Is Investing in a Franchise a Good Career Move?

In a blog post on the Houston Chronicle website, career columnist Kim Thompson poses the question: Can a franchise be a career option? 

Thompson notes that one of the common misconceptions that keep people from considering investing in a franchise is that franchising is only for entrepreneurs.  But, Thompson says, this is a mistake since franchising means operating within a defined system, so those who are truly entrepreneurial may become frustrated or disappointed in following a proven business model.

She also notes that those who have spent their careers in Corporate America often feel drawn to a franchise because of the training and support franchisors offer, as well as the national marketing campaigns that support new franchisees.  They are also attracted because franchises offer a lower risk proposition than pure start-ups.

Thompson says the key to determining if a franchise is a good career strategy is to conduct extensive research, starting by identifying the services or products that interest you, or would be a good fit for your current skill set.  She also advises potential franchisees to consult with a franchise consultant who can provide guidance on what kinds of franchise opportunities would be a good fit for you and the associated costs.

While franchising provides a good structure and less risk, you need to assess if you have the motivation and skills it takes to be a successful franchisee.  A franchise consultant can help you determine this as well.  At The Entrepreneur Authority, we encourage anyone interested in becoming a franchise owner to take our proprietary eQuiz™, which helps assess if you have the right mix of skills to succeed as a franchise entrepreneur….or what we call the “franchipreneur”.

To learn more about franchising as a good career move, attend our free March 22 webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register.  To register online, click here.

You may also register by calling 866-246-2884.

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