[Franchy]

Hi, I'm just starting to learn about franchises. I'm wondering what are some of the reasons why franchisees who have been owned and operated a franchise for many years stay franchisees. Why don't people take the knowledge and experience they have gained and make a go of it on their own? What keeps people paying the royalties and other fees associated with franchising?

For full disclosure, I am gathering some anecdotal information for use in a school project on franchises.

Thanks for any insight!