Buy a Franchise or Start an Independent Business: Which Is Best?

When it comes to looking for other income streams, besides starting side hustles and getting a part-time job, running a business could be another option for you.

The great thing about running a business is that you are your own boss. Although you have full control over your business, operating one isn't a walk in the park. For this reason, some people consider being a franchise owner instead since everything required to run a business has already been laid out for you, ticking off all the arduous labour and paperwork.

But again, before choosing a business option, like starting your own bakery or getting a bakery franchise, it pays to know the different areas that affect your business's success. Here, we've listed down crucial business areas that affect both independent and franchise businesses. Let's take a look!

Branding

- Franchisee: When you invest in an established franchise, you can rest well knowing that your brand awareness is at your fingertips. When you include this in a national and local campaign, the brand itself is helping you run your own business.

- Independent Business: If you buy into an independent business, you may have an existing pool of customers. However, you'll need a strong community presence to give you that boost, and you may need to focus on various initiatives to gain traction in your business.

Rules

- Franchisee: Many factors make franchises successful, and one of them is compliance. This means that the franchise adheres to the rules of the brand, meaning customers will know what to expect and will keep a certain standard when it comes to service. Training is also more flawless as a manual and training program will be provided. - Independent Business: When you have an independent business, you make your own rules and regulations and decide when to change them. Additionally, you can also form your own training program, but note that your customers may have different standards and expectations.

Fees

- Franchisee: When you buy a franchise, you need to know it's built around a fee-paying structure. This means that you need to pay a regular royalty fee and marketing levy to continue to operate your brand to get constant marketing support. Additionally, you may deal with other fees like a percentage on turnover, a fixed monthly fee, or an upfront fee.

- Independent Business: Having an independent business doesn't mean you're exempt from fees; you may have loans and leasing payments to repay. Additionally, building a business can be costly since you need to build everything from scratch.

Training and Support

- Franchisee: When you franchise a business, training and support are included. So if you're getting a bakery franchise, you can expect that the company will provide training upfront and ongoing, ensuring that you have the right skills and techniques to continue the business.

- Independent: If you run your own business, learning skills and routines will be up to you. That's why you must develop effective methods to ensure proper training and support is provided for your staff.

The Bottom Line: Which is the Best Option For You?

When choosing whether to start your own business or purchase a franchise, it's always best to consider your lifestyle, budget, and how much time you're willing to commit to. So if you want to run a business that's already established and can provide you with security, getting a bakery franchise can be a great option!

How Can We Help You?

If you're looking to buy a bakery franchise in Vancouver, check out Cinnzeo Bakery Cafe™️.

Our Canadian-style bakeries have been bringing joy to our guests all over the world. If you want to own a place that provides a rewarding and warm feeling to guests alongside freshly baked rolls, consider franchising Cinnzeo Bakery Cafe™️.

Run your own Cinnzeo Bakery Cafe™️ franchise today!