Innovation and novelty have long been hallmarks of good business. Customers, themselves, are obsessed with having the newest and latest thing. This is what motivates most individuals to buy the newest smartphones, despite having a model made in the last few years that is clearly sufficient enough to accomplish the daily tasks that they need to live their lives. Innovation, in particular in the United States, has long been lauded as one of the greatest characteristics that a company or individual can possess. It has pushed American capitalism and industry beyond what many others thought was possible, and gave American business a competitive advantage soon after the founding of our country. However, in even more modern times, this same focus on innovation and novelty have become crutches that are no longer necessarily effective strategies for generating revenue.
According to Dr. Maurice Roussety, reasons to franchise your business include start up capital, established logistics, more resources, and the goodwill of your parent company. Goodwill, more than anything, is the number one advantage that franchises have in the modern market. Goodwill is the reputation that a parent company provides for their franchises. It enables new franchise owners to draw on the existing customer base and reputation of their parent company. This generates revenue and brings in business almost immediately, securing the financial future of the franchise in the long run. In contrast, startups function independently and do not have the backing of a parent company. In fact, they often have very little support, initial capital, resources, and logistics. This makes them not only extremely difficult to maintain in the modern market, but also extremely risky.
That is why those who are truly serious about finding success in the business world have to look back to old methods that can be applied to a new market.
For Dr. Maurice Antoine Roussety, guiding companies to business success is all about being upfront and honest about their chances. Part of this process is helping clients understand where the current market is going and where individuals are finding success. In our modern economy, this means looking for alternative routes to climb the corporate ladder. For those hoping to be business owners, startups are a thing of the past. Now is the age of franchising. Although an old business concept, franchising is a better option for those hoping to be business owners in the modern world because they can rely on the strength of a parent company to help them get their feet underneath them.