Owning a franchise is wildly popular in the United States. A 2021 statistic stated that in 2020, it’s estimated there are over 750,000 franchise establishments, outputting more than $600 billion and employing more than 7 million people.
When it comes to owning a franchise, it’s imperative to understand the franchise advantages as well as the disadvantages to ensure you’re making the best decision for your situation. Below, we’ve listed many of the advantages and disadvantages of franchising.
Are franchises still a promising investment today?
Franchising is a solid investment plan in today’s business climate. The support the franchise can provide to their local community is attractive to investors who hope to improve their communities as well as earn a high ROI.
Franchises are often considered less risky than independent businesses. Among the benefits of franchising, franchisees can piggyback off the company’s name recognition and rely on support from the leadership, as well as avoiding the company’s past failures.
Why would failure be a measure of a business’s success? Only companies that have failed, learned, and continue to grow are the ones able to lead within the market.
Advantages & disadvantages for franchise owners
|Business Assistance||Restricting Regulations|
|Brand Recognition||Initial Cost|
|Lower Failure Rate||Potential for Conflict|
|Buying Power||Lack of Financial Privacy|
|Built-in Customer Base|
|Proven Business Model|
Why Launch Entertainment is a great choice for a beginner
Launch Entertainment is a leader in the family entertainment industry. More than a trampoline park, Launch is built around a team driven to provide world-class action parks. The global indoor entertainment center market size was valued at $18 billion in 2017. It’s projected to reach $40 billion by 2025. It’s one of the fastest growing family entertainment trends.
Launch Entertainment is a prime example of franchise advantages coming to life. By becoming an investor with Launch, you will receive four weeks of comprehensive training including:
- Sales & Marketing Strategies
- Hands On Operational Training
- Classroom Training
- Human Resources Best Practices Guidance
The goal is for the franchisee to be able to run their own location by the end of training with minimal assistance. Post opening, Launch holds quarterly reviews with all owners to discuss areas of success and opportunities for improvement.
It’s the perfect choice for a beginner looking to become an entrepreneur. Launch provides all the tools, manuals and procedural guidance that allows the business owner to focus on successfully operating their local park.
When investing in a franchise, you’re required to stick to the franchisor’s regulations and honor the contracts they have with their suppliers. Launch manufactures their own equipment and attractions, avoiding that particular disadvantage of franchising. This allows flexibility with the park layout, and it keeps equipment cost low for franchisees.
Franchise Advantages & Disadvantages in 2022
Now that you’ve read through some of the advantages and disadvantages of owning a franchise, you have the tools to consider whether investing is the right step for you. By joining the Launch team, you’ll have instant brand awareness along with the backing of an experienced franchising team to help lead you toward success. You’ll be given the necessary support and resources for your business to thrive, making it a solid choice for an entrepreneur looking to enter the franchise world.
Franchising with Launch
To learn more about the benefits of owning a Launch Entertainment trampoline park franchise, please fill out this contact form and one of our franchise development representatives will be in touch.