What are the differences between independent business ownership and franchising? Learn which option fits your preferences and needs as a business owner.
Launching any business takes time, money and effort. With independent business ownership, you’re toughing it out alone. But if you join a franchise system like Allegra, you’ll be backed by a trusted brand, a proven business model and franchise support.
In either case, there are risks and rewards. Do you understand the franchise advantages and disadvantages? Do you know what you get — and what you give up — with an independent business? Here’s a quick review.
Independent business ownership
Here’s what you get with an independently owned business:
- The freedom to make your own decisions, where success or failure rests solely on your shoulders.
- Control. You’ll take on all the risk, but you’ll take in all the rewards. You can choose your own coworkers. And you don’t have to work weekends or holidays if you don’t want to.
- Self-satisfaction. If you succeed, you’ll feel a lot of pride in your accomplishment. Not everyone has the discipline to be an entrepreneur.
Here’s what you’ll miss out on:
- The how-to manuals. The ones that explain daily operations. And marketing. And personnel. You’ll have to write them yourself.
- A proven business concept and operating model.
- Your time. A new business is 24/7; it never sleeps. The buck starts here and stops here.
The ease with which to borrow money, someone experienced to help solve problems and the buying power of a larger company.
Franchise Ownership
Here’s what you’ll get as a Franchise Owner:
- An established concept and trusted brand name.
- Pre-opening training and ongoing IT, marketing, product development and sales support from experienced professionals committed to your success.
- A work/life balance where you set your own schedule.
- When you’re ready, the opportunity to determine your own exit strategy.
Here’s what you’ll miss out on:
- All the responsibility. The brand name, ramp-up training and ongoing marketing and other franchise support requires you to remit a portion of your gross sales to the franchisor in the form of a royalty.
- The opportunity to re-invent the wheel. You’ll have to follow a proven system.
- That solo bow. When you’re successful and Franchise Times calls to put you on the magazine’s cover, you may just have to share the spotlight with your Allegra Franchise family!
Of course, we’re a little biased when it comes to franchising vs. independent business ownership. If you’d like to learn more about the opportunities with Allegra, we’d love to chat. Just fill out the form on this page to start a conversation.