To franchise OR to gamble on own business idea?

Would you rather franchise a proven profitable business about which you are not passionate about OR gamble on your passion that may not be as profible?

Hi MOM....

Seems like a simple question, yes.? NO! I have done both. Franchises are usually more expensive but the payoff is more certain. They will normally do a lot of the work at the beginning. Market research. Location information. A proven business plan. A million little details of starting a business that will not occur to you.

My opinion is, your passion is a good thing, but your passion can lead you down a primrose path. This is not to say your idea will not work. The positives, however are more subtle and the negatives may be very nasty. MAY!

A comment I always took to heart, " Good business is boring. You do not want to bounce from crisis to crisis, especially if there is no large company behind you to offer advice and direction.". Remember that no problem can occur for you that the franchisee has not seen and solved a thousand times.

Long answer, huh? One other point. If you come across a franchise that interests you....INVESTIGATE. Ask questions. Interview them! If it feels squishy in any way.....BAIL!!

Hope this helped.

don

If you know you have what it takes, why bother paying a big corporation to use their name when you'll still be doing all the work?

Yes you won't start off with the same brand recognition, but there is so much more potential in starting your own business rather than franchising.

it depends on how good your own idea is and if its capable of making money in real world

I say go with the passion. To me it would be worth more than the difference in money. You would be more apt to finding ways to improve and build your business if you are passionate about it. I think that in the long run you could surpass the profits of the franchise option if you are truly passionate. Being fully passionate makes you non-negotiable and unstoppable. You need to spend time evaluating your passion and learning/researching ways to target your market. I enjoy hearing/meeting people who are passionate about what they do. I am rooting for you all the way.

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