Franchising As A Viable Business Option
Benefits vs. Myths – Sacramento business coach from The Entrepreneur’s Source discusses franchising in recognition of National Small Business Week.
Rocklin and Roseville Today:
With entrepreneurship becoming a more viable option in today’s New Career Economy, and as the nation recognizes National Small Business Week (April 21-25), Sacramento business coach for The Entrepreneur’s Source Jim Kinghorn discusses the benefits and dispels the myths of owning a franchise.
‘In the New Career Economy, the traditional job market no longer offers the security individuals and families need to live well,’ said Kinghorn. ‘In the small business world today, there are many choices for people, and franchising is one that has become a strong viable option. As an owner of a recognized franchise business, I know first-hand the many benefits of owning a franchise.’
The International Franchise Association recently cited a study by PricewaterhouseCoopers which found that the franchising sector generates over 20 million jobs in the country yielding $2.3 trillion in the economic output. In addition, more than 3,000 companies are now franchising nationally representing over 70 industries. Unfortunately, there are myths about franchising that may sway people’s opinions. Kinghorn sets the record straight.
* ‘I’ll have to quit my job to become a franchisee’ – Many franchise concepts are specifically designed for people who are working other jobs. In fact, many franchise owners are passive rather than full-time investors. The key to making it as a franchise is consistency. It’s important to leave the habits of the corporate world behind and focus on the marketable and transferable skills needed to run a business.
* ‘I’ll instantly know the right opportunity when I see it’ – Many people want to fall in love with a business before they decide to invest. That is making an emotional decision, not a career choice. It’s important to take the time to learn about the details and nuances of the opportunity to understand its potential. It is not wise to make a business investment decision on how one feels versus how one thinks. More.
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