Question added to topic Franchises •
January 8, 2008
What kind of franchise is the easiest for me to get started at?
I am a 23 year-old female wanting to open up my own business. As a first timer, do you think opening a smoothie and coffee franchise is the best way to go? I'd like a steady income as I learn about business and hopefully open my own franchise in the future. I have $50,000 in savings and my uncle will loan me the rest to start up my business, but everyone is telling me that I am too young. But I've been ready since I turned 18. I am currently working on my Bachelors in Business Administration and Management.
I think both smoothie and coffee franchises can be great for many people but I have no idea if they'd be great for you. My suggestion, if you want a steady income while you learn about these businesses, would be to get a job at whatever franchise you're interested in and then work there for a while. You'll get an income (something that's not guaranteed when you're the owner) and you'll be able to see if this business is what you want to spend a few years doing. Then, after a while, you can open your own franchise if all the lights are still green once you've gotten a good real world experience in the business.
Jeff Elgin has almost 20 years of experience franchising, both as a franchisee and a senior franchise company executive. He's currently the CEO of FranChoice Inc., a company that provides free consulting to consumers looking for a franchise that best meets their needs.