Economics Question about business owner

Economics
Tutor: None Selected Time limit: 1 Day

You want to be an entrepreneur and make lots of money. Which business model will you follow: franchise owner or independent business owner, and why?

Please answer this in two paragraphs in 3rd person.

Apr 7th, 2015

     Owning a franchise business is one of the most popular ways to start a business in the United States.  Many people prefer to own a franchise as opposed to becoming an independent business owner because 1.) a successful business model has already been established, 2.) marketing and branding of the business has basically already been done and, and 3.) there is usually guidance available at the corporate level for the new franchise owner.

     Franchise business owners know that the business they are buying into is already successful otherwise they would not have the opportunity of a franchise business in the first place.  The same business has already been successful in many other locations and the business plan has already been tried and true.

     Franchise business owners already have a familiar brand available to them as well as pre-made marketing materials that are ready and available.  The only adjustments needed are the new address, phone number, website and other contact information.  Having this built in marketing saves the new business owner much time and money.

     Finally, franchise business owners usually have support from corporate headquarters and other franchise owners if they need resources and guidance.

     In conclusion, being a franchise owner is a much easier way to become an entrepreneur and make lots of money because most of the work establishing the business and its reputation has already been done. 

     

Apr 7th, 2015

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Apr 7th, 2015
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Apr 7th, 2015
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