In the business world it is very common for people to fail. Many successful business owners have in the past had at least 1 or 2 business fail. One of the reasons they became successful was because these businessmen did not quit dreaming about owning their own successful business. They took their failed business as a learning experience and applied what they learned to start another business. You may start something like a Subway franchise that could be very successful, yet it still fails for numerous reasons.
If you want to own your own business then you can expect to fail. You may be successful with your first business you start-up; however statistics seem to insinuate that your first business or 2 will fail. What separates the John Does from the Donald Trump’s of the world is that the Donald Trump style people will continue to build businesses. A regular person may think that they failed at a business idea so it is time to go work for someone else in a regular 9-5 job. This is the wrong state of mind to have if you want to be a business owner. A subway franchise owner will work much more than 9-5; however the benefits of owning your own business are priceless.
As a business owner you need to always be looking for ways to expand your customer base and to help ensure the stability of your company. Many first time business owners find success with franchises. A franchise will help to train you to their system and show you how to operate the business successfully. There are however many negative aspects of the franchise business model. As a franchise owner you will be required to adhere to the parent company’s business plan. As a Subway franchise owner you need your sandwich shop to look the same as other Subway sandwich shops and offer the same products. You do have a little leeway such as offering something unique to your region; however when customers come into your Subway sandwich shop they reasonably expect that you will offer the same products as other Subways.
What works great for the company as a whole such as an exotic flavored coffee drink may not be successful in your area where you hold the rights to the franchise. You could still be required to carry this product even though it is not a very good seller in your town. The benefits however of owning a franchise still carries many benefits such as the buying power you receive. If you run a convenience store franchise then you can get products cheaper than if you were running the convenience store as an independent store. The bulk buying power is passed on to all business owners who have invested into particular franchise. Even though you may only own one business, the buying power of the franchise as a whole is passed on to your store because it is part of the franchise umbrella. A Subway franchise is one of many franchised businesses you can invest in to help you become a successful business owner.