Independent Startup v. Franchise Opportunity

Which is Right For You?

today we’re going to talk about some of the differences between starting your own independent business versus investing in a proven franchise model there’s all kinds of pros and cons on both sides it’s important that before you make a decision on which way you’re going to go you weigh all the pros and cons so that you know you’re getting into the best fit for you so let’s talk first of all a little bit about the business model uh are you creative do you have great ideas are you entrepreneurial in spirit all that is wonderful can you parlay that into creating a business model that you know works because the difference between doing it yourself and doing it with a good franchise organization is a good franchise is going to give you a proven model something that they know works because they’ve done it over and over and over again and they’ve literally ironed out the kinks are you a marketing expert can you create print ads can you create brochures can you create web videos can you create commercials radio tv all that kind of stuff if you can fabulous if not if you enter into your own business just go out and hire somebody be prepared to pay though if you enter into a franchise organization the advantage you have there is they’re big they’ve got that covered they create all that material on your behalf it’s tested it works and all you have to do is take it and apply it to your own market there’s training there’s training for you and there’s training for your employees you can create it yourself maybe you’re really good at that maybe you think you can do a great job and maybe you can however a good franchise organization is always going to give you the training you need for you and your employees to make your business successful what about support for your business this is a big one a franchise organization will always have a complete department at the home office that is there to support you and your business your employees to help you be successful can you figure it out yourself yeah you probably can my question is how long is it going to take you to do that and how much money is it going to cost you to get it right so let’s talk a little bit about exiting the business now i know it’s funny because you haven’t even got in yet but if you’re really thinking this through properly you have to think about the time when it comes to exit the business nobody stays in a business forever when it’s time to exit do you want to be part of a known valuable brand so that your business is worth more money or are you just willing to risk that you’ve created enough brand equity in your own brand to make it worth as much as it would as a franchise here’s my question frank’s donut shop or dunkin donuts the choice is yours