In comparison to the startup business franchises have proven to be more successful. When you open a franchise you have a support system from the start. The risk involved in a startup business is much more than that of a franchise. The risk factor is considerably much less in the franchise. When it comes to opening a franchise franchisors aim to protect their brand awareness by providing continual support to the franchises. While entering into business multiple options are available to the individual. The options available are whether to start a new startup business or to open an existing franchise. The decisions can be made depending on various factors. But it is always a better and more secure option to open a franchise. If as an owner you are detail-oriented, good at following directions, and comfortable with established systems, franchising provides a quick and easy way to become a business owner. Owning a franchise gives you the right amount of independence with guidance.

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Brand awareness: A startup business might not attract brand equity but when it comes to a franchise the consumers are already aware of the brand and its proposition and it also comes with reliability and quality. One of the greatest advantages of buying a franchise, as you will spend less time and investment in launching your business. Even if your business is brand new to an area, the reputation of the franchise brand can create the initial word of mouth promotion, highly vital to success. Thus, there will be even higher chances of success.

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Marketing: Franchises can take advantage of the franchisor’s national as well as regional budgets for marketing which may run into millions. This might require a monthly contribution to a minimum budget which is far less than the potential benefits. In startup business will require more investments in marketing and advertising with no guaranteed commitment of return. When it comes to franchise along with a reputed name, you will also get a loyal consumer base. There is an immediate trust level that comes with name recognition of the franchise. You will also have input and help from the franchise on how to craft and execute effective campaigns of your own as well. They may also provide, depending on their size and resources, a marketing plan that covers a market analysis, strategy, sales forecast, and budget that will help you market the brand.

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Franchisors support: Franchisors often try to protect their brand reputations by providing continual support to the franchises. Franchisors also provide field support specialists to keep business on track and groom owners as leaders. The risk factor involved in any franchise is much less as of the startup business. 

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Many franchisors also provide all the needed packages to start the business (including equipment, supplies and training) and the franchisee executes the plan. Buying a franchise always allows start-ups an ideal balance between being independent and receiving guidance.

Peer support: With an existing network of franchisees, the business owner can benefit from obtaining business knowledge to address challenges and issues. Peer support is stronger in franchises than in a startup business.

Product/ service innovation: Any kind of business innovation requires a lot of time and money investment. In the case of a startup business, it may not always work and result in loss of time and money whereas franchisors keep on innovating on their own budget and after trying and testing, implement the new offering in the franchisee stores.

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Scalability: One of the most common advantages of starting a franchise is the scalability factor involved. A franchise system allows an entrepreneur to expand the business more effectively and efficiently as he wants.

A franchise is always based on the principle of replicating a proven business model, they are easily scalable in multiple ways and more. You can often scale your business geographically by starting in one area and gradually expanding to multiple locations as per the need.

It’s always better to buy a franchise rather than starting a new startup business. Franchise owners are more likely to become successful entrepreneurs as compared to the owners of a startup business. Starting a new startup from scratch can be extremely difficult. There are tons of responsibilities when it comes to starting a startup like building a strong business however there are many advantages of investing in franchises.

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When you invest in a franchise, you are supported by a successful business model that has already worked upon its weaknesses and already knows its strong strengths. When you open a franchise you’re not alone, you can always count on franchisors help when you hit an obstacle. In a franchise, you have the flexibility and freedom to be your own boss. Some of the franchisors also provide comprehensive training programs that help you to jump-start your business and gain lots of knowledge about the industry.