These tough economic times have left many people unemployed and feeling out of control over the lives and their careers. These are difficult times and many are looking at opening their own business as an alternative to unemployment.
There are three options for owning your own business:
1. Start a business from scratch 2. Buy a non-franchised business 3. Buy a franchise business
Franchising has been around since the dawn of time in one form or another. Compared to an independent business a franchise has a lot to offer. Letís look at some of the advantages of a franchise.
Franchising focuses on minimizing your risks and maximizing your returns. When you choose to buy a franchise, you are in business for yourself but not by yourself.
A top-notch franchisor will provide a solid business system, proven research and development, instant credibility, recognized marketing methods, extensive training, and ongoing support. All these work to reduce your risk and help you quickly build a successful business.
When it comes to franchising itís not about the little picture, itís all about the big picture or the big idea. As an entrepreneur, you may have all the energy, ability, and ambition needed to succeed; however, you may not have a persuasive concept you can sell, so your business falters and goes nowhere. As a franchise owner (franchisee), you are in a position to leverage innovative products and services.
When you start a business on your own there is a huge learning curve for every type of business. When you buy a franchise, the franchisor already has all of this in place and now they are going to share all this information with the franchisee.
You as the franchisee succeed because of the franchisorís resources. Their business plan and business strategy are already a proven success, and you as an entrepreneur simply need to adopt these practices to enjoy success. Few independents can say that.
The cost of starting a business from scratch can be very high, and so can a franchise. However, the difference is the franchise has a proven track record and the independent business is learning through trial and error, which can be very costly.
Franchising is not right for everyone and no business model is perfect. Franchising has its pros and cons.
However, if youíve always wanted to open a business, franchising may be the right option for you. It has plenty of appeal and may be the perfect solution to get back control of your life and your future.
More on How To Be A Successful Entrepeneur > HERE <
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