We hear it every day…
“I just don’t know about starting a franchise now! With the recession, gas prices, stock market instability, unemployment. I just don’t think now is the right time.”
Is Now The Right Time To Invest In A Franchise?
We’ve been working with people to help them start businesses for the past 33 years. Here are some other reasons we have been given from people as to why they have decided to postpone starting a business.
- Getting married.
- Getting divorced.
- A child getting married.
- A child graduating.
- Need to save a little more money first.
- Want to think about it and ask my friends, family, neighbors, friends of neighbors, etc.
- Want to wait until the economy gets better.
- Wants to wait until the economy slows down and competition shrinks.
- Selling a home.
- Buying a home.
- Waiting to see if they lose their job.
- Waiting to see if they can get a new job, or if the new boss is better than the last boss.
- Waiting for the kids to get a little older.
- Waiting to pay off the house first.
- Wait to see if the stock market improves or what the analysts think
The fact of the matter is, we’ve heard a lot of “Maybe I should wait until…”
Here Are Some Of The Reasons To Invest In A Franchise Now
According to the SBA, entrepreneurism is on the rise across America. According to the United States Census Bureau, Americans registered 4.3 million new businesses in 2021 — a 24 percent increase from 2019. A year later, this trend has continued, and it’s not slowing down any time soon. In November 2021, Americans filed 432,034 business applications. The message here is clear: if you’ve ever wanted to be your boss, 2022 is a great time to build your business.
Many Americans may not be aware that 99.9 percent of U.S. businesses are small businesses, and 46.8 percent of U.S. employees work for these 32.5 million businesses. In fact, in 2019, small businesses were responsible for exports of goods worth nearly $460 billion. Read full article below.
Not only are franchises more likely to succeed than traditional businesses, but franchising is becoming a more popular route to business ownership.
The International Franchise Association (IFA) released its annual report, which anticipates franchise growth of 2.2% in 2022.
The worst mistake anyone can make is to wait until it’s a good time to start a business…. the only good time is NOW, because, you see, life will continue and things will always happen. The economy will get better and it will get worse again. You will sell a house, buy another one and probably sell it, too. People will get married and people will get divorced. You will save more money, and end up having to spend it on something else.
If you decide to wait, odds are huge that you will never end up owning a business, and at some point later in your life, you will be kicking yourself wondering what would have happened if you would have started that business you wanted to in 2022?
If your goal, your dream, is to own your own business, start investigating your options now. We can help you sort through the different types of business models, help you organize your thoughts and your goals, and point you in the right direction to help you achieve your dreams. There is never a perfect time, there is only a limited amount of time that each one of us has to achieve.