4 Proven Sectors For Starting A New Business

Some businesses arrive and depart about as quickly as sunrise and sunset — think cookies or cupcakes or donuts. Sort of like a one-trick pony, catering to a fleeting taste is far riskier than seeking to serve a market niche with enduring demand.  Sure the new cupcake confectionery might be jammed for the few months after opening, but after a while, people may start to crave cookies, banana bread or brioches and they’ll likely end up at the full-service bakery that supplies a treat for every mood. On the other hand, some things, like certain services, just never go out of style. Think about what you need on a regular basis, related to household maintenance and upkeep, educating your children or taking care of aging parents. So when you’re contemplating starting up a new business, always consider long-term viability, larger market forces and filling an ongoing market need. You can find plenty of choices in the service sector. Among the options are:

1. Health Care

Senior care is one of the fastest growing needs as the Baby Boomers age. You can also find opportunities with businesses to modify homes for seniors.

2. Temporary Staffing

Many businesses need employees to work flexible schedules on an as-needed basis. This is especially true in this era of extra-lean corporate staffs.

3. Cleaning Services

You can find great options for house cleaning or business janitorial services. Other ideas include carpet and upholstery cleaning services. In an economy where many businesses have outsourced these jobs, opportunities abound.

4. Business Services

In one of the fastest growing segments of the franchise industry, options include printing services, business coaching services or companies that offer document shredding. So contact a franchise coach, who can help you locate a business that best matches your skills and experience. Then when you take the leap, you’re making an educated decision based on strong fundamentals and solid research.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-4589.  

How To Know If You Have What It Takes To Be An Entrepreneur

Almost everyone at one time or another contemplates starting a business, whether to escape from the frustrations of corporate America or to finally find fulfillment for your creative self, long trapped in stifling jobs.  Of course, the failure rate for new businesses can seem a daunting barrier. The Small Business Administration puts the survival rate of businesses at only 50 percent over five years. The good news is that the odds for survival improve the longer you’re in business. The toughest part is getting through the uncertainties of the startup period. The truth is not everyone is suited to starting and running his or her own business. And those who succeed learn how to capitalize on their strengths and gather as much preparation as possible before startup. You do not want to learn as you go or, before you know it, your money will run out. Fortunately there are many ways within easy reach to improve your odds. First, you must answer the most basic questions about whether you’ve got entrepreneurial talent and the right experience and skills for running a business. A recent Gallup survey of entrepreneurs found that “entrepreneurial talent significantly increased one’s odds of business success.” What separated these business owners? According to the 2014 Gallup study, they were more likely to:

  • Clearly articulate their competitive advantage to their clients
  • Make decisions about pricing, product or service with their customers in mind, and
  • Spent much more time planning for growth and aligning employee responsibilities with goals

In short, they were strategic in their management. Successful entrepreneurs have confidence, independence and determination, think creatively, can delegate, seek knowledge, and build lasting relationships, according to the study. You might have the skills, knowledge and experience, accumulated after years in the workforce, to successfully manage a new business, especially if you have established backroom expertise to help you along the way. The best place to find added support is with a franchise, which comes with all the training and operating systems you need to get started in a new business. So if you feel you may come up short on some of the qualities shared by entrepreneurs, you can rely on the time-tested experts that have helped thousands succeed as new business owners.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-5489. 

Want To Buy A Franchise? Be Prepared To Follow The Model!

If you want to go into business for yourself, one of the best ways to get started is to buy a franchise, particularly if you have no experience in the business you choose. A franchise can lower the risk of starting a new business for two main reasons. First, you can learn everything you need to know to succeed before you pay out any money, and second, the business comes with a time-tested model that has been shown to work for dozens, if not hundreds, of people before you.  All you have to do is operate the system as designed. During your period of investigation, you learn everything the system entails. If you don’t think you can do any part of it, this is the time to opt out. Once you buy the business, you should be comfortable with the system and have confidence you can follow it. Don’t despair if the first franchise you investigate has a system that doesn’t work for you. There are franchise systems to suit every range of talents and experience. For example, if you don’t like to cold call potential customers, you shouldn’t buy a franchise that requires that kind of sales. There are plenty of franchises in which the customer finds you. If you don’t want to hire employees, don’t start a business that will require staffing to grow. There are plenty of choices where you can work on your own. A good franchise coach can help steer you toward businesses that suit you best. The one thing you want to avoid is hitching your star to a business you think you can remake to suit your skill set. We had a client who was once the fastest growing franchise in his region who for some reason didn’t want to hire the necessary staff to cope with customer demand. As a result, he ended up strangling his business. Instead of growing, he stagnated. Another reason people sometimes don’t want to hire necessary staff is because they don’t want to spend the money or they think they can do the work themselves. Then it gets to be too late. They’re so overwhelmed by their business; they don’t have time to hire someone to help. The lesson: If you liked the business model enough to buy it, use it! That is the way to maximize your earnings.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan at dcitrenbaum@gmail.com or at (484) 278-4589 to help you create the career you’ve always wanted.

Want To Change Careers? First, Consider All You Have To Offer

A career shift is probably easier than you think, especially considering all the great options available to you for starting a business of your own. The one thing you want to be most wary of is underestimating yourself, which can be easy to do when feeling unsure about making a change.  Leaving your job to start a business of your own becomes a whole lot easier with a franchise since you get complete backroom expertise to help you learn what it takes to succeed. The trick is to find a good franchise that is a good match to your interests, experience and your personal style. A business that suits you best will allow you to spend your days doing what you love while enabling you to apply the skills and knowledge you’ve gained so far in your life and career. This is why you want to make sure you accurately appraise your skills and experience when you start investigating options, or you risk eliminating opportunities that might be a more perfect match. So while we always recommend you consult a franchise coach for assistance in making your selection, there’s a lot you can do to prepare. Start with a thorough appraisal of who you’ve become as a person and professional, so that you are equipped to make the best selection possible. You should understand which of your skills are strongest and which tasks you prefer to do.

6 Business Skills To Consider

Management

How well do you work with people and how well do you get them to do what you want? Consider all aspects of your life. Maybe you have one of those where everyone completes their tasks like clockwork, smiling all the way. Bravo! You are a great manager. If managing people is a great strain on your psyche, you may want to consider a system that includes hiring a manager.

Networking

Building a clientele often requires putting yourself out there, going to meetings, conferences, events and talking to people, giving them a chance to see up close and personal what a great person you are to work with. Hopefully, this prospect sounds like a lot of fun. Otherwise, you will want to consider a business where customers tend to find you.

Leadership

Are you comfortable inspiring others to work hard on behalf of a common goal, creating a sense of urgency and fun so people can enjoy coming to work for you? Do you have a tendency to draw people into your orbit? These are great qualities for running your own business — but hardly necessary to have upfront. A good franchise organization can show you how you can develop your leadership skills.

Selling

Some people have a real knack for selling. If you don’t have a lot of experience in this arena, remember a well designed product or service will practically sell itself, and, again, you can learn from the pros — a network of franchisees available for support and practical tips.

Marketing

Are you experienced at marketing a business and promoting a brand? Then you are a natural for handling the marketing of your own business. If marketing is not one of your strengths then a franchise is only right for you if it comes with a fully developed marketing campaign, as well as a national brand.

Communications

Feel comfortable articulating ideas? Have you written letters, newsletters, memos for work? Led or contributed to a meeting? You likely have good communication skills developed over a lifetime of interacting with people. You just have to be cognizant that with your own business, it’s up to you to explicitly communicate your ideas accurately to clients, employees, and so on. As you can see, not everyone will have complete expertise in all these areas. That’s why a franchise can be so helpful. Their expert support and training will help you fill in the gaps.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. With a quarter century of experience as an entrepreneur and coach, Dan began the latest stage of his career in 2010 when he bought a franchise — which he calls “the best decision I ever made.” To find out how to start your own business with a franchise or buy an existing business, call Dan at dcitrenbaum@gmail.com or at (484) 278-4589. 

Want To Start A Business But Scared To Take The Leap? Consider A Franchise!

How many of us spend hours daydreaming up ways to start a new career to rid ourselves of a boss and the rest of the annoyances of the humdrum 9-to-5 existence? More than half of American adults want a new career or to start their own business, according to CreativeLive’s inaugural Creative Jobs Report. Surely, it’s not surprising that people have a deep yearning to express their creative selves. According to the Small Business Administration, 63% of net new private sector jobs come from small businesses. Just over 400,000 new businesses are started each year, according to the SBA. The obstacles can seem daunting, especially when considering all the responsibilities you may have picked up along the way, like a mortgage, children, or even aging parents. While it may sound risky, there is a great way to get started that lowers your risk and comes with a complete toolbox to get you past the start-up phase. That is a franchise. The advantage of a franchise is it comes with a time-tested system as well as a network of franchisees already operating the business who can tell you how the company’s promises pan out in the field. All it takes is the decision to commit the time to a little research to help you find a business that works for you.

5 Easy Steps To Select A Franchise That Works For You:

Assess Your Skills And Experience

Make a list of all the skills you’ve acquired in life, as well as in business. Think about whether you’re good at managing people, sales, organization, and so on. Remember many skills are transferable across businesses.

Research The Market

Read the business section of your local paper, as well as business specific magazines and learn where opportunities abound. What do the economic indicators show? Is real estate booming or on a downward cycle in your region? Maybe your area needs more senior care resources.

Contact A Franchise Coach

A good coach, whose services are free, can help you narrow down your selection to franchises that are fully vetted and offer the best opportunities for success.

Talk To Franchisors And Franchisees

After you narrow down your search, contact a few targeted franchisors who will provide you with a franchise disclosure document, which includes their financial history, as well as franchisees’ costs and other operating essentials. You will also find a list of franchisees, who are your best resource. Talk to as many as possible to learn how the system has worked for them.

Consult A Franchise Attorney And Franchise Accountant

Before signing any contracts, you should plan to pay for expert advise from these folks. They will examine the fine print to help you avoid potential pitfalls and maximize your chance for success. Making a good selection is critical to get you the career you crave for the long term. Solid research will put you on the road to success.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-5489.