A photography franchise has a lot of appeal for those wanting to get into the photography business. It is easier compared to starting an independent business enterprise. What do you stand to gain if you engage in this business privilege? What are its disadvantages? Is photography franchising worth it? These are expounded below.
Photography entrepreneurs who are in a franchise enjoy the following benefits:
Instant Business Start-up. Having a franchise gives you a business right away. A franchise is basically a handy package of the industry you want to immerse in. You just have to pay the photography franchisor and you're off to make money.
Trainings. Franchisors occasionally conduct trainings, seminars, and conferences for their franchisees. This is very helpful for franchisees to refine their business skills to be able to prosper in their business enterprise.
Instant Recognition. Franchisees have the privilege to use the name and logo of the reputable photography franchisor they have chosen. This results in increased appeal and subsequent increase in the number of customers, especially if the photography franchisor is recognized worldwide.
Business Promotion. Being in a franchise gives you instant marketing privileges. The franchising company helps its franchisees to advertise their products and services. They give them due recognition to gain the confidence of the public. They refer established clients to capable franchisees. They also present marketing methods, tips, and tricks in various media for the franchise entrepreneurs.
In contrast, here are the stumbling blocks of being in a photography franchise.
Large Fees. Purchasing a franchise requires you to have a lot of money. A complex business franchise is simply expensive that only a few financially-advantaged entrepreneurs can afford them. There are, however, low-prized franchises for a simple photography business.
Royalty Payments. Aside from the costly prize of a franchise, franchisees have to pay a regular royalty fee to their franchising companies. This fee is for the continued use of the franchisor's name and logo in the business.
Conformity. If you are in a franchise, you cannot set your own rules and operation protocols. Most franchisors have specific instructions on how they want their products and services to be rendered to consumers. This is to maintain the standards of their products and services. Franchisees have to sign sworn agreements and abide by these instructions.
Purchase Agreements. The photography industry uses a lot of equipment and supplies to come up with their clients? outputs. This means photography studios have to make regular purchases of equipment and materials. Most franchisors require their franchisees to obtain their supplies from them, at whatever costs they offer. This can be very unfortunate especially if there is an existing company that offers much cheaper supplies.
Should you get into it?
After the pros and cons of photography franchising, the question remains if you will go for it. This would actually depend on your capabilities and resources. Go for a business enterprise if you have the money and don't actually mind the royalty fees and conformity issues. On the other hand, you plan to build a simple or home-based photography service business; you might want to consider going the independent route. Go independent if you see that the start-up costs for this route is much cheaper and you have the capability to do it on your own.
0 comments on "Should You Buy a Photography Franchise?"