Is Buying a Franchise Like Buying a Job?
In the times of economic downturn, everyone is looking for means to ensure their financial well-being. Unfortunately, when it comes to the employees, they are often the first to suffer the consequences of bad market conditions. However, as an old Chinese proverb says, any crisis is also an opportunity. Instead of looking for another job, you should consider buying into a franchise – nowadays, more and more jobless yet ambitious individuals are considering such a possibility, aiming to become successful entrepreneurs bybusiness.
Jobless Seek Future in Franchising
For every argument why having a job is a good idea, there is also at least one good counter-argument. Loss of a certain degree of freedom, inflexible working hours, fixed pay, and working hard without gaining appropriate benefits – these are just few examples of what employees might face.
In contrast, starting your own business byis a completely different approach and this is one of the easiest ways to jump start your entrepreneurial career. This idea is becoming very popular. For instance, people who had a career in business management, but were laid off when the recession gathered pace, are now taking their future into their hands and are buying franchise businesses.
A quick look at the statistics can help to understand the main reason for this trend. With 217,182 workers fired in October alone and unemployment rate at around 10.2 percent, there is an enormous pool of experienced individuals who are now looking for a new direction to go in.business and starting an entrepreneurial career can be the first steps in a promising direction.
There is no guarantee of an immediate success when. Yet, if you have relevant experience and skills, or at least enough determination, you are well prepared for the challenges that you may face. The possibility of success is high, especially considering that the economy is already recovering – and buying into a franchise can be a very good decision. The next section will outline some of the key benefits that enjoy.
Buying a Franchise Business Benefits
Buying into a franchise can provide you with a degree of autonomy that can rarely be achieved in a regular job – you will essentially be running your own business, with some guidance and supervision from your franchisor.
The risk that you would face whenis significantly lower in comparison to starting a business from scratch. Most franchisors are mature and experienced companies, and you will be provided with all the training and support you might need. If you are new to running your own business, getting access to an established business model with all the necessary assistance is a critical factor in your success.
When buying into a franchise, the advantages associated with a recognized and reputable brand name can help you tremendously. For instance, you will benefit from the franchisor’s nation-wide advertising campaigns, which will help attract more customers to your business.
Finally, getting enough money to run a business may be problematic – but if you have the backing of an established franchisor, banks will certainly be more willing to grant you funding. With all this in mind, is there any doubt thatcan truly serve as a great replacement for a regular job?