That's quite a difficult dilema. I say a lot depends on your
personality. For many people, having a system to go by is necessary to
the success of their business. For me, I couldn't stand having someone
telling what to do all the time. Being a franchisee means following
their standards and demands exclusively, at the risk of losing your
franchise. Losing your franchise usually means all the equipment,
signage, and sometimes property, while you still hold the mortgage to
it all. Franchisors can demand that you upfit your entire property,
potentially costing tens of thousands of dollars.
However, with your own business, everything is up to you. You don't
have a recognizable brand, you don't have marketing support, you don't
have national buying power and many other concerns that wearing every
hat in your own business demands.
If considering a franchise, do a tremendous amount of research, and
make sure you have deep pockets to keep up with their demands. Most
importantly, read your franchise agreement very carefully. Don't let
the excitement and emotion of owning your own business cloud the
business decision you must make. Your future will ride on the right
decision.
--
ChefToddMohr
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