Franchise vs. Independent

Startup vs. Acquisition, LLC vs. Corporation, ROBS vs. SBA and Other Important Considerations When Starting a Business

Non-Fiction - Business/Finance
299 Pages
Reviewed on 01/31/2023
Buy on Amazon

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Author Biography

I'm not a billionaire, nor am I a well-known public figure. I'm just a regular guy who many years ago decided to pursue a dream of owning my own business and became quite successful at it. Throughout the years, both from being a business owner and a manager in the corporate world, I've acquired an eclectic and deep knowledge base in most of the fundamental elements necessary to start and succeed in the small business realm, including franchising, independent ownership, acquisitions, startups, funding, HR management, legal, real estate, and e-commerce matters. In this book, I've tried to impart that knowledge to anyone considering starting their own business so that they will have a broad and solid understanding of the different options available (including the pros and cons of each) - helping them to make decisions that align with what works best for them.

    Book Review

Reviewed by Doreen Chombu for Readers' Favorite

Franchise vs. Independent by John McGeehan is a well-documented guide on how to start your own business. Do you want to be an independent business owner, or do you want to work with a franchise? John McGeehan gives the pros and cons of working independently or with a franchise. He also gives the advantages and disadvantages of acquiring an existing business versus having a startup. Another decision a person should consider is whether to make the business a part-time or full-time active business. These first decisions will give you a road map of how you want your business to function. There are four main types of business ownership and legal structures you can choose from, these are sole proprietorship, partnership, Limited Liability Company (LLC), and corporation. The author also gives examples of the different types of business funds. Finally, the author shares tips and suggestions on legal matters, financial management, human resources, real estate, and many more. Find out all this and more by reading Franchise vs. Independent today.

Franchise vs. Independent is the perfect book for people who want detailed and honest advice on how to start a business. Invest your money in this book before visiting an expensive financial consultant. John McGeehan's vast knowledge on this topic blew my mind. His experience in the field was evident in every point he raised. From the documentation to what to look out for before signing anything, I could tell that John McGeehan is a professional and knows what he is talking about. The book is well-organized and has a smooth flow. The tone was casual, and the author did not use complicated financial terms. Anyone can read this book because everything was broken down into simple terms. Taking the first step is the most difficult stage of owning your own business, but this book will also give you the courage to take the step. There are a lot of decisions to make before starting a business, and making Franchise vs. Independent your first investment will be the best decision you will ever make.

Vincent Dublado

Franchise vs. Independent by John McGeehan is the handy reference you need if you have ever made the decision to start your own business. Such a decision is a tough first step and the next step is even more challenging. This book helps you take those next steps and points you in the right direction to owning a business. This book is divided into four parts: The first addresses what method of business is suitable for you. The second part discusses the types of business entities like a sole proprietorship, partnership, LLC, and corporation. The third part gives you a walk-through on financial management and different types of funding. The fourth part talks about the supplemental areas of business ownership that include human resources management, marketing, legal, real estate, and E-commerce matters.

John McGeehan gives it to you straight. There is no sugarcoating when he discusses what separates the percentage of small business owners from the much larger percentage of business dreamers. If you have the resilience and the dedication, this book will arm you with the necessary know-how to push through and build a business that makes a profit and stands the test of time. That is why McGeehan gives you the information that you need to understand before starting your business. Moreover, the solid base of knowledge you will gain from Franchise vs. Independent will help you assess whether or not your business idea is financially feasible. It’s a must-read whether you have already decided on what business to start or are still navigating some important decisions on where you want to go. This book will inform and educate you.

Keith Mbuya

The growth and success seen in the various categories of the business sector have left most people with an ultimate desire to own their own businesses. However, the acquisition of funds to start and run the business, and being uninformed about the particular preferred business are huge problems facing prospective business owners. Addressing various aspects to be considered when starting or acquiring a business – ranging from the method of business, the type of business entity, their financial management and funding, to their legal implications and much more – John McGeehan delves deeper into the whole subject of business ownership in his book Franchise vs. Independent. Get yourself a copy to learn more.

McGeehan creates an insightful and thoroughly enlightening book. He approaches his discourse in an unbiased and open-minded way, displaying enormous knowledge in the business field. He takes readers through the dynamics and ramifications involving each item he addresses in the book. This coupled with the way he backs his ideas with analysis, research data, and first-hand experiences made for an enthralling and thought-provoking read. He manages to maintain a chatty tone, despite the underlying general down-to-business tone throughout the book. McGeehan addresses both the tidbits and core terms of the business world in a simple way, making his work very comprehensive. I learned a lot about business entities (sole proprietorship, partnership, LLCs) and financial management and funding (cash flow management, ROI, business plan, debt funding, and loans). Franchise vs. Independent is just what you should be looking for if you are thinking of starting or acquiring a business.

Grace Ruhara

There is no better business mentor than John McGeehan. With his vast business experience, he has seen it all and maneuvered through the corporate world while learning many meaningful strategies, tips, facts, and dos and don'ts of handling a business. He applies this knowledge in his book Franchise vs Independent to help prospective business owners understand the fundamental concepts they should know before starting and running their own businesses. Some of the topics that he discusses are the risks and benefits of starting a business from scratch versus buying an already existing business. The types of business ownership, the importance of a business plan, and the most crucial aspect of a business—funding—including how to get funded, the requirements, and the different types of financing, are discussed.

Reading Franchise vs Independent has been very educational and inspirational. John McGeehan offers you all the facts, gives you his own relatable experiences, takes you through the advantages and disadvantages of the different business fields he discusses, and gives you room to make your own decisions. One does not feel compelled to do as the author says. However, one is free to go through his advice and make a decision while taking full responsibility for their choices. The short notes at the end of every topic came in handy since they always emphasized what the author was talking about and helped retain the information. I also loved that this is knowledge from first-hand experiences. As a reader, I can trust the knowledge that he is passing on to me since it's something that he has lived, seen, and felt in the many years he has been in the business industry.

Pikasho Deka

Starting a business is a dream that many people share all over the world. However, there are some macro-level aspects of business that anyone looking to start their own should look into first. In Franchise vs. Independent, successful businessman and author John McGeehan delves into the huge differences and implications between starting a franchise versus an independent business, starting a business from scratch versus acquiring an existing business, and starting a sole proprietorship versus an LLC or corporation. McGeehan also explains the ways budding entrepreneurs can find seed money to start their endeavors, explaining in detail the differences between SBA and ROBS funding, part-time versus full-time ownership options, angel investing, and much more. One of the key areas of any business nowadays is marketing, especially with the advent of the internet and social media.

Franchise vs. Independent is a must-read for anyone planning to start a new chapter in their lives by embarking on their own business endeavor. John McGeehan begins by giving an overview of all the fundamental macro aspects of starting a business and then goes over them in minute detail one by one. The narrative is written in an accessible style so that even readers who may not be too familiar with the technicalities of the subject matter will find it easy to grasp the content. McGeehan is crisp and concise with his explanations, and it makes for an immersive and engaging reading experience. An educational and informative self-help guidebook that I will highly recommend.