There are a lot of ways on how you can earn money. While others do it by securing a stable job, some earn by running their own business. Several people would consider the latter because it allows them to spend more time with their family and follow their passion. If you share the same sentiment, managing a UPS store franchise might be an excellent choice for you. Unlike other businesses which will require you to start from scratch, a franchise already has established procedures and large customer base. You won’t even have to exert time in marketing since the brand is already known to many.
What Is UPS?
UPS or United Parcel Service was founded in 1907 and has grown into a multi-billion dollar company ever since. UPS offers multinational package delivery and supply chain management services. Today, this company is one of the largest package delivery companies that also offers a variety of transportation and logistics services. And with the demand for convenient delivery services across the globe, you can expect that this company will continue to grow in the coming years.
The growth and size of this business can be promising for franchisees like you. Since UPS already has a good track record in the industry, you can guarantee that customers are already well-aware of the brand and the services it provides. However, before you invest in a UPS franchise, you should consider its cost analysis at franchiseknowhow.com and, most importantly, you should be able to weigh its pros and cons first.
UPS Franchise: Pros Vs. Cons
A franchise business will require money from you. More often than not, you will be required to pay a certain amount of money in order to earn the right of selling a specific brand and carry its name. When you decide to pay and become a franchisee of UPS, you can expect to enjoy the following pros:
1. It uses the most advanced technology.
More and more people use technology every day. They use it to accomplish their daily responsibilities, do more at school or work, and improve their productivity levels. When you choose to invest in a UPS store franchise, you don’t have to worry about keeping up with the times. This company actually uses the most advanced and highly developed information system in the world. Because of this technology, the company can effortlessly deliver over 13 million documents and packages every day. UPS paid for at least $1 billion for this technology and continues to upgrade it annually.
2. It’s the best in its category.
Regardless of the niche and target market of your business, expect that you will always have competition. Several companies are opening every day, making the business arena stiffer by the minute. Fortunately, you don’t have to fret about how you can secure the top spot in the industry because UPS has already done this for years. This company has been voted as the number one in its category for 19 consecutive years now.
3. It has a high overall ranking.
It’s common to hear stories about how someone was scammed to go into business. Usually, the franchiser (who is the scammer) would require the franchisee to make a financial investment, and once the franchisee gives the money, the franchisor will immediately disappear. The franchisee will be left with nothing while the scammer flees with another person’s money. Steer away from this kind of situation by entrusting your money to well-known franchise businesses such as UPS. This business is 17th on the list of top 500 franchises, making it one of the most trustworthy and reputable names in the industry.
4. It’s popular.
After deciding the type of franchise business to invest in, next comes the struggle of creating marketing strategies. As an entrepreneur, you should come up with the most effective and unique marketing campaign for your franchise—how else can your customers know that you exist? Choosing a UPS store franchise will not require too much of your marketing efforts. As mentioned, this company has been around for decades, allowing thousands of customers to patronize the brand.
But on the other side of the coin, a UPS store franchise isn’t all good. Although this business can provide several opportunities for people like you, it also comes with some setbacks such as:
1. Reaching the target profit can be a struggle.
Earning profit is probably one of the reasons why you decide to invest in a UPS store franchise. And although this endeavor promises a lot of things, its profitability remains to be questionable. In order for you to profit from the franchise, you need to have at least $30,000 monthly sales every month. If you don’t have any experience in the business, reaching these numbers can become a struggle.
2. It can cause too much pressure.
Purchasing a franchise business is easier than starting one on your own. Usually, you’ll have people to mentor you once you invest in a franchise business. However, you’ll still face a lot of challenges with this type of business setup. For one, you have to make drastic adjustments with your daily routine and schedule to accommodate the franchise business. And because a UPS store franchise will require a hefty amount of money from you, you need to work twice as much to earn a profit. You need to double—or even triple—your efforts in order to sell. This is one of the most common complaints franchisees have with a UPS store. Because of the requirements of the franchise, they’ll usually end up unsuccessful in the business or be in debt.
Knowledge Is Power
Running a business isn’t an easy feat. After making the financial investment, you’ll need to exert time and effort in monitoring the operations of your business. This will require your time management and decision-making skills, just to name a few. For you to come up with the best decision when it comes to franchising, do your research and learn as much as you can with UPS. The more information you have about the franchise business, the easier it’ll be for you to prepare for your next move.