The 3 ways to get into your own business
If you are at the point in your life in which you are starting to think there must be a better way to earn a living, read on......
When I do seminars on franchising, I always describe the three ways in which one can get into their own business.
They are:
1. From scratch
2. Purchase someone else's business
3. Invest in a franchise
Let's look at the scenarios
You start a business from scratch. Bill Gates did it. Do you have an idea for a service or product? Hardest way. Biggest potential. Do you have the courage?
You could buy an existing business. If you make this choice,the key word to remember is “patience”. Things like waiting for the seller to release his or her financial s, settling on the purchase price, obtaining financing {especially if the finances do not look great on paper!}, and hoping the seller still wants to sell after it is all said and done.
Or....you could invest in a “franchise”.It could be a way to get started on your dream, faster. There is of course a “system”, a marketing and advertising plan, formal training, infrastructure, and other like minded people {hopefully just like you} to talk to and learn with.Of course it could turn out to be a total disaster if it is the wrong franchise for you, or if you chose it for the wrong reasons. Franchising is not perfect.
These are the three ways to get into business. There certainly are positives and negatives to ALL of them. Care to comment?
