You may think starting a staffing agency sounds like a great idea. With the economy on the upswing and consumer confidence higher than it has been for quite some time, you may feel like now is the time to plunge into going into business for yourself. Yet, at the same time, you’re not sure if you have what it takes to make it happen. You know that statistics indicate that many businesses start and fail after only a few years. You don’t want to be just another statistic. So, how can you be sure starting a business would work out well for you? Here are four typical characteristics of people who start their own business.
- Has money to invest
- Highly skilled in a particular trade
If you’re thinking you may be lacking a few of those characteristics, then you aren’t alone. Many people do not necessarily like to take risks, yet they would still like to be their own boss. Most people do not have a lot of money to invest, but they see themselves operating their own business. And truthfully, a lot of people may not even have strong skills in a particular trade.
However, do not stop reading just yet. There is another option for those who still want to be in business for themselves. A franchise business affords all the same benefits of operating your own business, but without all the requirements. Read on to discover four things a franchise will do for you that branching out on your own won’t.
The Up-Front Investment may be less
Starting a staffing agency — or any business — takes a significant initial investment. And in the staffing industry, that initial investment can easily run into the hundreds of thousands of dollars. A staffing franchise comes with significant up-front costs as well, but these are almost always lower than the cost of starting your own temp staffing agency since the franchisor most likely has negotiated pricing among vendors and should be able to cut your learning curve instantly.
Statistics Say the Risk is Lower with a Franchise
With such a heavy initial investment, you want to be sure that your investment will pay off. When less than 30% of new businesses are still open after ten years, your risk of going out of business is very real. With a well-run franchise and a supportive franchisor, your risk can be substantially lower than if you had to operate without the support of an established brand. You will also have the benefit of your franchisor’s name and history from the moment you open.
Receive training while you run your franchise
When you join with a franchise you gain on-the-job training and support while you earn your living. Some franchises have a training program that helps you grow in your new role. Most also have a strong marketing program that works for you so that your business sees growth. Most businesses would require that training come before you open the business. Whereas with certain franchise opportunities, you can obtain your training as you go.
Offers you access to a support group
Often times, being in business for yourself can be overwhelming. You may need guidance or support that your peers or friends can’t offer because they don’t understand the business. When you are involved with the right franchise opportunity, you receive membership in a support group that aims to guide you along the way. Supportive professional memberships ensure you have a rewarding experience. This is a real boost in times of need.
If you think operating your own business seems a bit daunting, then try a franchise. You still have all the benefits of business ownership, but eliminate some of the pitfalls of branching out on your own. At Nextaff, we offer a unique franchise opportunity in the staffing industry. For more information about this offer, contact us today or take a quick survey to see if owning a staffing franchise is right for you.