What are the advantages of becoming the owner of a franchise?

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The major advantage of becoming the owner of a franchise (rather than trying to create an independent business of your own) is that you get the benefit of the brand recognition of the franchise.  You also get the benefit of the advertising and other marketing done by the franchise.

For example, if you own a franchise for a motel chain, customers will know what to expect from your motel.  They will feel good about making a reservation with you because they will know the general level of quality they will find in your motel.  They will also be able to find your motel easily because it will be on the company's website.  These sorts of advantages make it much more likely that you will be able to attract customers.

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What are the disadvantages of becoming the owner of a franchise?

The major disadvantages of becoming a franchise owner have to do with cost and with the control over your own business and its image. 

Part of owning a franchise is paying the franchisor for the privilege of using their trademarks and expertise.  This can be very expensive and is a cost that is not incurred by someone starting an independent business.

Another part of owning a franchise involves giving up some degree of control over your business choices.  Franchise agreements often require franchisees to allow the franchisor to have significant input into various aspects of the business.   

It is also possible that being associated with the franchisor will hurt you.  This might happen if the franchisor runs into some sort of negative publicity.  Your business will be hurt even though you had nothing to do with the negative condition.

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