ANDILE KHUMALO: To buy or build your new franchise

27 June 2021 - 05:02 By ANDILE KHUMALO

As entrepreneurs adopt innovative ways to stay alive, franchising has become a popular option to explore. Traditionally, the default was buying into an existing franchise that already had a strong brand and market share. But with new products being developed, there seem to be more options for prospective small-business owners to choose from, and many are not buying into franchises but starting their own chains.

In making the call to buy into an existing franchise or build one from scratch, you need to be clear on what you are trying to achieve. If you want to be a small business owner, then maybe buy a franchise and run it peacefully, but if you want to be a scalable entrepreneur, maybe it's time you thought of building your own chain, store by store...

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