One of life’s biggest thrills is opening your own business. It is also one of the scariest. Before you invest your time, efforts and money in your new business, consider all the ownership options. You can open an independent business, join a cooperative, or open a franchise. Each option has it’s own unique benefits and it’s own requirements. Of course, with independent ownership, you make all the decisions but you start with no basic plan. A franchise offers a recognizable brand, but there are lots of requirements. A cooperative, however, allows you to be independent, but provides access to proven techniques and unlimited support. Carefully consider each option before making your decision.
On your own or with a franchise
When considering opening our own independent business, you realize just how vulnerable you are. You alone assume all risks. For that reason, many people opt to open a franchise. Of course, you can open a franchise and receive support and guidance on many aspects of the business. However, the downside to opening a franchise is the ever watchful eye of the franchisor telling you how to run your business, how to price your products, and how to market them. With a franchise, you lose the freedom to run the business your way. If you own a franchise, you pay a percentage of the sales to the franchisor, which means the harder you work, the more the franchisor makes. Franchise fees and requirements are a constant siphon on your profits, creativity, and flexibility.
The best of independent ownership and franchise ownership comes together in a cooperative. A coop will provide you with a proven business plan, a proven product, and a proven opportunity that is ideal for the self-starter. Further, there is a built-in network of support that you can rely on to give you guidance when you want it, and when you need it. Cooperativess can help you with everything from finding a location to designing a marketing plan that works for your geographic area. They can even help you build a website and teach you how to maximize your profits. In the end, all of these help you reach your goals and turn your business into a profitable endeavor. With a coop there is no franchise fee. This further protects your bottom line and frees up capital to use for everything from improvements to expansion. While you do pay an initial membership fee, it is nominal in comparison to a franchise fee, and dwarfed by the long-term fiscal return you will receive.
After carefully considering the business plans of a franchise and a cooperative, a coop is a faster and easier way to start a business. Cooperatives are growing in popularity and business owners across the country are recognizing the numerous benefits that coops offer.
We know you have a lot of questions and we invite you to contact KaleidoScoops by calling (877) 426-8488. We will be happy to answer your questions and tell you more about our products, services, and the many ways our coop can support you along the way. You can also connect with us via email by going on Contact Us.