Infographic- Should I start my own business or should I buy a franchise?

By SirGerardThe1st | Franchise matters | 16 Sep 2020

To launch the own business is the dream of every entrepreneur.

But some of them stop dreaming when they understand the enormous effort in time and money that means to build a business, a concept and a brand from scratch. There are so many things to be done when somebody decides to dive into the pool, and so many risks to be faced, that a very special circumstance in the life of the entrepreneur is necessary for him/her continues with the original plan.

Fortunately, franchising was created especially for those entrepreneurs who are not facing a "favorable circumstance" to launch their own business. The entrepreneur can still remain very much entrepreneur buying and launching one or more franchises, and putting them together into a portfolio that can run in a very profitable way, leveraging all the work done before by one or several successful franchisors.

In the following info-graphic we show the most obvious things we have to take into account when assessing whether to buy a franchise or launch our own business.




The franchisee, being a retailer, is a central figure in any territorial economy.

It is in the retail were the real needs of ordinary people are manifested, provided that common people usually don't even know what they need, and use to solve their problems by approaching a retailer. Often, the job of the franchisee is not recognized, and sometimes it is underestimated.

Many people think that selling is easy!!!

The franchisee works quietly changing the traditions and routines of the territory, setting a new order in the territory's economy, forming part of the system that keeps the territory alive. When a franchisee introduces a new product, a new brand, a new service or a new concept in his/her territory, generates a big change in its economy, changing habits and customs, developing the people's creativity, and being instantly considered as an agent of change and progress.

The people of a city, a neighborhood, a county, greatly depend on the silent activity of franchisees installed in urban and suburban areas.

Neither products nor services will ever reach costumers if trade does not exist. The franchisee of a given district is a key character in the regional economy, and he/she is direct responsible in the development of the community. Ultimately, he/she is a part of the complex mechanism that gives life to the territory.

But not all entrepreneurs can buy a franchise, as I explained in a previous article. A franchise gives the entrepreneur many things resolved, but many times, that is not what the entrepreneur is looking for.

One must be honest with oneself, and choose accordingly.



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Franchise matters
Franchise matters

Reflections of a franchise industry's "Old Wolf", after 30 years in the international franchise business. All opinions are mine, and cover aspects that serve both franchisors and franchisees. Love for brands and entrepreneurs around the world.

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