Human: What are the pros and cons of buying a franchise business? Assistant: 


Pros:

1. Low start-up costs compared to starting a business from scratch.
2. Quicker start-up timeline due to the predefined operational framework.
3. Market reputation of the franchisor.
4. Broader access to capital financing.
5. Ongoing franchisor support and assistance.

Cons:

1. Relatively high initial franchise fees.
2. Ongoing royalty payments to the franchisor.
3. Limited autonomy over the business operations.
4. Restrictions on product offerings.
5. A highly competitive market.