Should You Buy A WSI Franchise?
There are so many opportunities available, even if you focus only on internet solutions. Some are franchises, some not. When looking at franchise internet solutions the question arises: “Should you buy a WSI franchise?” Let’s look at why you might consider a franchise business in this sector, and why you might consider this opportunity to be the right direction.
Why A Franchise
Good franchises, in any sector, provide some things you don’t necessarily get by being an independent provider. Good training and a real focus on all of the systems that the franchise has developed are very important. However, one of the most important aspects, often overlooked, is the network of other franchisees. That community makes a significant contribution to your success.
In the case of WSI, you are looking at a franchise that provides “internet solutions” to local businesses, targeting small to medium-sized operations. The company has been in business since the mid ’90’s and has its headquarters in Toronto, Ontario, Canada. They are an international franchise (80 countries) and claim to be the largest franchise of its kind in the world. Entrepreneur Magazine consistently ranks them as the #1 technology franchise in terms of growth.
WSI primarily sells its franchise opportunity. Its franchisees, in turn, sell a service and a product. The product is a customized web-site for some customers. The service is in marketing the website and company on the internet. The franchisor’s affiliations with various industry leaders give it credibility in selling its franchise opportunity. Those affiliations may help to some degree, say in branding, for the franchisees. However, results are results. In this competitive world, satisfaction regarding market penetration is what matters. As stated above, your most important resource at WSI may be the other franchise owners who can provide a myriad of viewpoints regarding customer solutions.
You would buy a WSI franchise if you feel their training combined with the international network of consultants would give you a significant advantage. Many people are more comfortable as part of a larger team. Because WSI is a franchise, during your due diligence, you’d have the advantage of being given a list of all of their existing franchisees and their contact information. That will help considerably in your investigation. You can contact any of them to ask how successful they have been and how well the franchise lives up to its promises. This one aspect is available by law only from franchises. It is significant.
Why Not WSI
If you are not comfortable being required to follow someone else’s systems, you shouldn’t buy any franchise. If you don’t feel that the purchase price is worth the up-front fee, in this case $49,700, nor the ongoing royalties (the percentage of your profits you pay the franchisor) then you shouldn’t buy any franchise. However, not having to develop your owns systems, or test all the alternatives the franchise has already tested out, can well be worth the costs you pay for this license.
If you don’t like the concept of a franchise, there are many reputable companies from which you can receive the necessary training to provide very valuable internet solutions to your local small to medium-sized markets. Frankly, it may be a little more difficult to conduct your due diligence because you aren’t given a list of everyone who has purchased the training. Even so, if you are willing to spend a reasonable amount of time in your investigation (possibly a lot less than investigating a franchise) you can reach a very sound conclusion on buying a WSI franchise or one of these other alternatives.