Small business answers — NOW!

Franchise income opportunity

Question
Will owning a franchise allow me to have a better income than a traditional job may offer? 
Answer
Possibly. With a job, you get paid regularly, but your potential income growth is likely to be restricted. Income potential is often much larger with your own business, including franchises, because you have more control and are building equity year after year. Plus, you can sell your business; you cannot sell a job.

You cannot know how much income a franchise will produce. Of course, some fail. But with most franchises, be prepared to not take a paycheck out of the business until you develop a customer base and cash flow. As in any business venture, you trade increased potential upside for increased risk. 
Brain Trust contributor: President-Life Changer of Franchise Selection Specialists Inc.
© 2007, Small Business Network, Inc., All Rights Reserved.
Subject to the Terms of Use of AskJim.biz
Print this page   Bookmark this page   E-mail this page to a friend   Go back to previous page
AskJim ID: 351