W7 EOC Benefits of Entrepreneurship vs. Franchising

First, simply put, is if you are a franchisee, you must give part of your profit to the franchise owner.  Who wants to run and manage a business, take all the risks and give part of the profit to someone else.  It's like sharecropping.

What business owner wants to have someone telling them what they must sell, what hours they must work and that they cannot innovate in any way?  Entrepreneurs go into business because it offers more autonomy than being an employee.  Being a franchise owner is nothing more than begin an employee.  Your hard work and sacrifice is used to make someone else money. Entrepreneurs can build income and wealth through their endeavors. Although income potential is generally capped for employees, entrepreneurs are limited only by their own imagination and tenacity.

I want to open a restaurant to showcase my skills and offer fulfillment to my life.  Successful entrepreneurs are passionate about their businesses. They are excited and fulfilled by their work. Entrepreneurs who are working to reach their full potential are rarely bored, because there is always plenty to do. If one facet of running the business is uninteresting, and they have the income to support it, they can hire someone else for that task.

Social entrepreneurs who want to contribute to societal improvement find ways to do this while also earning profits. Founders of not-for-profit organizations create enterprises to address public issues that are personally important. Other entrepreneurs start lifestyle businesses that allow them to earn money while following a passion.

So, why would anyone open a franchise.  You lack independence, you take all the risks and give part of your profits to someone else, you are set into an inflexible system which does not allow you to conform to your customer demands and you must suffer the reputation of other franchise owners.