Building an Internet Business vs. Buying a Franchise: Weighing Your Options
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If you are tired of the corporate grind and you are ready to break out on your own and start a business, there are several options available to you. In this article we are going to weigh the options of starting your own Internet business vs. buying a franchise.
Option one: Buying a Franchise
The lifestyle of an entrepreneur seems pretty attractive from the outside, and often when people are looking to be able to run their own business, be their own boss, and work the schedule they choose, they consider buying a franchise. A franchise is appealing because it's a proven business model; they have a well-known brand and pre-existing customer base. There is no re-inventing the wheel when it comes to running a franchise. You simply follow the proven business model hopefully to success.
But there are a few downsides to this option. Franchises require a sizeable upfront investment. They also require a considerable investment of your time while it is in the beginning stages of getting established. You must hire and manage employees, comply with both the rules and regulations of the company and the location where your business is.
With any new business you are taking on some amount of risk, but with a franchise you have invested so much money upfront and so much of your time and energy that if the business were to fail, you would still end up in considerable debt until you pay off all of the franchise fees, and the expenses of closing down a retail location.
On the flip side, there is always the possibility of the franchise becoming a huge success, which might mean opening more locations and taking up more of your time and sacrificing your quality of life.
Option two: Building an Internet business
Part of the wide appeal of starting an Internet business is that you can begin with very little money. You do not need to lease office space, hire employees or worry about expensive overhead costs. You can work from the comfort and convenience of your own home, set your own hours (however you will actually have to work) and work at your own pace. You set the rules and you determine your rate of growth. Without the considerable upfront investment costs, it does not take long to break even and move into profit with an Internet business.
The downsides, however, are considerable. You are responsible for the success or failure of your business. Because of the low cost of entry, many people do not take their business as seriously as they should, they don't plan carefully, and they don't manage their time efficiently.
But when you find success in an Internet business that you have started on your own, there are few things more satisfying. You can build a business that will provide you with residual income that will allow you to work fewer hours without sacrificing your income.
When weighing the two options, it really depends on your personality, what kind of lifestyle you desire for yourself, and how much upfront money you have to invest in a business venture and how hands-on you want to be in shaping the business.
If starting an Internet business sounds appealing to you, feel free to visit, http://mcreasite.com/blog, where you can discover lots of ways that you can build and grow a business online.
Option one: Buying a Franchise
The lifestyle of an entrepreneur seems pretty attractive from the outside, and often when people are looking to be able to run their own business, be their own boss, and work the schedule they choose, they consider buying a franchise. A franchise is appealing because it's a proven business model; they have a well-known brand and pre-existing customer base. There is no re-inventing the wheel when it comes to running a franchise. You simply follow the proven business model hopefully to success.
But there are a few downsides to this option. Franchises require a sizeable upfront investment. They also require a considerable investment of your time while it is in the beginning stages of getting established. You must hire and manage employees, comply with both the rules and regulations of the company and the location where your business is.
With any new business you are taking on some amount of risk, but with a franchise you have invested so much money upfront and so much of your time and energy that if the business were to fail, you would still end up in considerable debt until you pay off all of the franchise fees, and the expenses of closing down a retail location.
On the flip side, there is always the possibility of the franchise becoming a huge success, which might mean opening more locations and taking up more of your time and sacrificing your quality of life.
Option two: Building an Internet business
Part of the wide appeal of starting an Internet business is that you can begin with very little money. You do not need to lease office space, hire employees or worry about expensive overhead costs. You can work from the comfort and convenience of your own home, set your own hours (however you will actually have to work) and work at your own pace. You set the rules and you determine your rate of growth. Without the considerable upfront investment costs, it does not take long to break even and move into profit with an Internet business.
The downsides, however, are considerable. You are responsible for the success or failure of your business. Because of the low cost of entry, many people do not take their business as seriously as they should, they don't plan carefully, and they don't manage their time efficiently.
But when you find success in an Internet business that you have started on your own, there are few things more satisfying. You can build a business that will provide you with residual income that will allow you to work fewer hours without sacrificing your income.
When weighing the two options, it really depends on your personality, what kind of lifestyle you desire for yourself, and how much upfront money you have to invest in a business venture and how hands-on you want to be in shaping the business.
If starting an Internet business sounds appealing to you, feel free to visit, http://mcreasite.com/blog, where you can discover lots of ways that you can build and grow a business online.