Is a franchise opportunity really a good way to start a small business?
I’m a coffee drinker. On weekend mornings I spend over $4 for a venti no whip hazelnut mocha at Starbucks.
I listen to books on tape. For the past two years I’ve had an annual subscription at a Books On Tape store that’s located on my way to and from work.
On occasion, I crave a quarter pounder with cheese, french fries and a coke (or is it pepsi?). I drive through at McDonald’s which is right next door to my health club. (you can smell the fries as you walk through the parking lot to your car after a workout. Talk about exercising self control!)
All of these are franchise businesses. I spend money at these places, so franchising must be a good business opportunity, right? Well, it depends. If you are gifted at following directions, enjoy structure and are great at execution then a franchise business opportunity is for you.
But if you are creative and like to color outside the lines, then forget about it! You’re better off building your own business from scratch.
We’re doing a StartupNation Radio show VERY SOON on franchising that will feature Brian Scudamore of 1-800-GOT-JUNK. Post your questions about franchising here and we’ll make sure we get them answered on the radio.
Better yet, make a great comment about franchising on this blog, and we might even get YOU on the radio!
January 26th, 2006 at 11:17 am
Great topic, Joel! And your right, franchising isn’t for everyone. But for those who are able and willing to follow a proven system, it can be a relatively safe and affordable way to cross the "Bridge to Freedom" to the world of business ownership. I’m happy to see that you’ll be hosting Brian Scudamore of 1-800 Got Junk on your radio program. His entreprenuerial success story is fascinating, and he and his team have created a unique franchise concept, providing opportunities for aspiring business owners to capitalize on this smart model.
Keep up the good work, Joel!
Mark Cory, Franchise Network Detroit