Quick business tip – to buy a franchise or a non-franchise business? Which is best?
That depends on your situation.
Small, entry level franchises are suitable for first time business owners who want to replace their boss and take their financial future into their own hands.
Larger franchises, which are in excess of $200K in purchase price are more suited to established business owners who want to take their returns on investing into a business into a more predictable cashflow scenario with proven high returns to franchisees. In many cases, there are usually opportunities for franchisees to buy into multiple territories and run them as a group once the first one proves to be running smoothly.
Non-franachise businesses are good for people who want all the flexibility of non-reporting, non-conforming, non-ongoing fees models. Of course, there will be no further support from anyone and a benchmark to be compared against to see whether you are truly getting the best out of your efforts. You’re not eve outsourcing key positions either, such as global marketing and some administration
Whichever model suits you, that’s the one to go for and if you are reading this, you are probably ready to do it now. Go for it!
Let me know if you would like assistance in analysing a good fit?
