I have mixed feelings about the idea of both buying and selling business franchises.
From the franchisee's perspective:
- I understand that buying a good franchise has higher success rates than starting a business from scratch. I'm not sure how robust the statistics are to really strong due diligence but there is a logic to taking a proven system that works in one region and applying it in another.
- I don't understand how a business owner who wants to be free to do his or her own things could follow the strict rules involved with a franchise and sacrifice the joys of creating something unique. In some ways I see a franchisee as a middle manager who has sacrificed the certainty of a salary for the uncertainty of self employment.
From the franchisor's perspective:
- Selling franchises appears to be an easy way to make a lot of money with little effort once the franchising system has been created.
- But the risks of losing control over the quality linked to the brand name can be high and unsuccessful franchisees can tarnish the image of the franchisor.
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