Franchise or independent business? Dream big!
Should I start a franchise or an independent business?
I’m interested in opening up a coffee franchise or a pizza franchise, but I don’t have enough money to buy one. Actually, we are two Egyptians in Cairo, who have five years of experience in marketing and sales.
We are looking to start our business with a booth located in a gas station. Please give us any advice you can offer on where we could find a franchising opportunity that doesn’t require fees in advance. We would be in a position to handle all of the labor costs, equipment, and materials ourselves. Thank you, we appreciate your help.
The realities of buying a franchise versus an independent business
We’re sorry to inform you that every franchise company requires up-front fees for use of their brand name, for initial training, and and setting up your business. This is standard operating procedure in the franchising industry. In your particular case, if you were to purchase a US based franchise, there would also be additional funds required to handle the franchisor’s cost of doing business outside of the United States.
In the scenario as you describe it in your question, you have two main options. One is to continue saving towards your dream and obtain a franchise. Your second option is to study the business very closely and proceed as an independent business owner, using your own name and system.
In either case, you may find it helpful to use our Focus Program for Emerging Entrepreneurs, which is a guided program that can help you discover your true entrepreneurial self. This is invaluable knowledge to have as you press ahead with your business plans.
We are big fans of the franchise industry, but don’t forget that every franchise opportunity began as an independent business!