// November 18th, 2008 // No Comments » // Home Business Systems
Thinking about Starting your Own Business? What are your Options?
There are hundreds of different businesses you can consider starting, and each has its own set of pros and cons. The biggest roadblock to starting or buying a business is that they require a considerable up-front cash investment. In addition to the large investment, the time commitment you must make when starting a business can ultimately turn out to be be far greater than what you have experienced in any job, and the return is not necessarily worth the extra time or the financial risk. Here is a comparison to our home based business opportunity.
Option One: Buying a Franchise
You could buy a franchise such as McDonalds, Burger King, Wendy’s, Subway, or Dominos Pizza, but you may find they have many BARRIERS TO ENTRY. You will need to make a large upfront cash investment (average start-up cost between supplies, location, etc – can fall between $400,000 to $1 million), and in the end, what you are really buying yourself is 90-hour-a-week job. You are going to be stuck in one location all the time, and you will have to be there everyday to oversee the operation, limiting your time freedom.
With a franchise, you are also going to be required to pay royalty fees for the life of your business. These fees are in addition to all of your operating expenses, and in many cases, they can prevent you from being profitable.
The following shows a few examples of franchises taken from Entrepreneur.com Be sure to note the “net worth” and “cash liquidity” requirements which would prevent the majority of people from even considering this option:
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