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[m_cel]

Which one do you prefer? Buy a franchise to have a business or create your own concept for your business?

 

[Jolito]

I believe that if everybody can be able to find their way they are actually going to prefer to buy a franchise that is progressing and then build on from there. This is usually not easy to come by because somebody with a successful business will definitely not want to say it. You are also at the risk of buying a business that has fast depreciating equipments.

 

[a_jerobon]

I believe that if everybody can be able to find their way they are actually going to prefer to buy a franchise that is progressing and then build on from there. This is usually not easy to come by because somebody with a successful business will definitely not want to say it. You are also at the risk of buying a business that has fast depreciating equipments.

That is true. It is so hard to find people who are willing to sell their established business which is still earning them great profits. Most people will sell businesses when there is a problem in it. Maybe the products are not in demand anymore or the business is going bankrupt. So when you are buying a franchise, make sure to do further investigation to ensure that it is in great condition.

 

[Juiseth]

There are some things that you will want to consider if you are buying another franchise. This is the quality of the business in the first place and the quality of the equipment's that they are sending to you. If you are satisfied with all that then buying is definitely the best thing to do because they have already caught you the stress of business engagement as well as consultations.

 

[Rookiebecca]

If you have done your analysis about a particular company and you believe that it is going to be interesting and profitable for you to invest then it is a good thing for you to just buy an existing business. I will advise you to run away from this option if that particular industry is something that has not been seeing a lot of profit over the past couple of years.

 

[Shigobad2020]

I believe that if everybody can be able to find their way they are actually going to prefer to buy a franchise that is progressing and then build on from there. This is usually not easy to come by because somebody with a successful business will definitely not want to say it. You are also at the risk of buying a business that has fast depreciating equipments.

The best thing like you said which also I am in support is buying an already established business which will always makes it easy for you to build and empire of business rather than starting with the troubles of starting a business from the scratch sometimes.

 

[Shigobad2020]

If you have done your analysis about a particular company and you believe that it is going to be interesting and profitable for you to invest then it is a good thing for you to just buy an existing business. I will advise you to run away from this option if that particular industry is something that has not been seeing a lot of profit over the past couple of years.

You need to do a good survey and research about the business you are willing to buy to know the current condition of the business , know if its a lucrative business or not , if its in the right location and also if theres anthing you can do to upgrade the business.

 

[Player1]

Buying an already existing franchise would be alot easier and quicker to run your business than starting up a new franchise of your own, but there is also a downside when you buy an already existing franchise.
One major downside to this is that people might not know your business name, they would still tag or associate it the previous franchise. A perfect example about this is the electricity providing company in my state where I live. NEPA was the first to provide electricity, then it was sold to PHCN, now it is currently owned by BEDC. With all these changes, people still call them NEPA, while very few call them PHCN but nobody calls them BEDC.

 

[Wisdom01]

Buying an already existing franchise would be alot easier and quicker to run your business than starting up a new franchise of your own, but there is also a downside when you buy an already existing franchise.
One major downside to this is that people might not know your business name, they would still tag or associate it the previous franchise. A perfect example about this is the electricity providing company in my state where I live. NEPA was the first to provide electricity, then it was sold to PHCN, now it is currently owned by BEDC. With all these changes, people still call them NEPA, while very few call them PHCN but nobody calls them BEDC.

it would take time ,but if you are consistent with offering better service after acquiring the company , people would start knowing your brand name and then you could set your standard that's the thing , starting a business from start is not really an easy job

 

[Skysaint]

If I am in the position to make a decision or choice here I will probably go with the second option. If actually you know you're made for business then you shouldn't be afraid to start up your own idea if business anytime you're willing to.
When you start your own business, as you solve challenges and progress in the business you will start heading to become a professional in the said business.

 

[IB DD]

Buying a franchise insulates you from the unnecessary stress of building a business from scratch. You are stepping into run a business on a brand that has already been promoted enough and gotten a strong brand identity, it would be easier for you to sell than having to start convincing people to patronize a brand that they feel skeptical about. I would surely buy a franchise if I have the option to than venturing to start my own business.

 

[Yugocean]

Frencies are good, but not necessary, but you will not have a brand name if you just start, yet as a startup, you will be able to do all the fresh things on your own, which also means 100% is your problem.

 

[IB DD]

A business that buys franchise and a business that starts it's own business project won't be at the same level in two years. The franchise would make more sales and grow because of the support it has and the sentiments towards buying from a recognized Brand.

 

[Yugocean]

A business that buys franchise and a business that starts it's own business project won't be at the same level in two years. The franchise would make more sales and grow because of the support it has and the sentiments towards buying from a recognized Brand.

I remember a retired gentleman, who started his own brand instead of franchise, and in few years he had to close shop because of low profit. While many frenchise are running since years. However, not all works same, some shops of frenchise were also closed.

 

[IB DD]

I remember a retired gentleman, who started his own brand instead of franchise, and in few years he had to close shop because of low profit. While many frenchise are running since years. However, not all works same, some shops of frenchise were also closed.

Any business can fail if the proper steps and feasibility is not taken. Also if factors don't align in favour of the business. But more often than not, entrepreneurs that can afford to purchase a franchise stand a better chance at succeeding succeeding in business than fresh startups.

 

[freelancermariagrace]

To make the best selection, consider your financial status, expertise in the industry, tolerance for risk, and degree of involvement in the firm. It is also indispensable to thoroughly investigate and assess certain franchise opportunities you are thinking about right now. Speaking with a business mentor can assist you in making a sound choice that is in line with your aims and circumstances. In the end, both strategies can be effective, but what is best for you is determined by your particular situation and tastes. Personally, I'd go for franchising a business. However, I do not have enough funds to do it today.

 

[GoldenLady]

Buying a franchise is the easier choice most times for starting a business, but you should consider the limitations it comes with and if you can successfully work with them.

You also need some knowledge on how to run a business because you will be responsible for that branch of the business. Most franchises that fail do so because of poor management.

 

[Skylark]

Whether to buy a franchise or start your own business is a question that many entrepreneurs ask themselves. There are pros and cons to both options, and the answer depends on the individual's goals, resources, and experience. Franchises can offer a number of advantages, including a proven business model, training and support, and an established brand name.

 

[Wisdom01]

Whether to buy a franchise or start your own business is a question that many entrepreneurs ask themselves. There are pros and cons to both options, and the answer depends on the individual's goals, resources, and experience. Franchises can offer a number of advantages, including a proven business model, training and support, and an established brand name.

i think Some of the drawbacks of franchising include the high upfront costs, ongoing fees, and limited creativity and flexibility in decision-making. On the other hand, independent businesses offer more creative control, lower overhead costs, and potentially higher revenue and profit margins.