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.
Alternatives to franchising that do not require as much startup capital include such things as website design and affiliate network use. One great example of this is Iceland travel site Iceland in 8 Days.