There is one option, though, if you don't have either of those things - a franchise. Owning a franchise is that same thing as owning your own business. The only difference is that you are buying into an already existing chain.
This may not be everyone's dream scenario, but there are some stark advantages owning a franchise. It does pose the same responsibilities that a traditional business owner has. The following are three reasons that you should consider buying into a franchise.
|Pizza chain franchise, anyone? :)|
One of the biggest variables when it comes to owning a business is whether or not people will want to buy your product. This problem is completely alleviated when you buy into a franchise. Any company that can afford to franchise their store has obviously had a track record of success in the markets they are already in. The main concern when it comes to reaching customers when your franchise is just finding the right location.
You may not have experience running your own business yet. Franchise opportunities usually have a training program for new owners that helps get them up to speed. It will also teach you to follow a company protocol for operations. You may wonder why they want all their stores to be run the same way even though other people own them. They do this because they program they have developed has a proven track record of success with the company so far.
A company like Meineke offers their franchise owners a full marketing package to help them get their business off the ground. Like other aspects of the business, the marketing all uses techniques that have proven to be successful in other markets. A lot of people don't understand how to properly advertise an auto repair franchise at first. This can lead to a huge waste of money. Avoid this by buying into a franchise.
The first thing you should do when thinking about buying into a franchise is to decide what style of business you want to be in. It is important to do something interests you. A franchise is an affordable way to become an entrepreneur with some distinct advantages over start carte balance.