If you’re setting your sights on being your own boss and running a business, you’re no doubt grappling with the decision between buying into a franchise or your own start-up business.
It’s tricky business either way, but there are ways to make each path enjoyable and profitable. Similarly, there are advantages that come with each — hence, the dilemma you find yourself in.
Admosis has established its niche in franchise marketing and has helped future business owners with the decision between franchise or start-up. So, we’ve compiled this list of reasons for each.
Theoretically (and frustratingly), there is no correct pathway — only one that’s right for you, your situation and your aspirations.
To discover which sounds better to you, read on and reach out to Admosis to discuss how your marketing efforts might look from either side of the fence.
Advantages of a Franchise
We’ll start by saying that the greatest advantage to becoming a franchisee is that you’re joining an established business. The hard work involved with starting a business and cementing its brand into the public domain has been done. You (you savvy businessperson) are simply jumping on that success.
That’s not to say that becoming a franchisee is simple or opportunistic — okay, it’s a little bit opportunistic, but who’s to say that’s a bad thing?
Basically, joining an established business comes with its own host of advantages, so here they are:
A steady paycheck is more assured when you join a franchise, courtesy of the steady sales already trickling through the business. You’ll find it harder to have a tragically poor month, so long as you stick with the prescribed marketing material and embrace the values of the company.
Funding and support should continue to flow from higher up in the business, assuming you don’t give head office any reason to cut you off. Make sure to lean on this slightly and take any advantage you can gain in establishing your own value to the business. Help them help you!
Solid supply chains come at a premium in this post-COVID world, so that certainly can’t be taken for granted when you join a franchise. The established supply lines that will keep your shelves stocked and store busy are a luxury that not every business owner has enjoyed of late.
An exit plan should always be considered when starting any business endeavour and franchises make this far easier than start-ups. If you’re unhappy in the new role, you should have little trouble in handing your piece of the pie to the next hungry entrepreneur.
Advantages of a Start-Up
On the other hand, perhaps you prefer a bit of risk for your reward. Maybe you’re an excited, young entrepreneur who has a burning passion to try the start-up life at least once — why die wondering, right?
In that case, welcome aboard, intrepid adventurer. Whatever your brand-new idea is, we sure hope that it does well and that you can enjoy the advantages of building a start-up from scratch. If you end up being the next Zuckerberg or Jobs, don’t forget who your first marketing partner was, alright? (It’s us!)
More creative freedom has to be one of the biggest drawcards of the start-up world. You can shape and mould your new business into anything you like. Naturally, this comes with all the highs and lows of business ownership, but doesn’t it feel good to know your risky idea has paid off?
Start-ups are typically less expensive to, well, start up. This isn’t always the case but even if the start-up is more expensive, you then get more flexibility to spend your cashflow where you choose. Whether that’s on marketing, research and development, or your own salary is up to you.
Being your own boss sounds pretty sweet, right? If you’ve ever thought about trying a start-up, this thought has probably crossed your mind. You get flexible hours, set your own pay, hire people you actually like, and no one telling you what to do all day. That’s not to say business ownership isn’t difficult, but it certainly suits a certain type of person.
So, Which Is It?
As we said, there’s no correct answer and unfortunately, we can’t tell you what to do. All we can do is tell you the facts and allow you to make the executive decision. After all, isn’t that what you were made for?
Whichever way you go, give Admosis a call to help with all your digital marketing needs. We specialise in hyperlocal SEO, social media, performance analysis, branding and design.
We’re sure to fill a need in your new business — franchise or otherwise.
