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4 ways to make sure your startup is a success

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Budding entrepreneurs might be thinking about starting a new business from scratch but is that the best idea? First, it’s going to be a lot of work and don’t forget 97 percent of new startups fail. That doesn’t exactly put the odds in your favor, does it? There is an argument that you should instead join an existing franchise. By using an existing franchise, be it a cleaning company or a in care service, you’ll reap a large number of advantages. We can look at a few of the benefits right here and figure out whether it’s the right choice for you.

Benefit from an existing model

One of the biggest challenges for business owners just starting out is creating a model that will work. You have to work out what you’re going to supply, how you’re going to supply it and where the demand will come from. It sounds simple enough, but when you get into the nitty gritty details, it can get quite complicated. Eventually, you’ll probably find that you have no idea how to get started. And even when you have started the business, you don’t know how to keep it profitable. With an existing franchise, that problem is already taken care of. You don’t need to worry about not knowing where to begin. A plan will already have been laid out for you that you’ll just need to follow.

Always have support

It’s lonely at the top, but it’s also lonely at the bottom when you’re trying to make a name for yourself. If you join an existing franchise, there’s always someone there standing right beside you. For instance, you might join an in home care franchise as a new entrepreneur and run your own part of this business. When you do this, you’ll have a team that can help and guide you every step of the way. There will also be someone to talk to if you ever find yourself in trouble. That’s not a guarantee when you set up a new company by yourself. If you do fail it will be your failure and yours alone.

Use an existing demand

Do you want to know the best part about buying into an existing franchise? The demand is already there because the name is known. Investors know it, and customers know it. They probably already have some branches out there that have been successful enough to create positive word of mouth. It’s very difficult to struggle to find customers when consumers already know your name. They’ll find you, probably without much need for extensive marketing or expensive promotional campaigns.

Take the easy road

Last but not least, it’s just easier to run a business where the foundation already exists. Just think, you won’t have to attend trade shows begging investors to put money in your hands. You won’t have to wine and dine new clients because they will already be interested in using your service. It’s a fantastic opportunity, particularly if you don’t have your own idea for a business that you know will sell. Use someone else’s and profit from their hard work!

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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