One of the main advantages of owning a franchised outlet as opposed to owning your own business is that you get training and on-going support from the corporate franchising company. So, it makes sense that franchisors, both big and small and their associations have touted the mantra; “You are in business for yourself, but not by yourself!”

And if you start shopping for franchises to choose the best franchise business opportunity for sale to fit your needs and desires in owning your own business, then you are sure to see this mantra on a good many franchise company websites.

But, let’s analyze this quote for a minute, because in my not-so-professional opinion this exact phrase is used way too often in franchising. In fact, I myself have used it a time or two and when I advise or consult franchise buyers or even franchisors’ marketing departments, it usually comes up in conversation.

First, let’s see if you are really “in business for yourself?” This could be debated in many franchising companies, because you never actually own the business, rather you are granted the use of the system and brand name during the length of the term as stipulated in the franchise agreement. Of course, you are on the hook for all the costs, and you do have risk and skin in the game, so in that regard, yes, you are in business for yourself.

Second, is the franchisor really there for you, thus, you are not alone? In a good franchising system this is true, there is great training, support and constant upgrades in the business model to increase efficiency and keep you out of potential trouble, the kind of trouble that could kill a normal independent small business.

So, maybe “you are in business for yourself, but not buy yourself.” But, just to be sure, ask the current franchisees of the franchising system if they feel that way now that they have purchased and run their franchised outlet under the franchising company. And be sure to ask before you buy into a franchise business opportunity for sale. Think on this.

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Further Reading
Ad-Visor Shared Direct Mail Products Available as a Franchise Opportunity
Fit Zone signs 70 new locations within first year of franchising
Turning a Small Business Franchise Into Big Business
What Franchisees Should Look For in Books on Franchising
You are a new franchisor. Now what?

This entry was posted on Wednesday, November 26th, 2008 at 11:50 pm and is filed under Franchise Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.