Many people view the New Year as a chance for a new start – a clean slate. On LinkedIn this month the list of people who added “looking for new opportunities” jumped exponentially.
As 2017 is upon us, maybe now is your time to begin exploring your options in starting your own business. We are all aware of the economic and political variability that came with November’s presidential election, and many people are feeling unsure about what the future. However, despite these feelings you may have, there are lots of reasons to believe 2017 may be a great year to own your own business.
Looking forward to 2017 this past October, Forbes Magazine found that “increasing employment, accelerating wage growth, consumer sentiment, cumulatively result in the perfect formula for consumer spending and retail sales, which account for approximately 70% of U.S. economic output.” The housing market is also on the rise since the market crash of 2008, which adds to consumer confidence. Obviously, when consumers are comfortable with discretionary spending, small businesses reap the benefits. No one can predict consumer trends with 100% certainty, but if you are thinking about owning your own business, it is important to gauge what consumers are thinking. And let’s not minimize the fact that a Republican controlled congress will most certainly be looking for ways to boost small businesses (or ANY businesses) and reduce red tape and burdensome regulations.
There will never be a perfect time to make big, life-altering decisions. You will probably always be able to make an excuse not to do something. Perhaps 2017 is the year to take a leap of faith (with research and planning behind you, of course!) and own your own business. Remember, you don’t have to go it alone. Franchising allows first-time business owners a well-trodden path, with full support, and is a great way to start your first enterprise. Like any business, cash flow won’t be immediate – but if you have the financial runway to support yourself for the first year or so, it can be a terrific long-term solution. It’s a solution that can allow you to have flexible hours, teach your kids about business, and create and build an asset that can be sold down the road. There are many terrific businesses you can run from home that are typically service-oriented, where you can be up and running in less than 90 days and with less than $100,000. Franchise opportunities today number in the thousands – it’s not your father’s franchising world anymore.
When you take my free Zoracle Assessment, your answers to these unique questions can help determine what franchise matches your management style, your personal strengths, and your interests.
Don’t forget to check out my latest Franchise of the Month. It’s a super cool fast growing brand.