Choosing a profitable franchise When thinking...
Here's what to Consider
You know your current job just isn't for you or may even be going by the wayside, and you've always wanted to own your own business. Now you're at the crossroads: do you invest in a franchise or get a new job?
This can be a tough question to answer. After all, you want to make sure you're starting a new business at the right time in your life, so you need to decide whether that time is actually now. The best way to decide this to examine both routes so you can make the right decision at the right time.
The "job" route
First, you need to discover why you feel you need a new job. Is your current job just not satisfying? Have you gone as far as you can go in it? Or have you been going from job to job because you just haven't found the right fit? Once you have honest answers to these questions, you can take a closer look at the franchise route.
The "franchise" route
Buying into a franchise--or any business--is not like getting a new job. You will need to invest up front, and not just money. Time will be necessary to do your research, find the right opportunity and get your financial ducks in a row. Unlike a typical job search, this can take months of research.
Of course, there's also the mixed route. You can do both. If you decide to go with a flexible franchise, such as a work-at-home or mobile opportunity, you can keep your day job while building your business. Keep in mind that this is going to require a serious time investment on your part. Your off-work hours will now need to go to your business until you're successful enough to leave the day job or hire help for the franchise. Plenty of people have done this and have been successful. If you decide this is the path for you, make sure you are ready to make this sort of commitment first.
For both a new job and a franchise, keep in mind that you don't have to move forward with it just because you researched it. If the new job or that franchise seems off or like it's not the right move, don't just go ahead with it anyway. These are decisions you must be fully confident in if you want to succeed.