Tired of working long hours in a dead-end job? Career is not going anywhere? Wish you were your own boss? Well, you can become your own boss. It is as easy as opening your own store. However, starting your own business looks pretty good when you are frustrated with your job. But it is not as easy as it appears when you are desperate for a way out of the frustrating daily routine.
A new business requires start-up capital, a new or superior product or service, a great location, a business and marketing plan, to name only thing necessary for success in your new venture.
Therefore, it does not come as a surprise that about half of all new businesses fail. Only a relatively small number survive the first five years and actually make money. The odds against a new business can be as high as 90 percent if one can believe some business sources. This number is most likely exaggerated but the fact remains that starting your own business from the ground up can be as challenging, frustrating and stressful as staying in a bad job.
Some budding entrepreneurs take an alternative approach. Open a UPS Store, for example, is their solution to the problem. They use the hard work and experience someone else put into opening a retail business to their advantage. Why go through costly trial and error phases on your own when you can benefit from already existing proven methods to run your business? Start a business as a franchise instead. It eliminates much of the pitfalls that line the road to success. Survival chances increase significantly for the new business.
On the other hand, starting your own business from scratch is definitely cheaper. Franchises can be expensive; how expensive depends on name recognition and success of the original business.