Should I start my own shared power bank network or become a franchisee?
Starting your own shared power bank network depends on two important factors: time and resources. building an app from scratch could...
TL;DR It depends on two important factors: time and resources. Building an app from scratch could give you total freedom, but takes a lot of time and resources before it is ready to launch. As a Network partner, you only focus on the sales and operations part of the business in your region. Most other aspects are handled by the franchisor. To summarise the question: do you want the freedom and full ownership of the company? Start your own business. Do you want to start quickly and focus only on sales and operations? Become a Network partner.
Well, the short answer is that it depends on two important factors: time and resources.
Starting a business with Brick
Do you want to buy an “off-the-shelf solution” where an app is created and ready to be used, or do you want to build an app yourself?
Buying a ready-made app gives you the opportunity to start off quickly and get going, however, you won’t have that much freedom to solve bug fixes (errors in the app) or to develop it without paying the creator more money. Building an app from scratch gives you total freedom (if you or your co-founder is a developer), but takes a lot(!) of time and resources before you have a product that works and is ready to launch. Either way, you will need to find a manufacturer of power bank stations to cooperate with.
If you have the time and resources to do it, we recommend you have at least a small team of developers. Make sure that you control the software system so that you can develop a product that adapts to what the customers need. There is nothing more frustrating than having a product that you can’t adjust to the market needs when you need it. Becoming a successful power bank network owner takes time and money. Yet, it is very rewarding and gives you a lot of freedom!
If you want to become a Network Partner/franchisee
Becoming a Network Partner or franchise owner means that you partner with an existing network and product. Common practice is that a Network Partner expands into a new region. As a Network Partner, you don't own the business or tech but instead can launch a network within a few weeks or months.
As a network partner, you only focus on the sales and operations part of the business in your region. The technical functions of the business are handled by the franchisor. Usually, you buy your own stations and pay a franchise fee. One benefit is that the franchisors are responsible for regulations and compliance. Getting that load off your back comes with a back draw; you are one of many Network Partners and may have to wait for requests to be answered. At the same time, it is very effective to have an already established network.
To summarise the question, it boils down to one thing: do you want freedom and full ownership of the company? Start your own business. Do you want to start quickly and focus only on sales and operations? Become a Network Partner.
If you have further questions, please feel free to reach out to us!
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