Yes!! Your thought is absolutely correct. Franchise business is a worthwhile opportunity than starting your own independent business or brand. The franchisor with his abundant valuable experience and knowledge provides ample guidance to you.  There are few key points which give weightage to the above statement. Here we go:

1) In Franchise business, there already exists a very well planned, researched and structured business model which is highly goal and outcome oriented.

2) In Franchise, unlike independent business, branding and promotion has already been done in the initial stages. Franchise takes place only after the business runs well. So, branding requirements are very less or no.

3) The success rate of franchise business is much higher than independent business.

4) Franchise business does not require experience. The brand/franchisor provides full training support that is required to run the operation and sustain for long time.

5) The risk factor in franchise business is considerably low as there exists a proven model of business.

6) In franchise business, the speed of operation is much higher than starting an independent business as the brand already has an estimation of materials, equipment, space required, set up cost, required resources, training costs. So, research from scratch is not required by franchise business owners. On the other hand, to start independent business, every piece of information from basic to advanced level has to be first researched and experimented as time goes on.

7) The scalability of franchise business is more than independent business as franchise usually replicates a proven business model. The franchise system is more feasible to expand effectively and efficiently.

Statistics show franchise businesses have less failure rates as compared to starting a new business.

Also, the exit plan in franchise is very clearly mentioned in legal documents. If a franchisee wishes to shut down its business or exit, it can follow the rules mentioned in the franchise legal documents and proceed with the said needful.

FAQ

1) Is it better to franchise or start your own?

A) Both ways have their own set of pros and cons. However, a franchise business is much better as in franchise business you need not start from scratch and get support of an already stable brand and grow with their set strategies and operations.

2) Why is it a better idea to open a franchise rather than starting a new business?

A) Franchise is always a better idea than starting a new business because in franchise business there is always a proven concept of business model which has boosted up the sales of the business which led to expanding franchises. But for starting a new business you need to start from basic ideas, research on compatibility, forecasting and different strategies.

3) What are the three benefits of franchising?

A) The three benefits of franchising are:

1. Brand recognition

2. Lower failure rate

3. Built-in customer base