Ateneo Professor on Entrepreneurship
Ateneo Professor on Entrepreneurship
Which is better: starting your own, or buying a franchise? Before, I did not accept franchises as BP for the simple reason that a franchise is well tried and true business plan/formula. No need to be creative which is being developed in business plan writing.
In the PHL thanks to Mr. Samie Lim (a classmate in college, the father of franchising in the PHL), franchising has grown by leaps and bound in the PHL. However in US, Franchising will grow (in line with their GDP growth) by only l.9%.
Some truths about franchising:
l. It will cost you more; do not believe the all in package price;
2, No room for creativity; the operational and marketing support are cut and dried;
3. The local marketing (LSM) is subject/vulnerable to the overall impression of the brand, nationwide/worldwide.
3. things you should know about buying a franchise.
If you are the creative/dominant type, franchise is not for you.
Ateneo Professor on Entrepreneurship
Which is better: starting your own, or buying a franchise? Before, I did not accept franchises as BP for the simple reason that a franchise is well tried and true business plan/formula. No need to be creative which is being developed in business plan writing.
In the PHL thanks to Mr. Samie Lim (a classmate in college, the father of franchising in the PHL), franchising has grown by leaps and bound in the PHL. However in US, Franchising will grow (in line with their GDP growth) by only l.9%.
Some truths about franchising:
l. It will cost you more; do not believe the all in package price;
2, No room for creativity; the operational and marketing support are cut and dried;
3. The local marketing (LSM) is subject/vulnerable to the overall impression of the brand, nationwide/worldwide.
3. things you should know about buying a franchise.
If you are the creative/dominant type, franchise is not for you.
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