Franchising vs starting a business from scratch
Are you an entrepreneurial soul who wants to buy into a franchise or start their own business from scratch? As financially rewarding as becoming a business owner is, it is important to discover where in the spectrum you fall.
In a previous article titled 3 reasons to consider franchising, we mentioned that you will be entering the market with the support of a tried-and-tested business model that has worked for years. Which means you have a clear roadmap of what to do to succeed in the industry. Why? Because the franchise has already established a reputation and image for itself with proven values.
Starting a business
Starting a business from scratch means you set the tone and direction of the organisation rather than follow it. You will have free reign of what happens within your business. According to Chron.com, starting a business enables you to generate several income streams allowing you the opportunity to make more money than with fixed employment.