4 Ways Franchise Ownership Minimizes Business Risk

StartupNationStartupNation administrator Posts: 625 Site Admin

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.

  • Jessie HookieJessie Hookie subscriber Posts: 351 Silver Level Member

    Thank you for sharing it with us!

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