Bond and insurance tools are valuable for new business owners to lessen possible dangers. Knowing what dangers to avoid can be difficult which is why many franchisees are left feeling overwhelmed and confused.
Understanding the benefits of utilizing bonding as a franchisee will only enhance your marketability. Image One alleviates potential dangers by offering franchisees insurance and bonding with the initial investment.
Investing in a franchise without receiving bonding can be devastating. But investing in a franchise that offers bonding and insurance as part of their business model is wise. Here are a few benefits to franchising with a bonded company and receiving bonding as a franchisee.
If a company is bond-protected and offers its franchisees to be bond-protected, as well, that’s a good sign. Bonds ensure businesses are following rules and regulations. If you are a franchisee who suffers damages by a bonded company, you can seek compensation. If a franchisee is with a company that is bonded, the franchisee’s trust in the company will increase.
A bond is a tangible source of credibility of a franchisee that the client can validate. A bond is the resume-pleaser for clients. It’s what sets the franchisee apart from others. A franchisee who is properly bonded earns the trust of clients. It’s no question that consumers are aware of the 4 S’s: scams, scandals, sketchy businesses, and a shaky economy. A franchisee who is bond-insured will give a safety net of vulnerability to clients.
The 4 S rule works both ways. It is true that a franchisee can present a scam, engage in a scandal, and possess a sketchy business all in the context of a shaky economy. But these same truths for a franchisee are also true for a client. Therefore, a bond also protects a franchisee from clients.
To find out more about bonds and franchise insurance, call our office at 630-616-1010.