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    Should you Invest in a Franchise or Start your own Business?
    #1
    Join Date
    Mar 2014
    Location
    Pretoria, South Africa
    Posts
    31
    When you are looking at opening your own business, one of the questions that you need to answer is whether you should invest in a franchise model or rather start your own business from scratch. There are advantages and disadvantages in both business models and you should take a careful look at your situation before deciding.

    With a franchise model you buy into a proven concept with a lot of the homework already done. Customers tend to buy from shops that they are familiar with and this would be one of the advantages with a franchise model. One of the disadvantages would be the cost of buying a franchise model.

    You can save money if you start your own business from scratch. You will also have full control over all areas of the business and will be the sole decision maker. One of the disadvantages is that you will need to cover all of the bases (legal, marketing, finance, operations and HR) all by yourself. It might also take longer before your business reaches the sales needed to cover your overheads.

    Which one of the models would you go with and why?


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    It's definitely much easier to go for a franchise than start your own business, for the very reasons that you've stated: proven concept, known brand, less legwork. If you have enough money to buy a franchise and you want to go into business in a jiffy, then go for it.

    However, having your own business is much more rewarding in the end. It will take a lot of work, a lot of hits and misses, but it will be something that is entirely you. You don't even have to shell out so much money to start your own business. You can dictate the amount of capital that you want to infuse into it and you will be in complete control of the operations. It may take longer for it to grow but when it does, it will still be your brand, your baby. And who knows, maybe you will be the next brand that people will be lining up to buy franchise rights from


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    it depends on your expertise, if you have enough expertise then better start from scratch and use extra money to develop the business later on


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    For me, much better to start first with franchising before going or making a normal business so that you can gain a lot of things that need as a businessman/woman. In worst scenario, just in case it will down atleast you just spend not so much. Thanks


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    In this day and age, where there are big companies and businesses that dominate the competition. It's getting harder and harder for new businesses to make an impression towards consumers when there is another one which has years of experience and results. By using a franchise, you also gain some reputation with their logo and credibility with their system.


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    You raise many good points. However, I'm not so sure if you're going to save money by starting your own business from scratch. The capital required to do so can be significant. I work closely with Diana from ServiceMaster Restoration by Zaba and she is a strong proponent of franchising. Many franchises give you full control over most aspects of your business like hiring, etc. Here are some good tips from Diana for anyone who is considering franchising. Definitely worth a read:

    http://www.huffingtonpost.com/diana-...b_9935068.html

    I hope this helps!


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    #7
    Join Date
    Dec 2016
    Location
    33 Browning St, Yokine WA 6060, Australia
    Posts
    163
    It depends on your experties and experience, Franchise business are proven system but it cost you a lots of money but when you start your own business like me you you can invest for small to large capital and you'll create your own business system and super cheaper expenses than franchise. remember low investment = low income, high investment = high income


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    A multimillionaire who built Action International up from a home-based operation to the 16th fastest growing franchise in the world in just twelve years, with nearly 1,000 franchises worldwide, Brad Sugars is one of the most successful franchising experts in the world. I think you must read Successful Franchising.


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    Last edited by pauldeguzman0809; 06-07-2018 at 10:52 PM.
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