Learn why opening a The UPS Store franchise is a good choice for entrepreneurs.
The franchising industry is rapidly expanding and expected to continue to grow over the next few years. According to a 2018 study performed by the International Franchise Association, the franchise sector has seen gains in multiple areas including the number of establishments, employment, income and GDP. In addition, the U.S. Bureau of Labor Statistics reports that small businesses like franchises account for more than 60 percent of all new jobs created annually.
One of the most significant factors contributing to franchising’s hot streak is the upswing in the economy. The declining unemployment rate means more jobs are becoming available and consumers are responding by spending more. Subsequently, as consumers are increasingly able to pay off debt, financial institutions have more money available to lend to entrepreneurs seeking funding for opportunities like starting a The UPS Store franchise.
With over 5,000 locations, The UPS Store is the world’s largest franchisor of retail shipping, postal, printing and business services centers. Earlier this year, The UPS Store was named one of the top 25 fastest growing franchise brands by Entrepreneur Magazine. So, what makes The UPS Store such a popular choice?
The UPS Store offers a variety of financing options to help ensure every franchisee starts off on the right track. We’ve teamed up with Guidant Financial to provide the best funding options for franchise loans. Their innovative pre-qualification tool helps streamline the approval process and provides prospective franchisees their maximum funding amount, a list of funding options and a comparison chart of pre-approved programs in a matter of minutes.
Our flexible financing options also include special discounts for qualifying veterans seeking to start their own business. In addition to the standard incentives we offer to support active and former military members’ entrepreneurial ambitions, we’re also saluting our veterans with additional incentives by waiving the franchise fee for the first 10 eligible veterans to qualify between May 1, 2019 and November 11, 2019.
Prominence and Recognition
The UPS Store is an industry leader with a great reputation and nationally renowned brand name that has garnered a myriad of accolades and recognition. In fact, 2019 marked our 29th consecutive year for inclusion on the Entrepreneur Franchise 500 list. This annual ranking of top franchises is based on factors like brand strength, growth rate, financial stability, support and costs and fees. The UPS Store ranked #5 among all franchise brands and #1 in the postal, printing, communications and business services category. One of the main reasons The UPS Store has been consistently named a top franchise brand is our commitment to continued growth and evolution to better serve our customers.
Depth and Breadth of Product Offerings
We believe one of the best ways to support our franchisees is by continuing to develop innovative new products and services. The UPS Store offers a wide range of small business solutions including printing, accounting, mailboxes, business management, direct mail, financial services, human resources and marketing. We also have an approval process that franchisees can use to propose new solutions if they recognize a need in their market that The UPS Store could address.
All these services aren’t just great for customers, they also translate into a breadth of revenue streams that make owning a The UPS Store franchise a great opportunity for entrepreneurs.
The UPS Store offers multiple options for ownership from traditional to non-traditional locations, including store in store concepts. Non-traditional locations are located within larger sites like military bases, hotels and convention centers or college campuses. These locations provide services vital to the operation of the property in which they reside. The reduced space and equipment requirements of this type of location can result in a lower entry cost than a traditional store, making it easier to get started.
In recent years, our store in store concept has been expanded to allow franchise owners to set up a center within a smaller local retail business like a pharmacy or hardware store. Locations within an existing retail setting help small businesses differentiate themselves from larger competitors by offering all the services available at any The UPS Store location. The real value of this model is that it allows owners to expand relationships within their existing customer base and in some instances provide access to services that were lacking within the community. The store in store concept drives more customers into the location creating additional sales opportunities for the primary business, making it an attractive option for existing business owners.
Many top franchises avoid rural markets, but our business model actually helps franchisees use small markets to their advantage. Although rural communities generally have fewer people to serve, there’s also less competition which means increased visibility. It’s also more affordable since real estate, utilities and operating expenses are usually less in rural markets. To increase affordability even more, The UPS Store developed the Main Street franchise model for franchisees opening a location in a small town or rural community. This option offers a reduced fee and lower start-up costs to help jump-start profitability.
We believe in investing in the success of our franchisees by providing support and guidance every step of the way. Our award-winning comprehensive training program teaches franchisees everything they need to know about operating a successful The UPS Store location before they even open their doors. Our in-depth educational program via web-based training, interactive workshops and hands-on experience covers operational procedures, business acumen, marketing, human resources and financial management in addition to technical systems and equipment training. But the learning doesn’t end with the store’s grand opening. The UPS Store franchise system is a family of collaborating owners that love to help one another and continually share learning experiences by connecting at area meetings, regional conferences and our national convention.
These are just a few of the reasons The UPS Store is one of the top franchises to own and an excellent choice for entrepreneurs looking to open their own business. To learn more contact our franchise development team, join one of our weekly webinars or attend a live event in your area.