When I work with people who are looking at buying a franchise, I sometimes ask them to name the first five franchises that come to mind. Usually all five are business-to-consumer (B2C) franchises such as restaurant or mailbox type franchises.
The aim of this article is to let you know that theres another whole world out there! Business-to-business (B2B) franchises, which supply services to businesses, instead of to individual consumers, are one of the fastest flourishing sectors in franchising. Products and services range from temporary personnel placement to commercial window cleaning. They include sign companies, computer support, business coaching, printing, marketing services, logo apparel and on and on.
For many potential franchise owners a B2B franchise can be the perfect fit. Many people who leave the corporate world to buy their own franchise have spent years promoting their products and services to other companies or to other departments within their own company. They are comfortable and experienced in this type of environment. They enjoy professional business relationships. They are proficient at structuring solutions.
B2B franchises frequently require less physical infrastructure than B2C franchises. They are usually scalable and many B2B owners value that the business is generally open Monday through Friday, during traditional business hours.
A B2B franchise might be less expensive to get into than other types of franchises and may need lower operating cost. In a lot of instances, overhead is lower and marketing is more targeted, which is typically less expensive than marketing to the masses.
One item that may keep overhead low is the amount a B2B franchise pays for rent. While retail space may be expensive, most B2B franchises are located in office buildings, where space is more affordable. Some B2B franchises are even home based. For instance, an IT firm might actually be an association of high-level IT subcontractors, who travel from their own homes directly to the customers site.
Some B2B franchises do need retail space. For instance, a staffing company that requires to be accessible to numerous potential employees might be located in a retail location; an auto parts store that caters primarily to auto repair businesses could also be open to the public.
As you can realize, there are obvious advantages to owning a B2B franchise. But there can also be disadvantages. If you do not have a solid business background you may have trouble working effectively with business people, who tend to be busy and to-the-point. B2B franchises tend to work with a smaller number of large customers, rather than many individual customers. The loss of one customer can make a large dent in your top line. And since competition in the B2B arena tends to be sophisticated, you have to be at the top of your game.
But if you own a strong business experience and are one the scores of people desiring to take the next step in franchise ownership, dont overlook B2B! It could bring you enjoyment, monetary rewards, and some weekends off!
The aim of this article is to let you know that theres another whole world out there! Business-to-business (B2B) franchises, which supply services to businesses, instead of to individual consumers, are one of the fastest flourishing sectors in franchising. Products and services range from temporary personnel placement to commercial window cleaning. They include sign companies, computer support, business coaching, printing, marketing services, logo apparel and on and on.
For many potential franchise owners a B2B franchise can be the perfect fit. Many people who leave the corporate world to buy their own franchise have spent years promoting their products and services to other companies or to other departments within their own company. They are comfortable and experienced in this type of environment. They enjoy professional business relationships. They are proficient at structuring solutions.
B2B franchises frequently require less physical infrastructure than B2C franchises. They are usually scalable and many B2B owners value that the business is generally open Monday through Friday, during traditional business hours.
A B2B franchise might be less expensive to get into than other types of franchises and may need lower operating cost. In a lot of instances, overhead is lower and marketing is more targeted, which is typically less expensive than marketing to the masses.
One item that may keep overhead low is the amount a B2B franchise pays for rent. While retail space may be expensive, most B2B franchises are located in office buildings, where space is more affordable. Some B2B franchises are even home based. For instance, an IT firm might actually be an association of high-level IT subcontractors, who travel from their own homes directly to the customers site.
Some B2B franchises do need retail space. For instance, a staffing company that requires to be accessible to numerous potential employees might be located in a retail location; an auto parts store that caters primarily to auto repair businesses could also be open to the public.
As you can realize, there are obvious advantages to owning a B2B franchise. But there can also be disadvantages. If you do not have a solid business background you may have trouble working effectively with business people, who tend to be busy and to-the-point. B2B franchises tend to work with a smaller number of large customers, rather than many individual customers. The loss of one customer can make a large dent in your top line. And since competition in the B2B arena tends to be sophisticated, you have to be at the top of your game.
But if you own a strong business experience and are one the scores of people desiring to take the next step in franchise ownership, dont overlook B2B! It could bring you enjoyment, monetary rewards, and some weekends off!
About the Author:
This article was written by Rick Bisio, who wrote the book, The Educated Franchisee. Rick has been recognized as one of the most respected franchise consultants in the US and has mentored thousands of individuals on owning and operating a franchise. Visit the Educated Franchiseeto sign up for a free newsletter and more information.
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