October 21, 2018
Bonding and insurance tools are valuable for new business owners to lessen possible dangers. Knowing what dangers to avoid can be difficult; that’s 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.
Bonds Protect Companies
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.
Bonds Protect Clients
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.
Bonds Protect Franchisees
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.