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.