1851

Are you hoping to embrace your entrepreneurial spirit and become a business owner?&nbsp;As aspiring leaders search for increased flexibility and exciting opportunities to innovate and build a legacy, many drop their careers and opt to own a business. But there are several paths to becoming a business owner: you can start a business from scratch, buy an existing one or invest in a franchise.&nbsp;So, which path is right for you?<h4>The Benefits of Buying a Franchise</h4>Dave and Missie Carlile ran their own heating and cooling business in Indianapolis for 22 years before deciding they couldn’t continue. They would either need to change their business or quit. Their decision? To convert their business into a&nbsp;<a href="https://1851franchise.com/heatingandairparamedics">Heating + Air Paramedics</a> franchise.“The struggle of trying to grow our company started to become too much for just the two of us to handle,” said Dave Carlile. “So Missie suggested we look into a franchising opportunity.”The couple quickly found the franchise model to be the solution to the issues they faced with their business.“Small referral companies like us aren’t what they used to be,” said Dave. “Google is the new phone book, and if you’re not heavily present there, you’re going to struggle. With the guidance from Heating + Air Paramedics, we get the support, marketing tools and presence that most larger companies have.”&nbsp;Franchises offer a tried and true model for opening a business. By investing in an existing, well-established brand, you can bypass many of the sticking points that independent owners face. You can also enjoy the added benefits of having a loyal customer base immediately upon opening, quickening the profitability of your business venture and increasing the likelihood of success.According to the U.S.&nbsp;<a href="https://www.investopedia.com/terms/b/bls.asp?utm_source=1851franchise.com&utm_medium=article&utm_campaign=should-you-buy-a-franchise-or-start-your-own-business-2719240" target="_blank" rel="nofollow">Bureau of Labor Statistics</a> (BLS), roughly 20% of small businesses close within the first two years of opening, 45% during the first five years and 65% within the first 10 years. Only 25% of new businesses survive for 15 years or more.&nbsp;Franchising offers a safer option for entrepreneurs that want access to guidance and support each step of the way.When you sign a franchise agreement, you pay the franchisor a fee to license the right to use the name and processes of the business. From then on, most franchisors will assist you with selecting your location, building your store, connecting you with suppliers, selecting and training your staff, and getting your business running.As a franchise owner, you won’t need to reinvent the wheel because the goal of the franchisor is to deliver a consistent, high-quality experience for consumers across all of the brand’s units.&nbsp;<h4>The Benefits of Starting Your Own Business</h4>Owning a small business allows owners the freedom to engage their creativity. Building a business from scratch works best for those seeking financial and personal freedom who have a solid understanding of running a business and are honing a lucrative idea.If you have an innovative idea, you may be able to turn it into a business. Sam Walton did it with Walmart, Mark Zuckerberg did it with Facebook and Jeff Bezos did it with Amazon; many others have done the same. With startup costs as low as $10,000, having your own business — potentially even headquartered in your basement or the trunk of your car&nbsp; — can be significantly less expensive than the fees and recurring costs associated with franchising.If all goes well, your brand may someday become its own franchise. While the risks of starting a business may be greater than franchising, the potential ROI can be incredibly high. If you want a shot at the big leagues more than a steady paycheck, launching your own business may be the right move for your personality.&nbsp;Finally, and most critical for many budding entrepreneurs, building your own business makes you the boss in every way possible. You make every decision, create your schedule and run operations precisely to your liking.For the innovative entrepreneur willing to take a risk, there is limitless potential when starting a business.

Should You Buy a Franchise or Start Your Own Business?

1851 Franchise

While both options can be risky and rewarding, the answer ultimately depends on your risk appetite, entrepreneurial personality and financial ambitions.

should-you-buy-a-franchise-or-start-your-own-business

Caring Transitions

Caring Transitions: A Recession-Resistant Franchise Opportunity for Entrepreneurs

caring-transitions-a-recession-resistant-franchise-opportunity-for-entrepreneurs

Minuteman Press International

L-R: Bob Titus (CEO), Eric Shank (Catonsville, MD), Bob Heimbuch (RVP), and Nick Titus (President).

Minuteman Press Franchise Owner Eric Shank Recognized at World Expo

minuteman-press-franchise-owner-eric-shank-earns-standing-ovation-at-world-expo-for-growth-in-catonsville-md

Melting Pot

Melting Pot Expands Its Flavor Story With Seasonal Menus and Retail Line

seasonal-menu-retail-innovation

Griswold

How Griswold Honors Veterans Through Care, Employment Opportunities and Franchise Ownership

how-griswold-honors-veterans-through-care-employment-opportunities-and-franchise-ownership

Sola Salons

Photo of exterior of Sola Salons location with brick front and blue sign

Why This Former Silicon Valley Engineer Invested in Sola Salons

silicon-valley-engineer-franchisee

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Crunch Fitness Franchise - Sixth Street Minority Stake - CR Fitness - 1851 Franchise

Sixth Street Takes Minority Stake in CR Fitness, the Largest Crunch Fitness Franchisee

cr-fitness-crunch-fitness-sixth-street-investment

houses, Why Top Franchises of 2025 Outperform Independent Businesses

Why the Top Franchises of 2025 Outperform Independent Businesses

how-franchises-outperform-independent-business-2025-tech-data

Photo of Happinest Brands teams standing together in front of branded vehicles

Happinest Brands Continues Strong 2025 Trajectory With Major Q3 Growth and Strategic Wins

happinest-brands-q3-franchise-growth

Franchise Owners Step Up To Support Communities During Government Shutdown - 1851 Franchise

Franchise Owners Step Up To Support Communities During Government Shutdown

franchise-community-support-shutdown

Slim Chickens Opens R&D Center at World Headquarters To Drive Menu Innovation

slim-chickens-rd-center-fayetteville

Senior Entrepreneurship - Franchising - 1851 Franchise

Senior Entrepreneurship Is Rising — And Franchising Is a Key Outlet

senior-entrepreneurship-franchising-silver-startups

image of jerome hanway from right at home Las Cruces, New Mexico 1851 franchise franchisee spotlight

Jerome Hanway Is Building His Right at Home Franchise Around His Mission To Serve

Should You Buy a Franchise or Start Your Own Business?

MORE STORIES LIKE THIS