When starting a business, many entrepreneurs deliberate whether it's better to invest in a franchise or to go from scratch. Good reasons exist on both sides. But the final decision depends on how entrepreneurs weigh their options. Those with an MBA may be better equipped to make an informed choice.
MBA grads must understand advanced subjects that offer knowledge essential to entrepreneurs. Consider how prepared an entrepreneur would be to evaluate a franchise or to pitch investors a thoroughly developed startup armed with the right knowledge? The online Master of Business Administration (MBA) with an Entrepreneurship and Family Enterprise Concentration program from LSU Shreveport provides foundational knowledge through courses that cover topics like the following:
Without the depth of knowledge acquired in such courses, and much more offered in an MBA program, an entrepreneur likely would need a business consultant to help determine the potential of a franchise or startup concept.
But even if an entrepreneur has such knowledge, many issues remain when thinking franchise versus startup, including the entrepreneur's personality, goals, intentions, and talents.
The decision to open a franchise or a startup requires intensive soul-searching, funding, and a willingness to assume risk. As you consider which way to go, honestly examine yourself and your feelings. And you also may want to seek the wise counsel of a mentor or associate who knows you well.
Take the first step forward by completing the form and our enrollment team will contact you soon to discuss: