Franchise vs Starting New

[Joe Farrance]

Exploring many options I have noticed a franchise company called (HomeVestors or We Buy Ugly Houses) franchise. The cost of this franchise to start is about $80,000, now apart of me says that is money I could use to purchase a piece of property and hopefully I won't buy a dude and recoup that money with a windfall. The other part of me says this may not be a bad deal to purchase the business model. As I get closer to retirement (5 Years) Would it be beneficial to hit the ground running with a franchise model or go at it on my own. Would the price to purchase a proven business model be worth it or should I keep my fingers crossed and depend on information from another experienced investor who will not soak me for ungodly amount of money that could potentially add years back on to my retirement goal. I do understand the risk no matter what option I choose, I'm just trying to eliminate as much of the risk as I can in my later years.

[Giuseppe Pavone]

I'm currently a HomeVestors franchisee in Orlando and had the same dilemma as you. @Jeffrey Hotz brings up a lot of good points... all I would add is, talking to several current and former franchisees (especially those in my market) helped me make my decision.  I know there are many investors who've done extremely well without HomeVestors, but I would imagine there's more time & effort in trying to build your business that way.  It's really no different then opening up a burger restaurant, of course you can build it yourself and be really successful, or you can just go and buy a McDonald's franchise.  You're paying for the system, support and brand recognition.  I'm over 4 years in, have no regrets and would do it over again if I had the choice.  But it just made sense for me given my personality, and my personal situation.  For many, it'll make more sense to go at it another way.  Seems like there are so many ways to be successful in this business!  Probably why we all love it!