Every time you turn on the television or pick up a newspaper, you hear new reports on record unemployment or corporate downsizing. The economy has impacted almost everyone from high-level corporate executives to middle managers to recent college graduates. If you are affected, the traditional approach has been to immediately send your resume to multiple employers in hopes of landing your next job.
Instead of hoping for that call from a potential employer, many Americans have made the decision to become business owners. So you if that’s you, the big question is “Is it really for me?” First ask yourself these questions: 1) Am I self-motivated; 2) Do I enjoy customer service and sales; 3) Am I responsible, organized and persistent and 4) What is my tolerance for risk?
There’s a great feeling of satisfaction generated from starting a business, but it also comes with its share of responsibility and risk. Many individuals who have taken that leap of faith have enjoyed great financial security, work-life balance and professional success.
A September 2009 USA Today article stated that starting a business from scratch or buying a franchise has been the way to economic recovery for many Americans. The author writes, “Job seekers who gained employment in the second quarter of 2009, nearly one in 10 — did so by launching their own businesses.”
One popular method of business ownership is purchasing a franchise. There are unique differences between buying a franchise and starting a business from scratch. Franchise owners receive a proven business model, an established brand name and a built-in support system in exchange for paying the franchise company a monthly royalty. When starting a business from scratch, those capabilities must be built over time.
Due to the current economic climate people are forced to reevaluate their career. Establishing a franchise has become a popular choice that has allowed people to achieve financial, professional, and personal success.
Banks are beginning to lend again and additional governmental incentives are becoming available. Whether purchasing an established franchise model or starting your own business, becoming a business owner gives you control over your career, provides personal satisfaction and financial security. 2010 is shaping up to be an exciting time for prospective business owners. You’ll probably work longer and harder than you ever have before, but you’ll enjoy it more…because it’s yours
by Darian Richardson
RMC Franchise Connect