Business viability : a comparison between franchises and independent businesses
Lewis, Josephine Edwardine
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The study is based on a comparison between franchises and independent businesses. The purpose of the study is to have a clear understanding of the advantages and disadvantages of SMEs and franchise businesses in Rustenburg (North West Province) and its environs. A number of textbooks, published works and web articles on SMEs and franchise businesses were used in determining definitions and advantages and disadvantages that are experienced by the entrepreneur. A survey research design was used with a questionnaire as data-gathering instrument. The purpose of the questionnaire was to determine the experience and viewpoints of the entrepreneurs towards SMEs and franchise businesses. The study population consisted of 71 entrepreneurs who operate in the business environment of Rustenburg (North West Province) and its environs. Limitations in the research were identified and several recommendations were made in order to guide the entrepreneur in choosing a business that will suit his/her needs. The findings of the study offer advantages and disadvantages for both the franchise and independent businesses. The research results lead the entrepreneur to seek for a good business opportunity that will add value in terms of enterprise development, ownership, and financial benefits.