TL;DR
Owning a franchise requires passion, grit, and operational savvy, with the key difference from independent business ownership being the use of a franchisor's business plan. Franchisees receive support from franchisors, but are also required to pay an ongoing royalty.
Owning a franchise is much like owning any business; it requires passion, grit, operational savvy and a decent amount of startup cash to open.
The key difference between franchise ownership and independent business ownership is that franchise owners don’t have to build the business themselves. Many franchise brands advertise themselves to prospective franchisees as “a business in a box” — an operation that can get up and running after just a few weeks or even days of training.
By the same token, franchisees are also beholden to the franchisor’s business plan, including the branding, operational model and virtually every other element of the business strategy. And, in addition to the initial investment, franchisees are typically required to pay an ongoing royalty to the franchisor.
Those potential downsides are generally considered offset by the support franchisors provide for franchisees — support that is necessarily unavailable to independent business owners.
Of course, the day-to-day work of franchise ownership varies from segment to segment and brand to brand. 1851 Franchise has profiled franchisees from a range of brands and segments to learn what a day in the life looks like at their business.
Acoustic wave therapy franchise PrimeWave.
Residential cleaning franchise ecomaids.
Smoothie and bowl franchise Robeks.
Lawn maintenance franchise Lawn Doctor*.
Moving franchise TWO MEN AND A TRUCK*®.
Pizza franchise Toppers Pizza.
Breakfast and lunch franchise Famous Toastery.
Ice cream and fast food franchise Dairy Queen.
Salon franchise Sport Clips*.
Breakfast and lunch franchise Toasted Yolk.
Massage and spa franchise Hand & Stone.
Sandwich brand Togo’s.
Massage and spa franchise Elements Massage.
Fitness franchise Workout Anytime.
Salon franchise Great Clips.
Health and wellness franchise BeBalanced.
Sports bar and restaurant franchise Buffalo Wings & Rings.
BBQ franchise Famous Dave’s*.
Flooring franchise Footprints Floors.
Holiday decorating franchise Christmas Decor.
In this story
This story was originally published in 1851 Franchise on July 12, 2021. Burnaze summarizes and links to the original reporting.
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