There’s opportunity here in the Land of 10,000 Lakes. It’s an ideal state to start and grow a business, and you’ll read the statistics that prove it. And that business climate is why you’ll find abundant franchise opportunities in Minnesota worth exploring.
Why Minnesota Is a Great State To Do Business
To start with, you’ve got at least five thriving, business-friendly metropolitan areas where you’ll be warmly invited to start your enterprise.
You’ll find businesses for sale in Minneapolis, St. Paul, Duluth, Rochester, Bloomington, and surrounding areas. As a result, you’re never far from booming opportunity.
If you buy or start a business here, you’ll find the state to have the fourth-highest survival rate for new companies after the first, third, and fifth year in operation when ranked against all U.S. states. That’s pretty impressive. It proves Minnesota is welcoming to business, and so are its residents — your prospective customers or clients.
But the odds can be even more in your favor if you consider becoming a franchisee. A franchisee is an entrepreneur who goes into business by buying a franchise operation from a franchisor.
But What Exactly Is a Franchise?
A franchise is an independently owned and operated company, like any business. It might be a store, restaurant, hotel, service center, or other enterprise that buys the right to brand their company like a larger corporation with an established brand that already has a loyal customer base.
You do business with, or at least are very familiar with, hundreds or thousands of franchise businesses, no matter where you live. They include Midas Muffler, McDonald’s Restaurants, Freeway Insurance, Holiday Inn, Merry Maids, and countless others.
A key reason to take advantage of franchise opportunities in Minnesota is that they have already done much of the hard work. The parent company, or franchisor, has made mistakes, but they obviously survived them — and thrived. They show franchisees the practices, procedures, and processes that made them a success and train you to do the same. So, for first-time business owners, franchise operations may be relatively easy to open.
And yet, even with all of this training, guidance, and ongoing support, you’re your own boss. You are the business owner — no question about it. Your success is in your own hands, but your successful franchisor is always just a phone call, text, or email away.
That brand recognition is also critical. If you start your business from scratch, no one will know who you are or what you do. You’ll have to introduce yourself, explain your background, and achieve credibility before you can even begin the sales pitch.
If, on the other hand, you become a franchisee within an established and reputable larger organization, it’s likely that your clients or customers already know you — or think they do. After all, they’ve patronized the same name operations at home in Mankato and while vacationing in Florida. When it comes to business opportunities in Minnesota, franchises are valid options.
What Does It Cost to Buy a Franchise in Minnesota?
If you’re looking for businesses for sale in MN, you’re looking at a price tag in the millions of dollars. Well, possibly, or at least that might be the price tag if you’re buying a franchise with expensive infrastructure that must sit on valuable land, and you have significant mandatory start-up costs. What do you think you’d have to invest if you were opening a Hilton Hotel in downtown Minneapolis with a grand opening staff of 200 people?
Yeah, that would be pretty expensive.
But let’s say you’re an insurance agent who could work out of the spare bedroom in your home or the neighborhood coffeehouse. Your startup costs might not be much more than a laptop, smartphone, website, business card, and marketing materials. As for workforce costs, you have exactly one employee … you.
The cost of buying into a service franchise like an insurance agency can be quite reasonable because there’s very little overhead. You don’t have to have an office in a fancy St. Paul building or any employees until you’ve grown enough to need and be able to afford the extra help.
But in return, you get an established brand that people recognize and respect. Your clients already “know” you by your first contact because they might have bought car insurance from that brand in the past. Or their parents’ homeowners policy came with the very same familiar name and signage.
Instead of having to start with a long-winded account of your insurance background in order to achieve credibility, you can begin the conversation by talking about coverage options that meet your clients’ needs. That’s what they’d really prefer to discuss anyway.
How Do I Find and Buy a Franchise in Minnesota?
Start with a serious discussion … with yourself. What do you really want to do for a living? What are your talents and — more importantly — your passions?
In the beginning, you’ll spend a great deal of your time at the office (or branded store or that spare bedroom or neighborhood coffee shop), so you’d better love what you’re going to do.
Once you’ve decided on the sort of enterprise you want to explore, go online and find the relevant franchisors in your part of Minnesota. Once you’ve settled on a few options, find their franchise representative. You should be able to make contact by using a search engine to seek out “auto insurance franchises in Rochester,” for instance.
If you have a particular company already in mind, go to their website and look for information on franchising. Some might have websites solely devoted to franchises for sale in MN and elsewhere.
From that point, it’s a matter of striking up a serious conversation (probably several) with the franchise representative. They should be happy to patiently and thoroughly answer all of your questions about cost, availability, and the process of becoming a franchisee as fast as possible.
Now Consider Striking Up That Conversation With a Freeway Insurance Representative in Minnesota
If you’re seeking business opportunities in Minneapolis or elsewhere in the Land of 10,000 Lakes, franchising is a great option. We have exciting insurance company franchise opportunities for low entry costs in key locations throughout Minnesota. You’ll be your own boss but have the top-tier training, guidance, and support of one of the nation’s largest and most reputable personal lines insurance companies.
We’ll teach you how to build a financially rewarding insurance franchise in our part of the state–under your leadership.
Your startup investment will be affordable, and the brand behind you is known and respected throughout Minnesota. We’ll help you get the licensing you need in the state and meet all other education requirements that will make you an insurance agent and respected leader in your field.
Let’s get the conversation started.
Contact us online or call Freeway Insurance at (877) 822-3024 to speak to a franchising representative at your earliest convenience.
