A Franchise Business – To Buy Or Not To Buy
Aspiring franchisees often find themselves-they have plenty funds, do not want to work for somebody else, but have little business skills.
What exactly is a franchise?
The word is used to refer to a business that utilises the logo, name and operation systems providing that they come up with the required funds and are prepared to give the parent company a share of the profits.
Just like any other business there are positives and negatives the future depends on several factors.
A franchise enables on to hit the ground running – it removes a great deal of the work in simply getting an idea from the head to the planning board to a functioning project.
On the downside franchise fees are usually high – this is the burden of being spoon-fed an entire business – along with this comes the necessity to have sufficient funds laid aside. It could be argued that without sufficient funds the simple act of purchasing a franchise could well be deemed as a burden.
Arguing against that, a franchise has lower risks than a brand new product irrespective of how good the product is....