New Independent Business or Franchisee?

You have made up your mind to start your own business with your accumulated funds, identified market and also decided on what to sell. Shall you start your own business or join hands with an established franchise?

Your decision depends upon few factors such as the capital you can invest, goals as well as your personality. The decision also relies on whether you consider yourself an entrepreneur or a business individual.

Let’s get acquainted with the pros and cons of each one of it.

Start your own venture

If you aim to start your own venture from scratch then it will be full of challenges and prospective rewarding things which you can do.If you have thoroughly researched and found out a concept which is unique then starting your own venture will be best for you.

The best part of owning your own venture is that you are the boss. You will be making the decisions and will be getting the credits for them as well. It can be way around as well, where you may be stuck and have to face all the clients’ tantrums. Some days will be worse when you will regret that why you took this step in your life. Days will be long, work load will be more and you will end up being frustrated.

If you keep yourself motivated and can face the ups and downs in your venture then nothing can be in parity to see your own business flourish. You can implement your thoughts, ideas, and philosophies in your business. It’s noted that best entrepreneurs build up legacies which last for decades.

Own a Franchise

Franchise is available with a built in support system. You can select the brand which is tested and all the expenses are incurred which occurs in the initial phase of any new business to be established.

Franchise opportunities are offered with marketing and advertising support. The reason why various entrepreneurs fail to run their business successfully is faulty marketing & advertising campaigns. You will be assisted in hiring process, location and will be guided how to run the business with best principles which ensures its success. Franchises are reliable but impersonal.

Every coin has two faces, so franchise also possesses certain downsides. It possesses huge initial costs. You have to pay ongoing fees, be limited to certain places from where you can buy the supplies and follow the set rules and regulations.

If you desire to become your own boss, then franchise is not your cup of tea. Franchise lacks flexibility and creativity. Once you are buying the franchise you pay for the brand as well as customer expectations.

Entrepreneur or Venture Owner?

If you are inheriting or buying a business, it doesn’t make you an entrepreneur. The entrepreneur is the person who successfully implements his ideas, thoughts in his venture and enjoys its counterparts. The process of the entrepreneurship can be frustrating but the art to overcome the obstacles is the art which differentiates the entrepreneur from the small business owners. Most of the entrepreneurs are venture owners but all the business owners are never entrepreneurs.

Whether you like to buy a roll or make your own recipe.Both of the products can be delicious but the surety of success and personal satisfaction can vary. This example can work as the deciding factor of the fact whether you desire to become your own boss or own a franchise.

Contact us:

Email: info@franolaxy.com

Phone: +916207902001

https://www.franolaxy.com/

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