Is it time to finally take the plunge and invest in your own business? For the past five years, the employment outlook has made steady, if not plodding, progress. While there are multiple gains quarter to quarter across the board, many times the outlook hasn’t matched predicted totals. And a lot of this news needs to be taken with a grain of salt. That grain is your local market outlook. While booming local economies such as Dallas, Texas get plenty of headlines (fracking may be to blame), several other areas of the country remain stagnated. Which is why it makes sense to take a long, hard look at the opportunities in your own local job market.
First things first, how does one go about finding local employment statistics in order to build a yea or nay case for investing in your own business? A great place to start is the free information provided by the U.S. Department of Labor’s Employment and Unemployment Statistics site. You’ll have to mine through a few links to view reports, but they are localized, current and accurate. While this is what the U.S. Federal Government has to say on the subject, there is no substitute simpler than taking a drive around your own immediate community and making relevant notations.
If you’re thinking of investing in your own business in your own area, be prepared to do some research and critical market analysis. What is the need in your community? Does your area have an abundance of quick serve food establishments and one dry cleaning operation? If you can assess a particular need where you feel like you could make an impact, make a note of it and be ready to discuss particulars with a qualified FranNet representative. We love it when our clients come armed with information to our initial meetings. We can help you separate the proverbial wheat from the chaff when it comes to finding a perfect franchise fit.
Last but not least, timing can play a big factor in determining not only the local job market outlook, but whether it’s a prime opportunity to have you invest in your own business. Factors in determining this may run both sides of the gamut, including local plant closings or the establishment of a new company ready to hire hundreds. Keep in mind that in your community are your customers. If you’re prepared to invest in your own business at the local level, do your best to fulfill a specific need within the community. Get out and talk to people including local business leaders, civic officials and definitely check in with the closest chamber of commerce.
When it comes to investing in your own business, you may find that there really is no place like home. And with perseverance and commitment, you may just become the next FranNet success story.
Do you feel that you’re ready to get started? If this article has inspired you to investigate a franchise opportunity, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet of NJ & NY is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.