As a franchise consultant, I get lots of questions about who is right to become a franchise owner. It’s a good question. Franchising has been an incredible way for aspiring entrepreneurs to become small-business owners while mitigating risks as they build their empire. For people who like the idea of working within a proven model of success and leaning on the unparalleled support offered, franchising is a great road to business ownership for practically anyone.
However, there are some groups of people who find franchise businesses particularly appealing. One of those groups is immigrant entrepreneurs.
Immigrants make up roughly a quarter of all new businesses in America each year, and several of those businesses are franchises. Here are just a few reasons why franchising makes sense for aspiring immigrant entrepreneurs.
Less guesswork involved. Immigrant entrepreneurs see the appeal of a proven franchise model and support due to their lack of familiarity with the American marketplace. Starting an independent business is a risky venture for anyone, but if you’re new to the country where you’re opening the business, that’s even riskier.
Customer comfort with the brand. Many immigrants are sensitive to the fact that American customers are more likely to buy products from brands they recognize and trust. Franchising allows owners to keep the customers’ focus on the business and not on them.
Success in franchising depends on system adherence. Immigrants have to go through a rigorous process in order to immigrate to America. There are rules and restrictions regarding who is allowed to immigrate, and following the process is crucial to being granted the right to come here. Franchise businesses are similar in that they have a model that’s already proven to be successful, as long as the franchise owners follow it. If an immigrant can successfully navigate a system to come to America, there’s a good chance they can apply that same skill to succeed as a franchise owner.
Franchising promotes legacy building. Immigrant entrepreneurs are excited to be in America and eager to live their American dream. For many, that dream includes securing a prosperous life for themselves and for generations to come. Franchise businesses are often family businesses, with legacy planning a large part of it. That stability and security for their children and grandchildren makes franchise business ownership very appealing.
If you’re an immigrant or know one interested in exploring small business ownership through franchising, I’d love to help. Give me a call at 919.846.7111, shoot me an email at email@example.com or click the button below to schedule an appointment.