Entrepreneur Model

One of the biggest differences between entrepreneurship and franchising is that entrepreneurs create the business structure and concept. The appeal of becoming an entrepreneur is that a person can become their own boss.

Entrepreneurs make all of the decisions and frameworks for their business. Typically, they have some type of training via college courses or from a family business or family member who is an entrepreneur.

When money is needed to start up their business, entrepreneurs are in charge of finding a source for that funding, whether it’s through crowdfunding, investors, a small business loan or a bank loan.

One of the greatest appeals of being an entrepreneur is that when they make a profit, they don’t have to worry about paying any fees, which is opposite of a person who is involved in franchising.