If you’re going to do it…if you’re going to become your own boss, you need to find a way to increase your odds of success. One way to do that is by finding a business model that can help you dominate your market. Because market domination = a profitable franchise business.
Some Don’t/Won’t Do It
These days, lots of people want to become their own bosses. Some pull the trigger and become their own bosses. Regrettably, some don’t/can’t-for various reasons. Like:
- They can’t find the right business
- Their spouses won’t/don’t support their idea
- Lack of funds
- Fear of failure
- They get an offer (for a job) they can’t refuse
Am I missing any?
If you’re a person who really wants to be the boss, it sucks when you can’t* for whatever reason.
*Maybe you “can’t” right now. But things can and do change. Keep plugging away. Stay on top of business trends. Keep saving money. You never know what will come your way. The universe is powerful.
Some Do It
Some people are able to become their own bosses.
- They found a business opportunity that fits
- They have the support of their spouses
- They’ve been able to come up with enough money
- They’ve reduced their chances for failure
That one. Let’s talk about that last one. (This is where I show you how to lower your chances for failure a the owner of a business)
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How The Franchise Model Can Help You Dominate Your Market
The franchise business model has been called “The greatest business system ever invented.” And for good reason; A franchise business can enable you to dominate your (local) market. You just have to choose the right one for you and your market.
The Right One For You
What is the right franchise business opportunity for you? Look:
- One that will allow you to use your top business and personal skills
- One that’s affordable-based on your specific financial situation
- A franchise opportunity that won’t turn out to be a fad
- A franchise concept that has the potential to expand locally
- A business that will help you reach your goals and dreams
Tip: Use my Free Net Worth Calculator to determine your financial situation before you start your search for the right franchise.
The Right Franchise For Your Local Market
If you live in Dubuque, Iowa, a food franchise that features a juice bar along with GMO-free super food, may not be a good fit for the area.
That’s because Dubuque is an area that features a casino, country inns and the like. In other words, it’s not exactly California.
(When we think of juice bars and really, really, healthy food, we think of California; not Iowa.)
With that in mind, a better fit for you (as an Iowan) would be a food franchise that serves burgers.
The bottom line: Make sure you have a good understanding of the demographics in your local area before you sign on the dotted line.
The Franchise Business Model Rocks!
As a small business owner, you’re going to want to have as many advantages over your competitors as possible.
The franchise model gives you several. Like:
1. A proven, replicable business
2. Built-in business systems
3. Formal training
4. Powerful technology
5. Copy & paste proven marketing/advertising solutions
6. Real estate assistance
7. A network of current franchisees to talk with
9. An opportunity to create new local jobs
10. An opportunity to build equity
Those are serious advantages to leverage.
Are You Ready To Dominate Your Area?
In my opinion, the right person, operating the right franchise, in the right geographical area, can really dominate their local market.
Remember: Market domination = a profitable business. For you.
I figure if you’re going to take on some risk by purchasing a franchise, and work really, really hard, you should go into it with a winning mindset.
You should plan on dominating your market.
Dubuque, Iowa image courtesy of Benjamin Haines, Flickr