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10 Challenges Franchise Owners May Face
The route to success is not usually a straight and direct path. Though franchising offers many advantages and can prove to be a prosperous venture compared to starting a traditional business, it is not without its challenges.We tapped into the minds of some of the best of the franchise industry to compile a list of the top 10 biggest challenges that potential franchisees may face.Keep in mind, a reputable franchisor will ease the transition for you and could even completely eliminate many of these points.
Contributors:Joel Libava, President - The Franchise KingMark Milburn, President - Franchise POD Lonnie Sciambi, CEO - The Small Business ForceRick Grossman, President - My Franchise HubKylee Hoffman, Marketing Manager - OpenWorks
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Top 5 Reasons to Franchise with OpenWorks
Starting and operating a business is no small feat. The journey is fraught with challenges and uncertainties, as reflected in daunting statistics. According to the U.S. Bureau of Labor Statistics, nearly one in four new businesses fail within their first year. Franchising, especially in a recession-proof industry, can be a solid choice.
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