Thinking of Opening Your Own Business?

Going into business for yourself isn't easy. Going into business by yourself is even harder.

Buying a franchise puts you in the driver's seat of your own business, but gives you several crucial advantages you can't get on your own.

What's the difference between an independent business and a franchise?

independent-business

Independent business

An independent business is exactly what it sounds like—a business that operates on its own, apart from other companies or outside parties. Running an independent business means everything’s up to you. You have the freedom to run things how you see fit, down to the tiniest detail.

But, as any seasoned entrepreneur will tell you, that freedom often comes at a disadvantage to you. The learning curve is much steeper when you’re running your own independent business and there are additional stresses to consider, including time commitment requirements, stress, and the undesirable tasks that will be left up to you to complete.

Franchise business

Brand power

One of the most appealing reasons to buy a franchise is that it can give your business a major brand boost. With a franchise, your future customers already know and love the brand. This makes it much easier to gain traction in your local market, and accelerates your payoff as opposed to having to build brand recognition.

Turnkey experience

By buying a franchise, you are entering into an existing, successful business model to run as your own. Unlike independent businesses, opening a franchise is a turnkey experience. The operating details, marketing plan, advertising campaigns and numerous other aspects of the business are already developed, tested and refined, which takes several hefty challenges off your plate before you start.

Ongoing support

Typically, franchises have a proven track record, a strong training program and ongoing support, which conveniently offsets some of the more noticeable drawbacks to running an independent business. Franchises do come with guidelines that you must follow, meaning decisions on how to run the business aren’t entirely yours. Most franchisees find this actually reduces stress, because the guidelines serve as guard rails.

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**Is buying a franchise better for you?**

There's only one way to know for sure, and that's by exploring the various franchises that are available in your desired market and see if they line up with what you had in mind. You might be surprised by the variety and quality of the business options that are available to you.

Even if you choose not to buy a franchise, exploring these options will give you a better sense of what you'll be competing against when you open your own business. Only you can decide if a franchise is right for you, but before you make that decision, there are a few important questions you need to ask yourself:

Which industry do you want to start your business in?
Where do you want to locate your business?
How much money is it going to take to get your business off the ground?

Obviously, these aren't your only considerations, but they give you the beginnings of a benchmark for comparing franchise possibilities.

Interested in exploring future business opportunities in your City or your State?

Let’s get started by finding out which industries you prefer. Complete an industry ranking quiz so we can more accurately match you with great franchise opportunities in your area.