businessbuilders

  If you’re looking to own your own business but don’t want to start from scratch, buying an existing business is a great option. Purchasing a business or a franchise can offer you the benefits of existing branding, marketing, and customer relationships. The question now becomes, which do you buy: An existing independent business or a franchise? Deciding between the options can be challenging and depend on your individual goals and professional experience. The main difference between the two is the level of control and risk you’re willing to take on. In this post, we’ll review the pros and cons of each, along with other factors to consider before making a decision. Buying a franchise A franchise allows you to use the business model of a larger corporation. Essentially, a franchise is the purchase of a licensing agreement. This licensing agreement can give you the rights to use the existing company’s logo, name, and model. While this method offers more structure and guidance, it com...