Not too long ago, the American Dream involved getting a job, sticking it out for 35 years, and retiring with a gold watch and a fat pension.
That type of job security no longer exists. In recent years, corporate downsizing and departmental shifts have wreaked havoc on long-time employment. And then the Pandemic hit, and everything went out the window. Businesses closing left and right, with no idea if they would open again, shut the door on that chapter of a guaranteed job. In fact, it was estimated at one point last year that 42% of layoffs would result in permanent job loss.
But do not fret! There is an alternative to rolling the “career” dice: Become your own boss!
That’s right…escape that cubicle and set sail on the ocean of self-employment!
Now, there are two ways to go about this. The first is to produce an idea for a business. Then do extensive research on potential demographics, competition, and projected sales. Finally, march into the bank with your business plan in hand and a smile on your face and walk out with the money to start your new venture.
Could it be that easy?
Well, probably not. In fact, starting a business from scratch is a lot like going on a cross-country road trip without GPS (or a map, for us who remember those!).
You can do all the research you want, but there will always be variables for which you could not account. And the chances of getting a business loan that quickly can be slim unless you walk into that banker’s office with the empirical data needed to prove you can take the business to amazing heights.
That may sound like a bucket of cold water being thrown on your dreams, but it is reality. However, there is a much easier way to strive for success as a business owner.
Again, that’s right. Invest in a franchised business. And do not worry, franchising is not just fast food anymore. There are franchises in almost every industry you can imagine. But why is that a better route than starting from nothing? Well, let us count the ways:
Find The Franchise You Love
With over three thousand franchise options available, there must be one that excites you. Chances are that the business you would have started from scratch has a franchise that does the same thing.
The Research Is Already Done
A Franchisor has already spent a lot of time and money researching everything that needs to go into the business. They know who your customers are, what your territory will be, and all the numbers and financing involved to get started. The banker will be happy to see all the info the Franchisor has provided when you apply for your business loan.
Unparalleled Training and Support
Your success is the Franchisor’s success. They have a personal stake in your accomplishments as a franchisee. With that in mind, they will make sure that you, and your team if you have one, have the best training available. They have created systems and processes that will help you take the franchise to exciting heights!
They will also make sure you have continuing support once your doors are open. They do not want to leave you in need.
A Known Brand
The best part of owning a franchise? You are jumping onboard a brand that already has traction. The name is out there, and the recognition is worth more than you can imagine. The bottom line is that you are not starting with an unknown brand on day one, and that can make the road to success much easier.
Buying a franchised business is not a guarantee of success. But it does guarantee that the chance of succeeding is greater than starting a business from scratch.
A final thought: one step to making the road to success through franchising even easier is to start by contacting a professional franchise consultant. It is their job to help you find the perfect franchise for you and take you through all the steps of becoming a business owner. And the best part? The service is at no charge to you.
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact them at firstname.lastname@example.org to find out more about franchising options that are perfect for you.