Heres the situation that aspiring franchise owners commonly find themselves in: they have adequate resources to use as capital, they want to stop being a paid employee, but they have zero entrepreneurial skills. And so they end up choosing to buy a franchise because its the perfect compromiseor is it?
What is a Franchise?
The term franchise is used to refer to a business thats using the name, logo, and system of operation of a parent company in exchange of a franchise fee and a share of profits. Other rights beside the ones mentioned previously may be included depending on the agreement between the franchiser (the parent company selling franchise rights) and the franchisee (the buyer, which may be an individual or a company).
Pros and Cons of Owning a Franchise
Just like any other business, there are both benefits and drawbacks of owning a franchise, and whether youll have a positive future with a franchise or not depends on numerous factors.
PRO: A Franchise Allows You to Hit the Ground Running.
When you purchase a franchise, you need not suffer months or even a year of finding out for yourself who your target market is and whats the best...
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