Consider A Franchise

I’m reminded often that just because someone is “out of work” doesn’t mean they’re out of money. If you are unemployed have savings, a franchise might be the answer for you. If you think it might, spend an hour online searching for franchise opportunities that you feel you could afford.

Franchises come in all sizes, shapes, and investment price points. A McDonald’s franchise costs thousands and then thousands more to build a restaurant, hire and train staff, and so on.

Some service-based franchises are available for under $25,000. (Go online to http://www.thefranchisemall.com/ and search for franchise opportunities under $25,000. You’ll find over 325. Or Google “franchises under $25,000.”)

The benefit to a franchise is that the work is done. Well, a lot of it is. The franchiser has developed systems, processes, and procedures to help you run the business on a day-to-day basis. They offer complete training and support once you’re up and running.

Plus, they’re regulated by the state where you live. So they need to be somewhat on the up and up about what they offer. They cannot… under any circumstance… predict or promise how much money you’ll make. But that doesn’t necessarily stop them from painting a pretty rosy picture (if you know what I mean).

The downside to franchises is that while they can teach you to measure windows for mini-blinds or coach business-owners, they don’t always teach you everything you need to know about how to be successful – that is, to run a truly profitable business.

Plus, realistically, you’ll probably need more than $25,000. As in the case of every new business startup, you need to cover your household overhead… and still have enough money to do whatever marketing or purchasing of inventory and materials the franchise requires.

Tread carefully.