The Pros and Cons of Starting Your Own Business & Why Franchising May Be the Best Solution
Is it your dream to start a small business? Small business owners enjoy many perks, but business ownership comes with a few costs, too. Weigh the advantages and disadvantages of small business ownership, and explore the best of everything when you learn more about what franchises offer your professional future.
Pros and Cons of Small Business Ownership
Pro: You set your own schedule.
When you’re a business owner, you don’t have to clock in and out at predetermined hours. You can leave your mornings open and work exclusively in the afternoons if you’d like, or you can have a different schedule every day. You can take time off as you need and change your schedule at any time. The choice is yours!
Con: Your schedule isn’t always predictable.
With a 9 to 5 job, you can typically predict when you’ll need to be at work and when you can be elsewhere. When you’re the boss, you can set your hours, but you never know when something unexpected will require you to work extra hours or at odd times.
In emergencies, the responsibility falls on your shoulders, and your time commitment may vary from week to week. And as a business owner, there’s always something you could be doing, which can make it difficult to unplug during personal time.
Pro: You’re the sole decision maker.
When weighing the pros and cons of owning your own business, being your own boss is a huge pro. You don’t have to wait for approval from a supervisor or another department; you can implement anything you’d like to and make changes whenever you want. Ahh, the freedom!
Con: There’s not always a guidebook for success.
Every small business is different, and every owner has different goals and needs. When you have a new and fresh idea, it’s up to you to develop a business model that works well for it! This can be thrilling, but also daunting — especially in sole proprietorships or one-person businesses.
Pro: You have endless opportunities to invest in your community.
Being your own boss sounds appealing, but what are the advantages and disadvantages of business ownership in the bigger picture? When you open a business, your network expands, and you become a bigger part of your community. Investing in your local neighborhood can be richly rewarding and offer you a sense of rootedness and community you wouldn’t experience otherwise.
Con: Small businesses involve financial risk (and sometimes instability).
A salaried job gives you a fairly predictable paycheck, but one of the cons of owning a small business is financial unpredictability. As a business owner, you’ll feel the financial rewards of busy months, but you’ll also experience a dip in income during slower periods.
Advantages of Franchise Ownership
Are you hoping to start your own business but can’t figure out where to start? Are you weighing the advantages and disadvantages of franchising? At Painting with a Twist, we have the tools you need to get a running start on your small business. Here are a few advantages of franchise ownership to consider.
1. You don’t have to start from scratch.
When you purchase a franchise, your business already has a leg up from nearly every perspective. You’ll have guidance and information on best operational practices and existing brand awareness that can boost your marketing efforts from the very start.
2. You’re not doing everything alone.
Are you overwhelmed by the idea of being responsible for everything in your business? One advantage of being a franchisee at Painting with a Twist is our top-notch franchise support team. As soon as you sign your franchise agreements, you’ll have access to our experts on staff who’ve helped countless franchisees power up their success. They’re ready to offer you ongoing assistance throughout your journey!
3. Your customers are already out there and waiting for you!
When you choose a nationally known franchise business venture (like Painting with a Twist), you’re already lightyears ahead! The established brand offers you an embedded customer base. Many of your ideal customers will already know exactly what your business offers — all you have to do is let them know you’re there.
Painting with a Twist: Enjoy the Advantages of Being a Franchisee
When you stop to consider the advantages, franchising just makes sense! Take advantage of a tried-and-true business structure and an experienced team of pros to help you pave the path for your long-term success. Learn more about buying a franchise and try a class for yourself when you visit a local Painting with a Twist studio near you.