Competition in every aspect is vivid, especially in the business field. With this current financial crisis that the world is suffering we should take risk in every possible opportunity that comes along. As starting entrepreneur, a good choice in entering the industry is through franchising because there are lots of benefits in becoming a franchisee.

Caveat: For the type of person who wants to preserve his complete independence in business, franchising is not a good bet for you. Why? It is because, as a franchisee, you are your own boss – “More or Less”. More or Less means that once you agree to be a franchisee, you must adhere to the franchisor’s mandatory rules connected with the business model – rules, regulations, systems and procedures. In addition, you will also pay for the ongoing royalty on sales of the company as long as you’re a franchisee.

If any of these non-negotiable factors don’t fit you, franchising is certainly not feasible choice for you. But if you think franchising suited you, it’s time for you to stop working for others and finally become your own boss.

Here are some points to consider why to take franchising as a business opportunity.

1. Profitable franchisors have a proven business model. Consider a franchise as a turn- key business. In the end, the franchisor have developed a method of doing the business and produces successful results that led to stronger, more predictable business model. “Finest practices” of the company is building a brand on a regional or national basis that should have value in the eyes of customers you’re trying to attract.

1. Franchisors provide financing assistance either directly or indirectly. Lending Company may have loosened up – slightly. If you need assistance capital with the franchise fee and start – up costs, various franchisors offer financial aid. Also, the Small Business Association (SBA) can help you to assist with the franchise loan favorably than the independent contractors.

1. On – going support from the franchisor and fellow franchisees. You’re not alone in building and running your business, you can always call experienced people when you hit critical stage. Support will start once you sign the franchise agreement. Being one of them, you’ll be trained in different aspect of running the enterprise. Here are some list of training they will provide:

• Marketing – the franchise company will provide you with proven tools and strategies for attracting and retaining customers. Usually, the staffs will help you develop the actual marketing plans and budgets for your opening and campaigns.
• Construction Operations – they also provide wonderful benefits in helping you design the layout of the business and select the right contractors to do your build out, and maximize the efficiency of your initial investment.
• Purchasing Power – a good franchise can take advantage of the buying power of the entire system to negotiate prices for everything you need at significantly lower levels than you could achieve as an independent operator.

1. Your chance of business success increases dramatically as a franchisee. During the Recession beginning in 2007, the purchasing power of the people decline vividly. At risk time, consumers will purchase from a known brand name; in a recession, a franchise business has a greater chance of staying in business than an independent business.

As you look at this list, it not only shows a number of reasons to think about getting a franchise–it also shows you just some of the major challenges you’ll face if you have to create all these things yourself in an independent business. In addition, you’ll have the continuous support of the franchisor during difficult economic times. They have had experience in both boom and bust economies; they know how to survive and will support you in both good times and bad. They have a strong incentive in ensuring your longevity – collecting monthly franchise (royalty) fees.

Now that you know, the Goodness of Franchising, the critical step to make is to decide what business category to select.

To get you started, here are 15 Franchise Categories* for you to consider:

• Automotive
• Business Services
• Children’s Businesses
• Financial Services
• Food
• Home Improvement
• Hotels & Motels
• Maintenance
• Personal Care
• Pet Businesses
• Recreation
• Retail
• Service
• Tech
• Training

Note: *The source for the list of 15 Categories is from the Entrepreneur magazine.