Many prospective small business owners in London and all over the UK consider investing in a franchise instead of a traditional company. While franchises are a good option for some people, for others they will simply never fit. This comparison of franchises and traditional small businesses should get you on the path to making a decision.
1. Branding. Franchises come with a brand, including a logo design and a brand personality. In many cases, this brand is one that has been proven successful in many other places throughout the UK. This saves small business owners the trouble of having a logo design and brand created uniquely for their company. However, there are disadvantages to this as well. A brand that is handed to you may never be a good fit with your own values and preferences. If you decide to make a few changes that would help your business be more successful, it simply isn’t possible.
2. Marketing. Many UK franchises belong to companies that have large national marketing campaigns. This can seem like a huge benefit to a small business owner that wonders whether he or she can campaign successfully against these larger entities on a limited start-up budget. However, there are benefits to the smaller marketing efforts that a traditional small business owner might make. They are often highly personalized to the community, highly targeted, and have a more sincere feel that savvy UK consumers will take seriously.
3. Choices. What kind of business do you want to open? For most small business owners, the sky is the limit. Any idea, any unfilled niche, can be a lucrative and long career. For franchises, the selection is more limited. To be fair, there are many franchises to choose from, offering possibly hundreds of UK business ideas in a neatly wrapped package. However, there simply are not the options that you would have if you decided to go it alone.
4. Aesthetics. With many franchises, the aesthetic aspects of a store are already determined by the franchise brand, which means they are set in stone. Whether you think violet makes a lovely colour for a baby boutique is irrelevant. Obviously you will always have to think about branding when choosing the aesthetic elements of the average business, but these would be uniquely yours and not part of a package pushed upon you.
5. Cost. Cost should not be everything when it comes to small businesses, but it is nonetheless an important part of the equation. In exchange for a franchise, you will have to pay rather large franchise fees in addition to renting a location and investing in products. While franchises offer a formula that is easy to follow, it comes at a significant cost.
Are you interested in becoming the next UK small business success? If so, it is time to talk to a logo consultant about creating a logo design and a brand that will draw in customers and give you the chance at success that you deserve.