iCode is delving into franchising to offer aspiring entrepreneurs a clear pathway to business ownership. But what is franchising exactly and what is iCode offering? In exchange for a license agreement and fees, iCode will grant business owners rights to their brand’s trademark, systems, training and resources to help replicate the model in your market.
Read on to understand the specifics of franchising and why an iCode education franchise is your best bet as a budding entrepreneur.
What is Franchising?
Franchising is a form of expanding and marketing in which the owner of a business, i.e., the franchisor grants business rights to an individual or group of individuals, the franchisee. In accordance with these rights, the franchisees can start selling a product or providing a service using the franchisor’s business system.
Many business owners are attracted to franchises because they exhibit proven processes and scalability. A franchisor’s popularity, growth and trajectory can impact a franchisee’s decision to invest in a brand rather than to attempt to start a similar business on their own.
To give you more insight into the world of franchising, we have outlined key points you need to know about franchising and how this benefits your future business.
Education franchise is an Established System
Education franchises offer a replicable model with proven potential. Afterall what is franchising, except a means to avoid starting from scratch. Franchisees can use a brand’s training, tools, support and buying power to get their own business off the ground and to know which franchise is the best franchise to own. These systems are in place to ensure your franchise meets the brand’s standards and ensure a consistent customer experience from store to store.
Education franchise is a Commitment
Entering into a franchise agreement is a commitment to both yourself and the franchisor. Deciding to build a business is a big decision that requires personal and financial investment, so you’ll want to be sure you’re ready to take on this endeavor.
When you sign a franchise agreement, you are telling the franchisor that you are dedicated to growing and managing your own business under their brand. The franchisor trusts you to follow their systems to ensure your business adheres the brand’s standards and quality of products or services.
It is a Partnership
Your franchisor is not your boss. Think of your franchisor as your business partner. At iCode, we act as a sounding board for our franchisees, offering guidance and feedback to help them make the best decisions for their tech franchise. We provide initial training, buildout support, ongoing resources and much more to ensure you feel confident in your ability to grow your business.
It is Not a Guarantee of Success
While franchising can make your path to business ownership a much simpler process, the franchisor cannot guarantee that your business will be profitable. That part is up to you. The franchisor’s aim is to set you up for the best possible outcome by helping to identify the right location, providing you with robust training and offering you support. However, most franchises are not a “plug and play” model. They require ongoing commitment from the franchisee and their management team to see the best results.
Own a Tech Franchise
Are you interested in education, technology or shaping the great minds of tomorrow? Then a children’s tech franchise could be right for you. To learn more about franchising with iCode, we encourage you to explore our website. Or, you can reach out to our team to ask us questions about the benefits of owning a tech franchise and how you can get started.