The Franchise business model is where you own the store or restaurant but do not own the business. But an independent business is where you own the store or restaurant and own the business. In this business essay I will be comparing the franchise business model to the independent business model.
Like I wrote above a franchise business is where you own the store or restaurant but do not own the business. Some examples of franchise businesses are: Mcdonalds, Subway, and Burger King. Though all these examples are restaurant franchises there are many other kinds of franchises. Even though Franchises seem quite similar to an independent business it is actually pretty different. Franchises have less risk and rewards, which makes it less stressful, but less rewarding because you do not own the business. Also Franchises are usually well known and popular nationally or globally. For example most people around the world know what Mcdonalds is.
An Independent business on the other hand like I wrote above is where you own the store or restaurant, and you own the business unlike a franchise. Some examples of independent businesses are: your local deli, boutique clothing store, etc. An independent business has quite a bit of risk when it first opens up, but if it is successful it is quite rewarding because you own the business. You also have more worry especially when a franchise or another independent business starts up in your area. An independent business is usually well known in a town, city, or state or province(but this is not common).
In conclusion this is my comparison of the franchise business model and the independent business model.