Franchise FAQ

does owning a franchise make someone an entrepreneur

by Bella Mertz Published 2 years ago Updated 1 year ago
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Yes, a Franchisee is also an Entrepreneur!
You share with the franchisor knowledge of your specific territory. You see a business opportunity and act on it – by buying a franchise. You take a risk by buying into a franchise system although your chances of success are higher.

Full Answer

What is a franchise owner?

Risk-taker. Discipline. A franchise owner is of course a business owner. They have bought into the franchise brand because they are looking for the challenge of running their own business and are ready to embrace the demands and responsibilities that that involves.

Who said franchisees are not entrepreneurs?

Franchise consultant Joe Libava in his article Entrepreneurs Need Not Apply says : I say that franchisees are not entrepreneurs. The person who came up with the concept, and invented the franchise system for that concept is the entrepreneur. Pure entrepreneurship is much different than being a franchisee.

What is an entrepreneur?

an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures.

When was Entrepreneurs Day started?

Today it’s Entrepreneurs Day – a little bit of research revealed to me that Entrepreneurs’ Day was started in 2010 by David Hauser and Siamak Taghaddos, co-founders of the phone system Grasshopper, together with Amir Tehrani, co-founder of The Legacy Foundation.

Is Forbes opinion their own?

Opinions expressed by Forbes Contributors are their own.

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