Franchising V/S Traditional Business
When you plan to start a business it is definitely going to be one of the major decisions of your life. So it is important that you think about every pros and cons of starting a business before venturing into one. One path is to start your own business. Another is to choose the franchising model and buy into a proven system with a known brand name. Each path has its own merits and demerits. Today we will help you in choosing the right one. Keep these steps in mind while you are in the thinking mode.
If you walk into any of McDonald’s or Jawed Habib around the world, you’re guaranteed you will get the same treatment. That’s the franchise proposition of uniformity and replicability.
When you start your own business, you’re the boss and you control things. With a franchise business, you sign an agreement to follow the rules laid out by the franchisor.
If you start your own business, you’re on your own when it comes to marketing and advertising. If you’re a Pizza Hut or a Monsoon Salon & Spa franchisee, you have the power of the brand’s national and regional marketing and advertising behind you.
When you start your own business it will definitely take time to build a client base and local reputation. When you advertise a known brand name in your new market, customers come ready-made and cash starts flowing faster.
In today’s era on competition, setting up your coffee or beauty business on the wrong side of the street can severely hurt sales. However, a franchisor is the market expert and he can guide you in a better way.