MOS World

One of the primary motivators for owning a franchise is it allows you to go into business FOR yourself, but not BY yourself. That’s because you are buying into a proven business model leveraging an established brand with a built-in customer base. But franchising is not for everyone. Even though you are an owner, you must give up some independence. And it requires a significant capital investment to get started. The Pros Instead of having to reinvent the wheel, a franchisee gets a lot of support from the franchiser right out of the gate, offering a better chance for success. A franchise owner often receives help with: Site selection for optimal traffic with consideration for locations of competitive businesses Design and construction of physical facilities Financing to cover initial franchise fees plus start-up cost Training to learn the business and proven operational methods Grand opening programs to jump start the business National and regional advertising to grow sales ...

There are no limits on who can become a great entrepreneur. You don't necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, what you do need is a strong plan and the drive to see it through. 1. Evaluate yourself. Why do you want to start a business? Use this question to guide what kind of business you want to start. If you want extra money, maybe you should start a side hustle. If you want more freedom, maybe it's time to leave your 9-to-5 job and start something new. 2. Think of a business idea. Do you already have a killer business idea? If so, congratulations, you can proceed to the next section. If not, there are a ton of ways to start brainstorming for a good idea. Also, go out and meet people and ask them questions, seek advice from other entrepreneurs, research ideas online or use whatever method makes the most sense to you. 3. Do market researc...