Franchisees are entrepreneurs who want to work in a proven business. They desire the freedom of being their own boss, yet want to get started with a trusted partner like UFG. ROI provides essential support for businesses by performing the functions of business. This means the experts are doing expert-level work in areas like bookkeeping, payroll, and other essential functions of business, but at a rate conducive for the business employing the vendors to grow in revenue.
The typical ROI franchisee is someone who is passionate about the business of business. These are people who may have had businesses in the past and noticed how much time is spent on the business side and not the product/service offered by the business. Sometimes these folks are serial entrepreneurs, other times they are people who love the idea of connecting passionate professionals to each other. The typical ROI franchisee is as follows:
However, there are plenty of franchisees with many different characteristics that are successful too. ROI is all about entrepreneurs passionate about supporting other entrepreneurs.
Franchising is a type of entrepreneurial program allowing people to own a business while not having to build the business from scratch. A franchisee pays for a license to use a business’s name and likeness in order to offer products and services to the general market. Franchising is quite successful – 50% of retail dollars spent in the United States are spent in franchised businesses. This is despite franchises making up roughly 10% of the retail marketplace. There is a healthy franchise market in the B2B sector as well, and this is the space in which ROI operate.
The typical franchise royalties are less than 10%. Think of it this way – what is the cost of hiring professionals to handle all the different aspects of business? These could be yearly salaries along with benefits. Labor is the highest driver of a business’s expense. Also, there is cost in developing marketing, patents, designs, and other elements to create a business. Before a business has its first customers, massive money is spent just getting a business ready for market. Instead, a franchise provides all of these elements and then some, and the royalty is the small price for the stability of a franchise.