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So you are thinking of starting a business and decided to take a look at the franchising options. There are many advantages and a few disadvantages associated with buying a franchise. It is the aim of this site to provide you with the information to make the decisions on whether to purchase a franchise or not, easier for you.
Advantages of buying a franchise
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Many franchises have a well known name that people already know and trust.
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Getting Finance. Due to a proven business model, banks are very likely to give you financing.
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Support. If you buy a franchise then you are likely to receive great support and training from the franchise provider; they want you to succeed in your business.
Disadvantages of buying a franchises
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If you decide to pull out of the deal you will need to get permission off the franchise owner, who may want to vet any potential owners. You may therefore not get the best price for your business.
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You will not have full control of the business. You may have some great ideas that you are not allowed to implement as it will be against company policy.
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You will pay a percentage of your earnings to the franchiser on top of the cost of buying the franchise in the first place.
Although there are some pros and cons involved with running a franchise, many many people have formed successful businesses through buying a franchise.
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