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don't know if i should just go for a sure thing, long term investment for retirement or take a chance high risk short term stuff
remember i'm only working with 20... |
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Might they just not be able to help you and ask you to come back with more to invest ? Or how might these things usually work?
Additional Details
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Additional Details
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***** | Is it better to own a franchise or start your own bussiness? |
i like to know how to make lots of money i maybe a franchise is the way to go |
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littlebit
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It really depend on the product you are selling.
LC |
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Casey A
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One huge question, one not hit yet by in other answers, is:
"Are you already an expert at what it is you will do"?
If your looking to start a business, great. But if you're a computer networker right now and you want to start a pizza joint somewhere in town, the problem most people in your shoes find is they'll go way over budget, become mind-crushingly frustrated the whole way, and usually fail because you aren't an "expert" at starting a restaurant, working with dozens of vendors (literally, you'll be working with over 100 sales reps for all your needs), running impeccable business finances, and cranking out pizzas while building and maintaining a dynamite team.
If it's new for you, you need a structure to get your odds of failure from 96% down to about 25%. That's what franchises will provide. Then you just step in and execute. You don't sweat the small stuff (besides the numbers.)
Obviously you have to have a yearning to actually run the business either way. However, focusing on the customers/team/finances is easier in a franchise since they typically take care of all the peripheral stuff like marketing, technology, real estate, and set-up (which is what you pay dearly for.) |
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captures_sunsets
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Franchise |
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minus
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Both work well but not for all. Either way it will take a lot of time and effort. You need to be willing to work long hard days and willing to spend the money needed. Most people that make a lot of money do work very hard for it. |
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prerana
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Depends on the project, your investment capability and the proposed location
If the business demands Brand name supply chain etc., better to go for franchise |
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danuitti
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You have to have LOTS of money to buy a decent franchise. I think that the overhead of owning a franchise is not worth it. Some charge high fees, and make you buy from them exclusively. Others make you RENT the storespace FROM them. YOU do all the work, THEY make all the money.
I recommend that you start your own. Invest in YOURSELF. Try to meet everyone in your community and help them to become your customer. |
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r11567
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I think it depends on what you really want, your competency and your level of risk-taking. If you are confident on your own self and are willing to take some risk, you probably start your own business. Otherwise, take your money to buy some blue chips for steady income. Don't engage in any franchise. You end up taking all the risk while the original franchise owner makes money out of your business anyhow. |
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hsmnt
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depends. everybody in the business to make lots of money. if you can offer a service or product with a clear compatitive advantage against competitors, and you have resources (time, money, people and tools, for production /operation, finance, sales & marketing and management) then you can setup your own business.
but if you only have money, but lacking other resources, franchising perhaps the better option. |
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longhunter17692002
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its better to be a frranchise |
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Franco
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There is no "best" option for every one.
With a franchise you need more money, but you get help from experts all the way and you can estimate probable profit more accurately.
With out franchise you need a lower investment, profits can be higher because of lower outgoings, but so is the risk of failure.
As you see, it all depends on your attitude to risk. A general principle of business and investing is; the higher the risk the higher the potential profits or losses. Good luck |
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