Of all of the most famous, seasoned and expert entrepreneurs that exist all around the world, from Tony Robbins to Richard Branson to Ronaldo Mouchawar, one thing that most highly successful entrepreneurs will agree on, is that deciding on how to buy a business or undertake a venture typically involves a fair amount of high risk. They typically would agree with the sentiment that, there are certain business and entrepreneur personalities who are fit for the unpredictable, high stakes, high risk arena, however, most business personalities are not, and that’s not only okay, it’s logical!
There is no shame in not being a Richard Branson or Ronaldo Mouchawar, we can’t all be as daring and risk taking as them and besides, there are so many different styles of entrepreneurs that to compare you to them would be unfair! There does exist a very profitable and potentially lucrative position in the market for the majority of pragmatic entrepreneurs, who would prefer an alternative approach to business purchasing outside of the high risk profile. For example, an approach that is somewhat more secure and rewarding, like those who have impressively leveraged the best businesses of 2016 (worldwide)! Just take a look at the wildly profitable and successful Hardee’s or Jack in the Box groups – and, both food chains!
It is widely accepted that business undertakings involve a considerable danger of failure. With Forbes Magazine reporting that eight out of ten new businesses fail within the first five years, it has got to make an entrepreneur wonder if it is worth the risk! Often, that’s why when a business-minded individual sees a ‘for sale’ advertisement, they take full advantage of the benefits and engage with enthusiasm immediately!
You have to ask yourself honestly, are you a high risk taker? Or, are you more comfortable with low to moderate risk and a more certain future (which big name top franchises can definitely provide!). Whatever your answer may be, the point is to be candid. Because the fate of your finances, energy and reputation, ultimately lay in your answers!
The Franchise Option!
One way to avoid the pitfalls of start-up failure is to simply buy an existing business that can provide you with an indication of likely success, based on past performance. There are lots of options to consider, for example, you could consider buying an independent ‘stand-alone’ business, or, you could consider a trialled and tested franchise business.
A New Business Venture requires an effective Business Plan!
The beauty of this option is that you are guaranteed many features that the independent business may be unable to provide, which ease the transition from employee or contractor, to business owner and direct dealer.
Opportunities provide New Business Features such as:
• Pre-established Customer Basis.
• Business Opening and Operational Support.
• Increased chance of Business Success due to existing Brand.
And that’s not all! The best groups will also give their customer all-important quality assurance guarantees, regarding a consistent standard of products and services on offer, which is ultimately the most important aspect of buying a business, to know that you have a solid potential client base or a pre-existing one that will follow the brand, and the business evolution.
"Franchising is the champion of small business expansion worldwide," says Steve Olson, publisher of F. U. Media Group. And Olson is not wrong! By leveraging the opportunity for no-debt or minimal-debt growth and expansion via readily available capital, the odds for success and stable continuity are far higher than that of independently funded business purchasing.
Of significant interest and benefit to interested business purchasers, is the heavily reduced potential impact of contingent liabilities such as:
• Lease Contract
• Third-party Contract Engagement
• Other Services Contract Engagement
For owners, happily, risk is limited solely to the capital they choose to invest for development – not foundation, baseline expenses, services and goods. The benefits of this arrangement can not be downplayed or undervalued, not only does this allow for a supportive framework for growth, but it also provides a somewhat safe, landing pad, for operational peace of mind.
In addition, owners can sleep soundly with the knowledge that any associated risks in regard to litigation of any kind (employee, customer, occupational health and safety) are greatly diminished due to the franchisee engaging in insurance coverage, relative to standard site and operational risks. This is a major draw card for most potential business buyers, as it supports an easy transition into new endeavours.
So, what are you waiting for? We’re ready to Welcome You to the Broccoli Family today!