Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Advisory 2012-05-31

Debuting franchise success

No doubt business generates more profits as compared to fixed amount of monthly salaries. Still it is not that easy. Initiating a business needs efforts, scarifies and hard work. Prior experience as an employee paves the way for success in a business vent

By Abha Garyali Sub Editor

Dreaming to become a successful businessman is easier than actually initiating a business venture. However, it is bit difficult to start a business independently without any prior experience. In that case the best way out is to take up a franchise business. But before that it is always preferred to gain some experience as an employee before jumping into franchise bandwagon.

From employee to owner

Majority of the youth today aspires to become rich and successful business tycoons. This dream is not impossible to achieve, rather it requires careful planning and execution. Well experienced employees tend to become successful entrepreneurs as compared to novice entrepreneurs who are sure to make mistakes and blunders. Here are few guidelines about shifting career to become a business owner after successfully working as an employee.

Do not leave your job: It is important to start the groundwork for becoming a business owner before leaving the current job. Franchise opportunities are perfect for this. Even after agreements are signed, one can use vacation time to attend franchise ownership training. Selecting a site for the outlet can also be accomplished while maintaining the current work position. Moreover franchisors always help with site selection and construction.

Run part time business: Any business does not initially start well. It needs a lot of time and hard work, even a franchise opportunity. Therefore leaving a well-paying job for a business can be disturbing for family life. Therefore one easy way to run a business part time is by owning a franchise. A lot of franchise opportunities offer part-time business models.

Interact with successful business owners: Business owners like franchisors who have gained experience and success can be the perfect mentors for a struggling entrepreneur. Talking to people who are successful and who failed, and find out what they did wrong can make one self double sure to not repeat their mistakes. Business professionals love to offer advice and give guidance. So always go for it.

Apply for bank loans: Having a job makes up to provide a happy and satisfied life to family members but investing in a franchise requires heavy amount, which is not possible by saving monthly salaries. Therefore best option is to apply for bank loans. Moreover, considering the popularity of franchising, banks have made it easier to get loans for taking a franchise.

Taking support from friends and family: Getting lesser amount of loan from banks or not having enough savings to invest in a franchise is a challenging situation. The only way to emerge out of it is by support of other family members and friends. It is the last option but can be helpful sometimes. Moreover, friends and family can also help with chores or other life situations, giving the entrepreneur more free time to work on the business.

Start off small: An employee who has been very successful in his career does not necessarily mean that he would do the same in his venture. Therefore it is always better to start small. If an individual does not have lot of cash, it is advisable to go for a low-cost venture rather than a big franchise, taking heavy loans.

Reading this article is sure to give an insight to aspirants who are presently working but dream to transit to a business owner soon. Taking care of the above mentioned guidelines is essential, but do not forget the mantra of hard work, determination and passion, for success.

Comment
shivaraj 23, Nov 2011 at 03:58 PM
i am interested in taking franchisee in gulbarga
pushpen 05, Dec 2011 at 06:40 AM
tak franchise in ratnagiri
Betsy 05, Jan 2012 at 05:50 AM
Kudos to you! I hadn\'t thgouht of that!
yogesh 06, Nov 2012 at 03:36 AM
i m intrested in franchise of branded company in raipur
sudhakar rao 09, Dec 2012 at 06:10 PM
i m intrested in franchise of branded company in hyderabad
Sadasrinu E 02, Oct 2013 at 03:22 PM
Hi i am Sadasrinu E working for an MNC and had a thought of doing business, please let me know if any good and profitable business franchisee is available in Hyderabad.
raman 14, Dec 2013 at 09:44 AM
interested to take in new delhi in paschim vihar
udaysudhakar 21, Feb 2014 at 02:50 PM
i am looking for mens wear franchise in proddatur at kadapa dist.
nagireddy 02, Mar 2014 at 11:31 AM
i am seeking denim franchise.
sairaj yadav 06, Jun 2014 at 06:24 AM
i m intrested in franchise of branded company in hyderabad
prasanna kumar 24, Jun 2014 at 06:59 AM
am interested in taking up a franchise in kaikalur.
vishnu 09, Nov 2014 at 03:14 PM
anyone plz give me the contact details of denim office in hydradad
Related opportunities
  • Pizzeria
    Own the American Dream In India with U.S.PizzaAs an international..
    Locations looking for expansion Karnataka
    Establishment year 1998
    Franchising Launch Date 2002
    Investment size Rs. 30lac - 50lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • Join Hands with Apollo diagnostics and start a business that..
    Locations looking for expansion Andhra Pradesh
    Establishment year 2002
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 200 Sft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Andhra Pradesh
  • Start your own Big Mart World franchise business and be..
    Locations looking for expansion West Bengal
    Establishment year 2007
    Franchising Launch Date 2013
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Kolkata West Bengal
  • Online learning/E-learning
    Join hands with Smart school Education Pvt Ltd and be..
    Locations looking for expansion New Delhi
    Establishment year 2008
    Franchising Launch Date 2011
    Investment size Rs. 2lac - 5lac
    Space required Nil
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Central Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories