Would you recommend opening a franchise?

Question

if i already work for an organisation that sells franchises would it be a good idea to stay with that organistion through a managment postition and then eventually buy my own frachise ( i would already have experience and know how to manage my franchise then). im only 17 and considering possible career options.

Answer 1

Anytime you have an opportunity to open your own business, it's certainly worth considering. But before proceeding, there are some issues that you need to study.

The most important is whether the business you want to open can be supported by the community where you want to open it. For example, a Subway can work in almost any community because they don't require a large space and the product is generally affordable and desirable to most everyone one. One the other hand, Quiznos targets a bit more upscale consumer and may not work in smaller towns or in places with low foot traffic.

Another major issue to consider is the franchise fees and related costs. As well as any incentives the corporation might offer to help establish the franchise.

And it might also be a good idea to talk to other franchise owners and find out their experience dealing with the corporation.

Lastly, you should weigh the options as to whether you're better off to start a franchise or your own brand. With a franchise you have instant name recognition and easy access to marketing on major networks. But you also lose a good deal of autonomy.  When it's your own business, you're free to offer whatever goods and services you think you can sell, but with a franchise you're often limited to whatever products and/or services they sell.