Owning your own business doesn’t need to be as daunting a task as it might seem. It doesn’t necessarily mean you need to empty every bank account, coin tray and piggy bank in order to scrounge up every last dollar to help support your launch. Even though the initial investment can be costly and the ROI is not guaranteed, many Americans are turning towards being their own boss and owning a franchise.
Here are some facts:
1. 63% of 20-somethings want to start their own business (Inc.)
2. 56% of Americans believe they have the ability to start a business (Forbes)
3. 43% of Americans believe there are good opportunities for entrepreneurship (Forbes)
If you are part of that 43%, you should seriously considering starting a franchise.
If you want to own a business a franchise is typically the cheapest and easiest way. The support systems, guidelines, procedures and structures are already in place, enabling you with all the tools you need for success – way better than starting from scratch! You simply need to provide the dough to get the ball rolling.
Unfortunately in this day and age, the cost of living is high and a small budget will likely limit your choices for business ownership. Even though there are always new business opportunities available, it can be hard to narrow it down to one that isn’t too costly for your budget, but also allows you to grow and expand your business in the future.
Once you have decided that franchising is right for you and you have chosen an industry, from there your budget will help you narrow down your options quite quickly.
For example, at Men In Kilts you can own your own business for as little as $50,650 – that includes your marketing materials, supplies, uniforms, vehicle(s), office setup, legal fees and more. Of course this might mean you have to start off in a smaller territory, but it gets your foot in the door and gives you a chance to grow.
There are many other franchise opportunities out there that cost little to start up, but be weary of the return on investment. Just because it’s a bargain to buy, doesn’t mean the business will be successful. Do yourself a favour and talk to current franchisees about their success and their experience with the franchisor. Always approach with caution and make sure you have all the information you need to make an informed decision. In the end it might be worth it to spend a little more on a franchise with proven success vs. spending little on a franchise with no success.
And hey, if you have the slightest inkling that the kilt may be calling your name, why not get in touch with us and see if a Men In Kilts franchise is right for you!
Here is a link to a great article in the Globe and Mail that can answer a lot of those lingering questions: