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Franchising – What is it?

Posted by Bob on
Franchising is just like running your own business. You are your own boss and have the freedoms that come with it; however, you use somebody else’s business model. You have the protection of working within a specific framework, proven to succeed. One of the key benefits of franchising is that you don’t have to develop your own business idea or plan how to run the business. You also get a mentor who can support you and teach you how to succeed. The cost of joining a franchise can sometimes be a significant drawback. Some franchisors are willing to offer lower start-up fees and take a royalty payment, so it is...