Why Some Franchises Fail
Monday July 23, 2007
About.com's guide to Franchising, Massimo Maccari, reports that according to the US Small Business Administration (SBA), 30% of independent, non-franchised companies fail during their first year. That shouldn't really be news to anyone starting a business or anyone who has tried to start a business and failed. Even franchising doesn't guarantee success.
The key to avoiding failure with a franchise is to understand some of the potential pitfalls franchise operators may face. Those who want to buy into a franchise in order to start their business are likely to end up spending a whole lot more money to get started than an individual who starts a home business on their own, without the support or name recognition that the franchise may have to offer.
Maccari's article provides 5 common reasons why franchises fail.
Related topics:
The key to avoiding failure with a franchise is to understand some of the potential pitfalls franchise operators may face. Those who want to buy into a franchise in order to start their business are likely to end up spending a whole lot more money to get started than an individual who starts a home business on their own, without the support or name recognition that the franchise may have to offer.
Maccari's article provides 5 common reasons why franchises fail.
Related topics:
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