Chapter 5 Intro to business

I’m agree when people say that franchising is the wave of the future, that’s I will like to have franchise, but what I really want is to start my own restaurant, not to buy a franchise, then startselling franchises, this is because 1) this way you can make more money having your own restaurant and then start selling franchises for the same community or another close or far communities, you willget the benefits of your own restaurant and then money from the franchises you are selling, the most popular of franchising are restaurants, and that’s maybe because of the easy way to start them.2) But let’s say that yes, I will be interesting in buy a franchise better, because it will be easy to start my own business, I can start it as a sole proprietorship, partnership, or corporation,that’s the best part of franchising, or the thing I most like about franchises. 3) One of the things that can stop me to buy a franchise is the coattail effect, this mean that the action of other franchisecan affect mine, also I can be forced to close my franchise, and doesn’t matter if I got back my investment or not, that could be something really bad for my personal finance.
4) I will be agree tobuy a franchise too because of the assistance you will receive and help to achieve your goals, compared with someone who starts a business from scratch, a franchise usually has much greater chance ofsucceeding because has an established the product to sell ((one of the best thing for me of franchising)), they help you to choose a location, it’s like having your own store but with full timesconsultants when you need them. This is really important because they will help you to grow up and is a benefit for them too to help you. Summarizing I will like better a franchise, as I said the onlything that can stop me to buy a franchise is the coattail effect, anyways the last and important point of buying a franchise better is 5) the lower failure rate, franchise failure rate is long way...