costly.
An independent business also lacks any name recognition. You have to go above and beyond on every interaction just to get your foot in the door with a new client. Actually landing the deal might not happen because they don't know enough about your organization. Clients may shy away from working with a business that is just getting started.
According to Gratner, the average marketing spend for organizations has increased to 12 percent of total revenue, and demand continues to grow. Every industry needs digital marketing to compete in the business marketplace, and organizations require continually more advanced and effective ways to get their message out there. A franchise system provides you with the right balance of support and freedom to adapt to the future of marketing.
The Major Advantages of Buying a Franchise
A digital marketing franchise provides a hassle-free experience for you and your clients. You can depend on an established knowledge bank, community and systems to kick-start your operations. The guidance is invaluable for becoming a thriving business in this competitive market.
You also get a reputable name behind your operation from the start. People already know and trust the franchise, so you can overcome any sales objections concerning the recent launch of your business.
Proven systems and tools take the guesswork out of getting established. You don't lose your startup capital to mistakes that are avoided with more experience. Instead, people that came before you are happy to share valuable insights.
The customer experience is seamless and consistent. You grow your loyalty client base by producing solid results since your time isn't tied up in procuring tools or reading digital marketing news. All it takes is a few happy customers to start the leads rolling in. They refer their social circle for your digital marketing services. Their positive reviews and blog posts help you generate leads and fill up your client pipeline.
Would you rather spend your time reinventing the wheel or putting together a quality vehicle? A franchise gives you better options, the information that you rarely get without a lot of frustration and time, and ready-made resources to power your business growth. If you want to give a little more thought to this option, we invite you to learn more about WSI by watching this webinar.
