The Benefits Of Franchising
Congratulations for being one of the people who have realized what it would really take to succeed in this world. What does this mean? Well, you are one of the people who have realized the fact that entrepreneurship is the true answer to success.
Most people nowadays think that the only way they can succeed in life is to go to a good school, graduate, get a job, and get promoted until they are at the top of the company. Well, here’s some news for you: even executives do have some people to answer to.
The ones truly at the top of the corporate chain of command are the ones who started the business in the first place: entrepreneurs. You see, entrepreneurship offers you the chance to be the boss. Entrepreneurs get the real money while executives get salaries.
But how do you get to be an entrepreneur? Well, you’ll need to resolve yourself and make a decision to take a risk. What you need to do is start your own business and strive to be the best.
If you think about it, you will realize that Bill Gates had to start somewhere, didn’t he? You need to start somewhere too. Most entrepreneurs open up small size businesses. These businesses often cater to their immediate community. However, these types of businesses rarely become big. In fact, most businesses like these often die out with their owner.
Another disadvantage with businesses like this is the fact that the risk factor of failure is much greater. By starting your own business, you will have to establish a name and reputation, something that isn’t really done easily or quickly.
So, most entrepreneurs turn to franchising opportunities in order to get their business going. Franchise opportunities help entrepreneurs by providing them with the name and reputation that comes with a big corporation. Franchise opportunities help entrepreneurs get started in the world of business.
Inexperience is often the downfall of entrepreneurs. Most do not realize the complexities of running your own show. Franchising opportunities help entrepreneurs by giving them direction on how to do business their way. This means that you will be able to get tips straight from those who have already made it.
Franchise opportunities, to entrepreneurs, are keys that can help them penetrate a market ruled by big names. You see, these big names have established themselves long ago and trying to compete with them would be next to impossible.
Here’s a story of how a franchise opportunity transformed one man’s dreams. If you watch discovery channel, you’ll probably have encountered this name: Tony Tan.
Tony Tan was fresh out of college and worried about money. During a field trip to an ice cream factory, he happened to notice a franchise opportunity for the ice cream. Being very business-minded, he took that franchise opportunity and opened up his own ice cream shop.
When he opened his business, it was during the summer. Naturally, many customers came and business grew. During the rainy season, however, nobody bought ice cream, so he thought of serving burgers and snacks. These burgers soon had people flocking from all over, and his business grew and grew. Now, his food chain, Jollibee, is actually dominating McDonald’s in the Asian market. He won the Ernst and Young Entrepreneur of the World award in 2004.
If you doubt this information, you can actually research “Tony Tan” or “Jollibee” in the internet, and you’ll see how and ice cream franchise opportunity led this entrepreneur to compete with the golden arches.
And that is one example of how franchise opportunities help entrepreneurs.
How do entrepreneurs choose franchise opportunities?
Well, there are a number of considerations. First of all, there’s the question of capitalization. Exactly how much cash do you need to get a franchise? Then, there’s the question of profit: How much will you make by using the franchise?
Another question would involve the legal freedom by which you are able to use the company name. Questions also involve the amount of help you might get if you avail of the franchise opportunity.
As an entrepreneur, you should study the different factors of a franchise opportunity before taking advantage of it. After all, even though you have to take risks, you have to have assurances, right?
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