2016: Is It The Year You Will Own Your Own Business?

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By Jane Stein, Guest Author - January 22, 2016

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The ending of one year and the starting of another is a popular time for people to make big changes in their lives. Many divorced women will need to find a way to move forward after what has no doubt been a difficult period of transition.

Business ownership can be a wonderful solution to a variety of issues you may be grappling with, not the least of which are financial. It can also be a way to escape the bureaucracy, politics, and inflexibility that often go along with being someone else’s employee. Whatever the motivation, self-employment is not for everyone. So, how do you determine if it is right for you?

Let's start with motivation and passion. When you're launching your business you will put in more hours than you did as a salaried employee. You will find it invigorating and hopefully, joyful (see my recent personal story about this here on SheKnows.com.) But don’t be fooled - you will need tremendous motivation and passion to carry you through those first several months of generally being out of your comfort zone and, let's face it, grueling hours.

You'll also have to be a great multi-tasker to own your own business. The boss (you) is typically in charge of marketing, HR, operations, administration and in short – everything!

Entrepreneurship brings with it a “fluid work environment” that is ideal for moms who are looking for more freedom and control over their lives. Self-employment usually requires many more working hours than the standard 40-hour workweek – especially at first. However, you can control (in some cases) those hours and you will find tremendous satisfaction in spending long hours building your own enterprise. Most importantly, the empowerment you'll feel from building your successful business from the ground up cannot be understated. It is likely it will be the first time in a long time you felt such a strong sense of power and control.

Benefits of Entrepreneurship

Starting up your own business will require hard work and determination, but the benefits are tremendous. Recent research finds a significantly higher number of self-employed people get positive self-worth from their jobs than those who are employed by others.

Business ownership also offers those moving from one chapter to the next a sense of freedom and flexibility. Perhaps you have small children at home and flexible hours are important to you. Or maybe, you want to ensure you are making enough money to last the rest of your life. Not only does owning a business make you happier, give you more options with the time in your life, it is also an investment into your future and can provide the financial security you are so longing for.

Why Consider Franchising?

If you know you want to be your own boss, and have determined you have the skillset required for entrepreneurship -  but you’re not willing to take the risk of either starting from scratch or you don’t have the higher level of investment required to buy an existing business, franchising can be a great alternative. Buying a franchise gives you all the reward with little risk due to the built in systems provided, along with all the guidance in the start-up phase of the business.

The additional benefits of purchasing a franchise: franchising is less expensive, and there is ongoing franchisor support.

Franchises are also easier to resell than an independent start-up business. The reason is that franchisors are properly equipped with the sales team, marketing materials, support staff and success rate of their franchisees for the buyer to review. They provide a security and comfort level to the new business owner that a start-up simply cannot.

When you invest in a franchise, you’re investing in your future. If you would like to come out the gate big in 2016, let’s talk about how we can find a franchise that might just be your perfect business.

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