In Honor of National Entrepreneur Day, Explore How Franchising Empowers First Time Business Owners
BANNOCKBURN, Ill., Nov. 19, 2024 /PRNewswire-PRWeb/ -- As National Entrepreneur Day approaches on November 19, BrightStar Care, a leader in home care and medical staffing, shines a light on the advantages franchising provides for aspiring entrepreneurs.
Data underscores the significant stability and growth potential associated with franchised businesses compared to independent startups. Approximately 92% of franchises remain operational after their first two years, in contrast to only around 80% of independent ventures. This translates to franchise businesses being 1.5 times more likely to succeed through the initial critical years. The disparity grows even more notable after five years, with 85% of franchises still thriving, compared to just 50% of independent businesses. These statistics illustrate how franchising serves as a robust pathway for long-term business success, offering a more resilient framework and reduced risk.
Support from Day One
A major advantage of launching a franchise business compared to starting an independent enterprise is the support provided by the franchisor, beginning on day one and extending throughout the lifecycle of the franchise. Franchisors supply a suite of ready-to-use resources, including marketing assets, HR guidance, company policies, and established business models. These tools save new franchisees valuable time and streamline operational processes, enabling them to focus on growing their businesses with assurance and efficiency.
Established Brand Recognition
Customer attraction and retention can be significant hurdles for any business, but franchisees benefit from the power of established brand recognition. This familiarity lends immediate credibility to new locations, making it easier to build trust and connect with potential customers. As a result, franchisees often experience faster customer base growth, positioning them for rapid market success.
Business Autonomy
Franchising strikes an ideal balance between entrepreneurial independence and structured business support. Franchise owners enjoy the freedom of leading their local teams, making decisions tailored to their community, and supporting local economies—all within the framework of a proven business model. This blend of autonomy and established support makes franchising an appealing option for those seeking both security and the excitement of business ownership.
This National Entrepreneur Day, BrightStar Care encourages prospective business owners to explore the unique advantages of franchising. With extensive training, a wealth of resources, and a dedication to excellence, BrightStar Care continues to set the standard for successful entrepreneurship within the healthcare industry.
For more information on franchising with BrightStar Care please visit http://www.brightstarfranchising.com.
ABOUT BRIGHTSTAR CARE:
Founded in 2002, BrightStar Care is a national home care agency with more than 400 corporate-owned and franchised locations nationwide that provide medical and non-medical home health care services to clients and supplemental care staff to businesses. BrightStar Care corporate and franchise agencies across the country employ more than 15,000 caregivers and 5,700 registered nurses who oversee the care and safety of each individual client. BrightStar Care offers custom medical staffing solutions to corporate entities and holds national accounts with government agencies across distinct patient populations providing healthcare staff anywhere care is needed. Female-founded by Shelly Sun, BrightStar Care is committed to providing a higher standard of care through its clinical nurse-led care model. Network-wide BrightStar Care agencies are Joint Commission accredited – the gold standard within the health care industry. BrightStar Care has also consecutively received The Joint Commission Enterprise Champion for Quality award for more than a decade.
Media Contact
Jodie Fredericks, BrightStar Care, 1 2094019604, [email protected], http://www.brightstarfranchising.com
SOURCE BrightStar Care; BrightStar Care
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