Positives and Negatives of Owning a Franchise, Essays (high school) of Business

Download Positives and Negatives of Owning a Franchise and more Essays (high school) Business in PDF only on Docsity! Positives and Negatives of Owning a Franchise As an aspiring entrepreneur, I understand how risky it is to start your own business. That is why I considered buying a franchise. Do I believe it is a smart business decision? Yes. Here's my take on why owning a franchise is a smart business decision. First, let me discuss to you some of the advantages or positive side of owning a franchise. If you want a lower risk in starting a business then own a franchise but make sure that it is a well-established business because they already have established customers. Franchise business will ensure that you make the profit you desire while minimizing risk and making your life as a business owner easier. McDonald's and other fast food restaurants, for example, have franchise stores. Imagine owning one franchise of it; you don't need to look for customers or think of ways for people to recognize your business because they are established corporations. Now, let’s see the negative sides of owning a franchise. The most difficult aspect of owning a franchise aside from the initial cost of the franchise you are going to select, will be the restrictions/regulations that must be followed. If you truly want to be your own boss, avoid purchasing a franchise. You do not have complete control over the pricing, products, marketing, and other aspects of your franchise business. So, if you want to make changes, you won't be able to do so easily. That's my take on owning a franchise. Everything has advantages and disadvantages; all you have to do is weigh what is most important to you.