EXPERT ADVICE: Catherine Monson, Cfe | Ceo | Propelled Brands
Benefits of
There are many benefits to franchising, a system that enables an individual to own a small business, using an existing brand, in order to compete more effectively in their local market.
There are many benefits to franchising, a system that enables an individual to own a small business, using an existing brand, in order to compete more effectively in their local market. Unlike a traditional small business model, in franchising, you are in business for yourself but not by yourself, benefiting from the brand’s strength and business model, as well as their intellectual property, advertising, marketing, support, supply chain, and training. Another benefit of being part of a franchise is the sharing of knowledge and best practices not only from the franchisor, but also the brand’s other franchisees. Here are just a few of the many benefits a franchise network can offer someone who has a dream of owning their own business.
A model for success Aspiring business owners see the value in buying into a system that has been 52 Franchising MAGAZINE USA
CATHERINE MONSON, CFE, Propelled Brands, CEO Immediate Past Chair of the International Franchising Association, IFA Catherine Monson brings 30 years of franchising and management experience to her role as CEO of FASTSIGNS International, Inc., and Propelled Brands, the multi-unit franchisor that includes FASTSIGNS®; SIGNWAVE® in Australia where FASTSIGNS centers operate under the SIGNWAVE brand; NerdsToGo® and Suite Management Franchising, LLC, the parent company of MY SALON Suite® and Salon Plaza®.
successful for others. We understand this concept on a daily basis whether it’s reading reviews to know which car to purchase or asking our friend to refer a doctor to find a trusted practitioner. Franchising can provide that peace of mind, as long as you are dealing with a reputable franchisor with extensive franchising experience, a focus on franchising best practices, and a brand with proven success. This incredibly effective model truly assists people on the path to reaching their business ownership success goals. Franchising is the most democratic form of wealth creation, providing the franchisee the opportunity to generate economic output, create jobs, and build
generational wealth. In our brands, we focus on franchisee profitability, as we truly believe it is the foundation of franchising best practices.
Trusted reputation and brand awareness Instead of having to build a brand from the ground up, joining a franchise network brings years of established recognition and brand awareness. With the starting point of a solid foundation on day one, a business owner is able to leverage what has already been created, instead of starting with nothing. This brand recognition and reputation allows business owners to have a great head start, even if they’ve never
