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If you once had a well-paying job, got downsized, and could not get a comparable job, then the latest statistics about stagnant growth in employment can be distressing. After trying for a considerable amount of time to get back to the financial level you once enjoyed in your area of expertise, you might be tempted to simply go back to school to get the skills you need to start in a new industry. Unfortunately, getting skilled up in a new industry doesn’t guarantee that you will get a job. You might spend years getting a degree only to find it difficult to find work.
While going back to school is certainly one option to help restore your finances, another option that won’t take quite as long to start earning a healthy income is to start your own business. However, this can seem daunting if you have always worked as an employee and have no business experience. Fortunately, it’s possible to get business experience as you run a business through franchising. A profitable franchise will help you earn the income you need, and there is a high probability that you will earn more than you did before you were laid off from your best job.
Open a Store
When you think of a successful franchise, you probably think of fast food restaurants, food trucks, or providing some kind of labor-intensive service work like steam cleaning carpets. However, there are many types of franchises available, including running a retail store.
A retail franchise that has done consistently well is the UPS Store. Besides developing a proven business model, their products are always in high demand because people always need to stock up on stationary and send and receive mail and packages.
Here are some of the products and services that can make a UPS Store lucrative, especially during the holiday seasons when people are in a rush to send out their gifts and don’t want to spend hours waiting in line at their local post offices.
Here are some products and services consumers can get from a UPS Store:
- Mailing Services. Business people often want to send direct mail to customers to promote a special offer or want to ship gifts to partners and clients to build goodwill. Additionally, families often need to send gifts to relatives and friends to honor anniversaries, birthdays, Christmas, and other special occasions. Consequently, UPS stores have a business-to-business and business-to-consumer line of products and services to expedite mailing.
- Packing and shipping. Business owners are trained to become UPS Store Certified Packing Experts®. Consequently, they learn how to pack and ship any size of orders securely to avoid breakage or damage during shipment. These packages can be shipped out regionally, nationally, or internationally.
- Freight. Sending freight often involves a lot of logistics. A UPS store can send out bulk products to a business’s customers. The store takes care of all the details — from packing to arranging for secure ground or air transportation.
- Printing. Business customers often need branded holiday cards or to send out professionally printed direct mail. Additionally, businesses, as well as consumers, often need to send out customized or branded gifts. UPS stores offer a digital printing service to customize cards, invitations, and letters. These gifts can be printed with business logos or family photographs or a special design. They can also be directly shipped out to the recipients.
- Mailbox. Many small business owners who work from home or who travel a lot on business need a real address for legal and practical reasons. USP provides a reliable mailbox service to manage their mail and even sends notifications of all deliveries.
Benefits of Buying a Franchise
If you want to start a business, it will cost you less to buy a franchise than to replicate a business model of your own.
Here are 3 advantages of buying a franchise:
- It is easier to get investment funding. Since a franchise already has a financial track record, it is easier to get a loan to buy a franchise than to sell a banker on investing in a new business idea.
- As a franchisee, you are educated on the most important aspects of running a business—from how to manage day-to-day business operations to how to create an effective marketing and sales strategy. You are not alone and get plenty of support to help you succeed.
- You can leverage the benefits of an ongoing nationwide brand building advertising campaign. If, for instance, you had a UPS Store most customers would already know what products and services you offer and how you can help them.
Less Risk, More Reward
Naturally, your own efforts and ability to manage your time and efficiency and follow through on ideas provided by a franchise will determine whether or not you are successful. However, the odds are stacked in your favor. You face less risk in changing your financial future than if you went back to school or started a business from scratch. You also stand a better chance of doing very well financially.