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Buy a Franchise or Get a Job?

Guest post by: Global BX

Article Overview: In this time of recession, a lot of people are looking for alternative ways to secure their financial situations. Too bad for employees, they are the first ones affected by the consequences brought about by unstable market conditions. As an old saying goes, "any crisis is also an opportunity" so instead of finding a new job in a corporate setup again, you should consider buying a franchise.

Buy a Franchise or Get a Job?

In this time of recession, a lot of people are looking for alternative ways to secure their financial situations. Too bad for employees, they are the first ones affected by the consequences brought about by unstable market conditions. As an old saying goes, "any crisis is also an opportunity" so instead of finding a new job in a corporate setup again, you should consider buying a franchise. In fact, many jobless yet determined people nowadays consider owning a franchise for a business. Your Future in Buying a Franchise

Having a job is great, especially when you love what you do and the pay is good. However, there are some disadvantages in having a regular job in the corporate world. One major downside that employees face is the lack of freedom to experiment and try other things. Strict working hours, fixed compensation and insufficient benefits are also common issues in the corporate environment. On the other hand, owning a franchise as a personal business is a totally different approach. Buying a franchise is one of the fastest and most popular means to kick-start your entrepreneurship career. For example, individuals who have had business management positions in their former companies now enjoy remarkable benefits from having a franchise business.

According to statistics, 217,182 employees were fired last October alone. Unemployment rate increased to around 10.2 percent. With these facts, there is a huge cluster of experienced individuals who are trying to find a new career direction. These people have the option to take on any entrepreneurship venture by opting to buy a franchise.

Take note, though, that there are no shortcuts to success when buying a franchise but if you have the skills, passion, and determination to make franchises work for you, you can breeze through the challenges that you may encounter along the way. With the country's economy slowly recovering, your chances of success are quite high; hence buying a franchise can be a very smart career move for you. Read on below to learn more about the benefits determined entrepreneurs enjoy in a franchise business.

The Business Benefits of Buying a Franchise

Buying a franchise will give you an impressive degree of freedom that you will never achieve from having a regular corporate job. In a franchise, you will be running your own business under the supervision and guidance of your franchisor.

With purchasing a franchise, the risk is significantly lower compared to starting a business from scratch. You won't have to worry about training and support at the start of your business as the franchisors will be the ones to provide all these. All franchisors are matured and well-experienced enterprises. Their established business model is a critical formula in the success of your business.

Buying a franchise business also gives you a huge advantage through the franchisor's established and reputed brand name. The parent company's nationwide advertising and marketing programs will help attract your business' target market.

Obtaining a franchise may require a considerable amount of money as investment but this should not be a problem, especially if your prospect franchisor is willing to grant you funding or has an affiliate third-party financing.

With all these things mentioned, don't you agree that owning a franchise business is way better than looking for a regular corporate job?

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Article Tags: buy a franchise, buy a job, buy job, buying a franchise, career, find a job, job search, jobs



Related Forum Posts
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.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.
Re: Info for would be franchisers... - [quote="Sebastien":2gam0klq][quote="BuzzAroundBooks":2gam0klq]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.[/quote:2gam0klq][/quote:2gam0klq] That is really what I look for in any industry publication. We lead busy lives and when people fill their magazines with fluff, not only does it benefit no one, but it makes us truly appreciate those that don't. Thanks!


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