A lot of people think that the only way to truly run their own business is to own it from the ground up, from concept to conception and every shred of intellectual property. This may be ideal for certain entrepreneurs, but not everyone wants to be alone in a sea of difficult economic choices. Having a little less responsibility can make earning a living much easier. As with any form of financial planning, coming up with a solution that is tailored to your strengths and preferences is key.
Work just for you
Having a whole business on your shoulders may not be ideal for every self-employed person, but that doesn't mean you have to remain within the rigid world of middle-management or white-collar employ. There are plenty of people who make due with freelancing and per diem positions, working a day or so at a time for certain clients and then moving on.
Business Insider wrote that having a one-man operation is much easier for those who want to do their own thing without worrying about excessive overhead. These enterprises are usually run from home or online, minimizing the cost of advertising and creating more visibility for business messages. Increasing income and doing away with additional maintenance inherent to a physical storefront will maximize profits, the source pointed out.
Instead of dealing with all the hurdles and difficulties of a one-man operation and the overhead of a private company, some entrepreneurs choose to team up with tried and true business plans that are easy to launch thanks to their notoriety. These stores are also easier to get commercial loans for, as financiers know that the company has a reliable model and are backed by a much bigger corporate entity.
These stores are privately run, though they carry a large organization's name. In a way, though, this allows owners to fill the leadership role they want without being weighed down by the uncertainty or tribulations of forging a startup from nothing. A Reuters report showed that continued economic strife is making it harder for fresh startups to have a chance, as success and spending are so limited these days. In order to find more viable financial structures, potential owners and investors are looking for reliable resources like franchises to stir more market activity without taking too big of a risk.