The end of the year has arrived once again, which means it’s time to seriously think about all the promises you want to make for the upcoming year. While many people may be thinking about weight loss or quitting caffeine, you probably have something else in mind. More than likely, you’re reading this because you have entrepreneurial ambitions. You probably feel it’s time to finally put your passion into practice. Don’t ignore an instinct to get a business going; your New Year’s resolution should be to open a franchise.
Generally, the idea of making a good New Year’s resolution involves setting goals that are reachable. Becoming a franchisee increases your chances of achieving success. Of course, starting any business is going to come with at least some uncertainty, but trying to bring a totally new concept to fruition may come with considerable risk. You can mitigate this risk by building a business on an existing foundation. Franchises operate based on business models that have already been proven effective. Franchisors put a significant amount of time and money into raising brand awareness and creating a well-known service or product. Franchisees get to reap the benefits of the franchisor’s labor.
Furthermore, prospective franchisees don’t go into an investment blindly or without any proof of concept. Presumably, a franchisor will have other stores or locations, which means they have the ability to share business strategies with you. In other words, you would get a big leg up on non-franchise startups in the industry.
Becoming a franchisee may be a personal goal for you and it’s important to remember that startups expand beyond the individual. As a business owner, you’re not only taking ownership of your own career, you’re also helping others take charge of their careers. When you open a location, you create jobs. Franchises are contributing to society’s growth by employing millions of workers and generating trillions of dollars in sales. In fact, the U.S. added nearly 20,000 franchise jobs in the month of May alone.
It’s not often that you get an entire team of professionals working to make sure you fulfill a resolution. If a franchise succeeds, a franchisor succeeds. This means they have a large stake in the growth of their franchises. Great franchisors not only have the ability to help you get the initial financing you need, they also assist you in getting locations promoted and opened. Additionally, franchisor assistance doesn’t always stop there. Many companies offer continued support in areas such as human resources, training, IT, public relations and marketing.
It’s worth noting that you’ll have some responsibility in finding a franchisor that can provide you with the best chances for success. You’ll need to do some due diligence when researching which sectors are robust. For example, educational services are worth billions of dollars and counting as more parents are taking advantage of programs that help their kids prosper in school. Consequently, supplemental education franchisees are flourishing. Best in Class Education Center offers a business foundation, recognized brand, and operations support system that will help you succeed. Whatever franchise you choose as your New Year’s goal, just make sure it nourishes your entrepreneurial spirit.