franchise vs business opportunity
Is it better to buy a franchise than starting your own business?
2013/12/15
Going into business is a big decision for many aspiring entrepreneurs. One way is to start a business from scratch; the other way is to buy a franchise with a well-known brand name. Each one of these alternatives has its cons and pros. When the choice has been made the next question becomes what kind of business to choose (Ralph, 2013). There are so many different options to choose from today that it can be difficult to figure out what path is best to follow. Once an individual has decided what is best for them, it is important to know the differences between franchises and business opportunities. In the long run they are fairly similar but there are a few distinct differences. In this essay I will state why buying a franchise is usually more successful than starting an own business.
One of the key points in opening a franchise is that it already has from the beginning a famous brand and well-organized operating system. For example, a Big Mac in Stockholm will be just as well recognized in New York and it is essential that the Big Mac for instance, is exactly the same everywhere in the world. A franchise system therefore makes a rigorous effort to ensure that every operator is doing things the same and every division is supporting the brand as well as reinforcing the brand. However, if the franchisor or another franchisee makes a mistake, it could affect all of the other franchisors, which did not have anything to do with that particular mistake (Ralph, 2013).
A franchise has the advantage of always getting support throughout the entire possession of the business. This means getting support programs that involve dedicated support from personnel whom specialize in marketing, staff training, technology and virtually any other aspect of ongoing operations. As mentioned above, when having a franchise you get a lot of support not only from the
2013/12/15
Going into business is a big decision for many aspiring entrepreneurs. One way is to start a business from scratch; the other way is to buy a franchise with a well-known brand name. Each one of these alternatives has its cons and pros. When the choice has been made the next question becomes what kind of business to choose (Ralph, 2013). There are so many different options to choose from today that it can be difficult to figure out what path is best to follow. Once an individual has decided what is best for them, it is important to know the differences between franchises and business opportunities. In the long run they are fairly similar but there are a few distinct differences. In this essay I will state why buying a franchise is usually more successful than starting an own business.
One of the key points in opening a franchise is that it already has from the beginning a famous brand and well-organized operating system. For example, a Big Mac in Stockholm will be just as well recognized in New York and it is essential that the Big Mac for instance, is exactly the same everywhere in the world. A franchise system therefore makes a rigorous effort to ensure that every operator is doing things the same and every division is supporting the brand as well as reinforcing the brand. However, if the franchisor or another franchisee makes a mistake, it could affect all of the other franchisors, which did not have anything to do with that particular mistake (Ralph, 2013).
A franchise has the advantage of always getting support throughout the entire possession of the business. This means getting support programs that involve dedicated support from personnel whom specialize in marketing, staff training, technology and virtually any other aspect of ongoing operations. As mentioned above, when having a franchise you get a lot of support not only from the
References: Elgin. J. (2013). Buying a Franchise Versus a Business Opportunity. Entrepreneur. http://www.entrepreneur.com/article/181212 Gold. P. (2013). What 's Included In the UFOC? Portsmouth, NH. Franchise Solutions, Inc. http://www.franchisesolutions.com/franchise-business-planning/whats-included-in-the-ufoc.cfm Sandeep. K. (July 15 2011). What 's The Difference Between A Business Opportunity And A Franchise? USA. Open forum. https://www.openforum.com/articles/whats-the-difference-between-a-business-opportunity-and-a-franchise/ Massetti. R. (September 19, 2013). Independent business or franchise? How to decide. The franchise builders. http://www.thefranchisebuilders.com/category/franchiseprimers/page/5/ Kroeker. C. (2013). http://www.bizbuysell.com Lutz. A. (August 6, 2013.) How much it costs to operate a restaurant. NYC. Business insider. http://www.businessinsider.com/mcdonalds-franchise-owners-hold-meeting-2013-8 Franchise costs, what is required? UPS USA. http://www.theupsstorefranchise.com/ups-franchise-information-FAQ 53 Century Blvd, Suite 250 Nashville, TN 37214 Toll Free in US. NFIB. http://www.nfib.com/business-resources/business-resources-item?cmsid=51064 Vinson. R. Nevada. Vinson Franchise Law Firm. http://franchiselaw.net/startups/usfranchiselawbasics.html