The Entrepreneur’s Source Terry Powell sheds light on the main differences between independent business ownership and business ownership via franchising.

1. The Entrepreneur’s
Source
THE ENTREPRENEUR’S SOURCE TERRY POWELL DISCUSSES
FRANCHISING VS. INDEPENDENT BUSINESS OWNERSHIP

2. Introduction
Small businesses are a gigantic component to the U.S. economy, comprising nearly half of America’s
GDP and generating 63 percent of new jobs between 1993 and mid-2013, according to the U.S.
Small Business Administration. As the number of small businesses in America continues to grow -
demonstrating that business ownership is a viable career for many people. Business ownership is
an optimal vehicle to success for those looking to leave corporate America and take control of their
career.
“In general, business ownership requires a large amount of personal investment and hard work to
succeed, but the benefits of success are never-ending,” said founder of The Entrepreneur’s
Source Terry Powell. “Self-sufficiency through owning a business allows you to achieve your
desired Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals, and the satisfaction of being in the
driver’s seat of your own career path.”
There are many entrepreneurial paths that an aspiring business owner can take to achieve self-
sufficiency, and business ownership isn’t the same for everyone. Among the first things for a
hopeful business owner to contemplate is whether independent ownership or joining a franchise
system is the right path to follow for their unique skillset and desires.

3. Franchising vs. Independent
Business Ownership
It’s important to examine the benefits and drawbacks of both routes to business
success – franchising and independent ownership – to consider which pathway
may be the right fit for your unique I.L.W.E. Goals. To start the conversation, The
Entrepreneur’s Source Terry Powell sheds light on some of the differences
between independent business ownership and business ownership through
franchising to help you decide with path is right for you.
• Business Structure
• Total Investment
• Marketing and Branding
• Operational Assets

4. Business Structure
When an aspiring entrepreneur takes the route of independent ownership, they
have the ability to call all of the shots. They’re in charge of creating and monitoring
inventory, services, strategy, hours, marketing etc. When looking at franchise
business ownership, the franchisor largely makes the larger decisions. Franchisees
are truly never in their business alone and have someone to turn to for assistance
and guidance. In franchising, everything is tested and proven to work, and with an
independent model, the owner is free to experiment and develop their own
strategies. Both models can be successful depending on the aspiring business
owner’s personality and work style.

5. Total Investment
When looking at opening a franchise business, the franchisor typically plays a
large role in helping to get the business up and running. They oftentimes
assist with real estate site selection, lease negotiations, vendor discounts,
marketing assistance, grand opening support and more. As a payment for this
assistance, franchisees oftentimes pay a monthly royalty fee to the franchisor.
In an independent business, the business owner chooses how much money
they’re willing to put into the business and at what times. The owner can
choose to delay expansion or downsize service offerings when money is tight,
but because of financial obligation, a franchisee may not have this option.
However, it may take an independent business more money to open shop and
turn a profit because they don’t have the assistance, experience or expertise
of a franchisor.

6. Marketing and Branding
When a business owner takes the route of franchising, they are
investing in an established and probably well-known company, so the
brand and service offerings are common knowledge among potential
consumers. Franchisors are also able to invest much more money into
advertising, marketing and public relations than independent owners,
meaning a franchisee has to put in less work to get people to walk
through their door. Independent business owners don’t have this same
luxury because they don’t have the same amount of resources or
recognition from the get-go. They will most likely have to work harder
and put more money into building a presence and recognition in their
community.

7. Operational Assets
For some, independent ownership may supply an outlet by which they
can creatively manage their business and drive their way toward
success. For aspiring entrepreneurs that have a business background,
independent business ownership can give them more freedom to
experiment in their business. For those with less experience or
knowledge, the ongoing support that a franchise system provides can
be priceless. In franchising, the franchisor only succeeds if their
franchisees succeed, so consistent support is essential.

8. Attend Start a Business Weekend to
Explore Your Options!
For those individuals considering business ownership as an alternative career
path and are looking to explore their options, The Entrepreneur’s Source is
hosting a complimentary, virtual career expo, Start A Business
Weekend (SABW) March 26-28. Start A Business Weekend gives attendees
the opportunity to explore a variety of franchise opportunities.
“Attendees have access to three days of industry experts’ informative sessions
hosted in the virtual auditorium, without leaving their home or office,” The
Entrepreneur’s Source Terry Powell said. “It’s complete convenience—
coaches are accessible all weekend long to guests. Plus, attendees gain all the
benefits of a franchise expo without the travel expenses and time
commitment

9. Sign up Today!
All attendees have access to 80 virtual online booths, free videos, coaching conferences,
enlightening seminars, a virtual briefcase and networking opportunities.
After SABW concludes, all attendees will be given a 60-day pass to revisit
their SABW resources and explore their exclusive franchise opportunities in more detail.
To attend Start a Business Weekend, register here: www.StartABusinessWeekend.com.
The virtual fair will be held March 26-28 from 10:00 A.M. to 7:00 P.M. EDT and is free for
all attendees.

10. Contact us
 800-289-0086
 http://www.entrepreneurssource.com/blog
 blog@theesource.com