For many, "the American Dream" is about more than just living with your friends / family in a land that's free and owning your own home. While they value those elements as highly as anyone, to them, the pinnacle of achieving that dream is to "be your own boss" and ply the broad waters of the American free-market economy as an entrepreneur, with a business to manage and a product / service of value to offer.
As to how best to pursue becoming your own boss, many have found that buying a franchise unit has many advantages over the other options. Franchisees fail less often than their non-franchisee counterparts, and the franchise space is growing consistently faster than the general economy.
That said, how does one decide which franchise brand to invest in? And what are the benefits of being your own boss as a franchise owner?
1. You Have the Freedom to Choose "a Winner"
The first benefit to managing a franchise is that you have a wide selection of top, growing brands set before you, and it is all up to you to do the research and identify which franchise you prefer to invest in.
Take Pretzelmaker as an example. First, it is favored simply because it is a quick-service food franchise, which is a top-performing market sector. Second, gourmet, specialty pretzels are rapidly gaining in popularity. And among pretzel franchise opportunities, Pretzelmaker outshines its competitors, being ranked among the "Top 500" by both Entrepreneur Magazine and Technomic in recent years.
As your own boss, you can decide which opportunity looks best to you and best agrees with your interests and cultivated management skills.
2. Financing is Easier to Come by as a Franchisee
First of all, the initial investment required for restaurant franchises is usually relatively low, and especially with smaller, specialty outlets like Pretzelmaker. But franchises in general are easier to start up because the franchise often gives you help with financing or, at least, uses its "clout" with banks and lenders to help get you approved for a loan that is both large enough and has favorable terms. Additionally, less traditional "private equity" loans are often available and are typically a perfect fit for franchisees' financial needs.
3. Franchises are Simpler and Safer to Open
Sure, you want to be your own boss, but you also want to minimize risks and reduce unnecessary complexity. Franchises accommodate you on both counts. Most franchises can do well in most locations. There are some restrictions, of course, but you can largely choose your own site.
Pretzel franchise opportunities, for instance, are considered viable anywhere that 60,000 or more people live within a 10-mile radius-that gives you plenty of options. And start-up is streamlined by the franchise such that you basically are dealing with a "turn-key" operation with preexisting, already-proven-effective protocols to guide you every step of the way.
