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Wsi Franchise Review
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I am a student taking a 2 year MBA program. One of our assignments was to review business opportunities for budding entrepreneurs and those who would like to explore the world of self employment. When I took on my mission, I decided that I need to start at the top. That is when I discovered WSI.
WSI is a digital marketing company which was established in Toronto, Ontario in 1995. They have since expanded and have over 1000 internet marketing consultants in more than 80 countries worldwide. WSI, which stands for 'We Simplify the Internet', is now headquartered in Mississauga, Ontario. They have rapidly become world leaders in internet marketing, web development and web design.
OVERVIEW OF WSI SYSTEM
My research showed that WSI's Internet Consulting Franchisee's goal is to help small and medium sized businesses meet all their needs in the world of digital marketing. A WSI franchisee assists small and medium sized businesses realize their full potential as they are helped through the maze of digital marketing with successful strategies. The goal is to increase the client's on-line awareness of their brand, increase traffic on their websites and increase their conversion rates. This has exciting prospects!
WHAT I LIKE ABOUT WSI
The overall concept of WSI is simple. I found that the franchisee does not have to be a techie to run their business. WSI provides the technical support to the client on your behalf. The business can be run from a home office with minimal overhead costs. Being your own boss, allows you to free up time to do other things you would not normally be able to fit into a busy schedule with a full time job. You can work towards the life you really want. WSI offers a proven business plan which can take you on the road to success if you put in the effort.
CONS OR WEAKNESSES
In order to be successful in any business, you have to put in the effort. WSI is no different. The business is not just handed to you along with a client base. You must do your due diligence as in any new business. You needed to put in a lot of 'blood, sweat and tears' to get the franchise off the ground. Pounding the streets, meeting with potential customers and doing your research would be a good start. Once that happened, and the foundation was built, then you can take the opportunity to relax and enjoy your leisure time. With many WSI franchisees in over 80 around the world operating successfully, it is a testament to WSI's working model!
HOW MUCH DOES IT COST
The initial investment for a WSI franchise is $49,700. As mentioned above, overhead is low since you can work out of an office in your home. Additional staff is not required until your client list is large enough to support it. All training and support is included in the initial cost of the franchise. There is also a 10% royalty fee, which is certainly not out of line. Overall, the investment appears reasonable.
TRAINING / SUPPORT
Once the franchisee has signed up, there is an initial 4 to 6 weeks of virtual training on line. This is followed up with 7 days of training at the corporate head office. Additional support is given by a quick start coach for the next 3 months. WSI offers continued updated e-learning courses, corporate and regional training sessions, weekly webcasts, educational conferences etc... I heard that one of the comments repeated most often by existing franchisees was the satisfaction of on-going support offered by the head office. What you need is right at your fingertips!
STABILITY OF INDUSTRY
The internet will be around for years to come and new developments are happening at a rapid pace. Social media popularity is just starting to grow. On line marketing is growing by leaps and bounds. Just take a look every time you turn on your computer! There is a huge need for merchants to keep up with the ongoing changes to both digital marketing and social media. Is the industry stable? You bet it is!
GIVING BACK TO THE COMMUNITY
An exciting project that WSI is deeply involved with is the Make Child Poverty History program. In 2004, WSI joined forces with World Vision to create this vital outreach to help reduce the suffering of children around the world. The project's motivation is the words of Nelson Mandela who stated that 'Overcoming poverty is not a gesture of charity it is an act of justice.' To me, this is just an added bonus!
WHAT I LEARNED FROM SPEAKING TO THE WSI FRANCHISEES
I was finally equipped with what I needed to approach a franchisee or two, to get their side of the picture.
I found out that WSI provides a great starting point for someone whose desire is to own their own business. All the training and resources are readily available. WSI and their support, offers the opportunity to achieve goals and objectives.
One other thing I found was that it was franchisees themselves who developed the system offered to franchisees. It is a proven system which had already been offered to their own clients and is available to the new franchisees getting on board. Why reinvent the wheel?
What has impressed me is how passionate present franchise owners with their business success and the focus on their working for 'self'. Invest in yourself, not brick and mortar was heard more than once. That makes a whole lot of sense to me!
I went into this project skeptical. What was promised seemed too good to be true. However, the more I dug into WSI, the more I came to believe that a WSI franchise is definitely worth considering. All in all a great investment! WSI will be on the top of my list as I get into the work force. Why not start at the top?