Franchise model proves to be more successful than proprietorship as it comes with benefits of short time installation and less cost employed as it is easy to get financed for the franchise than for own business from investors. A franchise model is preferred as it comes with initial training and blueprint towards the success of the business.
A franchisor is equally benefited with royalty and initial fee in return to its established name, guidance and support to the franchisee.
Though the franchise model is benefitting to both, franchisee and franchisor it is a must to do critical research on how to maintain cash flow when investing in a franchise.
Since franchisee business helps to kick start an already famous name into your business. Running an already successful brand with expert guidance and support makes it a profitable undertaking. This high-profit scope made franchise model much splurged in recent years.
An independent venture is immensely demanding in terms of economic and ideation attributes.
You need to start everything from point zero and the risk of failure always persists.
Also, once the business comes into the working stage, promotions and marketing are quite costly, both in monetary and intellectual aspects. In franchisee, most of the promotions are already done and the product is settled in the minds of customers.
No doubt that the franchisees were once independent businesses only, so if you put in the best
efforts and intellectual ideas then your business can become a franchise too.
Observing all the benefits of the franchise model and potential of self-made business SkillShare is equally active in establishments of schools and setting up of franchise models. For franchising the product,
SkillShare ensures good demand for the product in the market accompanied by dedicated professionals with at least 20-30 years of experience in their niches.