Lots of professionals have dreamed of owning their own businesses, but everyone doesn’t have a ready-made business idea. Entrepreneurs can still find success by running their own franchises. Is this the key to simple self employment?
What is Franchising?
Who hasn’t heard of Subway? Haagen-Dazs? Starbucks? Each one is a well-known brand offering well-liked products, and each one is a different franchising opportunity for business-minded professionals with the will and means to take advantage. Entrepreneurs can choose to invest money to purchase a franchise in many different industries, receiving a business model, products and even guidelines to help them make their business a success.
Entrepreneurs who purchase franchises will have a few distinct business advantages. In many ways, running a franchise is different from starting brand-new businesses from the ground floor. Why franchising? Find out how this business model is a little different:
- A brand name. By opting for a franchise, business owners can take advantage of having a well-known, liked brand name. In some cases, it may be easier to gain a customer base with a brand name than to establish a brand-new, completely unknown name.
- Proven business model. Often, franchises come with a business model for owners to follow and take advice from. Having well-established, proven practices to follow can be a big help when creating a new business.
- Proven products and/or services. Franchises also offer something very else very useful: proven products and services. A great number of patrons have heard of and enjoy Starbucks coffee, for instance.
Simple Self Employment?
There are dozens upon dozens of potential franchise models out there- everything from consulting services to chain restaurants. This means that business-oriented professionals interested in most any field could find opportunities among franchising, proven names and business models that will help them establish a potentially highly successful company. It’s hard to create any kind of business, but having a proven name can make the road seem a little smoother.
However, there isn’t any really simple way to become self employed. Starting and running a business, whether it’s a popular and proven name or not, is a massive undertaking. It takes a lot of hard work, promotion and sheer sweat to make any company become a success- and even then, sometimes luck can be a huge factor as well. There’s no surefire route to success or self employment, and no business will be guaranteed. Franchising can be a good choice for many entrepreneurs, but any business takes a lot of time and hard work to have a chance for success.