One of the best ways to set yourself up for retirement is to invest. You might be in your twenties and cannot even comprehend the idea of retirement yet. Or, you might be in your late 50’s and regretting you did not start thinking about retirement sooner. But, we have some good news for you. It is never too early or too late to start thinking about retirement. And whether you are looking to get a head start on your savings or scrambling to just add as much to it as possible, investing is an option you should consider. You invest in your 401K, you invest in your house, you invest in the stock market, so why not invest in a business venture that could bring you great wealth?
Investing is a great option because it can provide you with a source of residual income. Residual income is defined as income that is received only after performing one-time work or even just performing a little bit of work occasionally. So basically, it is almost like getting paid to do virtually nothing. Does that sound like something you would be interested in? It is likely that you are nodding your head “yes” at this point. However, who in the world would keep cutting you a check for doing virtually nothing? It sounds unlikely, right? Keep reading.
While your 9:00 to 5:00 boss might not be on board to cut you a check while you go home for the day, a franchise is an opportunity where this is a possibility. Investing in franchising is quite similar to investing in real estate. You invest in something that already exists – for real estate it is a property and for franchising it is an established business. You do a little work to get that location to where it needs to be such as opening the store, hiring the team, and training. Then, you sit back and monitor as others run the business. But all the while, you are still getting a paycheck because you do own that franchise.
But if you can achieve this residual income with other things such as real estate, why choose franchising? Franchising is a turn-key business. Many people would love the opportunity to invest in a business, but they just don’t have a business idea or the capital to start one. However, a franchise is an opportunity to get involved in an already proven business model. Take Chick-Fil-A, for example – prior to investing in a Chick-Fil-A franchise, you can already see just how they successful they are just by passing by one. And you have the opportunity to get involved in a successful business like this without contributing to the actual birthing of the business idea itself.
Additionally, owning a franchise comes with several different avenues of assistance at your disposal. Not only are you purchasing the business, but you are also purchasing marketing assistance, training assistance and more.
Where to Start
The first thing to consider is the type of franchise you want to be a part of. While you might be mostly hands-off with the business, it should still be something you are interested in considering you will have to put in some work upfront and might have to later, when necessary.
But aside from just being interested in what you are about to invest in, you should also know just what it is you are getting into. Research should always be a key foundational point in any financial decision you make – especially when it involves making a large investment. Unfortunately, not all franchises are a great opportunity, and others just might not be the best opportunity for you. For this reason, begin your journey with exploring the different franchise options.
While you might not be writing the business plan, you still need to consider the factors that will determine your success – such as if that specific franchise would be a good fit for your area.
The next step would be to reach out to the appropriate contact and start applying. They can also answer additional questions you might have, direct you toward financing options, and more. The actual money aspect of franchise investing is a major factor, but thankfully companies like Triton can assist you in the financial aspect of the process.
Overall, purchasing a franchise is a great way to build residual income and become a business owner without as many hassles and obstacles as starting a new business. Investing in a franchise is investing in your future. Investing in a franchise is investing in your retirement.
To learn more about how franchise investing can benefit you, visit tritoninvestors.com to schedule your Free, No Obligation Consultation today!
La Mancha Sims is Managing Director and Founding Partner of Triton Business Group, Inc., a business funding consulting and investing firm located in Decatur, Georgia. La Mancha is a former Naval Officer who has over fifteen years of experience in franchise and commercial finance, specializing in assisting entrepreneurs who want to enter the franchise industry as owners or investors. You can reach La Mancha at 866-987-4866.
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