What are the advantages and disadvantages of a franchise model?
I looked carefully at all of the advantages and disadvantages when I was considering whether to franchise or not. The main advantages of a franchise are that it: · allows you to grow the business faster, using other people’s capital; and · it enables you to expand into geographically difficult or regional areas that you may not have been able to manage yourself. The main disadvantages of a franchise model are: · that the franchisees may not respect the business and operate it in the way that you expect; · it can be difficult to rectify or make changes within the business model because you need to retrain all of your franchisees; · and that franchisees may not do things according to the established system, which means that the processes and product will begin to differ between franchises, which can weaken the brand and may challenge customer expectations. Have there ever been any times when you wanted to give up? There have never been times when I wanted to completely give up, but there
