Franchise or Entrepreneurship

                                        
It is an era of entrepreneurship. For inexperienced ones, the franchise is a good choice that is both time-saving and convenient. However, some others think that franchises may have some limitations. 
 
Below are some comparisons between franchise and entrepreneurship:


Costs
 
It is widely known that the main costs for opening a store include store rental, design, refurbishment, equipment expenses and others. Franchise fees and brand fees will be added when investing in franchise stores. 
 
Generally, the costs of the franchise are relatively higher than that of self-employment. Actually, the headquarters will provide a series of support and guidance including location selection, technology training, equipment manufacture and so on. What’s more, professional teams will fully serve the franchisees on various issues.  


Training
 
No matter what kind of industry, systematic training is necessary. For self-employment, a training institution may be in need. Training costs, supply channels and other costs shall be determined by you. While fore brand franchise, which has its own brand awareness and reputation, free technical guidance will be provided by the headquarters, that is really convenient. 
 
Management
 
A brand usually has its own marketing strategies. When investing in a brand franchise, information relevant to the market research, product price, strategies and so on will be provided to help to promote your business. 


Tips for investing in a franchise store:
 
1. Determine a good positioning: it determines the budget, location, refurbishment, inventory and a lot of matters for a store. 
 
2. Select a great location: after determining the positioning, a selection of the store location shall begin. Office buildings, schools, residential areas, shopping malls and so on are all good choices. 


3. Set a reasonable price: it is very important and will have a continuous impact on the store operation. However, it is relatively easy for the franchise, because general design, logo, prices are more acceptable. 
 
4. Focus on the services: the popularity of a store is benefited from the customer flow and loyal consumers. Newcomers are also affected by the old ones.