Sunday, July 02, 2006
Can Working For Yourself Set You Free?
Lately, I've been thinking about buying a franchise. A franchise is a sort of hybrid concern in which you work for yourself at the same time that you're working for the guys who sold you the franchise. There is a price to get in, which could range from just a few thousand to quarter a million, depending on what kind of franchise you want to buy. You should also select a franchiser with a known track record, and a reliable product. There are a lot of fly-by-night assholes out there whom you would want to avoid. Still though, if you ever wanted to be an entrepreneur but lack actual management experience, a franchise may give you the training wheels you need - and then some. Some franchisers whisk their franchisees away for training courses that last several weeks, and which enlighten them on such basics as bookkeeping and salesmanship. Many of us have already had a motley exposure to fundamental business tasks over the years, which might give us a leg up. You should remember, though, that if you bought a franchise and went into business for yourself, you would have to be willing to be work harder than you ever have before. Again, for some of us who have chronically been given much less to do than we are truly capable of, all that hard work would be a welcome price to pay for the challenge of a lifetime. It goes almost without saying that you would want to like what you do even if you are your own boss, so choose carefully. Fortunately, there is a bracing variety of franchises to purchase - coffee shops, computer stores, picture framing boutiques, internet consultancies, and much else. And that's just what I personally looked into. Do yourself a favor on Independence Day and ponder this potential road map to independence.
"Start Easy With a Franchise or Biz Opp" from MSNBC
"Ten questions to ask before buying a franchise" from Small Business Opportunities Magazine
Consumer Guide to Buying a Franchise
Managing a Franchise