Have you considered a new career as a franchisee and possibly becoming self-employed? Have you looked at the various franchises available currently on the market? Well, no doubt you've probably thought about a coffee franchise and there are about seven different franchisors who sell coffee shop franchised outlets. Many of them are quite good even if you have dismal records and lots of failures. In other words many of their franchisees have gone out of business; sometimes as many as half of their franchisees. Indeed recently, I met a very nice couple from a Coffee Shop Franchise in Phoenix, AZ Area and they are Corporate Employees and had 4 other investors with them, which are also Corporate Employees and had not yet turned a profit in 4 years. Luckily they are all working and doing well at their other jobs, but then Starbucks builds a Drive Thru unit 300 yards from them? They are still in business WiFi and have good strong regulars but they are just barely above water and certainly not breaking any speed records and if they were not properly financed they would never even hit ROI. They are lucky to have operational profits without lease, loans and payback for the money they invested. You see, just because you buy a business that is a franchise that does not guarantee success. It takes hard work, a good location and to a reputable Franchisor with a good business model. Please consider this in 2006. |
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