Printer Friendly

ENTREPRENEURSHIP IN RISKY TIMES: CONSIDER FRANCHISING

 ENTREPRENEURSHIP IN RISKY TIMES: CONSIDER FRANCHISING
 WOODBURY, N.Y., March 17 /PRNewswire/ -- Want to be our own boss,


but afraid that a start-up business might fail? Can you run your own business, mixing independence with a sense of security?
 According to Rick Kean, executive vice president of Dunhill Personnel Systems, Inc., a national franchise operation of personnel recruitment firms, security and independence can walk hand-in-hand -- if the business you are starting is a franchise.
 "A start-up business is always a high-risk investment," says Kean, "but franchise operations offer a safety net -- an umbrella of experience -- with a proven business plan already in place, so there's no need to reinvent the wheel before you get started."
 In fact, Kean points out that independent start-up businesses suffer a failure rate of close to 75 percent in the first five years, while franchise operations present a success rate of close to 95 percent.
 Although franchises offer a decreased financial risk, they're not guaranteed to succeed. According to Kean, it's critical to make sure you've got all the facts before you jump into anything.
 Franchises act as a safety net, because the franchisor provides a certain level of support for your business. "But you have to make sure how much support will be provided before you get in too deep," Kean warns.
 Find out how much training the company offers in basic business operations, as well as how much assistance is given for advertising and marketing campaigns. "If there's not enough support," says Kean, "you might as well be on your own."
 Kean warns entrepreneurs of the dangers of being seduced by the opportunity to own their own business. "Many go in with rose-colored glasses," says Kean, "And wind up getting burned by a bad investment."
 Kean offers the following "food for thought" before making an investment in a franchise. Contact other franchisees to see how their business is doing. Discuss their business in depth and ask how they feel about the support they've received. Hire an outside advisor for legal and financial issues. Before getting involved in any business venture research, evaluate and plan out the whole investment.
 -0- 3/17/92
 /CONTACT: Maria Gordon of G.S. Schwartz, 212-696-4744, for Dunhill Personnel Systems/ CO: Dunhill Personnel Systems ST: New York IN: SU:


SM -- NYSFNS1 -- 8575 03/17/92 07:10 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 17, 1992
Words:389
Previous Article:ANALYSTS INTERNATIONAL DECLARES REGULAR QUARTERLY DIVIDEND
Next Article:STEELWORKERS-SPECIALTY STEEL INDUSTRY SEEK MEETING WITH PRESIDENT, EXTENSION OF VRAS
Topics:


Related Articles
SELF-EMPLOYMENT RISES AMONG DOWNSIZED; GROWTH REFLECTS EMERGENCE OF 'GOTTA BE'S'
Start-ups need free cash help.
SIFE sponsors one-day career expos slated this fall.
Franchise foundation awards scholarships. (IFA Educational Foundation News).
Start-ups get boost at franchise event.
Scholarship named for former IFA president: first DECA scholarship planned.
Take young entrepreneurs, add a dash of franchising and stir vigorously.
Entrepreneurship; the engine of growth; 3v.
Private equity "liberated" Dunkin' Brands, Chairman and CEO tells House Committee.
Monmouth University to Host Franchise Expo and Seminar on Oct. 27.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters