It’s a scary statistic, especially when you’re setting off on the journey of business ownership — over 21% of small businesses fail in their first year, and 30% in the second. The statistic may make anyone who ventures to start a business think twice about doing so.
When you become a CEFA Franchise Partner, many of the hurdles that would overwhelm an entrepreneur starting a business are of less concern. By working with CEFA, you work with professionals who have been in the industry for over twenty years and will help guide you through the Franchising process and give you a good chance at success.
The Top Three Reasons New Businesses Fail
- Poor financial planning— While many businesses know how much money it’ll take to get up and running, they often don’t plan far enough ahead to meet payroll requirements, and monthly operating costs, and adequately price their goods. Many times they run into unexpected costs of doing business and deplete their budget. If they’ve used all their funding to get going, unexpected costs can make them close their doors within months.
CEFA Franchise Partners have the advantage of knowing upfront what all the costs are, and we require adequate financing and capital before making our partnership official, so the risks to you are minimized.
- Poor management abilities — Some business owners go into their operations without good management skills. They may know how to make a product or deal with customers, but they can’t delegate or manage a team of employees. Maybe balancing the books was never a part of their skillset.
When you decide to work as a Franchise Partner with CEFA, we share our management know-how with you. We teach you to run your School and manage staff efficiently. When it’s time to choose and design your School, we’re there to show you the best methods for success. No need to worry about beginner mistakes because we’re familiar with them and help you bypass pitfalls.
- Ineffective Marketing — Many new business owners aren’t familiar with the costs and expertise that go into marketing and advertising. Sometimes business owners see marketing as a luxury rather than a necessity, and that lack of planning costs them dearly.
As a CEFA Franchise Partner, you’ll benefit from our tested and established marketing methods and materials. CEFA has already established itself as a brand with an impeccable reputation and has been consistently voted #1 by parents. The CEFA brand gives immediate credibility and recognition to your school.
Starting a business with a solid partner like CEFA gives you a great advantage over going it alone, especially when you factor in the reasons for startup failure and how a CEFA partnership will help you win against the odds. When you’re ready to get started on your franchise ownership journey, we’re here to guide you.