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being your own boss
income source
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business owner
Franchising Makes Sense To The Savvy Business Owner
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In business "but not by yourself" is a very enticing franchisor ploy to a first time entrepreneur. Actually, there are many searsoned business owners who like the franchise option vs going it alone. Maybe there's comfort in being part of a bigger enterprise or a feeling of security or greater potential for success with a franchisor.

Going into your own business is not always a good decision. Easily, it can be your worst decision for a variety of reasons. You need to answer a lot of questions in advance of thinking about being your own boss. Your experiences, talents, skills fall near the top of the scale. Money is an obvious consideration, too.

Everyone is not cut out to be an entrepreneur or a business owner. Sure, if you have unlimited funds and can hire the expertise needed, go for it. Our focus is on the "average" guy or gal who thinks owning their own business is in their future. Sometimes it's in the "genes" or family tree. At other times, it's all about the money.

Don't do it for the money! If you first think about your skills and abilities it means you're on the right track. Ask yourself why? How? When? plus talk with successful business owners. Learn about the experiences others in business have had, how they handle employees, customer service, technical and mechanical challenges depending on the type of business. Would they hire YOU? Be your mentor?

In our opinion, you need to think about what you LOVE to do. Your next question is.... can you turn a hobby, an interest or your experiences into an income stream needed for your financial security. Just because you like to sing or ride motorcycles, drive race cars, cook, bake cakes, etc.... you get the picture.... play football, the piano, etc. For the majority of people, some of us, the challenge is becoming a "star" able to turn our hobbies into an income source.

We've owned franchises in our business career as well as non-franchised businesses. What would I do today is a good question but my answer may not be right for you. In simplest terms, I would go to work for another franchisee or the franchisor if possible BEFORE pulling out my checkbook. Maybe even work free if necessary to get a good dose of exposure to the business.

For a non-franchise it would mean I've spent a considerable length of time in the same industry working for someone else on their invested dollars. There are reasons this can happen for you but only do it for the right reasons, not to take business away from your employer. Integrity and trust are mandatory ties to success in whatever business you choose. You may want to try a home based business where many are turning today.

Street Talk

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