Are you considering buying a franchise? What a smart idea! The advantages of franchising are many, making it an exciting career option. But to paint a clear picture, we’ll cover some disadvantages as well. That will help you look at both sides of franchising in order to come to your own conclusion.

Run Your Own Business

As someone interested in the business world, you’ve probably already operated your own business or at least understand the benefits of working for yourself. To summarize a few of the pros and cons you’ll find when you take this route, here are a few points to consider:

Freedom To Call The Shots

When you’re the top dog in a company, it’s a thrill knowing you have the final say as to how your business is run. Sure, that puts some pressure on you, but for most entrepreneurs, that’s part of the reason they choose this position—they have complete and utter control over operations! The downside to this is that it comes with a great deal of stress and responsibility. It also means there’s no one else to point a finger at when mistakes are made or things go terribly wrong. You’re the one your team will look to in order to make things right.

You Own the Brand

If your business does well, all associated rights and privileges are yours to do with as you please. Whatever marketing plans or proprietary products you produce are exclusively in your hands, assuming you take the necessary steps to legally protect your end product. That can lead to exciting leverage points that you get to take all the credit for.

High Risk

It’s only fair to mention that one in five new businesses fails during the first two years and that 75% never make it to 15 years or beyond. Starting your own company has many related risks. In most cases, failure occurs due to having a faulty concept, a flawed marketing strategy or a lack of sufficient capital to keep the ship afloat. The years it can take to achieve economies of scale and establish a solid brand may be lean and difficult. Make sure you know what you’re up against before taking the leap.

Limited Support

Yes, it’s exciting to be the one in charge—but it can be a lonely role to fill as well. Usually there’s no one to consistently turn to for help because, even in a strong partnership, you don’t have more than your combined experience to draw upon. If you were to outsource any intervention required, it would likely come with a hefty price tag attached. And yet, the right support could end up being an indispensable resource you can’t afford to turn down.

Choose to Franchise Instead

So, what if you’d rather start a new career with an established franchise rather than risk going it alone? Where would that land you? Well, here are the top benefits of franchising that may interest you:

Freedom, within Reason

When you run your own franchise, you’ll be playing by someone else’s rules so you have to respect that there are boundaries within which you operate. That being said, the best franchises out there delegate as much authority to their Franchise Owners as possible. They understand that the entire success of their business depends on their relationship with their Owners, so they would be wise to remain on excellent terms with those who are helping to grow their brand.

Stronger ROI

When you’re a Franchise Owner, you represent a company with a proven track record. That will allow you to see high returns in far less time than you would when running your own business. At most franchise websites, you can learn when the average break even point can be expected after opening for business. While not guaranteed, you can also learn what the average yearly revenue is for existing Franchise Owners to get a feel for what your profits may look like.

Proven Training Model

Even without experience within the franchise’s industry, it’s often possible to qualify as a Franchise Owner once you’ve successfully completed their customized training program. This usually consists of classroom and onsite training at corporate headquarters and will help you launch your franchise with confidence.

Lifetime Support

Franchise Owners are never left to themselves. They have a substantial team upon whom they can rely at every stage of the journey. This team is there to provide ongoing education and training opportunities so your business remains relevant in an ever-changing economy, which has enormous value.

If you’re looking to reduce risk and find security in your new career while recouping investment costs as quickly as possible, there are more advantages of franchising than disadvantages. But don’t just take our word for it! Do your homework and see what you can learn about the opportunity to franchise. Weigh your options carefully so you can make the best decision for your future.