It is a fact that franchising is the safest way to develop and expand any business. However, it is also true that franchising is not for everyone. Each franchise opportunity may have different requisites from its franchisees.
Whether one takes a franchise of any QSR or retail or service franchise, depends entirely if one’s personality is fit for being a franchisee. Being an entrepreneur is quite different from being a franchisee.
Many investors invest in a franchise just to wear the entrepreneurial hat. For any potential franchisee, its significant to understand that all entrepreneurs can’t be franchisees. In a franchise relationship, all the rules and regulations of running the business have already been laid down by the franchisor. All that a franchisee needs to do is follow them without making alterations. On the other hand in one’s own business, one need to start from scratch, there are no processes of an already successful business. So if you want to be the boss and run a business in your way then maybe being a franchisee is not your way.
It’s true that franchisees are required to put in tremendous effort to launch their business and must work extremely hard at their capacity. However, simply hard work does not guarantee success in the franchising business. There are certain other traits, which must be present within a person for them to consider becoming a franchisee.
This story is from the December 2022 - January 2023 edition of The Franchising World.
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This story is from the December 2022 - January 2023 edition of The Franchising World.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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