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Answer :
Final answer:
The franchiser provides the franchisee with a proven business model and support. Buying an existing business offers advantages such as an existing customer base and trained employees. Owning a business entails various types of risk that can be managed through insurance, planning, and savings. Starting from scratch is harder due to the lack of a proven business model and customer base.
Explanation:
The role of the franchiser when a franchise is purchased is to provide the franchisee with a proven business model, including training, guidance, and support. They often provide resources for marketing and advertising as well.
There are several advantages to buying an existing business. Firstly, it has a provable track record of success. Secondly, it has an existing customer base. Finally, it has skilled and trained employees already in place.
If you want to open a doggy-daycare business, there are several risks you need to consider. A human risk could be an injury to a pet or employee. A natural risk might be a hurricane or flood that damages your facilities. An economic risk could be a recession, leading to less demand for dog daycare services.
To mitigate these risks, you might consider taking out insurance coverage, developing a business continuity plan, and putting aside savings for periods of economic downturn.
Starting a business from scratch is more difficult than purchasing a franchise, buying an existing business, or joining a family business because it lacks a proven track record, established business model, and potentially loyal customers.
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