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4 Ways Franchise Ownership Minimizes Business Risk

StartupNationStartupNation administrator Posts: 625 Site Admin
edited August 2019 in Recent StartupNation Articles

image4 Ways Franchise Ownership Minimizes Business Risk

Many individuals interested in pursuing entrepreneurship often choose to become franchisees in order to minimize risk in operating a business.

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Comments

  • JuliaZJuliaZ subscriber Posts: 1 Member

    Yes, franchising has its benefits.

    I would also like to throw in the option of taking a really hard look at the industry you are considering joining and see if you can shadow or research intensely the business model. How about getting an entry level job in a competitive business and learning the ropes? THEN start your own business rather than entering the industry within a franchise.

    With business so competitive now a days, and margins so slim, you would be better off to learn the ropes from a competitor and start your own business WITHOUT the restrictions of a franchise agreement and the 5-8% royalty fee.

    You can be much more flexible about your ideas and agile with direction of your business without the franchise restrictions, and you get to keep the 5% royalty fee for your own business development.

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  • Jessie HookieJessie Hookie subscriber Posts: 351 Silver Level Member

    Thank you for sharing it with us!

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