Reasons to Start Your Own Business Instead of Buying a Franchise
For people who have decided to start their own businesses, there’s always the crucial decision of which to choose ; having your own private business or buying into a franchise. There are obviously advantages and disadvantages of both options and choosing the right one for you may be tricky, indeed. On one hand, starting your own business maybe appropriate, if you value your independency a great deal and you don’t want to answer to anyone. However, on the other hand, franchising saves you the trouble of building one block at a time by presenting to you a tried and true business model, therefore saving you the hassle of so much trial and error to go through while at the same time providing you with an established brand name to work with.
Franchising sounds like the easier option so far but don’t be so quick to make a decision. Buying into a franchise is associated with a great deal of rules and clauses you must abide by. You’re going to have to sign an agreement which predetermines for you several aspects of how to run your business. A truly independent entrepreneur who has had experience when it comes to building and running businesses, would not appreciate being told what to do in such specific and restrictive terms. Although, such an agreement would save this sort of entrepreneur a great deal of worrying, it’ll be hard not to pine for his or her old ways.
There’s also the issue of any disputes or conflicts that may arise in the future. You have to keep in mind that most franchising agreements are laid out so that they tilt in the favor of the franchiser upon the development of any disagreements.
Like I said, there are advantages and disadvantages for both types, so consider each carefully.