At Money Mizer Pawns & Jewelers Franchises we know what a big decision it is to make when going into business for yourself. There are a string of emotions from worry, uncertainty, and fear to excitement, optimism, and eventually relief. Many new independent small business owners deal with these emotions by themselves, where uncertainty and anxiousness grow. For those who choose franchising, a support team is behind them to help move past the worry and fear and onto assurance and excitement about their new business.
According to statistics published by the Small Business Administration (SBA), about half of all employer establishments survive at least five years and a third survive ten years or more. An independent business owner can be more likely to suffer failure in the first five years than a business owner who choses to become a franchisee for many reasons.
When buying into a franchise, you pay a fee to license the right to operate a branded turnkey business that allows you to sell a prescribed set of products or services that are consistent across all of the brand’s locations. An independent business operator however, is responsible for all decisions regarding what they are offering for sale, and how they will sell it. No head office means no fees to pay, but also no support of any kind.
Aside from the operational support that franchisors offer to their franchisees, one of the greatest strengths of a franchise is its brand. Franchises spend considerable effort building and tweaking their brand. If they’ve done a good job, that brand communicates a simple, but powerful message which promises the consumer a good experience and value for their dollar. A reputation in the industry has already been established for you when you are a franchisee. The franchise as a whole has likely been in business long enough that it has now made its mark in the field, meaning you do not have to worry as much about establishing yourself among competitors.
Although the pawn industry has been in existence for literally thousands of years, it is still a mystery to some. Money Mizer Pawns & Jewelers strives to offer both operational support and brand recognition to our franchisees. Money Mizer has been operating our chain in the southeast for over 35 years and has revolutionized the pawn experience with its upscale pawn image. As our presence continues to grow so has our reputation of being a friendly goto for short-term banking needs and discounted retail sales.