Franchising vs Starting from Scratch — What’s the Difference?
Congratulations! You’ve done the research on how to start your own business and you’re ready to take the leap. You’re looking forward to being your own boss and enjoying some of the perks that come with that. Still, all that research may have left you feeling a little nervous — because after all, starting a business from scratch is a lot of work and involves a fair amount of risk. A used car franchise with Byrider makes it a whole lot easier to become you own boss, by providing a time-tested business model and thorough franchisee training and support. In fact, there are lots of reasons why partnering with a franchisor makes sense. Let’s take a look at a few of them, here.
A Foundation on Which to Build
Partnering with Byrider to begin your used car franchise immediately makes you part of a trusted brand family and provides you with a foundation on which to build. None of that happens when you start a used car business from scratch. We are the nation’s leading used car dealership and finance enterprise and we’ve spent decades growing our brand and promoting our name. Furthermore, our comprehensive business model makes the most of a robust industry and takes a lot of the trial and error out of running your business —that can free you up to concentrate on other important aspects of the job, like growing your customer base.
You Better the Chances of a Successful Used Car Franchise
Buying into a franchise brand doesn’t guarantee success, of course, but it does better your chances. According to the Bureau of Labor Statistics, about 20% of all start-ups in the U.S. close after the first two years of operation, and just over 38% do so after four years. By comparison, a five-year study performed by the franchise consulting firm FranNet shows that 92% of their franchise placements were still in business after two years, and 85% after five years. These numbers make sense when you consider that the franchise model of doing business rests on a tested formula for success, and when you become part of a franchise brand, you become part of a winning strategy.
No Prior Experience Needed
Most franchise brands don’t require their potential investors to have business experience, and Byrider is no different. We welcome potential franchisees with all kinds of professional experience and from all walks of life. Diversity makes us stronger, and our comprehensive training and support ensures that you’ll start your used car franchise on the right foot and headed toward success. You’ll also benefit from our expert marketing and advertising infrastructure to help you get the word out. These are advantages that all our franchisees enjoy and that can’t be had when you start your business from scratch.
If you’d like to find out more about how to start a used car franchise with Byrider, get in touch today!