Why buy a franchise business?
Reason # 1 – Your job is sucking the life out of you. After putting in another 80 hour workweek you stop and think to yourself, “If I make this deadline, I may make a small bonus but my boss will be buying a new car!” Then you think about starting your own business and are immediately overwhelmed by the enormous uncertainty that comes with a new business start-up. A business has so many moving parts… product placement, marketing, constant innovation, management, employees, and the list goes on and on… For those of you feeling trapped in your job or in a career path you find unfulfilling, franchising can offer a roadmap to freedom. With many franchises you can even start with a semi-passive time commitment and develop them on the side until you replace your job’s income.
Reason #2 – You want to build your own business empire. Developing one business is fun and all, but you want something that really scales. Using franchising you grow your portfolio in several different ways. You can grab a brand that you think is up and coming and build out multiple units, you can build multiple units with multiple brands, you can develop an area with a large number of units for one brand, or you can become a master franchisee and recruit unit franchisees in a given region and receive a portion of their franchise and royalty fees. You can start with 3 and build out to dozens, or even hundreds, of businesses.
Reason #3 – You want semi-passive or passive income while you work another job or run another business. You like your job but you want to diversify your investment portfolio. You are looking for options because don’t want to put all your eggs in the stock market or real estate but you don’t have time to manage another business. Using franchising you can quickly add several health and beauty, food related, or fitness related franchise businesses (among others) with minimal time involvement on your end.