Benefits of Franchising:
- Training, Support and Experience. Many franchisees enjoy the idea of not having to "start from scratch" with a new business.
- Established business plan.
- Proven methods and Technology.
- Marketing assistance. Many Franchisors have national campaigns that can benefit local franchisees.
- Recognized brand name.
- Collective purchasing power from vendors.
Benefits of Starting Your Own Business
- No royalty fees.
- Freedom to relocate or sell other items.
- More creativity in how you sell your product.
- Start up costs may be lower.
These are only rough generalities. Not all franchisors provide the experience and training that you might need. Some may micro-manage you to pieces. Also, much may depend on the type of franchise you purchase. Some industries are growing while others are somewhat stagnant. Also, it doesn't help to pick a franchise performing work you will not enjoy. Many franchisees find that it suits them best to pick a franchise based on a personal interest or type of personality. Those who tend to work well on a team find franchising appealing. You work for yourself, but not all by yourself.