Four Reasons to Buy a Franchise now
“Never put off till tomorrow what you can do today.” Benjamin Franklin
This may be the best time to buy a franchise. Are you ready for a new adventure, in a career transition, or just bored with your corporate job? Perhaps you are working more hours than you signed up for and rarely have quality time to spend with family.
The Franchise Industry is Growing
The franchise industry is growing as more and more people decide to change their lives through business ownership. Emerging brands are bringing exciting concepts to the market and selling out territories quickly. If you have dreamed of owning a business yet want the guidance of a franchise brand, don’t put off your search for the time to buy a franchise is now.
There is no “perfect” time to start a business, however, if this is your dream, you must motivate yourself to move forward so you don’t have to live with regret.
Following are four reasons to buy a franchise now:
1. Opportunity cost
The longer you delay, the longer it will be before you start seeing a return on your investment. For every day you put it off that is just one day longer till you can open your business and start to reap the rewards. Sometimes people put off their decision because they feel they may be more prepared if they delay. However, it can be like an artist when they paint a picture, it will never be complete – or an author whose writing is never good enough; push yourself to move forward and open the doors to your dreams.
2. Have a plan and prepare with knowledge
Don’t let fear get in your way. Fear is another reason people put off their decision. Fear of the unknown, fear of what might or might not happen. The best way to get over the fear is to have a good plan, complete lots of research, learn as much as you can about managing a business, and obtain expert advice. Your franchise consultant will help alleviate those fears by presenting you with franchises that will help you meet your goals.
It’s also important to realize that everyone who starts a business deals with that fear at some point. Know that it will happen and be prepared for it when it does, then move forward with your plans. Consider your options – what happens if you do? What regret will you have later if you don’t?
3. Consider the Rewards
Consider the rewards. Why do you want to own a business? Most people want to control their destiny, be their own boss, build equity, and obtain more flexibility. One of the most common reasons I hear is, “I want to work hard for myself, not someone else”. If this is your dream and you have the skills and have prepared for your venture, don’t put it off till tomorrow. Tomorrow may never come.
4. Questions can be answered through the franchise investigation process
One way to take the guesswork out of your business option is to consider a franchise. With a franchise, much of the preparation is done for you. Many of the questions you have, can be answered through the franchise investigation process. As a franchise consultant, I guide you through this process. My goal is for you to have your questions answered before you make a decision.
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Trish Benedik owns Select Franchise Consulting, a business that helps those looking to own their own business discover a franchise or business opportunity that is a good fit. Through creation of a personal profile based on 10 key criteria, we are able to find franchise options that meet your goals. In addition, our service provides information, and guidance through the franchise investigation process. Check out our website at Select Franchise Consulting .