Jason LeVecke, a well-established business consultant, has engaged with diverse businesses and nonprofits in designing growth strategies. Experienced in infrastructure development and contract and lease negotiations, Jason LeVecke has particular knowledge of franchise strategies.
The unique advantage of a franchise is that it employs a model developed by the parent company in areas that range from car rentals to restaurants. The franchisee licenses the brand, as well as associated services and products, and the overall business model. In most cases the franchisee also receives exclusivity pertaining to a specific region or location. Franchises are ideal for entrepreneurs seeking turnkey solutions in which all of the guidelines, operations, support, and training are provided.
However, there are certain trade-offs to owning a franchise. For instance, the franchise owner typically invests his or her own assets for supplies, equipment, property, and employees. In addition, strict rules must be followed encompassing services sold, suppliers used, and business methods. Lastly, because the business rights are being licensed from the franchisor, the entrepreneur does not have rights to the products, services, operation model, or brand name.
Ultimately, despite its trade-offs, the franchise investment can be ideal for those who want to run their own business while also having access to the support and resources that a major company provides.
