Top 10 Reasons to Buy a Franchise
People are often surprised to learn that Breakaway is a franchise! When our founder’s team sat down in 2019 to figure out the best way to serve our advisors and our clients, it quickly became clear, with the help of some good legal counsel, that a franchise model would work best. Here’s 10 reasons why franchises work, why we’re happy to be one, and how Breakaway is just a little bit different than your average franchise:
Proven business model: One of the biggest advantages of joining a franchise is that you can benefit from a proven business model that has already been tested and refined. As we quickly approach our fourth birthday, we know exactly what works for our advisors and help them to implement our tried and true tactics. For those accountants who go out on their own, the initial period of trial and error sometimes mean they never get their businesses off the ground.
Established brand recognition: Franchises often have well-known and trusted brand names, which can help you attract customers and establish your business more quickly. With almost 30 advisors and over 110 clients nationwide, Breakaway is on the road to becoming a household name.
Training and support: Franchisors typically provide comprehensive training and ongoing support to franchisees, which can help you succeed and grow your business. We love providing in-depth, small group training to our advisors on a variety of topics from advanced bookkeeping to self-care.
Access to financing: Some franchisors offer financing options to help new franchisees get started, which can be a big advantage for entrepreneurs who might have difficulty obtaining traditional business loans. At Breakaway, we don’t take an initial franchise fee, but we do offer scholarships and other financial support for advisors after they’ve started their business.
Marketing and advertising: Franchisors often have marketing and advertising programs in place to help promote their brand and attract customers, which can be a big help to franchisees. We’ve learned that accountants hate marketing and therefore offer everything from easy-to-use templates to 1:1 coaching to take this stress out of small business ownership.
Purchasing power: Franchisors can leverage their buying power to negotiate better prices with vendors, which can help franchisees save money. We’re proud to be able to offer top level partnerships and special pricing with cutting edge software vendors like Xero, Fathom, and Gusto.
Reduced risk: Since the business model and brand are already established, joining a franchise can be less risky than starting a new business from scratch. What a relief to know Breakaway always has your back!
Community - Access to a network of other franchisees: Many franchisors have networks of franchisees who can share best practices and offer support and advice to each other. Our specialty cohorts give advisors access to a hive of knowledgeable and friendly accountants of all types.
Scalability - Operational support: Franchisors often provide operational support to help franchisees manage their day-to-day operations, which can help franchisees focus on growing their business. IT, insurance, marketing, team-building, etc. can make the solo small business owner leave their business before they’ve even gotten stated. At Breakaway, we make sure our advisors grow their business at the rate that works for them to the size they want. No pressure, only support.
Exit strategy: Franchisors often have established processes for selling a franchise, which can be helpful for franchisees who want to exit the business or retire in the future. Build a book of business and want to try something new? Or build a new book of business for a different niche? That’s great! At Breakaway, we can seamlessly facilitate all of your transitions.
With no franchise fee, reasonable monthly desk fees, and all the support you could want, what are you waiting for? Reach out about joining Breakaway today by emailing info@breakawayba.com