Purchasing a franchise is a good idea compared to alternatives
If you try comparing a franchise start-up to a non-franchise start up, you will notice the huge margin of difference in their success and failure rates. The non-franchise businesses most of the times result in failure - around 90 per cent of the time. The owners of these businesses are likely to undergo loss with regards to money. Some may even go bankrupt. A major reason behind this failure is inexperience and naïve behaviour. Starting a business from scratch is by no means easy and it is likely that you will make mistakes. Unfortunately, markets usually do not have high-tolerance for newcomers.
There is lower risk involved in buying a franchise. Before buying one, you can get all the necessary information about different franchises and their opportunities. Pick the franchise option that you would enjoy running. Above all it is always best to ally yourself with an already established brand name. This is because the advertising and marketing promotions done by the parent company directly reflect on your franchise too.
By buying into an established franchise, you give yourself a far greater chance of succeeding than starting your own business from scratch.