Module 1 - Introduction to franchising, is franchising for you?

Self -assessment question for Module 1 (Lesson one)

This self help question is for your own benefit and does not contribute to the final pass of the complete course.

Question:

Why should a prospective business owner be more successful owning a franchise rather than operating his own independent business ?

Suggested answer:-

Provided the new Franchise owner has researched his chosen franchise as we emphasise on this course, raised all the key questions, evaluated the answers, sought professional advice and made his best choice according to his resources; then he can expect success.
His Franchisor will have tested the Franchise’s operational function in his pilot runs, so the product or service should sell well. An independent owner will have to start from scratch. As a new franchise owner you will benefit from the start, sales will it generate from the brand’s recognition, you will be glad of the Franchisor’s continuing support, his marketing campaigns, new product development, block purchasing arrangements, all of which will not be readily available to a new start-up business. Remember also the Franchisor has probably made mistakes in production, in sales, in delivery; he has had to make the necessary corrections, a new Franchise owner can only benefit. Whereas an independent operator maybe faced with these sorts of expensive situations, as he tries to get his business up and running.