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Wow, how high is high?
In today’s world there are nearly 3,500 franchises to choose from, and they range from $10,000 home based services businesses to exotic retail or food establishments costing in the millions of dollars.
I have discussed ‘franchise due diligence’ often in this forum, and obviously, the cost of the opportunity is a major factor. Although, as a franchise consultant, I am obviously favorable toward franchising (if the system has a proven track record of success), but I also argue for independent start-ups when budgets don’t allow for the total initial investment required by a franchisor. If a person has a burning desire to enter a particular field of business, then that desire often leads to enough investigation and study to ‘begin’ that business in a simpler, more affordable version as an independent. My favorite example is the person without enough assets to acquire a sandwich franchise, but with enough nerve to get started with a vending cart selling their own creations.
Franchising is just one of many options available under the umbrella of ‘entrepreneurship’.