Business Owners – Franchise vs Real Estate Investing
You quit your job because you are the way better boss than your old one. Now what?
Are you starting a business? Buying a franchise? Starting that bakery, all your friends say you should?
What’s better; becoming a chocolate entrepreneur or real estate investor?
The trend of ditching the boss and becoming our own boss continues to grow. Technology has assisted in opening the barriers of the once coveted title, “business owner”. Together with a generational entrepreneurship mental shift in America since 2009 has increased the percentage of American entrepreneurs even higher.
The retail candy and chocolate industry maintain a rather larger market segment and is among the top list for new start-ups and franchises. Similarly, the housing market has continued to grow and even surpass values reached before and during the 2008 constriction. Let’s highlight some differences between starting your own business in these two “growing” industries?
Candy, chocolates and ice cream! Yum! There is no denying that chocolates can be dreamily delicious. But a pair of sisters that left high profile jobs at Gucci and fund management to open their own chocolate business recently told the press,”… it isn’t just another job; it’s a 24-7 gig.”
We have even read reviews that chocolates could be a ‘recession proof’ business. One can neither confirm or deny that thought. We assess no dish is insulated against changes in food fads or the rapidly growing diet/fitness trend. As with any retail business, there is always a high risk of liability, staffing issues, vendor concerns and space to lease.
Contrast this chocolate empire with the local real estate investor. Wholesaling, an exit strategy often exercised by skilled investors with strong marketing campaigns. This transactional business allows one to work from almost any location. Though setting up the business, securing financing and eventually scaling the business is a necessity with the investor just like the chocolate business will require.
Succeed in real estate investing and you will soon be able to afford a lot of chocolates.
Both leading real estate investing gurus and the owners of chocolate factories will tell you that after investing in your education you’ll still have to summon up the courage to face the unknown and leap in, have a deep passion for what you are doing and be flexible.