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Franchise Versus Independent
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Article 8: Weighing The Differences
Once you understand the relative benefits and liabilities of franchising versus going independent, you can determine which suits you better. A checklist is helpful to weigh your preferences.
You prefer a franchise if you want …
A system already in place with minimal trial and error Possible help with startup financing, and locating and leasing a suitable venue Training in the basics of running the business Help with marketing, legal matters and obtaining supplies and equipment Assurance that a competitor selling the same brand goods or services won’t locate within your neighborhood To capitalize on a pre-existing brand name’s credibility, goodwill and consumer loyalty Assistance opening other franchise shops or locations
You prefer a franchise if you don’t …
Necessarily have hands-on experience in an industry Mind following orders from headquarters Mind following a system, even though you might think it can be improved upon
You prefer going independent if you want …
You prefer going independent if you don’t …
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