One of the Most Important Decisions Before Starting Your Own Business - Franchise Business Source


One of the Most Important Decisions Before Starting Your Own Business

One of the Most Important Decisions Before Starting Your Own Business

25 February, 2020 0 comment

Many people have considered starting their own business. Whether it’s the proverbial lemonade stand or the air freight company based on a Yale undergraduate term paper, business ideas are dreamed about or pursued daily.

Among the initial questions you need to ask yourself is whether you’ll start a business from scratch or fulfill your entrepreneurial desires based on someone else’s business idea.

The allure of launching your own business typically begins with a unique product or service that no one else has considered creating and selling. Although you’re headed into uncharted waters, there’s an impression that you can make it on your own.

Some of the small business statistics, however, show it’s easy to fail without the guidance and support you receive from a franchise organization. For example, a Small Business Trends report[1] lists the top ten causes of small business failure. Six of the causes, including the top two (no market need; ran out of cash), would likely be avoided by entrepreneurs choosing to own a franchise rather than starting from square one.

Merits of Owning a Franchise

Many people that ponder business ownership are petrified by two thoughts: financial risk as well as a perceived lack of competence in most aspects of running a business.

To reduce the terror of those two risks, franchises give you:

  • A proven product or service to sell plus ongoing product expansion.
  • Your expected investment amount and financing options for the long haul should worst case scenarios arise during the startup years.
  • Management and employee training in addition to technical support so you can focus more attention to general business operations knowing you have a competent staff.
  • An established brand with marketing ideas and execution assistance.
  • Relationships with suppliers and discounted prices through the collective franchise businesses.

In summary, a franchise provides you with a proven business model that has clearly worked for others. They also give you partnership guidance from the home office as well as from other owners like you. Not many entrepreneurs who start their own business receive invaluable support from people who have been there, done that in the same business you’re running.

Free and Personal Advice to Help You Find an Appropriate Franchise Opportunity

Once you’ve decided to pursue franchise ownership, avoid searching and evaluating franchises on your own. Save your investment of time and money for a franchise purchase after allowing a franchise consultant – like me – to help you.

Franchise consultants are able to use their comprehensive franchise knowledge to filter through hundreds of business ownership opportunities in days instead of months for someone new to the process.

After the franchise consultant exerts the effort of finding appropriate franchises – at no cost to you – they’ll present a handful of possibilities matching your financial needs, engagement level, experience, and interests.

So, put your fears aside and pursue business ownership with a franchise consultant like me who knows firsthand that you’re making one of the most important and exhilarating decisions of your life. Call me, Jeri Lucco, at 614-768-3884 for a free, no-obligation discussion. Together we’ll consider your entrepreneurial goals and review franchises matching your needs.


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