If you are looking to start a business, you are better off buying a franchise rather than starting one from the ground up. That way, you get a considerable head start and access to credible help along the way.
Many businesses don’t survive the first four years after making a debut in the market. Most people who are trying their hands in entrepreneurship lack the critical skills to see them through the most crucial part of their businesses. Incompetence and lack of experience account for more than 70 percent of the failure rate in startups.
Still, don’t let these statistics keep you from dipping your toes into entrepreneurship. With the right precautions and approach, you can escape the many problems that besiege beginners. Instead of striking out on your own, you may want to check out building inspection franchises like Pillar To Post.
You Won’t Reinvent the Wheel
Emerging technology often drives many people to try to create new products. Buoyed by the unrivaled success of other companies, some people spend countless hours trying to develop new products. While some succeed, other people register dismal failure and have nothing to show for their efforts.
Instead of taking a chance, buying a franchise lets you hit the ground running. Instead of spending valuable time and resources creating a product, you’ll focus all your effort on marketing your services. Best of all, home inspection service is an in-demand commodity in the current market. You’ll have an opportunity to cash in on the thriving and lucrative sector.
You Won’t Feel in the Dark
Incompetence leads to the failure of more than 40 percent of startup companies. Joining a franchise keeps you from adding to these numbers, even if you have little or no prior experience. For starters, you’ll be dealing with a product that is in demand, not to mention tried and tested on the market.
You’ll also have access to a skilled and experienced mentor to keep you on the straight and narrow. Access to a network of active players in the market can point you in the right direction and offer great insights.
Buying a franchise keeps you from making common mistakes that doom many startups to failure. You’ll have access to a proven business model to help you sell a product that is in demand.