Franchising: Small Business Success Recipe?

Black Star News:

Starting a business always involves risk, but few entrepreneurs know just how much can be at stake when starting a new business.

According to the Small Business Administration (SBA), more than 50% of all small businesses end in failure during their first year with 95% failing within their first 5 years. With the risk of failure so high, many aspiring entrepreneurs simply aren’t willing to take the gamble of starting their own businesses from scratch, instead opting to become franchisees.

Franchising offers numerous benefits: It allows entrepreneurs to learn the specifics of starting a business while also giving them the ability to glean advice and support from the franchisor. In addition to relatively low startup costs and low risk, entrepreneurs can also gain valuable business experience while they promote a product or service that is already proven in the marketplace.

After running his own businesses for years, Artur Mkrtchyan became a franchisee because of the advantages it afforded him. As a franchisee of Monthly Coupons, his business is thriving. More.