I attended a webinar on franchising put on by school and delivered by John Armstrong from FranNet. I think there are some really interesting industries and businesses represented in franchising that opened my mind to more potential small business possibilities. There are two reasons I feel that this option is not as strong as searching. First, funding seems more difficult to obtain. There does not seem to be the benefit from having investors and advisors with you during the process and because this is a new business you are responsible for funding the net working capital and cash flows until you find customers. Second, franchises are fully focused on operations with limited potential for additional growth and development. I would like more creative control of the business strategy and marketing for my company than is possible with a franchise. The idea of turning my own small business into a franchise itself is appealing however.
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