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Wednesday, February 17, 2010

Starting a Business

Starting a business is very risky. Many people think that franchise business has lower risk of failure. When you buy a franchise, you are buying an established concept that has been successful. Statistics show that franchisees stand a much better chance of success than people who start independent businesses. There are critical times in business, when you are new or if you started an independent business concept chances are you wont survive on your first critical situation. Unlike being a franchisee, you are ready for critical times because when you franchise a business you will get a lot of help in starting the business and running it. When you buy a franchise you will get ongoing help on training, management and marketing. Buying a franchise is like buying a business with built-in customers because the name you are buying are mostly nationally recognized.

One of the drawbacks when franchising a business is the start up cost. Franchising just cost a lot of money. I also learned that when you franchise a business, you won't have a real control on the business, you have to follow how the business is run. It is their way or no way.

I really wish I have enough money to franchise a business in the Philippines. I think that franchising a Jollibee or McDonald's will really be profitable.

3 comments:

aMgiNe said...

yeah franchising a mcdonalds or a jollibee outlet is a good biz.

offtopic: care to exchange links? please leave me a line in my blog, thats the only way ill know who agreed. thanks :)

erlyn of bluerlyn.com

Mama Ko said...

Hala mag business ta mamilu, ice candy ug halo halo ky naa na snow daan, hehehe.
Sus kung naa ko daghan money no, mo franchise ko sa mcdonald sa pinas or jolby lol, waaa ambisyosa uroy pobreng inahan lol

Dhemz said...

hahhaha..apil ko sa ice candy ug halo-halo....:)

labay ko dire mami....sau ko matog ron kay mag shopping me ni akesha ugma...awww...window shopping lang diay....lol!

ugma nako mag blog hop...lol!

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