08 Sep, 2017

Pros To Owning Your Own Business

PROS TO OWNING YOUR OWN BUSINESS Before selecting a franchise, take your time to develop a list and honestly depict your strengths and weakness as a potential business owner. Then use this profile as a tool to help with the decision making process. There are many pros to owning your own business these are as below:- • Your years of hard work can result in wealth not unemployment • For the self employed, just about everything is a tax write off • You will eventually have the ability, money and time to help others • You will eventually have more time to spend with your family • You will eventually have more self-esteem • You will eventually have much more freedom • You can create your own working environment. • Less stress • You can manage your time better to suit your personal life. • You can hire people to take care of the tasks that are tedious or that need to be done but you don't like doing them • It's prestigious to own a successful business • You gain business knowledge and experience that you can use for the rest of your life. • You have more freedom Y • You have the ability to contribute and create • Financial gain One of the biggest pros to owning your own business is that every expense related to making money for your business becomes a tax write-off. If you have a home based business the portion of your home that you use for your office is tax deductible and this include things like utilities and home insurance. The key according to Michael Gerber is that franchises offer you a proven "Turn Key" business. Franchises are still very risky. The risks in starting your own business are far greater than if you were an employee who worked for someone else. The franchisees actually fund the expansion for the business. Franchising gives a business the potential for full national exposure as well as extensively increasing the capital value of the business. The more successful your franchisees are the more likely you are to sell more franchises. Once potential franchisees can see a number of other franchisees who are doing well this will help them make their mind up to buy your franchise. Whether or not owning and operating a business is right for you, it is your decision and you are the only the one who qualified to make that decision.