Franchising could be what you are looking for, and maybe 2015 is the year to get into franchising. For many people, the idea of working for themselves and owning their own business is beautiful, but way too intimidating.
There is a happy medium of being independent but not having everything on your shoulders, and that’s a franchise. You basically buy one of the stores of a corporation, follow its guidelines and get a piece of the sales after the corporation gets its cut. So should you do it?
As the following article looks at, here are 5 reasons to get into franchising today:
- You want to work for yourself but without all of the risk – You do have some say so by owning a franchise, like whom you hire and fire, but you don’t have all the responsibility of starting a business. Remember, though, you don’t have full reign, for instance; stores usually have a set way they are decorated and things that are offered. Many people like this because the tough decisions are already made. The risk is much lower than starting your own company because a franchise is part of an already established business brand.
- You are motivated and enjoy working hard – For many, the day to day of an office job is tedious and well, boring. With a franchise, you get to wear many hats and work hard. People rely on you, and you interact with the main corporation; again it’s like running your own business but with built in support.
- You get training and support – Along with the guidelines of how to run the franchise; you’ll get training and support. Most good franchises offer upfront training and ongoing support, so if you get in a bind or have an issue or problem, the support staff is there to help you. This isn’t something you’ll find in owning your own business.
- You’re looking for an investment – For some, a franchise is an investment, not just a job. Maybe you’ll keep your current job and work on your franchise, too. That could keep you really busy, but you can make a lot of money from franchising wisely. Say you just inherited a chunk of cash from Aunt Mary and you’re not sure what to do with it – a franchise may be calling your name.
- You can grow with it – If you buy one franchise and it’s successful, you can buy another, and another … Many very successful franchise owners own more than one store and since they know what they are doing already, each one is easier, though it may offer its own challenges.
Remember, even though there are lots of positives, owning a franchise is not always easy. You’ll run into challenges and you have to have the money to invest upfront.
However, the name is already there with proven success, and you have support.
Maybe it’s time?
About the Author: Heather Legg is an independent writer who covers topics related to social media, owning your own business and working from home.