one of the most important advantage of buying the franchise is that entrepreneur does not have to include all the risks associated with the new business. do you agree??
Answers
Answer:
Advantages of buying a franchise
Franchises offer the independence of small business ownership supported by the benefits of a big business network.
You don't necessarily need business experience to run a franchise. Franchisors usually provide the training you need to operate their business model.
Franchises have a higher rate of success than start-up businesses.
You may find it easier to secure finance for a franchise. It may cost less to buy a franchise than start your own business of the same type.
Franchises often have an established reputation and image, proven management and work practices, access to national advertising and ongoing support.
Disadvantages of buying a franchise
Buying a franchise means entering into a formal agreement with your franchisor.
Franchise agreements dictate how you run the business, so there may be little room for creativity.
There are usually restrictions on where you operate, the products you sell and the suppliers you use.
Bad performances by other franchisees may affect your franchise's reputation.
Buying a franchise means ongoing sharing of profit with the franchisor.
Franchisors do not have to renew an agreement at the end of the franchise term.
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