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Old 09-25-2007, 10:22 AM
spex x spex x is offline
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Join Date: Jun 2005
Location: who dares wins
Posts: 569
Default Re: \"Service\" franchises

There are a lot lot lot of these types of franchises in the world these days. Over the last ten or so years or so a lot of startups have been infected with the franchising craze. There is even a franchised business that picks up dog [censored] in people's yards. No kidding.

I am aquainted with a guy that owns a couple 'We Buy Junk' franchises, and those are pretty lucrative for him. Well, success is implied by his life-style, I have no idea if he's making any real money. But I do know that he is very busy, and it seems to me like he works just about 24 hours per day.

I'm not trying to discourage you at all. But I, like others here, think that you need to seriously consider the amount of work that owning a small business takes. It is a huge amount of work. Even if you buy a franchised system, you'll be acting as manager for a few years.

I've owned small businesses in the past, but now I only do real estate. It takes less time and I enjoy it more because I like to negotiate, make deals, and solve problems.

Small businesses are very much about managing people - both employees and customers. RE is somewhat about managing people, but much more about knowledge. Its also much more passive. I work about 18 hours a week now, as opposed to running a small biz, where I worked about 100 hours a week. And all of those 18 hours are buy choice - there is rarely a time where I can't take off two weeks for vacation. This won't be the case in a small business.

Both RE and small biz require significant amounts of knowledge and expertise to make any real money. But in both you can learn as you go. Each will appeal to a differnt type of personality.

I'd suggest that rather than thinking about what type of biz you want to get into, you think about what kind of life you want to have, and then work backwards to figure out which course will get you there the easiest. IMO, it probably won't be a small business. My .02.
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