Is it time to buy a franchise?
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Posted On :
Nov-01-2011
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Article Word Count :
564
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If you are considering entrepreneurship as a new career, whether it comes from buying a franchise or starting your own business, it is better to try avoid fogging yourself with uncertainty.
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This is the 64,000 dollars question and the one that I deal with day in and day out. Still, I would like to ask you a question.
Do you think it is time to buy a franchise or perhaps start your own business?
Usually, when I ask this question, particularly, to clients; they tend to feel uncertain. It is a very natural reaction and while it is true, there is no lack of concern regarding the present status of the economy; notwithstanding the brilliant leadership from our elected officials that we hold so near and dear to our heart. But this is a topic for a different day.
But the question still remains the same that is it now the time to get started. The answer to this is that I do not know.
In fact, it is impossible to lock on these types of things and whether you are looking to buy a franchise, a business, or perhaps that “Can’t Miss” stock tip from your broker, you just never know.
So where does this franchise concept leave us? How do we figure out if it is time to get started with a business? How do we carry out the research? What is the best option for me?
It is really impossible to create a standard blueprint as every one of us makes decisions differently. We all have unique skills, responsibilities, passions and dislikes. While working with clients, I have a standard process; however, it has to be fungible in order to address what is unique about the person.
Now, before you start getting all pessimistic about franchise business, I would like to address the question referred in the title of this post, “Is it time to buy a franchise”, or perhaps start a business.
Believe it or not, this is quite easy as the answer is “Yes”. Well, it could be and that is because, despite the uncertainty we all feel, there is ALWAYS an opportunity. That is one thing my Grandfather said that he had spent forty years working on the floor of the NYSE (NY Stock Exchange). He always sold in up markets, bought on the dips and did quite well at it too.
Now, this does not necessarily mean that one should simply jump at the first opportunity they see. In fact, in this type of franchise concept market, it is important to be extra careful with your due diligence. I would not start a business that sells luxury yachts. But how about other industries, such as Senior Care, Child Education, Restoration, Marketing, Staffing and Fitness?
I know people, who have opened many businesses in these industries over the last two years (when the economy was even more uncertain than today) and they are doing very well. Again, this does not mean that franchise business comes without risk, and it does not mean people have not failed; but, it does demonstrate that success is in fact possible.
If you are considering entrepreneurship as a new career, whether it comes from buying a franchise or starting your own business, it is better to try avoid fogging yourself with uncertainty. In my experiences, times of uncertainty can actually be a time of OPPORTUNITY.
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Article Source :
http://www.articleseen.com/Article_Is it time to buy a franchise?_98731.aspx
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Author Resource :
The author of this article has specialization in franchise business. His enormous experience is summed up in the article ‘Franchise Disclosure Document brings the master plans for the Franchise Opportunities’. Along with this he also provides franchise consulting, franchise development and brokerage services to both individuals and fr
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Keywords :
franchise, franchise consultant, franchise concept, Franchise Models, Franchise System, Franchise Brokerage, Business Coaching, Stra,
Category :
Business
:
Advertising
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