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5 Reasons To Start A Home Based Business Franchise After Graduation
Written by: Candice ClemArticle Overview: Once you receive that coveted college diploma, your next move is to head out into the world and get that high paying job that your education warrants. You could go take an entry level position somewhere and start earning experience, or why not jump start the repayment of your college loans by starting your own home based business franchise.
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5 Reasons To Start A Home Based Business Franchise After Graduation
Life after graduation can be a trying experience. For some, it’s the first time in life that there is no designated next step, no set plan, and no one around to tell the graduate definitively what he must do to succeed in the world. All any graduate knows is that he needs to get a job and put those years of college classes and tuition to work, but with little, if any, professional experience outside the classroom, the available options can be somewhat grim. One option that is rarely publicized, though, is starting up a home based business franchise. As with most business opportunities, this alternative isn’t for everyone, but for the right business-minded post-graduate, there are at least 5 advantages to choosing this route right out of college.
No Experience Necessary
One of the biggest hindrances for the recent graduate is that he probably has no real experience in the working world. Maybe he worked at the local record store throughout college or spent a summer as an intern at a legal firm, but when most jobs are asking for at least two-years’ experience in a given industry, that kind of experience just doesn’t suffice. And that can leave a person out of work for a good while before an opportunity comes along.
A work at home franchise, however, often has no experience requirement, because franchisors are always ready and willing to train their franchisees in all aspects of the business. Their job is making business owners out of anyone who wants to be one, providing not only daily-operations training, but also a tried and established business model. This means that Joe Graduate, regardless of what he majored in at school, can choose the business he wants, receive all the necessary guidance, and get right into business as a franchisee, while all his friends are searching the want ads.
Gain Experience Quickly
Even after a graduate has found a job, to continue climbing the corporate ladder, he has to acquire enough experience to progress up each wrung, which is likely to take many more years of service at the very bottom of the company. It is a long road to even a middle-management level of success and respect. However, the owner of a franchise is almost instantly equipped with everything it takes to own and operate a business. Trained in all the procedures and wisdom that has been accumulated by franchisees throughout the years, he is prepared to do everything from making sales and bookkeeping to overseeing the greater trajectory of the business as a whole. What would generally take a new graduate many years to accomplish in terms of experience, franchisees accumulates at a rapid pace, so that if they ever decide to put their own businesses aside and join the corporate world, they has a huge advantage over their peers.
Nothing to Lose
This benefit of starting a home based franchise right out of college has less to do with the business and more to do with the youthful franchisee. DVDNow, for example, is a business model currently in its adolescent phase; the DVD vending business has seen massive success in Europe, but is just starting as a rental option in the US. Though any franchise business is much less of a risk that an independent startup, there will inevitably be potential loss involved in any new business, which frightens some people out of pursuing a new work from home opportunity because they have their families, homes, and retirement funds to lose should anything go astray. Just getting out of college, though, the average graduate doesn’t have family, investments, or any particular standard of living to worry about. Therefore, it is also possibly the best opportunity a person has to try his hand at starting his own business, and he may never get another quite like it.
The Low, Low Cost of Home Based Business
There are those who doubt the wisdom of buying a franchise business right out of school, and we have to admit that they do so for good reason. One of their big concerns is that franchises cost more than a graduate can afford, and getting into large debt right out of the gates is a bad idea. They really have a good point; however, there is a great deal of difference between the average franchise business and a home based franchise, and much of that is in the cost.
Some franchises come with price tags as high as $1mil, and even something in the ballpark of $100,000 is more than the average graduate can invest, especially if they are already paying back college loans, but home based businesses don’t cost nearly that much. In some cases, a profitable home business can be purchased for less than $10,000, because there is no need for a storefront, overhead costs, or staff to pay for. Some good examples of very cheap and very effective vending home based businesses are Vendstar, U-Turn Vending, and American Vending Systems, all of which cost $10,000 or less but can sometimes bring in up to $70 per hour.
No Management Skills, no Problem
Another concern with business owners, straight out of college, is that they don’t practically understand how to manage people. Once again, this is a valid concern, but only if the business in question requires the owner to manage people. Almost always, a work at home franchise is a one-man operation, like Vehicle Tracking Solutions, an up-and-coming internet business that sells GPS units for corporate delivery vehicles. As owner/operator, the only person a franchisee has to be able to manage is himself, and chances are, if he’s motivated enough to start his own business, he can already do that.
Not everyone is cut out to run their own franchise businesses, home based or otherwise. And just because a graduate is feeling stressed by the difficulty of finding post-college employment, it doesn’t necessarily follow that starting a work at home franchise is the most logical business move. However, for the right person, a home based business could very well be the most time-efficient, and cost-effective way to jump into the professional world just after graduation.
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Related Forum Posts
Books for Women Entrepreneurs
- There's a thread for good books in the Resources folder, but it doesn't target books for businesswomen particularly, so I figured I'd start such a thread here.
It doesn't matter how successful you are in your business - it's always possible to learn something new.
In subsequent posts I give Table of Contents and brief descriptions for various titles - most of them devoted to the businesswoman - and sometimes a review. If anyone else has read a review, or has read the book and found it useful, please comment!
1. The Old Girl's Network
2. Mother's Work
3. The 7 Greatest Truths About Successful Women
4. Pitch Like A Girl
5. Workplace Warrior
6. Treasure Hunt: Inside the Mind of the Modern Consumer
7. Contingency Planning & Disaster Recovery
8. She Wins, You Win
9. Napoleon On Project Management
10. Why Good Girls Dont' Get Ahead, But Gutsy Girls Do
11. Comeback Moms: How to Leave Work, Raise Children, and Restart your Career even If you Haven't Had a Job in Years
12. The One Minute Millionaire
13. Talking From 9 to 5
14. Soloing: Realizing Your Life's Ambitions
15. 101 Best Home Based Businesses for Women: Everything You Need to Know About Getting Started on the Road To Success
16. Work With Passion: How to Do What You Love for a Living. Revised and Expanded
17. Fail-Proof Your Business: Beat the Odds and be Successful
18. Confidence: How Winning Streaks and Losing Streaks Begin and End
19. Women Don't Ask: Negotiation and the Gender Divide
20. Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen
21. Start Small, Finish Big: Fifteen Key Lessons to Start - and Run - Your Own Successful Business
22. Rewired, Rehired or Retired: A Global Guide for the Experienced Worker
23. The Martha Rules: 10 essentials for achieving success as you start, build or manage a business
24. The Essentials of Entrepreneurship: What it takes to create Successful Enterprises
25. Net Ready: Strategies for Success in the E-conomy
26. The Promotable Woman
27. Leave The Office Earlier: The Productivity Pro shows you how to do more in less time and feel great about it
28. The Work At Home Balancing Act: The professional resource guide for managing yourself, your work, and your family at home
29. Secrets of Six-Figure Women
Elevator Pitch in 10 Words
- "Winning Business Design For Aspiring Entrepreneurs Based On Their Idea"
Re: Enticing Franchises - Top 9 List
- All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers...
- [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there.
To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1]
Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published.
I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
Re: How do you budget your life?
- Here is my financial management categories for today:
15% Long Term Savings;
10% Home Expenses;
45% Business and Marketing charges;
10% Friends (Meeting);
20$ Scientific and Law Books.
But this will change when it is August or September.
Orxan
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