What Is The Cheapest Way To Start A Business? Part 1
You may well ask how long is a piece of string (11 ¾ inches I have one at home!). Because this really depends on what type of business you want to run. There are several options.
Open a shop, let’s consider the costs, find a business model and research it, find some premises pay out for the lease, stock the premises use your own capital to stock it or get a bank loan if you can. Then there is insurance, rates and utility bills to find the money for. Simple just open your shop and wait for the passing trade to drop in and spend a few quid on the items you have for sale simple.
Well may be not this approach could prove to be very expensive huge amounts of capital tied up in stock especially if no one wants what you are selling plus the added bonus of working 7 days a weeks. If you are not there every minute how can you make any money?
Perhaps an easier way is to buy a business franchise; this has many advantages over going it alone. With a top franchise you are buying into an already successful business model, you will get the support and training you need from a proven business formula.
You may baulk at the price of a franchise but are the very cheap ones worth the investment; unfortunately all franchises are not created equal or indeed offer the same value. Lets take a well know high street brand and a respected franchise Subway.
Why Subway? Well one has just opened in my home town and the shop it moved into was formally a charity shop. This has been fitted out in the Subway corporate image I have no idea how much this has cost but it will not have been cheap.
A subway franchise costs about £6,000 for the franchise fee plus the fitting out of the premises, and all the other costs above. So how much this will cost in the end could be frightening but I saw a figure on a franchise forum listing £120,000.
If the though of preparing all those sandwiches and working long hours 7 days a week is your bag and you have the funds it could be the one for you! NO? How about this?
Clean out wheelie bins, this one is £16,750 now if you charge £6 a bin then you will only have to wash about 3,000 bins to get your franchise fee back! I don’t know about you but I can’t wait to get started on a cold January morning cleaning out stinking bins.
With too many of these franchise opportunities all you are buying is a minimum wage job for years to come. Believe it or not you don’t have to risk your children’s inheritance on the words of Theo Paphitas you can start off for just a few pounds, you can minimise the risk to yourself and you can work the hours you want.
“It sounds too good to be true, but tell me more”.
You can start an eBay business for just a few pounds in listing fees, start by selling the stuff you no longer want or need and use the money you make as your starting capital to purchase some new products to sell. Did you know that you can sell the same products on Amazon? In some categories you will get a better price than you will get on eBay.
To me for the small retailer without a unique selling point and a hungry market the retail model is flawed and you will always be waiting for your customers to come to you.
What about working for yourself online? Easy to use template drive e-commerce packages are available at a very modest monthly cost for most hosting companies, why pay eBay’s extortionate listing and final value fees if you don’t need too when you can keep the profit for yourself. Sound good to you?
Watch out for Part 2 where I show you how to change your whole perspective about business. Rob..
Hi Robert,
YUK – the thought of cleaning out smelly bins ….
I’d want paying to try the idea – never mind giving them a fortune for it!…lol
Can’t wait to see part 2
Randy
http://www.RandolfSmith.com
Randy Smith@Internet Marketing Rambles recently posted..Warning – Guru’s Are Like Governments!
Blimey, Rob, I never knew franchises were so expensive! I have never bought one, although I have opened 4 shops and can verify that the costs of setting up are huge and it takes along time and hard work to pay off the initial costs. Great post, thanks.
Enjoy the journey.
Mandy
Mandy Allen recently posted..How do you relax
Hi Mandy it shocked the hell out of me too! The wheelie bin one was just amazeing!
Rob
Rob Corrigan recently posted..What Is The Cheapest Way To Start A Business Part 1
Don’t worry Randy no bins in part 2.
Cheers
Rob
Wow! Great information Rob.
I never knew franchises were so expensive either but I guess it depends on the franchise. There must be SOME out there worth having as it is a successful business model. I think like everything you need to do your research and be prepared to put in the hard work upfront.
Thanks for the great post.
Susan
Susan Owen-Thursfield recently posted..Why Should Stress Relief Never Be Free
Hi Rob
Yeah they’re expensive aren’t they.
I did look into it once but soon realised that it was not for me.
So, here we are in IM, and with the low entry costs its a much safer bet-provided you don’t spend the cash on all those so-called guru’s!
Best wishes
Mike
Mister Corrigan,
Right on the money, pal!
If the attrition rate for online businesses is 97%, the real world business failure rate is still out front at 99%.
Break Even Point is a concept most business people not only do not understand, they have no idea how much effort and long term funding is required just to get to that point.
This fact creates much heartache and as we now know, opportunity.
Thanks for this post, pal. This knowledge will change some lives, no doubt.
Barry the Bandit Blogger recently posted..My Secret Blog Idea Plan – How To Appear Extweemly- Extweemly Intelligent
Hey Rob
Good to have you on board
Franchises are a great thing…well they will be when we are successful enough to be selling our own
I’ve never really been sure about buying into a franchise, some of them are so expensive and like you said you’d be working for minimum wage for a long time…and others are cheap enough not to warrant doing…
and of course there’s nothing to stop you setting up your own business using a similar model without paying all the franchise fees…now if only I had a dozen ideas I could kick around that didn’t cost a fortune.
Cheers
Steve
Thanks guys, the “gurus” have had far too much of my dosh franchise NO WAY!! Unless anyone knows of a really good one…
Cheers
Rob
Hi Rob…
I simply won’t give up until I have achieved my dream…I am very tenacious!
Ha ha about the Wheelie bins! As for me…I don’t want any business unless it’s online! I’ve gotten spoiled and now I don’t think I could ever think about trying to start something offline.
I am truly after Freedom and working online will be my ticket
For anyone wanting an offline business…whoa to the cost of those franchises! Not for me!
Looking forward to reading the second part….
Good luck Rob…it simply would not have been the same without you
Kathy
Kathy Dobson@ Outsourcing to the Philippines recently posted..Outsourcing to the Philippines…Your Questions Answered
Hi Robert,
I agree with you that starting a traditional business does has it’s drawbacks as far as start up capital. Also a lot of those types of businesses fail for the same reason that online businesses never make it. The reason is lack of planning and market research. Just because you may thing people in the area where you live would like a certain restaurant, doesn’t necessarily mean that they do.
Proper planning and control is the key to any business whether it’s online or offline.
Take Care,
Steve
Steve Troutman recently posted..BoilerMaker 15K Roadrace July 11- 2010
Hi Robert,
Funny you should mention franchises. I was talking to a chap about 4 months ago. He had just taken over a KFC just outside Bristol. I asked him just out of interest how much one was, $250,000 was his answer. WOW I thought, that is some investment. That’s a whole lot of chicken you have to sell. The story thickens. This guy has made millions buying existing franchises that aren’t doing to well. Gets the takings up then sells them on. He reckoned on a healthy profit margin. No figures tho.
Pete
Pete Carr recently posted..Blogging-Why You Should BePart 1
Hi Kathy I really agree with you that the only way I am going to do it is to work online. Glad everyone talked me out of the wheelie bins ;-(
Rob
Hi Steve, planning is absolutley essential the advanatge of online is that you can really limit the risks, but its the planning part that is the crux to success and also just having a go!
cheers
Rob
Hi Pete, I think I agree with you that that sort of cash is too rich for me, it would be interesting to know how that guy managed to turn around the franchises. Perhaps he could make some money selling the plan to those that are struggling.
Cheers
Rob
Hi Robert,
There are Business and there are Business.
I used to help out my mum and uncle during my school holidays, at a Chinese Food Stall they run in Singapore. Business was great during that time. I was asked to help to wash the dishes, which seems forever during the peak lunch hours.
I HATED IT! The buckets and pails just kept coming.
I HATED IT! Especially when I had to clear the left over food before I can wash the dishes.
That horrible experience affect for more than 25 years til now!
But I am grateful for that experience because it made me to decide NEVER to be involved in the food business, franchise or no franchise. I love food, and I do share some passion in cooking, but food business, I have to say no thanks.
I think people wanted to start their own business for different reasons. Franchise and Subway is just one of the many ways.
But Real Entrepreneurs can never really consider to join a Franchise business because they love to be creative and always want to re-invent and do things different and better. This is not from me, but what I learned from Rich Schefren, the guru of gurus in a seminar playback video I watched.
Thanks for sharing this post and I look forward for your Part 2 to arrive.
Cheers
Jason Ser
Hi Robert, good post. Starting a traditional business costs most people their life savings. Then there is the risk, business is business. When starting any business there is always a chance it may not work because no one has a crystal ball. You must do research and make an intelligent decision.
Research and make an intelligent decision with an online business. The costs are almost nothing compared to traditional business so if it doesn’t work out you don’t lose your life savings. If you fail, you can even try again without giving up.
Terry Conti
Terry Conti recently posted..Sell your ebook on its own or put it on Clickbank What do you think
Excellent post Robert, the problems you outlined is precisely why I like Internet Marketing. There are costs, but they’re miniscule compared to any other business.
Funnily enough when I closed my last Company down, I looked at all the franchises you mentioned. I also looked into the now-bankrupt Threshers retail chain. They wanted £30,000 franchise fee, plus you needed at least £20,000 for stock. So they wanted me to risk £50,000 for the priveledge of working 7 days a week, and employing myself for perhaps a £20,000 wage, if I was lucky….. NO THANKS!
Internet Marketing is the bees knees.
John
John McNally recently posted..JESUS “Son of Man”
Hi Terry the costs of an online business failure is really small in comparison to a traditional business, which reall makes it a no brainer for me.
Rob
Hi John its amazing that anyone will want to risk these amounts of money on franchises or even setting up there own new business, its just scarry if it all goes wrong.
Cheers
Rob
Hi Jason,
nice to get the perspective of someone who has been there and done it. I agree I think what you were doing would reall put me off this sort of business too.
I had the good fortune to vist Singapore a few years ago and I thought it was excellent, I have it penciled in to go back again.
Cheers
Rob
Hi Rob, How on earth do the franchises sell for that sort of money? Surely people realise the work that has to go into it, but i suppose having a big name over the door is pretty tempting for some.
As for bin cleaning, i have enough difficulty doing my own so wouldn’t relish the thought of having to get out of bed and do other peoples all day every day.
Looking forward to part 2 Rob.
I’ve created a twitter list to go with this challenge Rob, could you let me have your twitter name so that i can add you to it please?
R&R, Barry
Barry@The Newbies Guide recently posted..Bloggers- Need A Little Lift
Hi Barry,
don’t yet have a twitter account (dozy sod) but on the franchaise thing I do know of some body that bought into a property let franchaise about 7-8 yeras ago for £20,000.
It is quite likely that in another 7-8 years he will be a millionaire, they are out there but its finding the right one in the right area and making it work
Cheers
Rob
I guess it all comes down to find a need and fill it. That works online too. Still haven’t gotten it worked out, but I haven’t given up yet. Happy to be joining in with merry band. I see some names I recognize from the 100 comments challenge
Cheryl@backlinks recently posted..Tough Guy 2010 When a crazy idea became a reality!
Hi Rob,
I don’t know about buying a franchise to make the sandwiches myself for a living, but I could certainly eat them (that’s got to be cheaper) and still have some pounds left to start working online.
Let part 2 come.
Jose
Hi Rob,
It is quite a expense getting into a franchise…a Macdonals franchise I am told cost around 1 million dollars here in Australia.
It is so hard to believe that people spend so much money and time to go into business… Why not start from scratch…still cost a heap more than an online business.
Look forward to part 2…Good to meet you here… this is a fun idea the 100 post challenge..time consuming but great
Cheers
Bryan
Bryan McHeyzer@The Internet Intern recently posted..Increase Your Squeeze Page Conversion Rate!
Hi Bryan, I have learned so much from the challenge trying to get part 2 up today it will have soem great free content.
Cheers
Rob
Hi Robert
I’ve owned a couple of ‘brick and mortar’ business in the past – high risk, high overheads, long hours, never again!
I agree that eBay and Amazon are a good way to start an online business, lots of traffic there with credit cards at the ready. Then move on from there if and when you are ready to.
Best Wishes
Lynn
Hey Robert
Excellent post! You have done a great job in pointing out the pitt falls of running any kind of business.
Many people say that online marketing is easy, but I would beg to differ with this. Its true the initial set up cost can be low, but it is extremley competative and there are loads of so called Guru’s promising every thing under the sun but delivering very little.If it was that easy we would all be millionares.I Look forward to your further tips.
Stan Young recently posted..Technology is changing our world-Entrepreneurs- Did you know-are you ready for the Challenge
Hi Robert,
Great Post! Makes you stop and think, if I spend all that money on a Franchise business will I ever see a profit. Even more import, will I ever see my family and friends.
If I had to choose between cleaning wheelie bins and sitting at a computer, I certainly know which one I would choose.
Looking forward to Part 2.
Good luck with the Challenge.
Take care.
Robyn
Robyn recently posted..To Continue or Not To Continue – That is the Question
I am pleased I discovered this blog, I couldnt discover any info on this topic matter prior to. I also operate a site and if you want to actually severe in just a little little bit of guest writing for me if feasible feel free of charge to let me know, i am usually look for people to check out my website. Please stop by and leave a comment sometime!
Hi Stan,
online is definatley not easy it took me over 6 months to crack eBay and 9 to become a powerseller, but this is harder much harder than that.
Then again there is always the smelly bins!!
Rob..
Hi Robyn it was a tough one but the coputer won out over the bins!!
Rob
That should be computer!!
Hi Rob,
Read part 2 as well.
I think I’d prefer a subway franchise to wheelie bin cleaning, horrible smelly things but now many houses in the UK have multiple bins, blue,green, brown etc just like Smarties; so you can call at the same house every day of the week I suppose?
I choose the PC as I had tried and lost too much money in conventional business however early days to my internet fortune.
Thanks again for the insight.
See you soon.
Richard
You can follow me on Twitter if you dare http://twitter.com/rich1d
Richard Davy@Together we will succeed recently posted..100- no 110- blog comment challenge
Hi Robert
I had read that the top name franchises were expensive, but a wheelie bin setup for $16750, must be using vodka to wash the bins out, can’t be water at that price.
I have tried the ebay route and the Amazon method, whilst these are fine, you are tied into their policies and restrictions. I gave up on ebay last year during their policy change frenzy, just could not be bothered with it any more, plus my motto for ebay now is – ‘we have a fee for that’
Going on line and creating your own business is the way forward, this allows you to build better business relationships on your own terms, whilst avoiding the hassle of the delivery services.
igor
igor Griffiths recently posted..The Facebook Guide
Hi Robert:
Nice post you have here.I know frehcise business is that expensive but you make decent money from the very beginning in it. Besides there is service frenchasing. It is less expensive. You do not have to work that hard, but hire minimum wages help to do the work and make profit from commission. You become the manager. Well that is the case with all frenchising business. You borrow the money for starting the franchise, start the business make profits and pay to the loan and frenchise expense. The rest you use.
That is why working from home is becoming so popular. But then if more people worked from home…. This tipic will never end. Back to our world of informative products and workig from home. Rober now I will like you to read my blog post and write a comment on my blog.
Talk again
Fran Aslam
Fran Aslam @kw LUV recently posted..How To Write An eBook That Is Included In The Best Seller List
Hi Igor these are really the things that have put a lot of people off eBay in particular thata why I have gone down this route, I do still use eBay but mostly as a lead generator these days.
Cheers Rob..
Hi Fran thanks for dropping by, I take your point about minimum wages startups and franchaising. Thats why I have turned to IM marketing where I am only responsible for myself and no one else.
Thanks
Rob
Hi Rob
We are so lucky to be living at a time when the internet gives us this choice.
I believe that true entrepreneurs will make it happen with or without the internet (as they have done for generations) but the low cost of online business gives the rest of us a chance we wouldn’t have had otherwise.
Stuart Turnbull recently posted..We need your ‘make money online’ ideas!
Hi Robert,
I would vouch for an Internet Business all the time. As I have both. My offline business does cost a lot but it is the bread winner at the moment.
There is far more advantages with an online business. Your shop window is out there for the whole world too see, not just restricted to your local high street.
Research, research, plan, plan and a little more planning. I know its boring but if there is no body there to buy your best stripy, digital loudest blowing whistle, how do you expect to sell any????
Cheers
Craig
Craig recently posted..Put Your Email Marketing On Auto Pilot By Using An Auto responder
Hi, Rob,
I am no longer wanting to trade hours for income. There is never enough time to make the desired income without sacrificing time spent on other areas. I prefer to trade products for income. I am learning how to leverage my time to create sites that will allow much more income than trading time for dollars.
Great examples in your post,
Fran T
Fran T recently posted..Betalains to the rescue!
Hey Robert,
Good blog post.
Franchises are always an interesting business model to look at but they don’t really interest me (for the reasons you listed).
Good read and good post.
Peace,
Darren L Carter
Darren L Carter recently posted..Free Atomic Bomb Survivor Inspiration Book – Finished!!
Hey Robert,
I think the cheapest way to start a business is with an 87 cents domain name and a hosting account with hostgator. A person could literally get started making money online for less than $2. I put together some videos on how to do it here.
Much Success
J
The Cartoon Coach
Carstarphen recently posted..Which Online MLM System is really the best
Hi Rob,
A great thought provoking post.
As someone who has ran a few conventional businesses I can vouch for the capital outlay required. I lost £30K on one and decided to return to my original service business – little capital required but very time consuming.
I retired awhile ago, got bored and decided to look at franchises in detail. The one I liked the most had a spend of £25K, I researched it and found I could set myself up in a similar start up for around £5K!
The other thing about franchises is most franchisors want 10% of the franchisees turnover plus a hefty franchise renewal fee every few years.
I only wish IM had been around all those years ago, it could have saved me a fortune and a lot of physical effort. It’s no contest really, which is the best way forward.
Regards,
Bill
Hi Stuart I agree I started by trading on eBay like yourself and expanded, I dont think I would have got so far just with a conventionalbusiness.
Cheers
Rob
Hi Craig I agree its boring but thats why so many of these fail, people just think you throw up a web site and the world will come to your door, they forgat about the promotion and driving traffic its an ongoing thing. We live in an instant society and people want instant results.
Cheers
Rob
Hi Bill, that does not suprise me I often think that soem of these are over priced. For someone with common sence and a bit of experience I am sure they could be done very cheaply indeed wheelie bin at £16,750 what for? Or a dog wash at £12,000 whats wrong with a hosepipe and some shampoo, about £10?
Cheers
Rob
Hi Darren, I know there are some good ones but it seems to me these are few and far between, then theres staff!!!!
Cheers
Rob
Hi Robert,
Good post and job comparisons.
In my opinion, it does not matter what you do as long as you do it well. You will find in every business you need to build it to reap the rewards. If working 7 days per week is what is needed to get your business off the ground then so be it.
In my experience this is the same for online businesses too. The more work you put in the more you get out!
Thanks for the good read Robert.
Daniel Sumner recently posted..Self Learning – Outsourcing – Student and Teacher
Hi Rob,
It is a very good example you are sharing in the post. Some of my friends they want to start their business with franchise shops, but I think the competition of food franchise is too competitive so most of them didn’t last long. However, one of them who started his own business with a small american style resturant, it’s small but very unique. He spend a lot time to make the decration, to select the ingredients, to choose work partners. The traditional physical shop requires a lot of time and money, compare with online business, the cost and time are relatively low, so most of them didn’t succeed.
Thanks for sharing.
Connie
Connie Chen from Seed Of Magic -True Beauty Tips recently posted..Walking Is Another Art Of Beauty
Hi Robert
Who in their right mind would pay 16,750 for a wheelie bin franchise I no I wouldn’t. Imagine how many different businesses you could set up online for that.
Online businesses are the way forward as more and more people are turning their backs on shops and going online to find what they want.
Great post and good luck with the challenge
Regards
Dawn Kay
Dawn Kay recently posted..Free Internet Marketing Blueprints and Checklist Guides
I was interested to read this post. I was a glutton for punishment. I was a partner in a restaurant business many years ago. I got out after a year because the hours were gruelling and I had 2 small children.
I opened a Delicatessen shop of my own soon after that. It was impossible to get into a high street location because Landlords would not take a chance on me as I had no track record. I loved it but it was hard work and very labour intensive. I had enough of that after 3 years.
Now, many years later I love the freedom of the internet lifestyle.
Sandy
SandyHalliday@Making Money OnTheInternet recently posted..Failure Is Not An Option In Making Money Online
I have never myself believed in the franchise model, at least not for the one buying into the franchise, it is great for the company running it.
Ebay companies can be good as well, but there is a lot of competition so I am not sure that is something I would go into. Of course your reference to cross working both Amazon and Ebay might make it a bit safer (that was a new tip to me btw, thanks!).
Internet businesses are often shoddy and not very well prepared, but if you have a real product and make a real business plan it is a great way to start a business without having to spend much money.
It does also give you the chance to throw a bunch of “dirt” (ideas) against the wall and see what sticks.
Daniel M. Wood @ Sales Techniques, Motivation and Success recently posted..How to Use Motivation to Accomplish Your Goals and Start Living Your Dream Life
Hi Robert
I agree with everything you say. Buying a franchise is like buying a job. Whereas anyone can set up an INTERNATIONAL internet marketing online business with no technical knowledge with just a few mouse clicks on eBay.
I’ve posted a link to this page on identi.ca for you (makes a change from Twitter!)
Martyn Boaden recently posted..What Was Your Biggest Challenge When You Started Your Internet Marketing Online Business
Hi Martyn, many thyanks for that I appreciate it I had never heard of indenti.ca before. Who waqnts to buy a minimum wages job for thousands of pounds crazy!
Cheers
Rob
HI Daniel, eBay is something that I still use but not as much as I used to, the trick is to find small profitable niche markets with only 1 or 2 pages of competition thats really how to take a slice of it.
Cheers
Rob
HI Sandy, for me I dont like this 9-5 lifestyle and haveing to be there all the time, this is much better I work when I want to, and I can go away when I want too and evrything is automatic. Simples!
Cheers
Rob
Hi Daniel, I agree you have to find soemthing you enjoy because anything will become intolerable if you don’t really like it or are doing this as a job of work that isn’t enjoyable.
Its about finding your own way.
Cheers
Rob
Hi Dawn, really what we are doing is unique, for me its all about life style not work but at the momnet its all work and no life style.
Cheers
Rob
Hi Robert,
I don’t think I would ever try a franchise business and especially cleaning out wheelie bins! LOL
Exactly why should someone risk his children’s inheritance and your life completely?! To be honest I think only 1% of all these franchise opportunities would worth your money investing on.
Making money on eBay is not that risky and ANYONE can do it if knows what he is doing.
Anyway, I am looking forward the second part!
Take care,
Andreas
Andreas Spyrou @ Free Online Marketing Tips recently posted..The Biggest Affiliate Marketing Mistake – Mistake 6
Hi Robert, A most well written article, I must say! Have you been studying or practicing writing lately? I’m looking forward to your next post for sure. I’m not an active product lister on ebay yet but as soon as I’ve got several blogs running on semi-auto-pilot in a few select niches, I may give it a go. Be well, Steve D.
Hi Rob,
When you put it like this Rob, I wonder why I bothered to set up my bricks and mortar retail businesses over the years.
But I can certainly vouch for all the personal costs, not only in monetary terms, but also in unpaid time. Would I do it again from scratch today…no way!
Hence my online activities to improve my lifestyle for my family.
Great post Rob and nice to meet you on the challenge.
Regards,
Brian
Brian Alcock recently posted..So You Failed…So What!!
they are expensive which is why alot of ppl will just do some sort of home business and try to be successful that way they are not out alot of money.
Amy Steelman-Prueter recently posted..Are you up for the Challenge
Hey Rob,
My string is bigger than your string ha ha.
I would love a subway franchise but only so I could eat all of the stock, so the business wouldn’t be much of a success.
This post has a wealth of information, god knows how you know so much about it all!
Online business is more appealing to me for sure.
Speak soon, Sally
Sally @ blog hopping queen recently posted..Writing Testimonials Benefit You Too
Hi Robert
You can make a small fortune in the airline business. Just start with a large fortune. I don’t believe how people can make a good profit with businesses. It amazes me. Pennies here and there. Whew. You have to have something very popular and charge too much.
Thanks for the post.
Alex
Alex@first100items recently posted..Heating
Hi Robert
Kool examples about Subway and the Wheelie bins … Yes, offline business do have a lot of cost and risk attached to it. However taking your online business and also creating an offline business from it is what I think I will be looking for in future. Again this is not too different from online as it is going to be a knowledge/info/skill based business …
Look forward for the second part of this post … have never traded on ebay / Amazon yet, but yeah would like to do it!
Nice to meet you … all the best for your 100 blog post challenge.
Cheers!
Abizer
Hi Sally, how often have we heard that size isnt important and it turns out it is!!! In todays times burger king are offering franchaises to people who want to run 4 shops, at £300,000 per shop with £600,000 to £800,000 pounds liquid assets required To think I set up my online business for £70!!!
Cheers
Rob
Hi Amy, as you can see from my last reply, is it any wonder people are put off by this!
Cheers
Rob
Hi Alex on the same thread the quickest way for a billionaire to become a millionaire is to buy a football club.
Cheers
Rob
Hi Abizer, have a look tthrough my previous blog posts there is a load of stuff about eBay and Amazon that should get you started.
Cheers
Rob
I would never have thought to open an offline business. I am really not business oriented, but online business sounded so cool I decided to give it a try. I have tried a little selling on eBay. Never tried Amazon.
Deb@Futures Trading recently posted..A Nice Quicky
Hi Rob,
Wow, who’d of thought franchises would be so expensive.
The internet is the business model that appeals to me, being able to work from anywhere in the world – There’s just nothing to compare.
Enjoy the challenge
Michelle
Hi Rob,
Thanks for visiting our site at theequest.com.This is Pierre & Pierrette from the 100 comment challenge.
Your views are well taken.Been there, done that is often the case for many of us on the challenge. I have done the Mcdonalds and franchising thing and you are so right. Their was a time where this model was great but the world has changed and evolved a lot over the last 100 years.
Just the fact that we as a group is still out here willing to claim our right to our own destiny shows the determination, will and guts to stand for what we really are,Great Individual Human Beings.
Nice to know you and follow you Rob.
Pierre
Hi Rob
After the bins, I’m looking forward to part 2
I believe the key to following a model is not to be too slavish. There are some grest business models around, but we need to add the ‘Why me’ factor.
Good post
John
Author of ‘Sticky Memory’
http://johnedler.com/blog/sticky-memory-have-i-coined-a-new-term-/?/html
Hi Rob,
I finally got here!! Woo Hoo Happy Dance. Only a few more blogs to go! I had no idea this challenge was going to be so big! I have been getting lost in blogs for hours!
I am looking forward to part 2!!
Franchise businesses are good for people that want to in theory work for themselves however technically they have just bought themselves a job!!
The advantage of franchises is that most have a head office that will give you support regarding marketing and business operations, however the downfall if it is a business where you need to buy stock you often have to buy from their dedicated suppliers and no one else.
I love ebay! As soon as this challenge is over I am about to start out on ebay again. I have a credit card that is in desperate need to be paid off and 2 shed and a spare room of stuff that can get sold!
I am on a mission to sell off everything and have the blasted credit card paid off by Christmas!
Hope everything is going well for you and you have enjoyed the challenge. I do hope that everyone gets around to everyone’s blogs. It is up tot the contributors now as to the level of success this challenge really is.
See you back here soon!
Cheers
Jacinta
Jacinta Dean recently posted..The 100 Blog Comment Challenge Update!
I’ve never been interested in owning and operating a franchise. I have had friends that have looked into it but none ever bought into one.
My father-in-law operates a Chick-fil-a store but their franchise model is much different. To get into Chick-fil-a you only have to put in $20,000 (at least last I heard). You operate the store just like you own it. You pay corporate a certain percentage, you pay to have equipment fixed. When you decide to leave, you give the store back and they give you your original investment back.
Too many people get caught up in the idea of having their own business but then they end up working more hours than they did before. The ideal business is to have people operate your business for you.
I like the online model myeslf and I think I will stick with it.
Good luck to you!
- Rick
Rick Byrd @ MarketingWithRick.com recently posted..Business Ethics – Is There Such a Thing
Hi Robert,
LOL, I have to chuckle of some of this. Nice post by the way. Did I ever tell you I know a guy named ByTheWay? No? It is true.
I know folks are giving it their all to finish up the marathon before sundown tomorrow. It has turned to quite the challenge and many many hours have gone into a dream child. I Wonder how many will finish it.
Nice to meet you.
Justin
Justin Case recently posted..Best Choice – Hot & Sexy Robin Hood Halloween Costumes
Hi Robert,
Bring on part #2 looking forward to reading it. I’m still making my way around to all the blogs. I have a lot of ground to cover so I can leave a comment on them.
Enjoy the Challenge.
Mike
Now there’s an idea!!! A franchised IM business. I’m not sure if it would work though as there is a different meaning to the word territory or turf when dealing online compared with a physical shop or service provider offline. It might be something worth following up
Michael Pedzotti@software tools for bloggers recently posted..Guess who is guest posting
Hi Robert,
I was just looking over franchising recently and you know there are some home-based franchises. Isn’t that something? The only difference is business opportunities do not have stable of a system as franchises so there are pros and cons. However, this post was interesting. I’m beginning to see more and more into the home-based part. Thanks for sharing this discussion.
Thu
Thu Nguyen@BloggingFor recently posted..The Complete Helium Report REVIEW by Bob Younce of The Writing Journey
Hi Robert
Nice to see the comment on the last day of the challenge. Thank you for the comment. I want to read your new post and write a comment there.
See you later
FranA
P.S.
My new post has a news for bloggers and a suggestion for ebook writers
for making money.
Fran Aslam recently posted..Information Technology Revolution – Changing everything From Ebook Writing To Blog Writing
Hi Robert,
I cant believe that more people don’t start an internet, or homebased, business. You can get something up and running for less than $20 / month – and even free if you do the correct research. There are millions of customers to online business owners!
Glad you posted this and positioned it as the CHEAPEST!!
Great to meet you on the 100 comment challenge!
Gwen Tanner@Product Creation Blog recently posted..10 Free Tools for Your Product Creation Toolkit
Hi Robert,
Those figures for a Subway franchise sounded quite steep… the add-ons are where they get you eh? I’ve always enjoyed eBay so it makes perfect sense for a start-up… Key is to have a product people want or you’re back to square one…. Thanks for the information. Stopped by on my 11th hour visit for the 100 comment challenge.
Best,
Elizabeth
ElizOF recently posted..Yoga Love- Learn to Add Balance to Your Life…
Hi Robert
You have analyzed the situation very nicely.
No franchise for me. I shall follow the internet marketing path.
I look forward to your future posts.
All the best
Eamon
Hi Rob
Can speak from experience about the costs of ‘normal’ businesses. Compared, online is so very affordable for everyone. The one big thing that everyone online has to get a handle on is getting traffic to the site and building a list of customers.
Regards
Anne
Rob
An interesting post which is certainly thought provoking. When you contrast a franchise fee with setting yourself up online there really is no contest as to which makes more sense. Granted you don’t have the support of the “franchisor” behind you but with determination you can actually make more of a success in working for yourself, after all you don’t have to pay a percentage of profits!!
Ill look out for post 2….
Tom
Tom Harvey @ Tom-Harvey.com recently posted..Video Marketing – Anatomy Of A Successful Affiliate Campaign
Hi Rob,
You are making a very strong case for online business in this post.
I think that the start up costs for a conventional business or a franchise are prohibitive these days.
And the long hours are no fun either.
Vance
Vance@John Chow’s Last Dot Com recently posted..John Chow’s Last Dot Com Pho In Vancouver- Live Event Networking
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Very nice article. I’m anxious to read on Part 2. Where can I find a link to that?
Hi Rob, Subway are indeed a huge and successful franchise with more outlets worldwide than any other franchise. It does require a large investment though, naturally, and there are other cheaper franchise options for those considering the franchising route but don’t have the money to invest in something as large as a Subway. I like the wheelie bin idea… its certainly something that people are always going to need!
Joe
Hi Joe, its reall what suits you best at the end o f the day there area lot of really good franchise models out there and these don’t have to cost the earth.
Cheers
Rob
Hi, I truly appreciate all of the excellent content you might have the following. I’m glad I stumbled upon your web page.
I think Theo Paphitas would be proud of you post hehe
There really is no need to re-mortgage your house to start a franchised business as the sheer number and range available is staggering!
Cleaning out smelly bins may not be for everyone, but the model applies to many franchises.