The dream of many people is to have their own business and become the head of a company that depends on their command; however, the fear of making a very risky investment slows down the decision to undertake.
An alternative to achieve this goal is to acquire a franchise, because although they are not without risk, they have a greater chance of success than a business whose model has not been tested.
"For the last five years, the franchise sector has had a notable expansion, there are about 1,300 alternatives to start a business with this model ," Diego Elizarrarás, president of the Mexican Franchise Association (AMF), explained in an interview.
Diego Elizarrarás explains that there are five myths that surround franchise models.
1. The business manages itself : A franchise is a risky investment; For the business to work properly you must assume your responsibility and dedicate time to it.
2. They are all made for business : Franchise models also require a certain entrepreneurial spirit, if your vocation has never been customer service and you acquire a franchise for direct sales, the chances of your business failing rise.
3. All businesses can be franchises : Entrepreneurs often have a couple of branches of your stores and consider that they are ready to turn their business into a franchise brand, the process is not easy and requires a high degree of professionalism.
4. Franchises are for millionaires : You don't need to have a lot of money to acquire a franchise, nor can they make you a millionaire overnight . Thinking that a franchise is a way to get extra money without having to work is the first mistake of an investor.