EMERGING BRANDS
What Is An Emerging Franchise and Why Invest In It?
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by Greg Mohr, Consultant, The Franchise Consulting Company ne of my candidates, Jerome, came to me looking to get into a franchise. He worked in the department of human services and wanted to step away from that and get into his own business. He was particularly interested in the senior care field. Since it was his first time going into business for himself, he wanted to make sure he got into a franchise that he could believe in and that was going to go out of their way to help him succeed and give him lots of personal support. He wanted to look at franchises that had dozens or hundreds of franchisees to call upon to
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make sure the franchise did what it said it would. I had Jerome looking at franchises with hundreds of units and an one emerging brand. Investing in any franchise is a risk. You’re counting on franchisors for guidance; other franchisees for support and you’re investing quite a bit of money to build your business. Now add the risk factor of investing in an emerging franchise, a franchise with only a few franchisees. Does it add risk? Maybe, but there are far more benefits of investing in an emerging franchise that the little added risk. Your voice is not only heard by the franchisors, but it’s also helping to make positive
JANUARY 2022 | WWW.FRANCHISEJOURNAL.COM
changes for future franchisees. Take an extremely large franchise such as, Taco Bell or Hilton. Can you imagine a franchisee picking up the phone to call the President of the company to share an idea they had on how to make franchisees daily operations more efficient or producing new product? In an emerging franchise, you are able to have a close relationship with the corporate team or person, behind the concept and your ideas will be taken seriously. They believe in you as much as you believe in them. Here are few more reasons to join an emerging franchise.