If you want to just run a business without the hassle of creating it (getting a name, advertising, products, brands, etc.) then buy a franchise.
If you start a business from scratch (if you have a unique idea to which you are quite attached and of which you are quite fond) it will be more work, and potentially less rewarding. But you might also do quite well. Just be prepared to do more paperwork, make more decisions, and have a bit less financial predictability.
franchises are probably easier to get started, since it already has a strong basis and name recognition. But I think it probably also gives you less creative freedom. If you’re pretty particular about what you want to do, then you might want to start your own business.
The benefit of buying a franchise is you have name recognition and an advertising group that goes with it. Menu decisions (in the case of a fast food franchise) are made for you and prices are set by the home office. You don’t have to make a lot of decisions to make your business a success.
The downside is all of the above. You get managed by a front office and don’t have the authority to scrap menu items that don’t work or, in the case of a clothing franchise, the ability to go buy a different line of clothes.
It’s far more likely that you’ll succeed with a franchise, though. That name recognition gets folks to your door with a minimum of effort.
It depends on how much you want to invest and if you already have idea of business to start from scratch.
The advantage of buying a franchise is they are already in business for years and people already know about them and if they like their service, they would go back to the same name. But franchise is expensive.
If you start from scratch you probably can cut some of the expenses.
Katy said,
February 4, 2010 @ 2:57 am
If you want to just run a business without the hassle of creating it (getting a name, advertising, products, brands, etc.) then buy a franchise.
If you start a business from scratch (if you have a unique idea to which you are quite attached and of which you are quite fond) it will be more work, and potentially less rewarding. But you might also do quite well. Just be prepared to do more paperwork, make more decisions, and have a bit less financial predictability.
gypzndog said,
February 4, 2010 @ 3:56 am
franchises are probably easier to get started, since it already has a strong basis and name recognition. But I think it probably also gives you less creative freedom. If you’re pretty particular about what you want to do, then you might want to start your own business.
loryntoo said,
February 4, 2010 @ 4:39 am
The benefit of buying a franchise is you have name recognition and an advertising group that goes with it. Menu decisions (in the case of a fast food franchise) are made for you and prices are set by the home office. You don’t have to make a lot of decisions to make your business a success.
The downside is all of the above. You get managed by a front office and don’t have the authority to scrap menu items that don’t work or, in the case of a clothing franchise, the ability to go buy a different line of clothes.
It’s far more likely that you’ll succeed with a franchise, though. That name recognition gets folks to your door with a minimum of effort.
key715 said,
February 4, 2010 @ 4:49 am
It depends on how much you want to invest and if you already have idea of business to start from scratch.
The advantage of buying a franchise is they are already in business for years and people already know about them and if they like their service, they would go back to the same name. But franchise is expensive.
If you start from scratch you probably can cut some of the expenses.
Frank Castle said,
February 4, 2010 @ 4:50 am
Franchise.
Jake K said,
February 4, 2010 @ 5:46 am
here is a guide to franchising
http://www.knowledge-wizard.com/business/buying-a-franchise.html