There are thousands of franchise options to consider, so it’s hard to figure out which options might be your best fit. To help you better understand the franchise landscape and start narrowing down your options, this is the final of 4 articles that will break down the Spectrum of Franchising, based on the operational criteria of each category. While there are always going to be a few exceptions, the vast majority of franchises will fit into one of these four categories.
Today, let’s look at Outbound B2B Professional Services:
These businesses have some of the lowest initial investment ranges of franchise businesses, often only $50,000 to $100,000, because an investment in getting a location and buying a lot of equipment is rare. Instead, the investment is for the franchise fee, initial training and working capital for the first several months of operation.
These types of business almost exclusively serve other businesses, often with an attractive repeat purchase component, and typically operate a traditional Monday – Friday workweek hours.
Because these businesses typically serve their customers at the customer’s location, they’re not location-dependent and are often home-based, but there is a strong ongoing outbound selling component… outbound prospecting and networking is required throughout the entire life of the business.
There are few ongoing operating expenses, so these businesses enjoy some of the highest profit per revenue dollar. This contributes to a faster time to break even than the other three categories
Examples of this type of business include:
Business coaching, sales training, digital marketing, financial consulting, staffing and commercial building maintenance are a few.
These businesses are very appealing if you have strong sales and relationship-building experience. People like this type of business because of its ability to help companies improve and run more effectively. People also like the very wide range of lifestyle freedom and flexibility that they have in running this type of business.
Outbound B2B professional services are just one of the four structural options available. If you’re curious about exploring which category might be your best fit, I can help you identify and explore your best options. I’ve helped hundreds of people achieve success in franchise ownership, so I’d welcome a call to explore possibilities! Book a call now.
Originally posted on LinkedIn
