What are the advantages and disavantages opening your own business instead of a buying a franchise?
Graduate Assistant says: Advantages of Buying A Franchise 1) Lower Failure Rate – When you purchase a franchise, you are buying an established concept that has been successful. Statistics show that franchisees stand a much superior chance of success than people who begin independent businesses; independent businesses stand a 70 to 80 percent chance of NOT surviving the first few critical years while franchisees have an 80 percent chance of surviving (Michael M. Coltman, Franchising in Canada: Pros and Cons, Self-Coursel Press). 2) Help with Begin Up and Beyond – You get a lot of help starting your business and running it afterwards. Many franchises are, in fact, turnkey operations. When you purchase a franchise, you get all the equipment, supplies and instruction or training needed to begin the business. In many cases, you also get ongoing training, and help with management and marketing. Your franchise will reap the benefit of the parent company’s national marketing campagns, for inst
