Is There A Franchise In Your Future?

Job Journal:

Of those who are motivated to run their own business, many elect to start a franchise. This specific sector of small business is popular for good reason. According to the US Small Business Administration, 30 percent of all independent businesses fail in their first year, compared to fewer than 1 percent of all franchises. Clearly, the help and expertise of an already-established enterprise makes a big difference.

But operating a business requires more than your need for a change or the desire to be your own boss. Purchasing a franchise, like any other business, requires a total commitment of your time, energy and financial resources. Whether it’s a sandwich shop, a cleaning service, a sign outlet, or a music school for kids, getting started and becoming profitable requires initiative, dedication, money and expertise.

While the franchise can provide the business structure, know-how and more, some people just aren’t cut out for the work and risk involved.

In fact, according to entrepreneur and business counselor Greg Roquet, only one in four of the prospective franchise operators he meets with decides to invest the time and capital necessary to launch such a business.

Roquet has the credentials to know what he’s talking about. He has been a franchisee with Big-O Tires for 29 years, he recruits franchisees for Frannet.com (a network of franchise businesses), he runs his own business brokerage and, in his spare time, Roquet conducts classes and does counseling through the Sacramento-Area Small Business Administration. The man is a walking encyclopedia of business facts and figures.

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