E-Source Says
The Entrepreneur’s Source Reviews – Entrepreneurship vs. Master’s Degree
The Entrepreneur’s Source Reviews – 6 Reasons to Pursue Entrepreneurship vs. Master’s Degree
In a job market plagued by low salaries, high turnover rates and virtually no job security, people are turning to alternate means to achieve their income, lifestyle, wealth and equity goals. As more people consider entrepreneurship as a solution to create a better work-life balance and achieve greater income, some also consider the pursuit of a master’s degree.
However, considering the price and the time required to obtain an advanced degree, it is worthwhile to evaluate alternative investments that can provide aspiring entrepreneurs a substantial return in the form of improved income, lifestyle, wealth and equity: franchising.
6 Reasons to Pursue Entrepreneurship through Franchising
1. Franchising Utilizes Existing Skills
Although earning an advanced degree arms an individual with valuable knowledge and credentials, the skillset that is built from the experience of owning a business cannot be taught in a classroom.
Franchising allows individuals to take all their transferrable skills and the experience they’ve gained working for someone else, and apply it to a proactive business investment.
If an individual decides they want to invest in a franchise in a different industry than their specific work experience, the franchise will provide the initial and ongoing training and support needed to make that shift.
2. Franchising is a Proven System
Franchisors have already figured out the kinks, making the end-user buying experience repeatable and duplicable. Franchise business opportunities provide a proven operating system that helps set investors up for continued success.
Investing in a franchise business allows you automatic entry into the successful history of that organization. With a franchise, you get a brand name and an image of quality and success.
3. Franchising Doesn’t Require a Degree
Only 19 percent of franchisees hold an advanced degree.
Professionals in the franchise industry develop their current skillsets through running the business. Instead of investing in a master’s degree, entrepreneurs can develop their education and skills through workshops, seminars, online classes and, of course, the actual day-to-day entrepreneurial experience.
4. Franchising is a Long-Term Investment
There are many possibilities when it comes to franchise business investment, whether it’s to build equity, have an appreciating asset, create a legacy to leave to family and children, or even eventually to become a semi-absentee owner and create some residual income.
Starting a franchise business creates unlimited income potential for not only the original franchisee, but their family for generations to come.
5. Franchising Provides Life Balance
It’s not all about the Benjamin’s: Aspiring entrepreneurs should also consider work-life balance in their decision to pursue an advanced degree.
The number one reason most aspiring entrepreneurs go into business for themselves isn’t money; it’s lifestyle.
Earning unlimited income potential is great, but the priceless possibility of achieving the life balance often unobtainable in corporate America is priceless.
6. Franchising can Start Now
The time and money it takes to earn a master’s degree could be spent researching, building and opening a franchise business, allowing entrepreneurs to begin building income, wealth and equity sooner.
Some studies have shown franchises have a success rate of approximately 90 percent, providing the opportunity to earn income and a return on investment fairly quickly. Earning an advanced degree may help to land a job or increase income two years down the road, or it may not.
Although there is no guaranteed return on any investment, for those considering entrepreneurship or an advanced degree, franchising may provide an opportunity for business ownership with less risk and better return.
For more information on taking the first steps toward entrepreneurship, visit: https://entrepreneurssource.com/