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Should I invest in a franchise?
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 YES
Buying a franchise is a relatively low-cost way for you to learn
how to run a business, and a good training ground for learning
to operate your own business later. According to the National
Franchise Association, the failure rate for franchise businesses
is less than five per cent. Operating costs are lower (because
supplies are bought in large quantities and the savings passed
on to franchisees), franchises receive plenty of business support,
including advertising, accounting, hiring and training, and the
better-quality franchises help with financing, site selection,
and even construction management.
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 NO
You’re bound by the franchise agreement.
Thus, there is a loss of freedom and flexibility in operating your
business. And, in exchange for the franchisor’s support,
you must pay a fee, a royalty, or a percentage of the gross. And,
despite the franchisor’s support, the success of your franchise
is ultimately dependent on your business skills, determination,
and financial stability. |
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* Adapted from the following sources: New York Times, Wall Street
Journal, ABA Journal, National Law Journal, California Bar Journal,
New York Law Journal, Student Lawyer, JD Jungle, GPSolo.
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