If you have ever thought about going into business for yourself, you are not alone. Many people consider business ownership, about just as many starts one, but only a handful succeeds. If you think business ownership may be for you, consider these 5 questions before you begin.
What skills do you bring to the table?
Most people go into business because they love doing a particular job. This love for the job stems from having skills in that area. However, operating a business means you need skills to do much more than the particular job at which you are skilled. Running a business involves marketing, hiring employees, doing payroll, dealing with customer service, accounting, and more. According to Entrepreneur, if you enjoy baking (as an example) you should be a baker instead of opening a bakery. That’s because you won’t spend as much time baking as you will the other business-related tasks. In one way this is good news because even if you are not an expert in a particular field, you can still operate your own business.
Do you need additional education or training to start a business?
You may feel that additional education or training is necessary to begin a business. You may be right. Extra training will enhance your ability. For many people training means a delay to accomplishing their goal. In addition, training and education can be costly. However, some franchise business opportunities offer free training on the job. This gives you the skills necessary to achieve your dreams and saves you money too. You get two benefits in one package.
Do you already have a potential customer base?
Operating a business means you need customers and possibly employees. Not everyone goes into business with a wide network of contacts and connections. This makes the beginning weeks and months of your business slow-growing. This can be a challenge for many people who want to start earning money right away. One option is to connect with a franchise that already has an established business model to get you started.
How much money do you have for an upfront investment?
Money can be a problem for many would-be entrepreneurs. If you are like most people, you don’t have a huge amount to invest in the beginning before you start seeing a return. Securing a loan is one way to take the plunge into business ownership, but you probably do not want to take out too much. Getting into debt over your head just starting out is presumptuous. Ideally, if you can start a business with very little upfront costs and a low monthly overhead, you be more likely to see growth in revenues.
Will you require outside support?
Supportive resources are a big boost to new business owners. It means a lot to be a member of business associations. It also helps build your influence in the business world when you are part of a bigger whole. Some franchises offer membership into associations.
If operating your own business has always been something you wanted to do, then consider connecting with Nextaff. We offer a staffing franchise opportunity with an affordable upfront cost structure. Some of the benefits you receive when securing a staffing franchise through Nextaff include:
- Access to software and technology needed for the industry
- Back office services
- Membership in industry associations
- Sales and marketing support
To take advantage of this opportunity or to learn more about out business model, contact Nextaff today! You can also check out some more benefits here: