Turnkey opportunities such as franchises and business opportunities can offer less risk than starting a business from scratch because of their proven operating programs. Here are some additional pros and cons to consider before you invest any money:
Pros:
--Experience is often not necessary because many companies provide training.
--Name recognition by potential customers.
--Sales, marketing, financial assistance available.
--Proven product and sales record.
--Supplies and equipment available and standardized.
Cons:
--Financial investment may be substantial.
--Have to follow company procedures.
--Required to purchase company’s supplies.
--If you decide to quit the franchise, you have nothing to show for your years of work—no building, equipment, and other items.
Research all opportunities to ensure they are legitimate and that they fit your abilities and that a potential market exists for you to make the profits you desire.
Suggested Resources:
--From Business.gov: “SBA-Approved Franchises: How do they work and How does the loan application process change?” http://tinyurl.com/2ar9mmx
--www.ftc.gov - “A Consumer Guide to Buying a Franchise.”
--www.aafd.org - The Association of Franchisees and Dealers
--www.franchise.org - The International Franchise Association
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Next: Choosing a Business
Select the best franchise provides you a ready made company that will almost certainly provide you with the same stage of achievements. Buying a franchise provide good income.
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