| json_metadata | "{"app":"Musing","appTags":["franchise"],"appCategory":"franchise","appTitle":"Which is better: a franchise or a business of your own?","appBody":"<p><br></p>\n<p><br></p>\n<p><br></p>\n<p><img src=\"\"/></p>\n<p><br></p>\n<p><img src=\"https://ipfs.busy.org/ipfs/QmVfqJ7La1vhpaznuXj1Y7rzKiUA4DWg3oHEVA9TKrH8Q2\"/></p>\n<p>There are pros and cons for both business models </p>\n<p>Pros for franchise</p>\n<p>You are buying into an established proven business. From day to day running with hands on training and built in systems. A franchise is basically a turnkey business that has brand awareness and can operate profitably from day one.Your customers have most likely tried your product elsewhere before.</p>\n<p>Con's for franchise</p>\n<p>The downside is you have to pay a signing on fee and a monthly fee which could mean sharing your profits. The fees cover costs such as marketing and advertising.</p>\n<p>You don't have the freedom to do your own thing and it takes any form of creativity out of the business. You will not be unique and always limited. There is only so far a franchise can go where as an independent business won't have restrictions and limits.</p>\n<p>There are way more failures with start up businesses compared to franchises. The stats would show the high failure rates out of 100 businesses recorded.</p>\n<p>Start 100 businesses</p>\n<p>YEAR ONE</p>\n<p>25 close down remaining 75</p>\n<p>YEAR FIVE</p>\n<p>38 more close down leaving 37</p>\n<p>YEAR TEN</p>\n<p>14 more close leaving 23</p>\n<p>That tells us just under a quarter of all start ups will survive 10 years.</p>\n<p>This tells us that Franchises are more consistent and a safer bet but who knows you could be part of the 23% that makes it past 10 years and could franchise out your business.</p>\n<p>image source shutterstock.com</p>\n<p><br></p>","appDepth":2,"appParentPermlink":"fk7wmb89x","appParentAuthor":"ss3333","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
|---|
hiveblocks