So you would like to start your own business, but not quite sure where to start. Do you want to buy into a small business franchise, or start an Online Business?
I have put together a line by line assesment. foremost and most apparent, with a small business brick and mortar franchise, your marketplace is limited. A global market is yours to be had with an online business. What about initial cost? A small business brick and mortar franchise has an purchase Franchise fee from $10,000 to $1.1 million. In additon to a reserve that is normally required of $50,000 to $250,000. With an Online Business, up front and marketing cost $500 to $25,000. A reserve is not crucial because there are many effective ways to market online that have little or no cost, but I would suggest $1,000 to $5,000. A faster return on investment and more marketing options will be available.
Return on investement with a brick and mortar franchise average 3-5 years. With an Online Business it is 2 to 12 months. This needs some added explanation or foot note. One thing I learned in my real estate franchise is that when I got to the point of profitability, space and expansion ability had also been reached. So the only way to increase profits was to get bigger or take on another location (franchise). In other words, the only way to grow was to go back into the red. The other thing that happened is focus was turned to furniture, design and negotiating leases, hiring new employees and missing from the major source of profit.
With an Online Business, most are done from home so no commercial space is needed. Growth is a normal element of your day to day activities. An online opportunity combines sales and business growth. Besides marketing there is very littel overhead, so money is used on your primary objective, lead generation rather than overhead and in a large amount of cases increased cost is in relation to greater profits.
If I could interject another quality that is in the favor of an internet marketing business opportunity, is you can do it part time and build it slowly over time. With a brick and mortar franchise, unless you can fully fund other people to do it, needs your full time attention. Here is information that may make you run screaming. 95% of all small businesses fail in the first 5 years, many of those in the within the first 2 years. 97% of people that create an internet business are not profitable. If after consideration of this, you have not shut down your computer and put the idea of opening a business out of your thoughts, then, maybe, just maybe you have what it takes to be one of the 3-5%. It will not be easy, but I promise you the rewards merit the sacrifice.
So with that in mind, I would make one recommendation, find a venture with GREAT SUPPORT. Not just a human being hired to persuade somebody to buy franchises or a person that is just looking to develop a MLM Downline so they don’t have to work, but someone that has created success for themselves. A person you can relate to that is, currently active and able to communicate the right means to others.
If you found value in this piece then you will love the free video by a friend of mine and ex- franchise title-holder. You will not beleive what happened to him and his franchise and internet marketing buinsess. Click this link franchise
Hoping all your dreams come true.
