In business circles we frequently hear and make reference to “entrepreneurial spirit.” It’s this spirit that drives an individual to taking risks, sometimes calculated, but not always. “Spirit” is often associated with “free.” Sir Richard Branson of Virgin Airways fame, among other successful business ventures, would definitely be considered a risk taker, an entrepreneur and free-spirited.
It’s often been said that individuals explore franchising due to it being less risky than starting a business from scratch as the franchise comes complete with a proven business system. The old adage about being in business for yourself, but not by yourself, creates a nice, warm sense of security that a franchise can ultimately provide.
Minimized risk. Proven system. Sense of security. Could you really see Sir Richard as a franchisee? So, if Sir Richard Branson epitomizes the true entrepreneurial spirit, my question remains, “Are franchisees entrepreneurs?”