What do you think would be better for your business? Franchising your business out to another person to receive decent royalty rates or corporately chaining all of the units in your business to receive all of the profits?
A home services mogul in my country has revenues of 500M a year BUT only have a net profit of 2M. They are the largest franchisors. I'm sure there are better franchising (profitability) models out there.
For my situation, I would hire people to work for me in a designated area that I want to expand in & take all of the profits rather then franchise as it fits for my business model.
Would you rather reap all of the profits but take the risk or reap the royalties and give the risk?
A home services mogul in my country has revenues of 500M a year BUT only have a net profit of 2M. They are the largest franchisors. I'm sure there are better franchising (profitability) models out there.
For my situation, I would hire people to work for me in a designated area that I want to expand in & take all of the profits rather then franchise as it fits for my business model.
Would you rather reap all of the profits but take the risk or reap the royalties and give the risk?
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