{"id":2975,"date":"2023-02-19T16:11:14","date_gmt":"2023-02-19T16:11:14","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/putting-it-together-business-ownership\/"},"modified":"2025-05-22T14:48:12","modified_gmt":"2025-05-22T14:48:12","slug":"putting-it-together-business-ownership","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/putting-it-together-business-ownership\/","title":{"raw":"Module 7: Get Stronger","rendered":"Module 7: Get Stronger"},"content":{"raw":"

Why shouldn't you buy a franchise?[footnote]Code Wiz<\/a>;\u00a0Ewen, Beth. \u201cFrom \u2018Dirt Poor\u2019 to Dream for Code Wiz Founder.\u201d franchisetimes.com, October 27, 2021. https:\/\/www.franchisetimes.com\/franchise_times_cover_stories\/from-dirt-poor-to-dream-for-code-wiz-founder\/article_517ee590-31db-11ec-9e9d-2fed5347a034.html;\u00a0Small Business Administration. \u201cBut Why Buy, Create Your Own Franchise! | U.S. Small Business Administration.\u201d Accessed April 11, 2023. https:\/\/www.sba.gov\/success-story\/why-buy-create-your-own-franchise[\/footnote]<\/h2>\r\n

Before you jump into buying a franchise and boxing yourself into the franchise's rules for how to run your business, consider whether you have a business idea that you can grow yourself.<\/p>\r\n\r\n[caption id=\"attachment_5840\" align=\"alignright\" width=\"213\"]\"Ruth Figure 1. Ruth Agbaji founded her own business rather than buying a franchise.[\/caption]\r\n\r\n

Ruth Agbaji is the founder and CEO of Code Wiz<\/a>, an education franchise that runs classes about coding and robotics for people between the ages of 7 to 17. Ruth was born in Nigeria and she recalls that when she was growing up, it was common to have to walk for miles for water and there was no reliable electricity. Conflict between Boko Haram and the Nigerian army created an environment of dangerous violence. While she attended college in Nigeria, she taught herself how to code with the help of a mentor in India. She developed an app for her department which would allow teachers to give tests online. Since each teacher typically had up to a thousand students, her solution would save teachers\u2019 time and improve their efficiency.<\/p>\r\n

Ruth emigrated to the United States to attend Tufts University and earned a Masters in Computer Science. She worked for large tech companies such as Microsoft and Kronos. Because of her entrepreneurial spirit, she wanted to inspire kids to be excited about technology. Ruth visited a Small Business Development Center in Massachusetts to get advice about purchasing a STEM education franchise business that focused on coding. The business counselor that she met with considered Ruth's background and skills and asked, \"But Ruth, why exactly do you need to buy this franchise? Why can't you just do this on your own?\"<\/p>\r\n

Ruth started Code Wiz working with lenders she found through the Small Business Administration and also received mentoring through the Small Business Development Center. Ruth's goal was to empower kids to connect with technology in meaningful ways that have a lifelong positive impact. She started her business in 2017 and grew her business to a point where Code Wiz was acquired by Toronto-based Tutor Doctor 2021. As of July 2023, there are 32 Code Wiz locations across the U.S.<\/p>\r\n

Ruth's experiences have led her to believe that you can do anything if you put your mind to it. It's that entrepreneurial mindset that continues to motivate her today.<\/p>\r\n

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Selling Out<\/span><\/h3>\r\n

Considering the acquisition of Code Wiz by Tutor Doctor, what are the implications and potential advantages or disadvantages of selling a successful franchise business to a larger company? How might this impact the future direction and growth of Code Wiz, as well as Ruth Agbaji's role and entrepreneurial aspirations?<\/p>\r\n

[reveal-answer q=\"544084\"]Click to Show Sample Answer[\/reveal-answer]
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Being acquired by Tutor Doctor may provide Code Wiz with access to additional resources, such as financial capital, operational support, and industry expertise. This could accelerate the growth of Code Wiz. Tutor Doctor's existing network and market presence can provide Code Wiz with broader exposure and access to new markets. There might be potential for cross-promotion, cross-selling, or collaboration between the two brands, enabling them to offer a more comprehensive range of educational services and capitalize on shared strengths and customer bases.<\/p>\r\n

At the same time, Ruth may have to relinquish some degree of independence and decision-making authority. This could mean being subject to Tutor Doctor's corporate policies, strategic direction, and operational requirements, potentially limiting the ability to develop her own ideas.[\/hidden-answer]<\/p>\r\n

Learn more about how you can connect with experienced business mentors through SCORE<\/a>.<\/p>\r\n<\/section>\r\n