All Entrepreneurs Are Not In The Same Game
There are different types of things in all categories.
Are Franchisees Entrepreneurs?
This question is debated often, but we see a clear answer. First and foremost, YES, franchisees are entrepreneurs. They are simply a ’type’ of entrepreneur. Just as there are different types of sports, trees, homes and automobiles, there are different types of entrepreneurs. Somewhere in the 1990’s the term ‘entrepreneur’ became associated with hi-tech start-ups and higher levels of investment and technology. And yes, people initiating businesses in those areas are certainly entrepreneurs. But so is the restaurateur, the printer, the shoemaker, and all people who start a business.
Entrepreneur by Definition
The word ‘entrepreneur’ is derived from the French ‘entreprendre’, which translates ‘to undertake’. So, in its most basic form, any business start-up is an undertaking; an entrepreneurial effort. Are there different levels of effort, investment, independence and risk? Of course, and those elements would vary not only among the types of businesses chosen, but among the various individuals taking those risks.
We’ve created a wonderful system that among other things, deals with various types of entrepreneurs, The Focus Program for Emerging Entrepreneurs. This self-study process, among other things, helps people decide which, if any, business might be an appropriate choice. Also a section of the Focus Program is an excellent presentation on franchising, how it works, and most importantly, how to analyze and dig out the truth about any franchise.
Good luck going forward. If you need help regarding franchise selection or professional franchise due diligence, contact us. We’ll be glad to help.