I was browsing through the September issue of the Entrepreneur Magazine and it featured articles of business ventures ranging from joining a bazaar, franchising a food cart to owning a store or restaurant. What captured my interest are the advertisements for franchising food carts like the Hong Kong Noodles, Siomai House and the like. Franchising I suppose is easier than building up your own business. Well for one you need enough capital and the experience and thrill of taking risks in putting up your own business. Franchising on the other hand is quite easier since you can start up with smaller capital and the company would be guiding you or even training you for your franchise to sell well or succeed. Although the return would be small compared to having a real store, at least I'm safe and confident that when worse comes to worse, I will only lose upto a certain point. However the only problem is that I do not know where to get enough capital although I think loaning from my parents is the only alternative. And as soon as I have raised enough money, I'll pay them back. When you come to think of it, this experience would teach me how to become responsible and independent as well. This will help me earn my own money and with this I wouldn't be asking for my parents money as much as I am now.
12 comments:
Franchising is less risky as compared to trying to start your own business. The best option for you is to look for some food cart business that is already established in the industry. People will want to go with the "trusted" brands. Why do you think Safeguard sells so much even though there are plenty of new soap brands on the market? It's because people trust that brand. Try and look for something that has been around for a while and franchise.
hey gizelle, yes I agree franchising is indeed less risky as compared to starting your own business.. I think when making that certain decision it's up to people to consider their strengths and preferences when entering the business world for the first time. Some may choose to franchise and some may immediately dive into making their own brand. But are franchises more expensive than starting your own business? i guess that depends also right? something to consider.. just a curious question :P
Franchising is a good way to generate income for yourself but of course, you should be patient at the onset. All it takes is patience and hard work for franchising to give a smile on your face. good luck!
well gly, franchising might be a good thing to start a business, since like you said you wouldn't really need that big of a capital, though i think you also need someone as a partner so that at least the capital would be half half. Well to be honest, though I'm not yet an expert in making a business, i think it's still depends on what business you want to be engaged in because i think there are small businesses that doesn't really require big capital...so maybe look for something that you, yourself is sure that you'll not only be able to handle it but at the same you'll be able to afford it..^_^
I always thought that franchising is way better than having to build your own business. I agree with what you've pointed out about just losing to a certain point when your business wouldn't click in the market. At least you'd still have something left for your new venture.
Two Thumbs UP. Hello Gizelle. First of all if this was a contest in making blogs,which you and that showcohn08 guy were the only contestants you'd win hands down.
To more serious matters, franchising ,in a way, is lesser work load to you since, as you said, the company would guide you. But isn't it that all franchises are not stable and those who are stable cost more to franchise? Well, what i'm trying to say is, you would still need a big capital to have the assurance of an earning business. Moreover, franchising requires you to have the money in the first place, which not all of us have.
I really thick franchising is a more expensive than building your own business. And about losing only to a certain point is not true. if the business will be a sole proprietorship or general partnership, your losses will not be confined to your original capital.
our family one thought of franchising as another source of income however we also do not have enough funds to start franchising. frnachising is very helpful to entrepreneurs who are still starting. it will be a good taining ground for them for their future businesses.
our family one thought of franchising as another source of income however we also do not have enough funds to start franchising. frnachising is very helpful to entrepreneurs who are still starting. it will be a good taining ground for them for their future businesses.
you are right, but it is still expensive to have a franchise specially the big ones.
we still need to study the location to have a good income
franchising, though less of a hassle than putting up your own business may not have the best rewards financially compared to your own. you said it right that the most valuable thing here is EXPERIENCE. this may just be a stepping stone to greater business opportunities in the future.
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