Franchise vs. Individual business
Owning a Franchise or an individual business are two different endeavors.
Wondering which kind of entrepreneurship, is a best suited for you?
Follow the built-in proven business model roadmap to success or become your own Boss. There are plenty of options available in both of them. Now you can choose your destiny by taking the road less taken. Before you enter a franchise always contact a franchise consultant for risk-free management. In individual business, there is freedom to choose and liberty for product diversification.
|Establish Network||Start From Scratch|
|Stable Investment||No Fixed Investment|
|Earn royalties & fees||No royalties & fees|
|Build-in the target market audience||Local audience|
|Product elasticity||Flexibility & Freedom to choose products, services.|
|Brand Reputation Equals loyalty||Sole proprietors Goodwill Builds loyal customers|
Learn the little-known factors that are affecting your organization, whether individual Business or Franchise.
- Pros & Cons of Individual business.
- Take absolute control over your business with individual business.
- Quick response in the decision-making process.
- Less Government control and taxation implemented.
- Though, all powers of decision when rest on a single individual may cost the organization if taken any wrong decision.
- Liability covers all proprietors’ assets. You are responsible for debts.
- Small business doesn’t have a social media presence or proper marketing plan.
- Pros & Cons of Franchise.
- Easy expansion of Capital.
- Minimized risk.
- Structured Framework for success.
- Heavy Franchise Investment Cost & Less flexibility.
- Falls expectations – Buying popular brand does not give instant success.
- Competitive Nightmares-Similar franchise everywhere.
Selecting between Franchise and Business is like choosing among safety or freedom. Both the options have their own popularity, esteems and drawbacks but, it is essential for Businessmen is to consider all the factors affecting their business values and gaining a profitable market segment. Franchises give the best bang for your bucks. Well, so do individual Businesses, just you need a better willpower and understanding to overcome all those flaws. If you don’t have any previous Business experience, do your homework well.
Perhaps the most sure-shot way to boost profits is to put extreme efforts and right approach to enhance your marketing strategy. Gain confidence, know the correct values before investing, and find an attorney to consult about your Business. Understand the market segment before handed, figure out the key customers, and be honest. Fuel your business growth right now with these practices and you’ll receive remarkable results.