When starting your own small business the list of expenses can be totally overwhelming. Not only do you take a major hit up front with startup costs, but your overhead costs can also be a scary number to stomach. These costs can be a major barrier to entry for anyone considering jumping into the self-employment game. But there is another option that can save you significantly on costs and guarantee a return on your investments: franchising.
Site Selection & Financing
A huge consideration when starting your own business is location; where will your business be operated? With a franchise business model, most franchisors will help assist their franchisees with site selection, perform any necessary construction or façade changes, assist in lease negotiations and even provide financing for the purchase/rental costs. This takes a significant amount of strain off you – as the business owner – because you know that the place that you choose will be perfectly suited to your particular business model and coming up with the money will not be a strain on your finances.
Equipment & Supplies
Purchasing or renting the necessary supplies to run your business – whether it be fryers and ovens, printing equipment, exercise equipment, or any other high-expense necessities – can be a major headache. Within the franchising system, your business strategy guides can help to choose the right equipment, assist in obtaining discounted pricing with specific vendors and usually provide financing for the upfront costs, taking that major financial liability off your plate.
Get Help from the Experts
Reaching out to someone who has experience in entrepreneurship can be a critical step in getting your business off the ground. This trusted advisor will give you guidelines and help you along the path to creating a successful startup that will be profitable, rewarding, and stand the test of time.
Careyann Golliver, a FranChoice business consultant in Denver, Colorado, can be that guiding light in your entrepreneurial journey. With over two decades of experience in entrepreneurship and franchising, she can provide critical feedback and guidance. Contact Careyann today 720.542.3548 or firstname.lastname@example.org, or visit her on the web at careyann-golliver.franchoice.com.