If you harbor any secret desire to be in business for yourself, then now is the time to take the plunge! This year, gift yourself the greatest gift of all- buy a franchise. The franchise model of business is perfect business for IT professionals and all those having any kind of entrepreneurial streak. This business concept is an incredible one and has all the ingredients for success. IT professionals can greatly take advantage of this opportunity because to ensure the success of individual locations, the franchise requires the input and management of the right owner with skills. Here are the top reasons for its popularity over start-ups.
Risk Factor Almost Nil
This is one of the biggest reasons why the franchise model has grown to become so popular among the budding entrepreneurs of India. Bu buying a franchise, one can avoid much of the risks that comes with starting a new business. This does not mean than franchises do not have their own share of challenges and hurdles, but when compared with start-ups, they seem much smaller.
Strong Brand Presence
The work is already half done when you are entering into a franchising agreement with a known and established brand. A franchise with a national presence will already be enjoying a pre-sold customer base and by maintaining the same quality of products and services, it should not take you long to have a strong client base of your own in your respective location.
Financial Problems Solved
Both, investing in a franchise and starting a new business, requires finance. If you are not shelling it out all from your savings and taking help from banks and financial institutions, then getting money for investing in franchises will come easier. Banks also acknowledge the low risk factor associated with this concept and readily provide loan options. There are several low investment franchise opportunities that would not require you to get into the hassles of getting a loan.
A Proven Record of Success
The rate of success is much higher than start-ups. In fact, new independent businesses are much more prone to failure when one lacks managerial and business skill, experience and often loses focus on the long run. People are known to have faced huge losses and even bankruptcy. This is a huge price to pay for your dreams. The alternative is much safer and has a proven success record.
No Need to Quit Your Job!
The reason why this is the perfect business for IT professionals is because they can carry on with their daily work side by side and hand-over the management responsibility to someone with the skills, knowledge and expertise.
What are you still waiting for? This is the time to spread your wings and do something that you have always wanted to – be your own boss!