WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF OWNING A FRANCHISE?
ADVANTAGES
“Owning a franchise allows you to go into business for yourself, but not by yourself.” A franchise provides franchisees with a certain level of independence where they can operate their business. A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish. A franchise increases your chances of business success because you are associating with proven products and methods. Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement. Franchises offer important pre-opening support:
site selection design and construction financing training grand-opening program
Franchises offer ongoing support: training national and regional advertising operating procedures and operational assistance ongoing supervision and management support increased spending power and access to bulk purchasing