June 18, 2008

Your Future in Franchising

One of the easiest ways to start a business is to acquire a franchise of an already established business. Who doesn't know Mcdonalds, Jollibee, Burger King and all these other fastfood joints? And it's not limited to food alone... what about Ink Refilling stations, laundry shops and bookstores, perfumes or clothes shops? I have a particular favorite in mind - KUMON.  To my mind, it's one of those brilliant ideas that you wish you had started yourself.  There's probably a Kumon center in every major city and province  to-date and the list continues to grow. Most of them are operated by women just like us. Don't you wish you were part of that. I wanted to but for now my kids are enrolled and enjoying the benefits of the Kumon method.

If you are considering a business to start or it's your first time to venture into it and you feel scared to do it by yourself for whatever reason, you might first like to try acquiring a franchise. There are a lot of  businesses that are in line with your interests and they offer affordable packages and support for first-time business owners like you. You'll have the benefits of having years of experience and expertise to help you through the crucial first years plus the logistical support not just to start but to keep the business going. It will save you a lot of money from mistakes you might make if you do it on your own. 

2 comments:

Alyssa Jones said...

Interesting article. I want to run a business and become an entrepreneur, so this is helpful. Lately I've been thinking that I'd rather buy a business instead of starting one from scratch, but I haven't had much success looking for one. A franchise? Something home-based? Do you have any suggestions? Thanks

Hannah B said...

Alyssa,

If you're looking to buy a business, or even invest in a business, then there’s BizTrader.com. It's this online global marketplace, so you can find a potential business in your specific area. I believe you can also use it to find a lender or a broker. I also suggest checking out your local newspaper and local small business groups. They should also be well versed in the ins and outs of doing business in your area. It also doesn't hurt to network.
Don't forget due diligence.
Good luck!