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business

Is Franchising right for you?

April 29, 2016

Being without work can be a difficult position to be in. You get frustrated at the lack of jobs that are available along with the benefits and pay that are offered at the ones that are available. When you lose your job, it can feel like you’re starting all over again. This may make you feel like it’s time to finally start that business you had always thought about. However, how do you know if that’s really for you and if you can be successful at it? Overall, the biggest question you must ask yourself is, “Am I willing to work really hard at this business?” If not, then don’t even waste your time. Owning or running your own business takes a lot of work and dedication, especially when getting started. If you’re willing to take on that work, then you’re ready to start your own business.

Many people look to what is called “franchising” in order to start a new business. Some examples can be opening a McDonald’s or taking on direct sales such as Plexus, Mary Kay, etc. Franchising can be a great way to get the job you want or need without going through the dozens of interviews and dealing with having a boss. The perks of owning your own business include being your own boss and calling the shots/making your own hours, etc. Another perk to franchising is the fact that you get to choose what your business is and what it does. For example, if you want to start a new business that doesn’t take a lot of money to get started and most of the advertising is already done for you, then direct sales would be your best bet. These involve small fees to get started and the company basically has a business plan already setup for you, you just have to do the work to get your name out as a representative. It’s up to you how much money you make from these companies and most of them have some pretty neat incentives for milestones within your selling goals. The only downfall to direct sales is the fact that there can be quite a few representatives for these companies making it a very competitive business. Therefore, looking for a company that isn’t as represented in your area is the best way to ensure more sales in this line of work.

Another, and larger, version of franchising is starting up a chain store. For example, opening a McDonald’s or even a smaller company like Minute Man Press. These cost a lot more to get started but they also can bring in more profit than direct sales. Entrepreneur.com states that statistics show over 50% of food franchises bring in an average of $83,000 profit a year. This is a far cry from starting over with a minimum wage job.

Overall, franchising can be a great option for anyone needing work, however, the only thing that would stand in your way from it being a wonderful opportunity is you. If you’re willing to put the effort in, it could be an amazing opportunity.

Is Franchising right for you?

  • Reply
    Sarah Bailey
    April 29, 2016 at 3:32 pm

    Going into a franchise sounds like a really interesting idea for those who can afford. After all people are more likely to come to you if they know the name. x

  • Reply
    Jeanette
    April 29, 2016 at 3:47 pm

    My husband and I were out of work we did look into doing a franchise but unfortunately at that time we were not able to pull the money together to buy a franchise. I think it’s the right thing for the right person but you have to want to work really hard.

  • Reply
    Pam
    April 29, 2016 at 3:53 pm

    I actually know someone who owns several franchises and is really successful with it. It can be a great option if you are able to put forth the time and money to get it off the ground.

  • Reply
    Angelic Sinova
    April 29, 2016 at 5:05 pm

    I own someone is thinking of franchising a McDonald’s within the next year. She’s been doing research for about two years now and thinks this is the best move for her. I’ll definitely pass this post her way <3

  • Reply
    Liz Mays
    April 29, 2016 at 8:39 pm

    These are some great points. I can see it being a good opportunity. Popular franchises do a lot of the advertising for you.

  • Reply
    Eloise
    April 29, 2016 at 8:48 pm

    Ha! this couldn’t have come at a better time! I was a stay at home mom (until this school year, both kids are in school all day now!) as well as in recovery from a major illness I was born with… I am now able to work (my goal/ dream job is to blog and write books as a full time job, which I’m working really hard at now!) In the mean time, I will have to get a good paying job to support my 2 kids and I, as my divorce becomes final soon! I will have to check up on this franchise opportunity! thanks for sharing!

  • Reply
    Clara
    April 29, 2016 at 11:45 pm

    Not sure if I’m cut out for a franchise opportunity, but I know several people who have been successful with theirs.

  • Reply
    Nickida
    April 30, 2016 at 2:56 am

    I think for most people if money wasn’t an issue, this is a great way to get started with owning a business. I would do it for sure if I had the money.

  • Reply
    rika
    April 30, 2016 at 2:56 am

    Franchising is pretty expensive. My sister was very interested to invest her money, unfortunately it was too expensive

  • Reply
    Bella B (xoxoBella)
    April 30, 2016 at 5:23 pm

    Informative post. I am not sure that this is anything that I will ever venture into, but I have always wondered how it works.

  • Reply
    Kiwi
    May 1, 2016 at 5:58 am

    Look Ive always said if I had some extra funds I would franchise my own Chipotle or Starbucks or Chick-Fil-A. I still have those dreams its a goal of mine!

  • Reply
    Giannina Guy
    May 1, 2016 at 6:45 am

    This is such a good option for the someone prepared to put in the work (and money) for it. As you say, it beats taking on a dead end job!

  • Reply
    Mimi Green
    May 2, 2016 at 5:32 pm

    Franchising is certainly not for me, but I am slightly fascinated by it. My OCD says I need creative control. lol

  • Reply
    Adrienne
    May 4, 2016 at 2:32 am

    Franchising sounds like a great idea. I’ve thought about franchising a restaurant in the past. Who knows, maybe I’ll end up going that route.

  • Reply
    Jessica Simms
    May 4, 2016 at 3:11 am

    As much as I would love to, I don’t think franchising is for me. I wish I could though, it would be so much fun to own my very own Starbucks!

  • Reply
    Raquell
    September 15, 2016 at 2:33 pm

    No way, franchising keep beeing the best option for who is thinking in open your own business.

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