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Borrowing and franchising

We at EvilJoy were tempted to write a feature about franchising. It is one of the easiest ways to start your own business - you need cash, but you receive already proven concept and some tools to get you started (and supported).


Business information about franchising is widely available: i.e. Entrepreneur and Startup magazines are US focused with some quality websites in the UK - FranchiseDirect.

EvilJoy is an idea generation community site that is focused on new idea generation and putting your passions on the front line, we believe that though franchising can prove to be easier option (somewhat safer even), it is about taking somebody else’s idea, but also having a lot of limitations to what you can or cannot do.

Do we support idea borrowing? Oh yes, we do indeed!

 

Yet we do want it to be based on you, your own ambitions to become happier and live your passions through the business.

You can think of existing businesses, borrowing their business models or concepts, but changing it to add extra value or benefit.

You can also think of stealing the ideas from the ones you admire.

 

In example, we thought of Sir Richard Branson - what ideas can we take from their Virgin Wines business and the concept of ‘Fabulous Wine Advisors’? Can they advise on the spot or can we introduce a live chat advisory service?

A famous economist and writer Richard Clemence once said that 'originality is about new combinations and not creating something out of nothing'.

We believe that it is true, look at the likes of Mozart who creatively borrowed from Bach.

You can also use an existing idea from another industry. Even though we do not buy wine tetra-paks, but they are sold in supermarkets. It was an original idea based on a combination of concepts.

 

Think about existing ideas, combine a few together to form a new concept. Basically if you want to become an entrepreneur you don't really need an original idea, it can be borrowed.



12 Jun 2014

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