Starting vs buying vs franchising
Course description
There are three basic approaches to starting a business: building from scratch, buying an existing business, or becoming a franchisee. In this lesson, you’ll learn the pros and cons of each approach.
KEY TAKEAWAYS
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New businesses have a higher failure rate than franchises or buying a business.
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Franchises and existing businesses come with systems and potential customers built-in.
It costs more to buy a business or a franchise license, but they can also become profitable faster.