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Should you start up your own business or buy into a franchise?


Bookkeeper Adelaide

Many people who want to start up their own business consider buying into a franchise. Whether a franchise is a worthwhile option depends on your individual situation. It’s important to do thorough research and to get professional advice before you make a decision one way or the other.


Let’s briefly look at the pros and cons of starting a franchise.


Bookkeeper Adelaide

Pros

You can potentially:

· inherit proven business systems, processes, models and cash flow.

· benefit from the experience, advice and support of the franchisor.

· take on a business with an established reputation.


Bookkeeper Adelaide

Cons

On the flip side, you will have to:


· abide by any limitations in your franchise agreement that conflict with your business ideas.

· pay an upfront franchise fee as well as ongoing fees to the franchisor.


Bookkeeper Adelaide

Starting your own business instead

Now let’s look at the pros and cons of starting your own business from scratch.


Bookkeeper Adelaide

Pros

You can:


· make all your own decisions.

· avoid any upfront or ongoing franchise fees.


Bookkeeper Adelaide

Cons

You won’t:


· inherit any proven business systems, processes, models and cash flow.

· receive any experience, advice and support from a franchisor.

· inherit a business reputation.


Bookkeeper Adelaide

About us

Whether you decide to go it alone with your business or buy into a franchise, our team at Scorpion Bookkeeping can help you from day one. We can help you to set up cloud-based Xero software to help you manage your business finances and ensure your compliance with any ATO reporting requirements. We are a Xero-certified partner.


We can also provide your business with cost-effective bookkeeping support services. We service a diverse range of clients in South Australia, Victoria and New South Wales.


Contact us today for a free, no-obligation consultation to find out how we can help! We’d be happy to answer any questions you have.

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