Should One Go The Entrepreneur Route?

If the reason for you to jump into a business is because of your discontentment with your current job, I would recommend you to take a break from your job , go on a vacation or find a new job and after a few months , see how you feel about your business idea . If that entreprenurship fire is still burning in you , then go for it. But if you are trying to jump into something so big as a franchise which involves a lot of money and time just because you are not happy with your current job, that's not a strong enough reason according to me . Most of us just like our jobs "enough " to sustain , we don't love it as such but it pays our bills so can't complain much . My point is you must have a real, burning desire to be an entrepreneur or some unique product that will fill in the void in the market.

With business , you have to very punctual as you have to come few hours before the opening time to prep for the day ( if it's a food biz ) as you will have customers coming to your franchise at the opening time and imagine the horror if you are not ready or the place is closed ? That will give a very negative impression to customers and people don't spare a minute to tear it down on Yelp . Punctuality needs discipline on personal level so you have to find ways to work on that . Get an hour early , prep lunch box for kids the night before , have hubby drop the kid off , find whatever ways you can think of to save the morning rush time . The first few years are very hard because you will be working overtime and would have invested some of your personal $$ into it so forget about vacation time, sick time for the first few years until you are established. You will have to find someone trustworthy from your family to cover up for you in case you go on vacations. If you are making quite decent in your current job with a regular 8 hours schedule , you may find yourself making almost or little more than this with a franchise biz but with way more time and hours and no vacations whatsover . Think if it's worth it ?

There are genuine and fake vendors everywhere . There is also a huge trade Fair in China every year and if you have a chance to visit , go there personally and you will meet so many vendors and see their past work experience. You will see many entrepreneurs like you from America . When you go on Alibaba or AliExpress you can see the reviews , badges and numbers of years they have been in this industry . Also, most of them have escrow based payment so you do get some protection if someone tries to cheat you . There are lot of forums on this where you will find people from America who are using vendors through these channels . You can always reach out to them .

 

@Naari just do it.

@Rihana..too many friendships have been ruined because of starting biz ventures /startups together .
Not my opinion..but that of my mentor of many years who is uniquely qualified to say so.

 

hi,
Before u take any decision analyse yourself deeply & find out whether u really have a flair for business, In that case, read books about some of the successful entrepreneurs in ur line of interest.Study ur nature
how stubborn/aggressive in achieving goals -even the home,ur present carrier have goals,
in case of initial financial losses,u have sufficient funds to meet them,
ur patience to face the rules & regulations of Govt.,
will u be able to spare ur entire time in it,as employment only specific timings but business though time spent outside may vary but 24 hours mental attention is required till u develop to such a position where u can spare money to hire professionals & u are simply a decision maker
do u have the mindset to give up that venture & seek Job if there is no profit even after considerable lapse of time etc.
important ur family members support
don't think i am discouraging u.a simple desire will not serve the purpose.
one more option - u can ask ur parents/in laws to consult a good astrologer whether ur stars have the business prosperity aspect in the & the right time to start.be very careful to go to a genuine astrologer.Our horoscopes if properly written & analysed will reveal the entire flow of life.But i had never shown my horoscope(except for marriage) as i very much believe in The Almighty.but what said is 100% true.
we had a meeting of our official association members .One person said that he wanted to become a businessman but got stuck with career.The Secretary replied if really u had desired u will not be sitting here.i also used to think of going for business often & used to advise our family youngsters ( all belong to software) to start a business together instead of using their skills for someones profit.not materialized.
However ur stars are lucky enough to lead u to a business,
get thorough with all the acts & rules of the state & country.
if finance franchise ,what impact other events/ acts/decisions of govt have in that project in short/long runs.
the competitors in that area
particular ways to improve the business,
what standard people expect
like there are so many.
Both have its own plus & minuses.
Above all this ur child is most important.whether someone is there to take care.
Still there are so many successful women entrepreneurs Some had gone to heights .i salute them & i wish & pray u join them .
May god bless u!
" the woods are lovely dark & deep but i have promises to keep & miles to go before i sleep"