Is Owning A Franchise Right For You?

Author: Gerek Allen

Is owning a franchise the correct choice for you and your family as an entrepreneur and potential business owner? Well, the reality is that jobs are hard to find, they pay a lot less than they did before and the economy is forcing people to take matters into their own hands and explore the path of entrepreneurship. Besides, the only true way to live the life of your dreams is to be the boss.


The real question is, 'What's the right business for me?' or 'Is a franchise the right choice for me?'

Here's the truth about franchises. They have a proven track record over a long period of time for one simple reason... A System. System stands for Save Your Self Time Energy & Money. I like that... I like that a lot!

Let's be very frank here. The most successful franchise ever in the world is McDonald's, not because of their 'award-winning' food (even though the fries are pretty good), but because their system is second to none. You can go almost to any McDonald's in the world and pretty much have the same experience.

When starting or buying a traditional business, you most likely will not have that luxury of having a proven system in place. In fact, if you're anything like I was when I got started, you've learned business skills and entrepreneurship along the way. The mistakes you've made have probably cost you a lot of money.

On the other hand, there are some downsides of owning a franchise. You typically have territory restrictions for your business and then of course there's the royalty fees that either are based on gross revenues and some have minimum amounts even if you didn't make 1 sale. You also are restricted in creativity by having to stay within their guidelines. If you're a big 'outside the box' thinker that doesn't like constricting rules and regulations, then maybe owning a franchise isn't for you.

Overall, more than 70% of all franchise owners say they are profitable. That's amazing. Some of the strengths of owning a franchise includes a strong brand name (not always though), amazing training and on-going education, pre-made business and marketing plans, economies of scale in terms of leverage when negotiating for real estate or vendors, and so much more.

Obtaining funding for owning a franchise is typically easier than traditional businesses because banks prefer to lend to proven entities versus the unknown. The process of buying a franchise is very unique in that you'll have the chance to visit the world headquarters, you'll have the opportunity to meet the leadership of the company and you'll be given an FDD which outlines everything you need to know about the business before you sign on the dotted line. You will be in a great position to make an educated decision.

Bottom line is owning a franchise is a solid choice for entrepreneurs who want a good chance of success and who want to truly live the life that they desire.
Article Source: http://www.articlesbase.com/franchise-articles/is-owning-a-franchise-right-for-you-4281551.html
About the Author

For information on a franchise with NO royalties, NO territory restrictions, NO mandatory advertising fees, NO building or office required, NO credit check, NO minimum net worth & is 100% scalable, visit the BizziBiz Franchise information center or contact Gerek Allen to get more information.

Gerek Allen is an entrepreneur, Internet marketer and digital marketing franchise owner.