Other Things to Consider

Picking your business location


Small business bookkeeping tools

Franchise development

Starting a business can be risky and costly so many individuals and investors choose to become franchises due to the proven record. Franchising is the arrangement between the owner of the business (franchisor) and individual (the franchisee) to allow the right to utilize its business process and business name, who then sells the products, services.

Things to consider when thinking of starting a franchise:


  • Training
  • Probability of success/Minimized growth risk
  • Operating benefits:
    • Location feasibility study
    • Marketing assistance
  • Easy expansion capital


  • Loss of independence/Innovation challenges
  • Restrictions on business operations
  • Products sold
  • Hours of operation
  • Franchisor only source of supplies
  • Franchise costs
    • Initial franchise fee
    • Investment cost Royalty payments
    • Advertising cost

Buy an existing business or franchise: https://www.sba.gov/business-guide/plan-your-business/buy-existing-business-or-franchise