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Thread: Franchising vs Starting on Your Own

  1. #11
    Bronze Member joshposh's Avatar
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    Default Re: Franchising vs Starting on Your Own

    This is something that has been discussed within my circle of friends as we were interested in franchising a fast food restaurant in our local area. It really depends on the franchise you're looking into acquiring. A big successful chain would almost certainly bring in a lot of money off of the sheer number of visitors everyday. Not a day goes by where I haven't seen people flooding the front doors to buy fast food. If you have the resources to buy into something big and successful, then I would go for it. Even at a small restaurant, I would go for it.

  2. #12
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    Default Re: Franchising vs Starting on Your Own

    If you have zero business experience I would certainly recommend looking into franchising. The problem with it though is the high startup costs and low amount of control. If you have some business experience I would suggest branching off on your own but be aware that it will certainly be tougher to gain the initial traction you need to be successful.

  3. #13
    Diamond Member Corzhens's Avatar
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    Default Re: Franchising vs Starting on Your Own

    This is my experience as part of the market in the food industry. We seldom dine in unknown restaurants unless it is recommended. When we travel, we make it a point to eat in franchise restaurants and fast food only. There were so many times that we were disappointed when dining in unknown restaurants because the taste of the food has no guarantee. So if I would be on the opposite position (as the entrepreneur) I would probably take the plunge with a franchise. The idea is that the franchise already has a captured market that in effect your new business would not really be a newbie when it comes to market. However, a franchise business is not a sure way to success because there are so many cases of franchise outlets that closed shop - one is the small bread store near the gate of village that didn't last for a year in spite of being a franchise outlet.

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    Default Re: Franchising vs Starting on Your Own

    I think a franchise would be kind of a cookie cutter deal, with built in robotics. I may never make a fortune at my little endeavor, but it is mine and it is interesting to me. And figuring it out is part of the fun. If your only concern is making money, then a franchise might be good. But it might be boring, as it would not be your own creation. I place a high value on freedom and I'm willing to struggle more to have it.

  5. #15
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    Default Re: Franchising vs Starting on Your Own

    Another thing I'm considering as an advantage of franchising is it's ability to provide an opportunity for learning when it comes to a new entrepreneur who is still starting to venture into doing business. Things such as inventory, auditing, and overall management of the business are already provided in a franchise so it allows time for the new business owner to learn before finally venturing out on his/her own someday. There's this famous beauty salon franchise which has been running smoothly for years in our town and by the time the franchise contract has expired between the franchiser and franchisee, the latter no longer renewed the contract and started up a beauty salon of hr own applying everything she learned from her previous franchise business.

  6. #16
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    Default Re: Franchising vs Starting on Your Own

    Some franchising is not as expensive as you would think. It often depends heavily on how long the franchising has been going on. Regardless, please don't be mistaken, just because you're buying into a franchise does not mean that it is automatically going to be a success or you're not going to ever go out of business. While name recognition and a proven business model are something you get for your franchising fee, there are no guarantees in business.

  7. #17
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    Default Re: Franchising vs Starting on Your Own

    I'm biased towards starting on your own instead of franchising since I am the kind of person that likes to start everything from zero. But I'm aware It will take longer and business experience is required to ensure some safety in achieving the goals of your own developing franchise. I believe there are not obligatory rules to follow in order to running a successful business franchise, but certainly there are some aspects that you should avoid and usually these only become obvious after building some experience.

  8. #18
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    Default Re: Franchising vs Starting on Your Own

    The decision of whether to franchise or to start your own business may be dependent on the environment and the available opportunities. Frankly, If I am in an area where a franchise like KFC would do well and I was able to obtain the franchise, I would grab the franchise opportunity as opposed to starting my own business because I would be getting a ready-made opportunity with the accompanying goodwill that it comes with, therefore, there is where my interest would be.

  9. #19
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    Default Re: Franchising vs Starting on Your Own

    I believe in taking the build your own route. I know that franchises are easier to get off of the ground, but like you said, it cost more. Some franchises businesses don't even turn a profit for years to come. I don't like knowing that, so I'd rather just build my business from the ground up.

    If I really wanted to assure myself that I will succeed, then before starting my business, I would make sure that I have everything covered so I don't have to worry about problems that might occur in the future.

  10. #20
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    Default Re: Franchising vs Starting on Your Own

    Quote Originally Posted by hades_leae View Post
    I believe in taking the build your own route. I know that franchises are easier to get off of the ground, but like you said, it cost more. Some franchises businesses don't even turn a profit for years to come. I don't like knowing that, so I'd rather just build my business from the ground up.

    If I really wanted to assure myself that I will succeed, then before starting my business, I would make sure that I have everything covered so I don't have to worry about problems that might occur in the future.
    But that's also one of the incentives of starting a franchise as opposed to setting yourself up, and even if the business doesn't turn a profit then you know that you will still get paid and as long as your franchise is turning over some sort of business and the potential to make a profit in the future is there then you will be allowed some leeway and won't be under as much pressure as if the business as your's.

    That isn't a reason to choose a franchise over your own business of course, but if you want a start up with a bit less pressure it's certainly a factor that's worth considering.

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