2. Franchising
Ongoing support is one of the main reasons why
aspiring entrepreneurs choose to purchase a franchise
rather than start a business from scratch.
Franchises have a higher success rate than start-ups.
To be a successful franchisee, you must have the
knowledge, skills, drive, competitiveness, and attitude
to make it work.
3. Franchising
When operating a franchise, you have to take the same
hands-on approach as if you were building a business
from the ground up.
A franchise is a contractual arrangement in which the
owner of a business concept (the franchisor) gives a
businessperson (the franchisee) the right to own and
operate a business based on that concept.
All franchises fall into one of three categories.
4. Franchising
No matter which type of franchise you choose to
purchase, you will experience several advantages and
disadvantages.
One of the advantages to buying a franchise is
networking.
One of the disadvantages of buying a franchise is loss
of control.
One of the factors to consider when evaluating
franchise opportunities is creditworthiness.
