The Professional Service Franchise … Three Great Extra Benefits

Franchises come in all shapes and sizes. There are retail goods and wholesale goods franchises.  There are full-time and part-time franchises. There are professional service and blue-collar service franchises. There are franchises that are home-based, others that require brick-n-mortar and some that operate out of a van.

Also, there are combinations of these. There are the part-time, blue collar, retail franchises. And the full-time, wholesale franchise that operates out of a van. There exist a franchise for most any business type or industry.

Now, every franchise type has its benefits … great financial potential … cutting-edge industry … easy to master. The professional service franchise, however, has unique benefits. These are franchises where the services are often deemed to be white collar in nature (consulting, coaching, etc.) or perhaps require a professional degree (such as accounting, finance, legal, etc.). These benefits include:

  1. Lower Required Franchise Investment: Generally speaking, there is not a tremendous amount of required overhead involved with owning a professional services franchise. These franchise opportunities do not have many fixed assets and may not even require a separate office or place of business. Therefore, you would have a lower overall investment as compared to many other franchise types.
  2. Business Synergies: If you are someone who already has a professional degree or accreditation (or an aptitude to using your intellectual skills to help others), it can be much easier for you to step into a professional service franchise as opposed to learning a new trade, skill or specialty.
  3. Value Beyond: If you get into many franchise operations, the skills and techniques you learn are unique or specific to that business or industry. Thus, when the time comes to sell your franchise and move on to something new, much of the intellectual capital you have relative to that franchise does not transfer and is lost. With a professional services franchise, however, while you will not be able to compete against the franchise, the development you generated during your tenure sticks with you and will serve to benefit you on your next business adventure.

So, while every franchise holds great benefit, a professional service franchise has some unique benefits that you ought to consider as you ponder your franchise investment.

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