Many of us started working at least part time as teenagers. For the better part of our working lives, most people work within a corporate system at a variety of jobs and companies. After a few years, or even a few decades, working for someone else can be tiresome.
This exhaustion with corporate life is what leads many people, often in their 40s and 50s, to invest in their own businesses. But how do you get started?
Starting a Business
For many, the idea of starting a business brings with it both excitement and worry. There are a few questions that you should ask yourself before you start a business, including:
What is my business idea?
How do I set myself apart from other businesses?
What do I know about real estate, marketing, advertising, bookkeeping, human resources, taxes, management, and any other aspect of owning a business?
Answering these questions is difficult for most people. Indeed, not everyone has a business idea that they feel confident in. In addition, it takes a lot to know about every aspect of business ownership.
For those of us who don’t have a million dollar business idea, investing in a franchise is a great way to balance the independence of owning a business with a corporate system that has experience in getting started.
Franchise Opportunities Abound
The franchise industry is huge, and businesses in every category are breaking into franchising. Finding a business that fits your skills, needs, location, and means is not only possible, it’s pretty easy.
There are a number of resources that can help you learn about franchises in different industries. Hot dog franchises, business services franchises, carpet cleaners, sign makers, pest control, you name it, all of these business ideas are looking for franchise owners.
Research, Research, Research…
Because there are so many options, it’s important to thoroughly research them to decide what franchise opportunity best fits your personality and lifestyle. We recommend taking personality quizzes, learning about industries, reading reviews online, and talking to people you know and trust about this big decision.
After careful research, determine the criteria that you want your franchise to fit. Do you want to be able to work your corporate job while you get your business off the ground? Do you want to sell a product or service that you use? Do you want to invest in a business with a name that you recognize? These are just examples of the criteria you may want to consider before you invest.
For example, say you want to follow the criteria we just listed, and you have found a hot dog franchise that allows you to work part-time at the beginning, sells a delicious product that you love to eat and has a name that you knew before you started your search. If the hot dog franchise fits all your criteria, then it’s a good investment for you.
What Is There to Like about Owning a Franchise?
A common question about owning a franchise is, “How is it different from starting a business?” There are a number of unique benefits as opposed to starting a business from the ground up, though in many ways they are similar.
it means that you will have a huge network of people—fellow franchise owners—who do the same work as you, but in their own way on their own terms.
it means that you can glean marketing strategies and operational techniques from an established corporate network.
it means that you have creative control over your business.
it means that you are directly affected by every business decision you make and how hard you work—for better or for worse.
In short, if you are tired of working at a job that leaves you uninspired, there are boundless franchise opportunities. Some proper research and dedication go a long way in starting a business and working at a career that matters to you.