Entrepreneurship
It’s been said..”Entrepreneurship is living a few years of your life like most people won’t, so
that you can spend the rest of your life like most people can’t.”
A recent study referred to the fact that 8 out of 10 people have a desire to be in
business for themselves. Another study estimated that a half-billion people a year
worldwide try to create a new business.
But as Nolan Bushnell so aptly stated, “The critical ingredient is getting off your butt
and doing something. It’s as simple as that. A lot of people have ideas, but there are
few who decide to do something about them now. Not tomorrow. Not next week. But
today. The true entrepreneur is a doer, not a dreamer.”
Being an entrepreneur can be challenging. As one entrepreneur commented, “You get sand
kicked in your face all the time – and worse. And sometimes it takes an undying love and
passion to keep going. There will be days when you will be discouraged and wish you had
opted for the security of a regular job.” But all of these issues are more than offset by the
success of your business.
Whether it is having your own independence, being your own boss while having more control
over your own destiny, or realizing your dream – it is clearly the aspiration for many.
The question then becomes, “What kind of business do you start?”
For some, you may have the next brilliant idea already in mind – and I encourage you to go
for it…However, for most, they are looking for a proven opportunity.
In starting your own business, you essentially only have three options:
1. Buy an existing business.
2. Start a business from scratch.
3. Buy into a franchise or license arrangement.
Some experts suggest buying an existing business; It is already successful and
has existing clientele. However, most sellers want cash, or at least a substantial amount down
based on the “full” price of an established existing business.
Starting a business from scratch is typically the least costly, as you are just
paying for the infrastructure (such as equipment), but not the client base and
goodwill (typically the expensive part of the business). But the risks of starting
your own business from scratch are clearly greater than buying an existing business.
The franchising or licensing option fits in between. You have the advantage of the parent
company’s experience and expertise with the underlying systems and processes already
established for you, making it easier to avoid a lot of the missteps that typically tend to ‘dog’ a start-up business.
We feel the license opportunity you have are the best features of all three options.
NO GUARANTEES
Obviously no one can promise you such, but if you adhere to the steps a franchiser or licensing
company have lined out – you should have the elements to succeed, but it will be up to you. As
a Licensee, if you are not meeting these minimum expectations, then something is amiss and
you need to talk to the license issuer or one of a consultants. The problem lies either with them or you – it is no more complicated than that.
Income and business opportunities are available for veterans, reservist, and military spouses at
Veterans Small Business Association
.
