Two speakers explain how franchising lets first-time business owners learn and earn money while testing if they want to stay. Unlike starting solo, franchisees are legally bound to their contracts even if the business struggles.
Chapters
Yeah, this is, I mean, that's really a great way to think about why step into franchising? Well, if you've never owned a business, this is going to teach you how you get the playbook and you're paying yourself to do it.
And that way you can decide. And the other is that you can decide if you want to keep doing it or not. So one of the things we haven't talked about, but with franchising, you're signing a contract and you don't get to just like, if, let's say you wanted to start a coffee shop, and a year into it, you're like, this sucks. I'm working too hard. I'm not making enough money. I'm walking away. That's not an option. We're back to the scary stuff now. That's an option. In franchising, you sign a commitment and you're on the hook for the commitment.