Franchising as a Business Opportunity

Franchising provides the entrepreneur with an opportunity to enter the world of small business without all of the risks usually associated with starting a business from scratch 1. Indeed, the popularity of franchising continues to increase, especially with the emergence of new e-business models 2.

However, as with any business start-up the franchisee (you) needs to know what the franchisor (the brand) has to offer. Also, you need to consider the costs and your responsibilities when signing a franchise agreement.

“Remember that no franchise is perfect, and that every franchisee will have things they like about the system and things they don’t like”, says Chris Myers in Forbes. But first let’s have a look what franchising is all about…

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Borrowing Money from a Bank to Start your Business

Borrowing money from a bank to start your business is not an obvious option for prospective business owners. Unless you are well known, with a track record of starting and running successful businesses, no formal sources of capital are likely to invest in you in the early stages of your business 1.  Banks usually require an operating history to reduce their risk.

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The Reasons Why Start-up Businesses Fail

It seems that start-up businesses fail more easily than established businesses. Many good business ideas have been vacated by entrepreneurs because of the fear of failure. Furthermore are venture capitalist and banks hesitant to fund start-up businesses because of their perceived high failure rate. But what are the reasons that  start-up businesses fail?

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What is keeping you from starting your own business?

The factors that may keep you from starting your own business can be found at two distinct places – in your head and in the environment. Although managing the situation at both places demands hard work, it especially requires learning. Learning about yourself and learning about your environment. The psychological battle starting your own business will now be discussed.

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