How are a franchise and a sole proprietorship alike ? – Business & FinanceReport
Franchise and sole proprietorship have several
differences. However, they do coincide in certain aspects including
finances and regulations.
As a sole proprietor, you must follow local
ordinances that cover your business. And, as a franchisor, you
still do, but in this case, you may have the assistance of a
corporate member to guide you through the process.
As a sole proprietor, you have extensive
management responsibilities. As a franchise, you may not have a
full managerial say, but you still share similar management
In the end, both a sole proprietor and a
franchisee are both business owners that follow the same main
purpose: stay in business, be profitable, and expand.