It’s a tough question if you’ve decided to go into business! Definitely, those who buy a franchise and those who start a business from scratch are brave and ambitious people who dream of more.
But today we’re going to compare these two types of entrepreneurial activities to make it easier for you to decide.
🔹 Initial investment. You can’t say for sure that a franchise is cheaper than a business or vice versa. It all depends on the field of activity, scale and willingness of the owner to work independently.
🔹 Payback. In a business from scratch, you don’t know when you’ll go to 0 and start making your first profit. Yes, it’s all calculable, but the timeline can be very floating. When you buy a franchise, the result is more predictable.
🔹 Business experience. To start your own business, you need to know a lot. Often you have to hire individual experts, study material online, buy consultations. A franchise has marketing lined up, they give you all the materials you need and help. For example, Altairika has a whole knowledge base, there are regular trainings from the best business speakers, and the development department is working at full capacity. We always help our partners to grow.
🔹 Brand awareness. When you open a business, you have to take all the work of promotion and advertising on your own. A franchise is an already advertised chain. And that means that marketing costs are reduced many times over.
🔹 Guarantees. When you open your own business, you’re out on the open sea, where there are millions of dangers. Statistics show that 90% of businesses close in the first year of existence. Altairika’s experience, however, shows that all of our partners conduct business, receive a steady income, and 38% of franchisees expand their geography.
We can’t say unequivocally what’s best — the choice is yours. However, we do know that all of our partners are happy, doing great business and making a profit!
What do you think is better — a franchise or a business from scratch?