Opening a Franchise: A Healthy Dose of Fear to Realize Your Dream

Business partners discussing business performanceEvery aspiring entrepreneur is dogged by one primal emotion: fear. It’s a natural response to being faced with the unknown, and some even go as far to say that it’s the entrepreneur’s best friend. In fact, fear could help you realize your dreams, so don’t let it drown out your vision of success. For one thing, there are many ways to work around first-business jitters, such as buying a franchise.

Let’s break down how it can resolve the common distresses of opening a business.

You Don’t Know Where to Begin

The first steps are crucial in establishing a business, but you might be at a loss at how to set your ideas in motion. This might lead you to shy away from putting up the business altogether because you don’t know where to start.

Franchises relieve you of this worry. They come with a tried-and-tested business model, so you only need to follow the prescribed processes. Moreover, the models map out day-to-day operations. This way, you don’t have to spend time figuring out what would work best.

You’re not an Expert

Being an experienced professional doesn’t automatically make you an expert businessman in your industry. If you’re a business broker, for example, you may not be familiar with the non-brokerage issues of a brokerage venture, such as cash flows, human resources, and marketing. By starting out with minimal knowledge, you’re setting your business up for failure.

A business brokerage franchise opportunity, on the other hand, comes with the relevant training to help you jump start your business and gear it towards success. Moreover, you don’t have to fear venturing out on your own —a franchise grants you access to the network of franchisors and other franchisees who can give foolproof business advice.

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You Fear Failure

Start-up failures are pegged at around 90%, so it’s easy to understand why the fear of failure keeps aspiring entrepreneurs from striking out on their own.

Buying a franchise doesn’t necessarily make you immune to failure, but it gives you less to worry about. As mentioned earlier, franchises have a proven business model, and their rate of failure is historically lower than those of start-ups. Moreover, unlike other first-time businesses, franchisors train franchisees to run the venture.

A solo entrepreneurial venture entails uncertainties that might keep you up at night because the potential for success walks hand-in-hand with potential pitfalls. With franchising, however, you face the prospect of more gains for fewer risks.

At Transworld Business Advisors, we will guide you to make your business brokerage franchise a success. To learn more about our opportunities, visit our website today.