Running a franchise or a small business is challenging, recession or no recession. It’s pointless trying to sugarcoat the difficulties that entrepreneurs are operating under these days. Most consumers are chiefly concerned with saving money and unless an entrepreneur can dream up a concept that facilitates that pragmatic goal, they will find it difficult to gain traction for their franchise traction.
Last week’s Wall Street Journal reported that many entrepreneurs are taking up part-time work on top of their existing business simply to make ends meet. The piece profiles a Chilean flower importer who is now working for a white-water rafting company, a CFO of a PR company who is doubling as a ranch caretaker, and a maker of preteen educational DVDs who is now moonlighting as an education consultant.
Bu the fact that many entrepreneurs are taking up second jobs is no reason to be depressed. There is a lot of work out there that is ideal for people looking to trying turn a spare 15-20 hours in the week into profit. Look at Franchise Direct’s home-based franchises or part-time franchises. These are ideal for the truly enterprising entrepreneur. With say, a vending opportunity, you can maintain your regular job and just attend to the machine when it requires. Use your home or garage for spare office space and let the business manage itself.
Sure, times are tight. But only by being brave and thinking cleverly will we be able to overcome this challenging time.