Advantages of a Franchise - Buying a Franchise Versus an Independent Business Start-up

By Andre Chernih

The main advantage of buying a franchise is the reduced risk of failure. When thinking about starting a business, entrepreneurs always seems to compare buying a franchise to and independent start-up. That is a mistake.

Depending on which study is being quoted, and which time frame is being analyzed, the numbers are staggering in favor of Franchising. The numbers show more than a 90% survival rate after five years for Franchisees versus in the range of 20% for stand-alone start-ups.

As you can see, comparing franchising to and independent business is like comparing apples to oranges. Unless you are furiously independent and self-confident entrepreneur and have a unique idea which consumes your life or have an abundant expertise in a specific area, franchising is always a safer way to go.

The key to the success of the franchise model is the support and collaboration of the proven system. Business is always about building a system and franchising offers the most efficient way of delivering business systems to anyone who wants to be in business for him (her) self.

If a candidate talks to ten franchise companies they will hear a saying being repeated that in franchising “you are in business for yourself without being by yourself.” The saying, and franchising in general, provides a sort of comfort level not available to an independent entrepreneur.

Being independent may provide a great degree of freedom, but may also provide a share of confusion, second guessing, increased costs and a feeling of going alone against the world.

In the end, I would never discourage anyone form starting an independent business. At one point in time, I was faced with that decision myself and realize that each person has their own set of circumstances that come in play. However, I would discourage anyone from simply comparing franchising to starting an independent business. Comparing different franchises to each other is another story.

If you decide to embark on the process of buying a franchise, or simply have some general questions, please do not hesitate to contact Andre Chernih, Top Franchise Consulting at andre@findtopfranchise.com

Andre Chernih, Top Franchise Consulting http://selectfranchiselist.com or 866.577.9224

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