Time and time again, you return to the idea of buying a franchise and becoming your own boss. Each time the idea seems to gain momentum, all the reasons why you can’t do that come to the fore.
In fact, most of your concerns can be overcome. Here are some of the more common obstacles that people see to pursuing painting franchise opportunities Atlanta Georgia and what can be done about them.
You’re Never Owned a Business Before
It’s true that you’ve never owned any type of business before. What you may be overlooking is how much managing and overseeing you’ve done for past employers. In fact, you may be virtually running a business for someone else right this minute.
The skills and experience you’ve picked up over the years will serve you well once the leap to owning a franchise takes place. There will still be things to learn, but that’s why franchisors have training programs in place. Assuming your past work experience indicates that you know how to organize things, work well with others, and have the ability to make decisions under pressure, there’s a good chance that you’ll be welcomed with open arms.
You Don’t Have the Cash for the Initial Investment
Few people enter franchise agreements by using the money they have tucked away in a bank account. The more common approach is to arrange some sort of financing. That can take care of the bulk of the cost associated with getting the franchise up and running.
You have several options for funding the franchise. Business loans and lines of credit from a bank may be possible based on your business plan, your credit worthiness, and your background. The franchisor may also have access to lending arrangements for potential franchisees. There could also be alternative lenders or angel investors who would be interested in providing the financing that you require. You never know what’s out there until you look.
You’re Unsure of How to Hire the Right Employees
While you have managed departments before, hiring people was not something you did often. The more common scenarios involved a higher-up assigning new employees to your department. That leaves you wondering how to go about hiring administrative staff, painting contractors, and others to perform the tasks needed to make the franchise a success.
Once again, the training offered as part of the franchise deal can come to your rescue. There will be resources available to help you screen potential employees and ensure they have the skills and abilities needed for those jobs. Over time, you’ll become more comfortable with this process and find that you actually enjoy bringing a new person on board.
You’re Not a Whiz With Accounting
While you do fine managing your personal finances, there’s some hesitation around managing the accounting functions related to a franchise. From taking care of the payroll to overseeing the Accounts Payable and Receivable, there’s a lot to learn. Fortunately, you don’t have to learn it all at once.
There will be training that will help you set up the accounting system. From there, you will receive help in finding the right people to manage each of the essential accounting functions. You’ll still want to learn more about how to interpret financial data and what it takes to make sure accounting tasks are done on time, but all this will fall into place easier than you imagine.
What other concerns are holding you back from pursuing a painting franchise opportunity? Bring them out and see what sort of resolutions are found in the support and training offered by the franchisor. You may find that there is nothing that has to stand in the way of you owning a franchise and successfully operating the business.