10 Sep Franchise: Perks and Risks
While franchises can make growing your business easier, it can be challenging for you to keep up with all the rules and obligations. While having a safety net is nice, paying monthly royalties might not be as much fun.
Take a look at Franchise Perks and Risks:
Owning a franchise has its upside! The longer a business has been franchised, the more problems they have worked out in the system. The franchise is there to help train you and your staff in everything from picking the perfect location to how to hire. Many business owners love being part of a franchise because it is like being on your own while having a safety net to fall back on.
The risks are real:
Franchising faces risks in different ways than in your normal startup business. Since there is a lot of upfront money given to the franchise holder, you are in debt before you break ground! On top of the startup cost, you also pay monthly or yearly royalties to the franchise holder for using their logo, their name and for taking advantage of their resources.
Do you know where your business is heading? To learn more about how we can simplify your accounting process, call us at 727.828.9945 to schedule your free consultation.
About Accounting & Business Partners
Accounting & Business Partners is a CPA firm with an efficient bookkeeping department. We believe that success lies in numbers. However, the drive behind the numbers is what truly matters. That’s why we look beyond the financial statements.