A Testimony : Cyber Security Franchisee vs Own Business
- October 13, 2018
- Posted by: Neil D
- Category: Partnership ,
Why having a cyber security business as a franchisee is better than starting one on your own?
It needs no mention that today, Cyber Security Industry is one of the fastest growing domain in the IT industry across the globe. For those starting their career or for those willing to shift to a different career, cyber security is the best choice in most cases. The same holds true for starting a new business. Cyber security business has a big market need today for services as well as for training so that we can prepare more manpower for the services needed.
The pros and cons of having a franchise vs starting a business on your own are well known or perhaps a lot of articles and advise can be found on the internet. The pros are the standard operating procedures (SOPs), an established brand name, no need for product design or investment on R&D, just to name a few. The cons include lack of flexibility ( you can’t sell Masala Dosa in your own a Pizza Hut franchise ), sharing the revenue in term of royalties as well as restricted creativity ( which perhaps is not a negative point as it gives safety to your business by following proven standard procedures only )
However in case of cyber security, it is even more important to partner with someone who is already established in the industry. Why? Because of a lot of reasons. for example
- The investment in R&D is high. Being a new and fast growing industry, just to stay up to date itself will require a lot of skill, time and effort.
- Also, for execution of cyber security services and training, hiring the right staff on your own can be a big challenge ( definitely more difficult than hiring someone for Pizza delivery ).
- Then a constant mentor-ship from the franchiser will be required both of business operations as well as technical execution. The staff will need to stay in touch with R&D team.
- The market research, to identify the market needs for new offerings will require much more effort compared to launching a new flavor in an ice-creme franchise.
- What about handling pre-sales queries?
Hence while we say, having a franchise is generally better in any business, specially for new entrepreneurs, the need for such partnership is even more in case of industry like cyber security.
That is the reason why I, the current owner of CSSRL Accredited Extension Center Pune, even after having almost two decades of IT industry experience chose to partner with CSSRL rather than starting on my own.