Since ages, it has been a common question among the people who are willing to start their venture. They try to find out which route is right for them. Whether they want to start a business from scratch or invest in the secured International Franchises so that you can have the profit soon. Whatever the choice you may have, it should be backed by your determination, preference, mentality and financial ability.
As per the trend, if you see the history, you can see that around 50% of business start-ups fail to make their mark but only 1% of franchise business does not succeed every year. From this, many people prefer to invest in International Franchises. However, in reality, there are many factors that are responsible to gain success. Check out the factors in the following section:
Let’s talk about the business opportunity!
The business opportunity means you will start to sell any product or service on your own. You need to build up the basics from scratch. If you are not the manufacturer, then you need to contact them, arrange the real estate and then recruit and train the staff. In the business opportunity spectrum, there are many career options that are included in this like distribution ship, dealership, trademark, and license and many others. When the person is entering a business he will be solely responsible for all the trademarks licenses to the quality of product and service. They enjoy their freedom to customize according to their priority which is not available for the International Franchises.
Now, we know about the Franchise!
In the franchise business model, the investor has to invest in a pre-owned and exited company to get the right to use their trademark, logo a license so that he can start their business for a specific location under their flagship. There are three types of franchise available in the market. The first one is product franchise where the franchisors allow you to sell their products under their brand name. The second one is the manufacturing unit in which they manufacture the products and sell them under their brand name. It is the most common format for the International Franchises. The third one is a business format which is the most popular among all. In this franchise, the franchisees have to follow the predetermined method for conducting the business.