This is the best time to invest in yourself and buy a business
Every day we all wake up to more negative news about the economy and the state of the financial market. We turn on the news to listen to the so called experts telling us what to do with our investments. Here is a thought that I would like everyone to consider " Invest in yourself by buying a business". I am not talking about just any business, but more specifically a Franchise business. Let's consider the advantages. The Franchise Industry is regulated by the Federal Trade Commission for over 40+ years and that is one of the biggest reasons why we have not had a large scandal in the Franchise Industry. Franchises have a 95% success rate, which was determined by a study that was conducted by the Department of Commerce. The study looked at start up business both Franchise and non Franchise and showed that after 5 years from the inception of the business 95% of Franchised businesses were still in business and 87% of those were still owned by the same owner, only 18% were still in business of the non Franchised start ups. Imagine investing your hard earned money in something that has a 95% success rate. Imagine also having full control of your destiny and making all the decisions in your financial future. Here are some statistics about the Franchise industry. By 2001, there were 767,483 business establishments in all domestic franchise systems (either owned by franchisors and franchisees), which employed almost 10 million people, with direct output close to $625 billion, and a payroll of $230 billion. Why are Franchises so successful? Because they eliminate the learning curve. When you buy a Franchise, you are buying an existing and a proven business model, where the Franchisor is providing you with the training, support, marketing, trade secrets etc. Franchises give you all the tools to be successful and all you have to do is use those tools. Most people think of Franchises as a fast food concepts, but there are at least 75 industries that currently offer Franchise concepts from different investment levels. Banks, landlords and businesses prefer to deal with Franchises, because they are aware of the success a Franchise has to offer and you are more likely to get a loan from a bank for a Franchise, than you are to get a loan for a non Franchise business. Most banks require a 20% down on an SBA loan. Next time you think about how to invest your money, think about buying a business and investing in yourself. Just think about this: The Franchise Industry slogan is " You are in business for yourself, but not by yourself.