Franchise or Independent Business? Make the Right Choice

Posted: March 22, 2016

Life in the corporate world is great for a lot of people. It provides a certain sense of security, and those who operate within its confines can always rely on a steady paycheck. But for many individuals, working as an employee of a corporation leaves them wanting more from their professional lives. They want more control, and they desire the ability to make important decisions. For some, this drives the choice to leave the corporate world and start businesses of their own. Are you one of these driven individuals? If so, you might be mulling the choice between a career as a franchisee — possibly in the growing senior care industry — and existence as an independent small business owner.

So, what’s the right choice?

Now Is A Great Time to Act

Regardless of what you decide to do with your career, now is the perfect time to act on your desire to experience life as a business owner. The economy is beginning to take off again after years of stagnancy, and people are willing to take more risks, which is conducive to a healthy business climate.

Entrepreneurial life can provide benefits that people who remain in the corporate realm can only dream about. But it requires hard work, tremendous personal investment, dedication and sacrifice. That means that if you’re ready to leave corporate life, you better have a plan!

Franchise or Independent — What’s Best for You?

This is a tough question to answer because each individual is different. That being said, there are some factors you can consider to help you make the ideal choice for you, your career and your family.

Investment

How much money are you willing to invest in a business opportunity? An independent venture will require you to spend much more than a franchise, but franchises offer less independence. The franchise advantage, though, is a proven business model and structure, so there’s a greater chance of success right off the bat.

Structure

In an independent business, you alone occupy the top of the food chain. As a franchisee, the large decisions are made by the franchisor. it’s important to consider what level of control you wish to maintain, and what level you’re willing to relinquish. It’s a tradeoff — there are advantages and disadvantages to each type of structure.

Branding and Marketing

As an independent business owner, you are starting from scratch, which means that you have to build a brand and grow the public’s awareness of it. When you’re a franchisee, however, you buy in to a brand that’s already been established and is recognized by the public.

What’s Your Decision?

Whether you choose to go the independent route or you decide that in home senior care franchising is right for you, your eagerness to make it as a business owner is admirable! Success can be yours in either scenario, but it’s necessary to do your homework and search your heart to ensure that you have the best chance at success.

If you’re interested in learning more about franchising in the booming senior-care industry, we invite you to download our FREE franchising ebook today!