Points for Every New Entrepreneur to Remember  

Points for Every New Entrepreneur to Remember  

Whether you have lots of  work experience and are now looking to quit your job so as to start your own business or you are a fresher who wants to dive early  in the hurly burly of business the challenges of setting up a successful marketing franchise opportunity remain the same. You will have to do a lot of initial ground work and research before you choose a franchise.

When choosing a franchise you must consider the following points:

  • Initial investment
  • Financing
  • Capital requirements
  • Current trends
  • Time required not only setting up your business but the time frame of the business turning profitable.

No doubt you want to join a franchise that produces top quality products and services. Many would be entrepreneurs are foxed by questions like the ones given below:

Do I need business experience?

Yes having business experience is a must if you are starting a marketing company on your own but if you are aligning yourself as a franchisee then you need not worry too much. The parent company will help and guide you in budgeting, planning, marketing etc

Do I need marketing experience?  

Again the answer is yes if you are on your own but if you are with a franchisor, you are backed by an established brand and you can encash on its goodwill for initial marketing and will have to struggle a lot less.

Will I be my own boss?

The answer is probably yes as far as daily schedules and work are concerned but you should remember that you will have to work within the framework set up by the parent company.  They would have a proven business plan and would want you to adhere to it without much deviation.

Will I be on my own?

If you are going solo definitely you will be on your own for all purposes but with a franchise, the franchiser would give you full support whether it is technical, marketing, research, creating strategies etc as he does not want you to fail. So he will provide constant support because he wins if you win.

Category Business

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