After having worked for 5 to 10 years in any corporate job you are maybe getting bored. There is not much more you can learn. And you may be ‘fed up’ and frustrated of seeing the best part of your life invested in someone else’s dream. When are you going to start your own home business? You’ve been dreaming about it long enough. It’s time to get free!
Maybe you have been looking into franchise opportunities like Subway or others. The advantage is, like all franchises, you have a step-by-step proven method to follow. Though most businesses (80%) that get started today will go under in the next five years it is not the case of the franchise model.
(It’s like you decided to go from the East to the West coast and you only have 20% chance of getting there). If someone decides to get into a franchise, the banks will be more ready to finance because according to the statistics, there is 85% chance you will succeed.
The following are some of the advantages of a franchise business model:
They guarantee the results if you follow carefully the step by step process
They have coaches to help you every step of the way
The product or service has already been tested and ‘good to go’
You have the proof that it works with hundreds of success stories of other entrepreneurs who have gone before you.
They do the market studies chose the most profitable location for your business.
But there is a sizable financial risk involved and the banks may finance (if you have collateral). And are you willing to quit your job, work 12 hour days and not see your family for a while for this so called freedom?
I know a guy called Dave who worked 12 hour days for a boss for 20 years. The boss wanted to retire so he sold his company to Dave who was operational manager for this construction company together his two colleagues (the financial and administrative managers) Five years later they turned around and sold it for tens of millions of dollars and Dave was able to retire young, travel where he wanted, do charitable giving, do some mission work, financial counselling and build his dream home. He lives off of his investments.
That said he only became free when he SOLD his business. As for the time he had put in, 25 years of 12 hour days comes out pretty close to 40 years of 8 hour days if you can keep your job that long.
He wasn’t lazy and you are not either but I would recommend working smarter rather than harder.
Today there is a paradigm shift going on where anyone can start up their own online franchise business on Internet. Here are the upsides:
People learn the necessary skills working part time from home on their computer.
You get a coach for every step of the way and often they are a 6 figure earner with the internet franchise opportunity.
You can do it at you own speed.
There is a bit of cash investment involved (less than 25 K) but nothing that requires doing a mortgage on your home. So no financial risk.
There are hundreds of case studies of online success with these business models.
You have access to all the turnkey business training available.
The digital products have already been tested and rabid buyers are desperate for the information shared in these online courses.
As for the market studies and location, internet is the 6th continent and your store is accessible 24/7. And there are 100 million potential buyers.
There is much more to say, but I would recommend listening to someone who knows how to do it. What is amazing is that they do it themselves and share what has been the most profitable.
John Chow is one of my mentors and a world renowned blogger says that the main reason to get an internet franchise business is to create a significant 6 figure income as well as having time freedom and allowing you to live where you want.
That is quite a change of thinking for those in traditional business who first have to pay everyone else before taking any profits out, all the while working 70 hour weeks!