Start Your Own Business or Buy a Franchise?
If you plan to be an entrepreneur, you must study what is best for your situation, whether to start a business on your own or buy a franchise. Are you willing to share the profits in exchange for the relative safety of a franchise, or do you prefer the risk—and rewards—of pursuing your own vision?Before everything else, you must decide if you are indeed ready to handle a business. Do not think that buying a franchise is just like buying property and collecting rent. Be prepared to spend a lot of time tending your franchise venture although it will be less taxing than starting from scratch. Make no mistake—a franchise is not a passive investment, it is a business that must be actively nurtured.How do you choose what to do? Take into account the pros and cons listed below to guide yo...