Being a part of a chain business could be a huge temptation. However, building a startup business even if it’s small, is actually better than that. It goes beyond ownership debates, the small startup business will change how you do and develop the business itself. It’s pretty hard to make it short, but these following reasons would be adequate to tell you why startup business is better than buying a franchise for sure.
1. Maintain Your Own Rhythm
The biggest problem of chain business is the SOP which works as a one-size-fits-all solution. To some extent, it helps you to conduct the procedural aspects of your business but it only works on a certain scale or types of business. If you’re running a small startup business, you can set how fast you want those works finished. It provides you with independence on maintaining your own rhythm as well as facing the challenges.
2. Personal Relation
Running your own startup allows you to get into personal relations with your employees and customers. And they’re valuable capitals of the growth of your business.
3. Differentiation and Net Jobs
Chain business offers you with similarities but startup business requires you to differentiate your company and products or services. More net jobs are promoted with the startup business and you can deliver better (or even personalized)services to your customers. These will increase the value of your company and brand for sure.
4. Less Bureaucratic
The decision-making process is less bureaucratic in the small startup business. This way, you can improve and response any imperfections on your products and services more quickly and effectively. Once the business is scaling up, you know exactly to maintain the most effective way on the decision-making process towards any complications.
5. Community Developments
Small business keeps the flows of capital inside the community, the researches say. A startup company contributes to community development more than the chain business does. Almost 70% of the money spent on startup’s products stay on the community while the chain business only makes it at around 40%. If you start in local, then a startup company is not only better but also the best decision you’ll ever have.
6. Product and Service Development
Whether you want to sell products or services, product development is a serious case. Startup business is where any product or service development has a higher concern than the chain business does. You can produce unique products and provide personalized services only if you start your own business. You can think about scaling up, but starting it is everything.