Franchisor Stories
Whether it be getting in with an emerging brand on the ground floor or leveraging the established customer base of a legacy brand, Fit For You Franchising knows different-sized franchises come with different benefits.
When researching franchise concepts, one of the main considerations prospects will run into is whether to join an established, legacy franchise brand or an emerging contender with a smaller footprint. Fit For You Franchising, the franchisee-first franchisor and franchisee consultancy run by franchise industry veteran Jason Markowicz, offers guidance for future franchisees on finding the best fit for their personal and financial goals. As a part of this process, Markowicz says he helps prospects understand the pros and cons of franchising with legacy versus emerging brands.
Here are some of the benefits Markowicz says prospects should keep in mind when deciding between up-and-coming concepts and established franchise brands.
Proven business model. An established brand offers franchisees access to a company that has been in business for many years, which Markowicz says comes with an array of advantages. “Established brands, especially those that have been around for decades, have a proven business model that has been perfected over the years,” he said. “An older brand may have weathered economic downturns or other challenges, and that’s going to be attractive to investors.”
Support from corporate. A legacy franchise also usually features a robust corporate team with in-depth experience in the industry. “The expertise of the leadership team at the top of an established brand can be a big advantage for franchisees,” said Markowicz. “That team can be a guiding force and can help position owners for success.”
Positive consumer response. Markowicz notes a larger franchise brand will also likely have a dedicated customer base in markets all over the country or world. “This can give franchisees more confidence that they will be able to generate business in their market and can leverage instantly recognizable brand recognition,” he said.
The cultural fit. Since the company culture will already be established in a legacy brand, Markowicz says this can be advantageous for prospective franchise owners evaluating whether or not they will fit in. “Having this culture in place will make it easier for prospects to know if their goals and core values align with the team and whether they will feel good about working there,” he said.
Scalability and adaptability. Legacy brands can also offer franchisees easy and reliable scalability, Markowicz points out, when it comes to multi-unit growth. “Whether it be through streamlined operations, predictable AUVs or proven systems, legacy brands already have a strategy in place to help franchisees scale the business quicker and more efficiently,” said Markowicz. “This infrastructure also means franchisees can adapt to unforeseen challenges easier without worrying about slowing down growth or profitability.”
Prime territories. For emerging brands, Markowicz says one of the primary advantages is the ability to snap up prime locations in a large array of markets. “Many emerging brands will feature wide-open territory availability, which means prospects have a chance to enter prime markets that may be sold out for many competitors,” he said.
More influence over the direction of the brand. By joining an emerging brand at the ground floor, a franchisee can also potentially have more of a say about how the brand develops. “Whether it is in regard to the business model, support or operations, franchisees can give feedback about what is and isn’t working,” said Markowicz. “Getting in with a company early gives you the opportunity to have a little more flexibility and impact on the bigger picture.”
Room to grow. With a younger franchise, prospects can scale at their own pace without worrying about the brand running out of available territories. “Emerging franchises should have territories mapped out, but they most likely will not be filled yet,” said Markowicz. “If you start as part of their first few franchisees, you will have room to grow and expand your territory.”
The excitement of watching growth. Rather than investing in a large franchise that has already seen it all, an emerging franchise is new and exciting. “Being a part of an emerging franchise allows owners to truly feel like they are running their own business and feel passionate about helping the brand succeed by educating consumers on a new service and helping shape the brand,” said Markowicz.
Closer relationship with the franchisor and franchisees. By joining a brand at the ground floor, a franchise owner can also develop a more flexible and collaborative relationship with the franchisor and network of existing owners. “When you start with an emerging franchise, you will be among just a few franchisees,” said Markowicz. “This means franchisees have the opportunity to create a close-knit group with the corporate team and other franchisees. Having that confidence to know there is always someone you can call is a major advantage and can help an owner during the first few years of business.”
About Fit For You Franchising:
Fit For You Franchising is a franchisee-first franchisor and franchisee consultancy. It is the franchisor behind low-cost group-fitness franchise fitWAVE as well as Fitness Premier 24/7 Clubs, a larger-box fitness brand. As a franchisee consultancy, Fit For You offers guidance for future franchisees on finding the best fit for their personal and financial goals. Fit For You is run by Jason Markowicz, a former multi-unit franchise owner of Massage Envy and current developer of Prose Nails, a membership-based nail salon. For more information, visit https://1851franchise.com/fitforyoufranchising.
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