You are to assume the role of a small business consultant. A client wants to start a business and has asked you for information about franchises.
The client lives in a rapidly growing city. The city currently does not have many restaurants or fitness studios and the client feels it would be smart to invest in opening a business.
The client’s first thought was to find zoned commercial space to lease and create a brand-new business. Then someone mentioned franchise opportunities to the client. The client would like more information about franchises. Specifically, the client wants you to explain:
- The difference between a franchise and an independent business
- The pros/cons of franchising
- General start-up requirements in franchising
- Planning considerations when choosing a franchise
