Franchise Considerations
First, ask yourself: “Why NOT?”
Associated Risk
Buying and owning a franchise has many benefits but it doesn’t necessarily mitigate your risk. According to the SBA, franchisees fail at about the same rate as other small businesses. Being in the right business for you, your emotional intelligence, ability to innovate, work ethic, grit, determination and willingness to put in time are likely better predictors of success than weather or not you buy a franchise. But there is no getting around risk.
Additionally, Work it is a new kind of business, which further increases the uncertainty.
Workload/Sacrifice
Owning a business MAY provide more income potential and flexibility than working for someone else. But the workload is immense, especially initially. And because your family depends on the business and the business depends on you, it has to take priority. So it can involve a lot of personal sacrifice of time and special events in ways working for someone else may not.
Initial Investment
Starting a franchise involves many upfront costs in order to open your doors. To open a Work it franchise, you will need the following:
- Liquid Capital Required: $200,000 +
- Net Worth Required: $500,000 +
- Total Investment Approximate: $860,000 – $1,200,000 +
If the dream is still tugging at you, do some research.
The article linked below is a great place to start!
What Does a Work it Franchise Offer?
Camaraderie and Community in a Business that Prizes, Promotes, and Develops Emotional Intelligence
One of the hardest things about being in business for yourself is feeling like an island. At Work it you are in a community of like-minded entrepreneurs dealing with the same challenges, achievements, fears and thrills you are. Our private online forums as well as in person meet ups provide our owners with emotional support, inspiration, strategy discussion and more.
