Should You Start A Franchise?

While so many people are looking for new ways and opportunities to find a job and make money, some are going into business for themselves.

“I went ahead and found something that already was a great idea that provided a lot of the marketing support, a lot of the things that are weaknesses in my background. Max Muscle provides in order to make my business successful.”
-Stace Houk, Owner Max Muscle Franchise

And that sums up why people looking into self employment so often go the franchise route: they want to be their own boss, but they want support when they do it. But franchises have drawbacks too… many of which are common to anyone who’s self employed.

“Disadvantages are you have the ability to make more mistakes. Small businesses you feel the pressure that you’re the person. Everything is on you.”
-Stace Houk, Owner Max Muscle Franchise

Franchisees also pay fees of 3 to 10% of every dime they make to the home office that lowers profits. And with support comes requirements: like selling specific things or keeping specific hours. So before you go down this road, you have a lot to learn:

“Make sure they understand the business they’re getting into. The hours they are going to work. The employee types they’re going to have, how many employees they’re going to have. What the cost of the business is going to be after the initial set up so going forward you understand that.”
-Michael Bush, FranNet Franchise Consultant

“It is a risk and you’ve got to weigh all the risks that you are involved with it. It is your money and it is your finances and your long term security. So make sure that you really really like it and have a lot of passion and enjoy going to do everyday.”
-Stace Houk, Owner Max Muscle Franchise

Bottom Line? Franchises have their advantages and their disadvantages. Buy they are one path to self employment. Before you chose it however, make sure you do a lot of investigating before you invest.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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