Advantage #1 – The Experience of the Franchisor
When an individual buys a franchise, he purchases the years of experience and the proven methods of the franchise system, also known as the franchisor. One franchisee expressed it this way: “What I have learned from the franchisor was worth ten times what I paid for the franchise”. In any new business, much time and money are spent in trial and error. A proven franchise may eliminate many of the start-up problems. This reason permits one to open a franchise business with little or no previous experience in a given industry.

Advantage #2 – Training
A franchise system will provide training for the new franchisee. This is usually done at the home office and at the franchisee’s place of business. This training should prepare the new owner in all facets of the business.

Advantage #3 – Buying and Advertising
Most small-business people cannot afford inventory products in bulk or extensive advertising. The franchisee buys this advantage when he or she purchases the right to use the franchise system’s purchasing power and advertising. Most system provide advertising. Most systems provide advertising help and direction. Furthermore, as the number of franchisees increases, so does public awareness of the franchise. This can be tremendous advertising advantage. Also, franchisees that are located near one another can advertise together thus reducing cost.

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The Philippines continues to remain the franchising capital of Asia. One of our greatest successes as a country is having over 150,000 franchise outlets with thousands of happy franchisees. The Philippines continues to remain the franchising capital of Asia. One of our greatest successes as a country is having over  150,000 franchise outlets with thousands of happy franchisees.

With its high acceptability and 90% success rate over traditional do-it-yourself businesses, it has been a pretty typical case that a franchisee can own two or more franchise stores. Another great story is that a franchisee can actually own two franchise concepts that are different in category, because of the great business experience with the first franchise store.

Although there are a lot of success stories, there are still a few that have failed, and it almost always starts with their mindset. Here are three mindsets you need to change when entering franchising:

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