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Top 5 Reasons To Start A Small Business Franchise

Written by: Candice Clem

Article Overview: Before you plunge into a small business, it's important to know your options. Many entrepreneurs often overlook the prospect of a franchise, thinking that the cost will be too high for the average prospective small business owner, but with a small business franchise you can have all of the benefits of a small business plus quite a few other perks that are unique to franchising.

Top 5 Reasons To Start A Small Business Franchise

If you’ve ever considered starting your own business, perhaps you’ve considered the pros and cons and found yourself feeling a bit overwhelmed by the prospect of creating a successful business from scratch. With many business ventures requiring a pretty hefty investment, it can be a tough decision to really go for it and start the small business you’ve always wanted, but many of the cons of a traditional business can be tackled by choosing a small business franchise that suits your taste. With the hard work of market analysis and crafting a strong business plan and the proven success shown by companies that choose to franchise, a small business franchise can offer you the freedom of a small business with much less risk than starting your own business from scratch. If you’re still on the fence, consider the following Top 5 Reasons To Start A Small Business Franchise.

Work from Home
With many small business franchises conducting business through the internet and through house calls, you’ll be able to work from home in a variety of businesses that would have previously required commercial office space. Being able to work at home not only frees you up to work when and however long you want to, but also saves plenty of money on commuting costs, office space leasing and commercial storefronts. You can take the money you would have spent on setting up a retail space and pour it back into your business every month, giving your business some extra momentum and ensuring much more profit for you and your partners. Unlike many home business opportunities that rely on supplying you with products that you direct-market to consumers, a small business franchise is a real business in fields ranging from computer services to education to travel and everything in between.

Be your own boss
Most people have had that recurring daydream of being the boss and with a small business franchise you’ll not only be the boss but you’ll also control the direction and momentum of the entire business. franchise opportunities provide you the potential franchisee with a pre-made business that’s ready to go, give you any essential training to prepare you to run the franchise and then set you loose to get your business going and make plenty of money. While there are certain guidelines setup by the franchisor, you’ll experience a lot of freedom in your franchise as you outline your marketing strategy, hire your staff and begin making the important decisions that will help your business succeed. Even if you’ve never run a company before and are a little apprehensive about taking the reigns, the franchisor will give expert training in the specific field and in many cases will offer management training to new franchisees, giving you the training you need to lead your business effectively and efficiently.

Do what you love
For many people, a job is just a job, but with a small business, you have the opportunity to choose the precise business you want to own and run with it. In the corporate world, it’s easy to get stuck in a job where you have no passion for your work and to find yourself simply coming to work every day for the paycheck. While the pay is an important aspect of a job, doing what you love and having passion for your work is often what takes someone from viewing their work as a job to seeing it as a career. There are hundreds of small business opportunities in nearly every field and niche-market, so if you’re ready to dive in and start your own business, there’s bound to be a small business franchise that fits you to a tee.

Set your own schedule
Whether you’re a stay at home mom, someone looking for a second job or simply someone who doesn’t want to conform to the 9-5, Mon-Fri work week, you’ll benefit greatly from the flexibility that comes along with owning your own small business. Most small business franchise opportunities are either run from the home or appointment based so you’ll be able to set your schedule week-to-week and also decide which days to work and how may hours in a week you want to put into your new business. The more time you put into your business, the better chance you have to succeed financially, but many small business franchises can also be done on a part time basis as a second job or as a job for a student or primary caregiver, allowing you to work as little or as much as your schedule allows.

Meet your financial goals
The main reason most for-profit businesses exist is to make money, and with a small business franchise you’ll be in a great position to generate sizeable profits even within the first year. Because all of the hard work of market analysis and testing has been done by the franchisor, when you purchase a franchise business you’ll know that plenty of people have already tried and tested the proposed business model and have had success. Unlike many other business opportunities, a small business franchise can be a stand alone business and many times can be run by just one or two people but with the majority of small business franchises you can expand as your business grows by adding more units or locations and instantly increase your profit potential. Franchise businesses also have been shown to recoup the initial investment and begin to make profit much faster than a small business startup, which will put you in a position to make more money faster and grow your business at an exponentially higher rate.

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Article Tags: business franchise, business franchises, business plan, business ventures, commercial office space, commercial storefronts, computer services, daydream, fence, hefty investment, home business opportunities, momentum, office space leasing, plenty of money, pros and cons, retail space, scratch, starting your own business, successful business, traditional business



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These maybe the coldest franchises out there: - Here are the worst 15 performing franchises in regards to having the highest Small Business Administration (SBA) loan failure rates. The list is dotted with sub sandwich shops, fitness centers and car shops. WORST FRANCHISE LOAN FAILURES Failure % 1 OBEE'S SOUP SALAD SUBS 55.56% 2 LADY OF AMERICA 41.94% 3 COUNTRY CLUTTER (BED & BREAKFAST) 41.18% 4 COPY CLUB 36.36% 5 ALL TUNE AND LUBE 35.71% 6 PICKERMAN'S 35.71% 7 PHILLY CONNECTION 35.59% 8 ROLY POLY ROLLED SANDWICHES 34.78% 9 COTTMAN TRANSMISSION 34.48% 10 HAIR COLOR EXPRESS 33.33% 11 LEE MYLES AUTOMOTIVE TRANSMISSIONS 33.33% 12 GODFATHER'S PIZZA 33.33% 13 SMOOTHIE FACTORY 33.33% 14 BLIMPIE 31.39% 15 GOLF U.S.A. (RETAIL GOLF EQUIP.) 30.77% Source: Small Business Administration, SBA Loan Performance Within Franchise Code for the Period of FY 2001 - 2005
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
canada resources - I used to have a connection to a franchise consultant in Canada at "Franchise Officer" in Toronto. I wish I could remember his name ( but I can check my files at the office tomorrow). Anyway, he had a lot of connections to banks in Canada. He may know of them and may be able to offer some feedback. If you are looking for a business loan, Canada has similar business loan programs to that of the USA's Small Business Administration (SBA). I think its SLBS in Cananda, and I probably have the list of it's lenders in my office also. Do you think either can be helpful? If so, I can get back to you with this information tomorrow. Let me know!
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: Biz Plan Competition - i just wanted to say that posting Small Business Events on CanadaOne is a great resource. Thanks Julie!


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