Taking the first step to starting your own business can be daunting but equally exciting. The freedom of being your own boss, having control over your career and establishing financial security are all appealing reasons for making this choice, but how do you start? Should you invest in a franchise or start a new business from scratch?
Whilst the idea of creative and structural freedom is appealing for starting an independent business, it also comes with its own set of risks and uncertainties. Franchising however, offers a level of structure and security, balanced with independence.
In this guide, we’ll explore the main advantages of a franchise and why this might be the right option for you versus starting a new business. We’ll also dive into how a franchise like ours at Bridgewater Home Care can put you on the path to success.
Franchises are proven business models
The biggest challenge for many people when starting a business is getting things off the ground. You’re surrounded by uncertainty, handling operations through trial and error and hoping your concept will be received well. The first few months and years are make-or-break for a business, with many failing due to poor revenue, planning or experience.
One of the main advantages of a franchise is the drastic reduction of risk. When you invest in a franchise, you’re entering into a business model that is already secure, refined and successful. The service or products a franchise offers have already been established, and the operational process has been refined, and a place in the market solidified.
With a franchise like Bridgewater Home Care, you’re investing in a specialised model designed for the care industry, with proven and approved processes that contribute to stable and sustainable growth.
Brand recognition and reputation
Building a brand is no easy feat; it takes a lot of investing your time, money and effort. New start-ups and independent businesses often struggle to develop partnerships and connections due to the lack of trust towards inexperienced brands. In services like care, where reputation and trust are of the utmost importance, brand recognition is essential.
A franchise gives you access to trusted names that are far more likely to attract clients, especially when the brand is recognised and respected.
Our Bridgewater branding has established us as professional, compassionate leaders in the care industry, and when you become a franchisee, you’ll have instant access to this reputation. This gives you a foot in the door and helps you stand out in the local market against brand-new or untrusted competitors.
Structured support, training and guidance
Starting an independent business can feel isolating, and you’re very much on your own with the learning process. Figuring out compliance, industry and financial processes for yourself or having to hire experts to help advise on how to navigate this landscape. This can quickly become overwhelming and take away from your goals of growing a successful business.
Franchising offers structured and standardised support and training, allowing you to learn first-hand from experts. With established names like Bridgewater, franchise partners receive comprehensive guidance from a dedicated support team. You’ll be taken through the brand operations in detail, with instructions on how to meet regulatory requirements, how to effectively recruit new clients and the best way to operate internal systems.
You’ll also have access to experts to answer any questions or queries you may have. Support can come in the form of training courses, regular check-ins and operational resources to help you feel confident to control your own business.
Profitable business, faster
When you start a business from scratch, making a profit is often a lengthy process. You need to initially invest a lot of money to cover start-up costs, which, alongside establishing your name, building a team and clientele, can take time to transform into a profit.
When you invest in a franchise, the road to a profitable business is much shorter. With a fully structured system already operating, lean and efficient ways of working, and brand recognition increasing enquiries, franchisees are often able to reach break-even and generate revenue much faster than brand new businesses.
In an industry like home care, profit comes down to satisfied clients and proven care methods. With a well-structured franchise model in place, you can focus on ensuring exceptional quality of care and fostering and maintaining relationships. Positive feedback and experiences will generate new business, whilst start-ups struggle with the fundamentals of establishing a brand.
Streamlined processes and systems
Unless you have firsthand experience establishing effective business structures, it’s often extremely difficult to create efficient processes. From establishing an HR department to handling admin and payroll to setting up a competent IT system, operational elements of a business are often the most critical but time-consuming to establish.
The advantage of a franchise is that all these systems have been established and previously implemented. This saves valuable time for franchisees and also avoids any expensive trial and error.
Bridgewater franchise owners benefit from standardised processes and software implemented across all our locations. This allows operations to run smoothly from start-up and ensures compliance with regular growth and updates to processes.
Is joining a franchise right for you?
If you’re worried about the high level of risk involved in setting up an independent business, a franchise can be a brilliant alternative. You’ll still be able to experience the freedom involved in being your own boss, but with the added security of proven business models, already established systems and expert advice whenever you need it. For the home care industry in particular, starting from scratch can be a huge challenge as profits rely on positive relationships and reviews.
With an already established name like Bridgewater, you can skip the struggles of becoming a recognised brand and jump straight into providing important care for your local community.
Become a franchise owner with Bridgewater Home Care
If you’re interested in becoming a part of a franchise, you’ll need to prioritise more than just profits. Joining a franchise is about finding a partner who shares your values and can support your personal business growth and success.
When you become a franchise owner with Bridgewater Home Care, you’re becoming part of a brand experienced and dedicated to supporting others and providing high-quality care.
If you want to become part of our Bridgewater family , get in touch with us today on 01942 215 888. We’ll talk you through the next steps and help you step up your own business with the right support for you.
