If you’re considering buying a franchise, one of the first things you think about is the industry that’s right for you to set up shop. There are many industries to choose from but for some people, the franchises in the accounting and financial industries may be best. Here are five reasons why.
1. It’s Economically Sound
The economy is cyclical. When things are good, they’re great for business owners. When things get bad, they get really bad causing many businesses to shutter their doors. That’s not the case with accounting and finance.
Regardless of the economic backdrop, the finance and accounting industries are able to hold strong because they’re so needed. Accountants are needed to continue to crunch numbers, even if businesses are operating in the red. Financial advisors are needed to help private citizens hold on to their limited cash flow and adjust their retirement savings plans. These industries aren’t as jolted by an economic downturn as many others.
2. It Requires Organization
The accounting and financial industries require that strict processes be followed so that mistakes aren’t made and compliance isn’t compromised. This requires a strict following to specific processes. For creative spirits who like to make their own rules, these industries might not sound like much fun. But, to a person who thrives in a setting where organization is the name of the game, accounting and finance have a lot to offer.
3. It Gives You Freedom
On the flipside of requiring organization is the ability to have some amount of freedom and flexibility. The franchise model makes it so that you have the framework for success, but being a franchise owner gives you the flexibility of owning your own business. You’ll get to set your hours and cater to your preferred style of work, which is a tremendous benefit to many people.
4. Many People Don’t Think in Numbers
Numbers are black and white, and yet many people think and act with their emotions. These types of people need an expert who lives, eats, and breathes numbers to pull them back in and show them the hard figures behind important decisions. Whether you open a franchise as an accountant for small businesses or a financial advisor for families saving for retirement, you’ll have customers who need your help simply because they don’t view the world numerically.
5. It’s Easy to Prove Your Worth
Even when you work with people who make decisions based on emotion, when it comes to spending money, these people also need to have the logical side of their brain appealed to as well. Because you’re a number cruncher, this logical appeal is easy to come by. You can show how your franchise’s services pay off in dollars and cents. Better yet, because you’re a franchise, you have the backing of other franchises who can prove that your model is a viable one.
Is This For You?
If these five reasons resonate with you, these are the industries that deserve your attention. Use this spark of interest as the catalyst to light your fire as a franchise owner of an accounting or financial business.
Susan Guillory is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.