Every year, the dream of owning a business is realized by hundreds of thousands of Americans. The potential freedom and flexibility that being your own boss offer is a strong lure. But, the million-dollar question is “How do I find the right business for me?”
There are two business models to look at when considering business ownership as a career option. One is to start a business from scratch, doing your own research, marketing, and footwork before opening the doors. The second more attractive option is franchising.
Franchising can make your path to ownership easier. The franchisor has already developed the processes which make starting a business much simpler. Also, you have an already well-known brand from day one.
How Do You Find the Right Franchise to Invest In?
The easy first step should be to connect with a professional franchise consultant whose mission it is to guide you through the entire process. They will help you determine which franchise is perfect for you by examining certain areas of your life and answering some important questions.
We’ve compiled a few of those areas here.
Goals
When looking at franchising, you’ll want to answer the question “Why?” You’ll want to honestly examine your goals when it comes to why you want to own your own business.
Is it to create more freedom and a flexible schedule? Is it to spend more time with your family? Is it to get out of the rut of a 9-5 job and escape the cubicle?
We all have our own reasons for wanting to start a business. If you know what your goals are upfront, then it makes the franchise selection process easier.
Expertise
There are over 3000 franchise opportunities out there. This is great news because it allows you to find a franchise that matches perfectly with your area of expertise!
Are you good with cars? There are great franchise opportunities in automotive repair. Are you good with your hands? There are many opportunities in the home repair and handyman fields. Are you a fantastic teacher? Then consider a franchise that tutors children and/or adults to help further their education. The options are almost endless!
But here’s the really good news: There are many franchises available that allow you to own the business with absolutely no experience in that field whatsoever! You hire managers and experienced employees to take care of the normal day-to-day operations. This truly opens up your possibilities!
Lifestyle
How do you want your business to affect your lifestyle? Some call it work/life balance. Whatever label you put on it, it’s an important area to consider.
- Do you mind working 7 days a week, or prefer a Monday – Friday career?
- Do you like working by yourself, or would you like to be surrounded by employees?
- Do you have a family that you need to make time for?
- Do you want to work from home, or have a brick-and-mortar business?
- Do you want to be a “hands-on” owner, or would you like to own the business from a distance while managers run it daily?
These are just a few of the questions to ask yourself as you’re trying to find the franchise that will fit your desired lifestyle.
We hope this small checklist helps as you’re beginning the search for the franchise opportunity that works for you. And don’t forget…a franchise consultant can help you with the entire process, from finding the business that’s right for you, to obtaining the financing, all the way to the day you hang the “Open” sign on your door.
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact them at info@franchisematchmakers.com to find out more about franchising options that are perfect for you.
