Which is the better option for you to own - an independent business or a franchise? There are pluses and minuses to each.
The most common minuses of owning a franchise are
Paying a franchise fee and ongoing royalty in addition to other costs like advertising fees
Not a lot of room for variation or creativity - must follow the brand standards
Confined to a limited geographic area (territory)
Lack of control: are you really the boss if you have to do it their way?
On the plus side of going with a franchise are
Proven business model with a formula for success: plug and play
Systems and processes are already developed and in place
Onboarding, training and support there for your success
Focus is on growing the business and executing
Today’s Franchise Minute podcast covers the pluses and the minuses of going the franchise route. Gain insider insights from Eric Stehle who has owned both an independent business and a franchised one. Join us at 11:30 a.m. EST today and every Wednesday to learn about and explore franchises.