Home-based franchises have some real advantages. If you go with a home-based franchise opportunity, you don’t have to rent an office, commute, or deal with all the myriad issues that go with a business location.
It is easy to see why getting franchise loans may be somewhat easier than gaining financing for other types of small businesses. Franchises, to some degree, come with their own set of marketing research and sort of a ready-made business plan that takes a lot of work out of the business owner’s hand. It also mitigates a lot of risk for the lenders.
There are many advantages to buying a franchise over starting a business from scratch. Ordinarily a franchise offers the owner a degree of security and stability, with help, advice, and support at hand should any problems arise. There are drawbacks, however, such as the restrictions on what you can and can’t do with the business being a prime example.
The American Dream—owning your own business—is the source of plenty of great stories. One is the story of the technician: the lady who makes such great cupcakes that all her friends encourage her to open a bakery. The alternative is the executive style franchise.
If you are reading this, you are thinking of jumping off the treadmill and going it alone. Congratulations! For me, starting a business was the best career decision I ever made. The second best career decision was buying a franchise. Is a franchise right for you, though? That depends.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.