So...What IS a Franchise?

Here is what a franchise really is....

The franchise business is a licensing system by which the owner {franchisor} of a product or a service licenses others {franchisees} to market and sell the product or service within a defined territory, following the guidelines established by the franchisor. Below are a few advantages, followed by some disadvantages.
 

Advantages:

1. Systems already in place to help you get started rapidly

2. You will participate in formal training programs

3. Name recognition/branding

4. Group purchasing power

5. Network of others to learn from that are in the same business

Disadvantages:

1. You do not have total control

2. You must follow all guidelines and rules

3. Ongoing royalties must be paid to franchise company

4. Can only sell or market their products and services

If you are a prospective franchise owner, clearly the advantages of a specific franchise opportunity must win out, for you to go forward with your investment. If not, I suggest walking away. It probably wasn't for you, anyway.