Common myths of Franchise ownership

June 6, 2024

Myth 1: Franchise Ownership is Only for Entrepreneurs Leaving Their Jobs
Truth: Many owners maintain their current professional role while operating a successful franchise. Manager-run franchises allow you to have the best of both worlds, providing additional income without giving up your day job.

Myth 2: You Must Have Industry Experience
Truth: While having industry knowledge can be beneficial, Bishops Cuts/Color provides comprehensive training and ongoing support. Your leadership and management skills can be far more valuable.

Myth 3: All Franchises Require a Hefty Initial Investment
Truth: While some franchises require a significant investment, others, like Bishops Cuts/Color can be started with relatively modest capital. The key is finding the right opportunity that matches your financial goals and capabilities.

Myth 4: Franchises Limit Creativity
Truth: While franchises follow proven systems, there’s still room for strategic decision-making and creative marketing. It’s a balance between adhering to the proven model and injecting your personal touch. Bishops Cuts/Color prides itself on letting owners guide creative related to their market and the growth stage of their store.

Myth 5: Profitability is Guaranteed
Truth: Like any business venture, franchises are not immune to risks. Success depends on multiple factors, including location, market demand, and the owner’s commitment and business acumen.

Myth 6: Bigger Franchises are Always Better
Truth: While big-name franchises often have strong brand recognition, emerging franchises can provide unique opportunities with lower competition. The right fit depends on your goals, budget, and market research.

Myth 7: The franchising process can be scary
Truth: This one might actually be true! Think about what scares you, what excites you, and what support will be provided by the franchisor in your journey.

It may be scary, but the experience with franchising should be exciting! To learn more about Bishops Cuts/Color franchise opportunities please visit https://bishops.co/franchise/