Question: Is It Better to Buy a Franchise or Start Your Own Business as a Managed Service Provider?
October 16, 2018
Videos
I’ve been in the IT field with the military for 15yrs and a time is coming
when Uncle Sam and I will part ways. I’ve also done break-fix jobs in the
civilian sector but as of late I’ve looked into the MSP (managed services
provider) business model. My question is franchise or not to franchise? There
are a few IT MSP franchises out there that look appealing. I’ve also read articles about franchising
being a good fit for military veterans because franchising offers a structured environment (i.e. they have plans & procedures)
that veterans are accustomed to. On the down side, the upfront cash to buy a franchise. I think I know your answer but please
share your thoughts.
-Trevor P.
Nerds We Can Fix That: http://www.nerdswecanfixthat.com
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Successful brand and successful systems equals success. Speak to existing franchise operators. Ask a few very straight forward questions. Are you having success? Are you making money? Would you do this again? This is not rocket science. Some franchises are bad, some are good and some are great. You never “buy into” a great franchise. If it’s a great system you’ll interview and be awarded a franchise. It’s an investment to be part of a great club. Just be smart, do your due diligence and open your mind.
Great video! As far as systems and procedures go, having the ability to grow and adapt your procedures to the growth of your business is crucial. Being in a franchise with stringent procedures that need to be followed, can be hindering. Thanks!
My personal experience with franchises is do your research! make sure you talk to other owners and not just the company trying to get you to 'buy in', it could save you a lot pain in the future.