With the increasing uncertainty engulfing the world economy, a lot of people are taking a step back and analyzing the benefits and drawbacks of holding a traditional 9-5 job and realizing that it just isn’t enough anymore.  They then begin to look for alternative ways to leave the rat race and finally achieve their financial goals.

The two most popular vehicles are undoubtedly are starting a home business and starting a franchise, with that in my mind, which offers the greatest potential?

Let’s first look at the franchise route. Most people are drawn to the idea of a business with an established name so that they can tap into an established client base as well as having advertising in place.  This may sound positive, but you must consider the disadvantages  that accompany it.

The most obvious disadvantage is the high start up cost to invest and buy your franchise.  There is usually a high upfront fee just to use the franchiser’s trademark and name, often inflated and there will always be the royalties that you will to pay out of any income you make for the entire length of the business.

Don’t Loose Control

When I was considering this option the one thing that made me look elsewhere, was the loss of control.  when you buy a franchise you will be giving up total control of all the key aspects and components of the business.  Any changes you were considering, even those ones that would be an obvious benefit, must be approved by the owner before they can be implemented.  Plainly put, don’t think that by owning a franchise you will be the boss…you won’t!

Another problem that is detrimental is a poor channel of communication.  I have heard of many instances where this has held back developing franchises, costing income and turnover and resulting in major disagreements.

In my experience as an entrepreneur there is a far less troublesome route to secure  your own financial freedom and that is the home business industry and in particular an online business.  Remember an online business is a global business utilizing the World’s largest market place, the Internet.

Many people around the world are achieving huge success through the home business industry.  This model allows you to earn a legitimate and substantial income while, importantly, allowing the freedom of a flexible schedule to travel and spend time with those you care about.  When legendary entrepreneurs, such as Donald Trump and Robert Kiyosaki proclaim that this industry is the number one to create more millionaires than any other in history, you have to sit up and listen!

So my advice to you when considering a franchise or home business, I would ask you to do careful due diligence, incorporating a thorough checklist, before making a decision, but I would strongly suggest the freedom and potential life changing income the online home business model offers.  Make sure you select an opportunity that offers ongoing training, support and an automated system that you can just plug into and then finally be in complete control of your financial future and success…

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