Wait before you launched your business considered these two option whether its own vs known or some called franchise.
As in other businesses, creating your own brand is less capital-intensive than buying a franchise. However, a start-up business is more difficult to get off the ground and generally has greater chance of failing.
A franchise business on the other hand, mitigates the risk of failure because it has already a accumulated resources and experience to help its franchisees avoid critical pitfalls.
Own Brand As an owner, you to define a unique selling proposition or reason people should buy what you sell. You must build and scale processes to sustain your business operations You need to undertake continuous research and development efforts to come up with new offerings that sustain the relevance of your enterprise to your target market.
You need to fight off competitors who try to eat your market. Known Brand People are already familiar with the brand and would likely patronize its products and services even in new location.
The mother company has standardized design and layout of venue for the sale and venue. Operational processes are in place and are in place and are proven effective.
Mother company conducts regular R&D and these improvements are applied at your station. And it ensures that it maintains its position in the Industry.
Own Brand As an owner, you to define a unique selling proposition or reason people should buy what you sell. You must build and scale processes to sustain your business operations You need to undertake continuous research and development efforts to come up with new offerings that sustain the relevance of your enterprise to your target market.
You need to fight off competitors who try to eat your market. Known Brand People are already familiar with the brand and would likely patronize its products and services even in new location.
The mother company has standardized design and layout of venue for the sale and venue. Operational processes are in place and are in place and are proven effective.
Mother company conducts regular R&D and these improvements are applied at your station. And it ensures that it maintains its position in the Industry.
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