According to recent federal statistics, 27 million Americans will leave their full-time jobs and become self-employed between 2017 and 2020. This will bring the number of self-employed workers to 42 million out of a total of 126 million workers in the United States. That’s 33% of everyone working in the country.

What’s driving people to leave their nine-to-fives and go into business for themselves? For many, it boils down to three main reasons: flexibility, freedom, and better income. People want more control over their own work and the ability to turn smart business decisions into more income than they’d otherwise receive with a fixed salary.

Finding a franchise opportunity that’s both low-cost and profitable can be tough. But as any successful franchise owner will tell you, it’s well worth the work to identify a winning opportunity.

If you’ve spent any time looking for low-cost franchises online, you’ve likely seen many businesses that label their franchise opportunity “low-cost.” In truth, it’s easy for a franchise to call themselves low-cost. It’s not always easy for buyers to validate whether or not it’s genuinely any less expensive than other opportunities after considering the potential for a healthy return on investment.

In 2008, the recession offered a painful, but important lesson for those looking to buy a franchise or start their own business: some industries are more recession-resilient than others.

While it’s impossible to say any industry is 100% recession proof, many industries continued to do well and even thrive during the economic slowdown.

The recession showed us something else, too: people turn to franchising in times where the economy is strained or could likely become strained. Why? People want more control of their future with a business that comes with proven systems and support.

Becoming a franchise owner is a process that takes planning, dedication, and due diligence. It involves a healthy dose of self-examination, research, asking good questions, and ultimately, making an informed decision that will give you the best chance at success and happiness.

While everyone’s journey to franchise ownership is different, those who find success in a business they enjoy typically follow a few basic steps, which we’ve broken down here one-by-one.

Whether you’re only just considering becoming a franchise owner or find yourself part-way through the process already, use this guide to ensure you’re checking all the boxes on the steps you need to take to make a truly informed decision about the franchise that’s right for you.

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One of the biggest challenges of opening a new business is getting in front of potential customers.

Since most people in your area likely haven’t heard of you, a few well-placed ads can generate immediate interest in your business, especially among those who are in need of what you offer but haven’t had an opportunity to buy from a local vendor or service provider until now. 

Whether you’re looking for more traffic to your website or simply want the phone to ring, advertising a franchise locally can be done without costing an arm and a leg. When done well, it will pay for itself and then some. Read more