Which Industries hold most promise in 2009
Which Industries hold most promise in 2009
I could go on and on about the benefits of owning a business, but the bottom line is this; Invest in a right business, with in a right industry and sky is the limit.
Which Industries hold most promise in 2009 - To learn more about this author, visit David Dolitsky's Website.
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The January issue of Entrepreneur Magazine is out on the news stands and for those who have never read the magazine, January issue is dedicated to the Franchise industry. In this issue, there is an article (see link on my web site under News and Articles) that talks about the Magazine's predictions for Franchise Industries that hold the most promise for growth and stability in 2009. Interestingly enough, I wrote a blog about the very same topic in October of 08 (See blog titled: "Businesses that are still making money in this economy"). Almost every industry that is mention in my blog is mentioned in the Magazine's article. Now I am not saying that I am the smartest man alive, but it is comforting to know that the experts agree with my views and that I am on the right track. There have also been plenty of talk about how Franchise owners are copping much better in this economy than their non Franchise counterparts. All of this continues to re-enforce my views that people should start looking at owning a business as an alternative to other investments and look to Franchises as a way to get into a business. It will take time for the stock market to recover, however if you are in the right business within a great industry, you will be able to recoup your stock looses quicker than if you left the money in there right now. With a business you get income and build equity as that income goes up and with the right exit strategy, you can sell the business when you want and take the equity out when you need it, not when the stock market dictates. As you make money in your business, you can continue to invest those profits back in to your business and grow. Growth could be achived in a form of adding additional locations, buying more territories, and growing your existing customer base. You could be a passive owner or an active owner, absentee or semi-absentee, or you could spend all your time in the business, the bottom line is that you have total control of your business, your money and your success. You could pass the business on to your kids, who could continue to reap the benefits of your hard work and you could be at peace knowing that you have set them up on the right path. There are also a great deal of tax benefits to owning a business. When you are ready to retire, you could find a partner who can actively run the business while paying you your share of the profits, higher a manager to actively run he business, stay on as a consultant or sell all together. There are other choices for you, however your choices are limited when all you have to rely on is your IRA's and 401K. I am not suggesting that people should not invest in the stock market, I am merely offering another alternative and providing information on the benefits.
I could go on and on about the benefits of owning a business, but the bottom line is this; Invest in a right business, with in a right industry and sky is the limit.
Which Industries hold most promise in 2009 - To learn more about this author, visit David Dolitsky's Website.
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