"I'll take one pound of smoked turkey and two - no make that one - pound of thinly sliced honey ham," said a frail elderly woman who was stooped over the cart of groceries she had pushed over to the meat counter.
Sam nodded as he picked up the last pair of latex gloves. It was a long, hot day. And he was just glad that Mrs. Allen was his last customer. Normally he didn't mind filling in after butchering for the day, but today seemed so long and boring.
While driving home, Sam began to muse over the situation. How could he make more money? What skills did he have other than butchering?
Then while stopping at the last intersection light, his eyes focused on a scene at his local sandwich shop. "Look at that guy's carryout bag - must be dinner for the family," he thought. "And that elderly group is heading in for dinner."
Sizing up the place, Sam said to himself, "It's pretty clean, and business seems to be solid. Every night on my way home from work, in good days and bad, that sandwich shop always has customers. And all sorts of people hurry inside to order their dinner - moms, managers, kids. They are satisfied. The proprietor is, too, and do I ever wish that I were that proprietor!"
Maybe Sam's dream is impractical, but he has it, nonetheless, and he's probably not alone. How about you? Do you ever think of owning your own chain restaurant, car shop, or retail store?
You can ascertain whether or not franchising is for you by asking some of the owners of your local franchises what the cons are. (Bring a notepad and pen.) To help you get started, here are a few as compared to a typical home business.
First, let's compare average investment requirements. Franchise investments generally run from $60,000 to $500,000. This includes basic things like your land, building, machinery, and office equipment. But that's still a lot of capital, especially in today's financially difficult times.
A small but solid home-based business will cost you considerably less because you won't have the added expenses of land and building. Start-up cost is typically between $1,500 and $3,000.
Second, let's compare average operating expenses. In a franchise you will have to dole out money for employee payroll, payroll tax, workers compensation, insurance/inventory, liability insurance, utilities, freight/postage, ad valorem tax, licenses/permits, advertising, telephone, franchise fees, depreciation, and sales tax just to stay open for business.
In a home biz, your costs are significantly reduced but still extant. Remainders include liability insurance, utilities, telephone, advertising, and depreciation (e.g., office equipment).
Third, here are a few extra things to consider: Your gross franchising profit generally averages 30-40% with a net profit of around 5-10%. You will work at least 50 hours per week-closer to 70 and maybe even more. You shoulder 100% of the risk factor and leverage none of the compensation from others-that's what you're doing for your chain store. You will have tax advantages, but these will be offset by your unchangeable time commitment, need to supply products, and confinement to a fixed location as well as limited income potential which averages out to $35-85K.
With the right home business, you can make more gross and net profits working a flexible schedule and leverage your income to unlimited potential.
The light turns green. As Sam pushes the accelerator, what would you tell Sam to do? - 15431
Sam nodded as he picked up the last pair of latex gloves. It was a long, hot day. And he was just glad that Mrs. Allen was his last customer. Normally he didn't mind filling in after butchering for the day, but today seemed so long and boring.
While driving home, Sam began to muse over the situation. How could he make more money? What skills did he have other than butchering?
Then while stopping at the last intersection light, his eyes focused on a scene at his local sandwich shop. "Look at that guy's carryout bag - must be dinner for the family," he thought. "And that elderly group is heading in for dinner."
Sizing up the place, Sam said to himself, "It's pretty clean, and business seems to be solid. Every night on my way home from work, in good days and bad, that sandwich shop always has customers. And all sorts of people hurry inside to order their dinner - moms, managers, kids. They are satisfied. The proprietor is, too, and do I ever wish that I were that proprietor!"
Maybe Sam's dream is impractical, but he has it, nonetheless, and he's probably not alone. How about you? Do you ever think of owning your own chain restaurant, car shop, or retail store?
You can ascertain whether or not franchising is for you by asking some of the owners of your local franchises what the cons are. (Bring a notepad and pen.) To help you get started, here are a few as compared to a typical home business.
First, let's compare average investment requirements. Franchise investments generally run from $60,000 to $500,000. This includes basic things like your land, building, machinery, and office equipment. But that's still a lot of capital, especially in today's financially difficult times.
A small but solid home-based business will cost you considerably less because you won't have the added expenses of land and building. Start-up cost is typically between $1,500 and $3,000.
Second, let's compare average operating expenses. In a franchise you will have to dole out money for employee payroll, payroll tax, workers compensation, insurance/inventory, liability insurance, utilities, freight/postage, ad valorem tax, licenses/permits, advertising, telephone, franchise fees, depreciation, and sales tax just to stay open for business.
In a home biz, your costs are significantly reduced but still extant. Remainders include liability insurance, utilities, telephone, advertising, and depreciation (e.g., office equipment).
Third, here are a few extra things to consider: Your gross franchising profit generally averages 30-40% with a net profit of around 5-10%. You will work at least 50 hours per week-closer to 70 and maybe even more. You shoulder 100% of the risk factor and leverage none of the compensation from others-that's what you're doing for your chain store. You will have tax advantages, but these will be offset by your unchangeable time commitment, need to supply products, and confinement to a fixed location as well as limited income potential which averages out to $35-85K.
With the right home business, you can make more gross and net profits working a flexible schedule and leverage your income to unlimited potential.
The light turns green. As Sam pushes the accelerator, what would you tell Sam to do? - 15431
About the Author:
To find out how to earn $1000 per referral, check out my Global Resorts Network GRN Website and GRN Team Builder blog.
