The recession cost hundreds of thousands of people their jobs, leaving workers without a steady source of income, and searching in a wire-thin market for new employment. Many are still struggling to find the kind of work they enjoyed before the financial earthquake shook the very foundations of the American economy.
Against that bitter backdrop, The Tennessean reports that those without steady job prospects are turning entrepreneurship. For many, it’s an opportunity to be one’s own boss, to seek success inside a framework that has worked for many others and a chance to build something lasting in an economic environment that has made opportunities all too ephemeral. All you need is the operating capital to get started.
A recent Franchise Expo in downtown Nashville brought the enticing idea of striking out under the umbrella of a franchise to the area, and organizers said the turnout was indicative of the times:
“A lot of people are tired of working for someone else — and tired of the uncertainty that comes with that,” said Judy Moreland, coordinator of the Nashville event.
It’s easy to see where the allure is. In many cases, franchisors are well-established and can give you everything you’ll need to get started. It’s a career path that requires a lot of hard work and a willingness to adapt, but it’s an industry that is showing growth in a time where few are.
It’s no cheap proposition in many cases, however. Even if you’re hooking up with a giant parent company like McDonald’s, which has a host of marketing, accounting and other services at the ready, you’re still going to have to pay thousands of dollars in up-front costs. Definitely consider checking out franchise financing.
If you’ve got any thoughts about the advantages and disadvantages of striking out in the world of franchises, share them below.
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