Franchise buying vs. Independent business
Buying into a franchise has gained a large amount of popularity over the years. There are many reasons for this rise in popularity. One of the main reasons why buying into a franchise has become popular is because of the minimal amount of risk involved. Buying into a franchise reduces the risk factor since you are buying into an institution that has already established itself. This makes more sense than starting a business from the ground up since you cannot be sure as to what the future holds for you. Research shows that the shelf life of a franchise is 90% whereas the shelf life of a start up business is only 20%. The statistics speak for themselves.
Another major advantage of buying into a franchise is that the franchise model makes for larger collaboration and partnership. Unless you are a forward thinking, go getting entrepreneur, it makes perfect sense to buy into a franchise. While running an independent business may provide slightly more freedom, its progress will always be at the back of your mind. Franchises on the other hand have a fixed system of conducting business that has been proven by years of experience.
Thus, buying a franchise will definitely work to your advantage more than starting an independent business. There is a large amount of franchising options to buy from. Depending on your inclination and preferences, you can buy a franchise that will perfectly suit your needs and requirements.