
I have thought of this for a long time. Just like you said, franchising is not free. You pay to use the brands name in addition to starting a business. I have read many calls for this but they say you need such amount of capital which sometimes is higher than when you started an own business. Best with franchise you use a known brand already. Marketing is less.Fergal wrote:There are usually higher start up fees when starting a franchise business, because you have to pay the franchise fee in additional to the normal start-up costs. However, I have read that the success rates for franchise businesses are greater, because you have the support of the franchise and hopefully a proven system.
Do you have something in particular in mind kat82?
Franchising looks to have more advantage than staring your own Business. If you have money franchising will grown you faster in riches.Angie10 wrote:I'm not very well-informed on this topic. But if I had a very healthy bank account, I'd definitely be looking into one of the most popular franchises ahead of starting my own company because of all the support and existent brand loyalty in place. -One that I'm confident would make it in Botswana such as clothing brands H&M, Primark, Mango, Zara, TK Maxx etc because we don't really have international brands here. I actually once tested the water with TK Maxx, and the company was very receptive. Except of course, I have zilch money and couldn't take my enquiry any further
kat82 wrote:Buying a franchise gives you a known brand but less freedom. Do you think franchising is better than building your own?
Well put. Both franchising and starting from scratch makes entrepreneurs learn real lessons. It all depends on whether you want the safety of a system via already known brands, or the freedom to create your own path by starting from scratch. Either way, growth comes from learning and persistence.germainebull wrote:Franchising brings the security of a name and a ready-made system, which reduces the risk for the entrepreneur. However, starting your own business brings the freedom to be creative and build your brand. Each path has its challenges and benefits. The key is to assess yourself, understand your goals, and choose the path that aligns with your dreams. Entrepreneurship is a learning journey.
kat82 wrote:Well put. Both franchising and starting from scratch makes entrepreneurs learn real lessons. It all depends on whether you want the safety of a system via already known brands, or the freedom to create your own path by starting from scratch. Either way, growth comes from learning and persistence.
Franchising offers the advantage of an established brand and support, but it often comes with limitations on creativity and decision-making. Ultimately, the choice between franchising and building your own business depends on your goals, risk tolerance, and desire for independence.kat82 wrote:Buying a franchise gives you a known brand but less freedom. Do you think franchising is better than building your own?
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