Do you consider having to pay royalties to a franchise a disadvantage of franchise ownership? Every franchise has their own royalty structure, but for the most part, you pay a percentage of your gross profits to the franchise. They in return, will give you that training and support that you require throughout the life of your business.
Some people see paying royalties as a disadvantage, because they think that if they start their business from scratch, then they don't have to share profits with anyone. And while that is true, I see it as an advantage, because you're exchanging a little bit of your profits for a tremendous amount of support.
Another advantage of buying a franchise versus starting from scratch or buying an existing business is that your financing options are greater than in the previous two options. The reason for this is, now the banks have a history of success that they can look back on and know that your business is going to be successful.
If you are interested in franchise ownership or if you want to know more about the advantages and disadvantages of the different paths to business ownership, let's talk.
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