Resumen
The decision to buy a franchise, start a new independent business, or buy an existing business is a critical decision faced by entrepreneurs. This study uses the Resource-Based View (RBV) of organizations to compare franchisees in the startup phase to both entrepreneurs who start new independent businesses and entrepreneurs who purchase established businesses. Our analysis of U.S. data from the Kauffman Firm Survey found similarities among those starting franchises and purchasing existing independent businesses. Implications for future research and practice are discussed.