What are some of the advantages and disadvantages of starting your own business compared to buying a franchise?
The bottom-line issue that will help you decide whether franchise ownership is really for you is to think in terms of control: how much control do you prefer to exert (or not exert) over how the business is operated.
Franchise ownership works for those persons who want to start their own business, but don’t really want to start EVERYTHING from scratch.
The parent franchise organization removes a lot of barriers because they have thought through a lot of what is involved in getting the business off the ground and moving…but then managing/growing the business is sometimes left up to you – the franchise owner.
Starting your own business from scratch gives you the leeway of doing everything your own way…but you’ve also got to struggle through all of the decisions regarding products/services to offer, naming, and pricing all on your own.
So, it really all depends on how much business ownership latitude you REALLY want.
Check out :http://sbinfocanada.about.com/od/franchiseinfo/a/buyfranchise.htm it highlights the advantages/disadvantages of buying a franchise.
Best of luck deciding between the two!
Kind Regards,
Latarsha, MBA
January 29th, 2010 at 5:58 pm
The bottom-line issue that will help you decide whether franchise ownership is really for you is to think in terms of control: how much control do you prefer to exert (or not exert) over how the business is operated.
Franchise ownership works for those persons who want to start their own business, but don’t really want to start EVERYTHING from scratch.
The parent franchise organization removes a lot of barriers because they have thought through a lot of what is involved in getting the business off the ground and moving…but then managing/growing the business is sometimes left up to you – the franchise owner.
Starting your own business from scratch gives you the leeway of doing everything your own way…but you’ve also got to struggle through all of the decisions regarding products/services to offer, naming, and pricing all on your own.
So, it really all depends on how much business ownership latitude you REALLY want.
Check out :http://sbinfocanada.about.com/od/franchiseinfo/a/buyfranchise.htm it highlights the advantages/disadvantages of buying a franchise.
Best of luck deciding between the two!
Kind Regards,
Latarsha, MBA
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