10
Franchises
It would be lovely if there was a way you could start your own business with a much greater chance of survival than most people. And this is just what is claimed by the franchising industry. The statistics seem to back this up, although they are rather patchy. What information is available suggests that a franchised business has a much greater chance of surviving the first three years (the danger years) than other new businesses.
Clearly, you don’t get something for nothing. The price of choosing the franchised route can be high. It is up to you to weigh up the costs of buying a franchise and the risks of starting from scratch.
Some of the costs are obvious: you may have to pay a lump sum at the outset as well as paying an amount each ...
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