Deciding to bite the bullet and start a business is really only half the first step – the other half is deciding whether you want to go it alone, or purchase a franchise.
While some may feel that becoming a franchisee is a constraint on their newfound freedom of being their own boss, there are some valuable considerations to firstly take into account.
In a new whitepaper published by national bedding and bedroom furniture retailer Bedshed, research is presented which looks at the key reasons business owners opt for one business type over the other.
Bedshed COO, Gavin Culmsee said many prospective business owners struggle with deciding whether to buy an independent business or join a franchise.
Culmsee commented that many business owners believe the most helpful advice is from existing owners who have been there and done it before.
“Some of the key take outs were the importance of considering whether the business will be a job or an investment, what lifestyle benefits will be on offer, and how well suited the prospective owner is from a personality and skills perspective,” he said.
Bedshed also developed an industry first franchise calculator to help prospective franchisees compare the benefits of up to three different models. The full white paper and the Franchise Calculator are available here.