Franchising is frequently touted as a preferred investment for thousands of entrepreneurs seeking to become business owners, but owning a franchise comes with upsides and downsides, all of which warrant consideration.
The benefits of becoming a franchisee are numerous and, in many cases, self-evident. Buying into a franchise system (especially an established one) can be a safe and fast way to become a business owner, or at least safe and fast compared to starting a business from scratch. A franchisee will also gain the fruits of the franchisor’s experience, including having already made mistakes. Tapping into a brand that has already encountered its share of successes and challenges is instructive for any new business owner.