Business Building Corner

Many people want to become their own bosses. They want to feel “free” and do whatever they choose. Starting your own business seems like an ideal way to achieve these goals, but it is important to weigh all of the options. One business opportunity is to buy into a franchise and become the owner who is also the boss. Another way is to become an Independent Business Owner with a network marketing company.

Franchises are more manageable for people who are not too familiar with starting a business from scratch. And for those who want more freedom in their lives, network marketing is a great way to create a home-based business while making a difference for others.

Pros and cons of franchising
To be a franchisee, you need the start-up capital up front. You will need to pay an attorney to counsel you. In addition, there is the licensing fee, franchise fee, monthly space rental, equipment costs and depending on the franchise, inventory costs. These franchise start-up costs easily run up into six figures, not to mention the cost of hiring personnel.

When start-up costs are not prohibitive, franchisees benefit from the right to use a trade name that is already well established in the eyes of consumers. Customers are familiar with the business and accept the products or services of the franchise. You do not have to spend the time and money marketing your brand, so the possibility of making a profit is high.

Most franchisors offer special training to help new franchisees succeed in the business, and there generally is ample corporate support for all types of problems.

The franchisor will also manage national advertising for the franchisee, so local ads are the scaled down expenses. A franchise will come with an established system for ordering supplies and bulk discounts. If you ever decide that you want to sell the franchise, the franchisor can help you find a buyer. This business opportunity is a good stepping stone for entrepreneurs who are not completely familiar with the duties of management and do not feel the need to be in complete control of their business— franchisor dictates the rules and regulations of conducting business.

Benefits of network marketing
If you know that you would rather have complete freedom to operate your business as you see fit, then a network marketing company may be a better match for you than starting a franchise. You may also choose network marketing if you want to feel like a member of a team and have great flexibility to expand your business over your own timeframe.

If you don't have at least $100,000 to start your business, then network marketing is probably the best business option for you. Most network marketing distributorships cost less than $1,000 to start, so you can stretch your start-up budget much further with this option. With LifePharm Global, you can sign up for as little as $29.95 – an incredibly low cost to start a business. It’s only $20 a year to maintain your distributorship and receive all the benefits that come along with it. Click here (link to value build flyer) to see what you receive as an LPGN IBO.

If you have a full-time job and need to get your new business off the ground before you quit that job, network marketing offers the flexibility you need to balance this new business with your current job. There is much less risk involved if you can keep that job while taking your new business to a profitable level. If you work hard at network marketing, the day will come when you can quit your day job and enjoy the rewards of self-sufficiency.

Network marketing allows you to create a home-based business with several perks:

• When you work from home, you can let go of the nine-to-five work routine and conduct business on your own schedule. You decide when to work and when to take time off.
• Home-based businesses allow you to spend more time with your spouse and children.
• When you choose the lifestyle of working from home, you will be surprised at how much extra time you have every day to do the things you choose to do.
• The network marketing business opportunity comes with cheaper start-up and ongoing costs. You are the only employee, so you do not have to worry about payroll or settling internal disputes. You will not need to be an accounting genius because there are no accounts payable or receivable.
• With a home-based business, there is no inventory to manage, so no time or money will be wasted on sourcing products and organizing storage space.
• You make all of the decisions and work whenever you want to. Within one to three years of starting a network marketing business, people generally establish a solid stream of residual income. That amount of money allows you to afford dream vacations and other lifestyle desires, and you have the freedom of time to take your family to any destination.
• Network marketing allows you to choose the people you want to work with.
• This business opportunity does not require you to have any sales abilities, and the large market of consumers already exists.
• You will be helping other people change their lives while you achieve your dreams by working from home.
• Network marketing requires every Independent Business Owner to sell the same products, but they are encouraged to do so in their own creative ways.
• You can operate your network business entirely online. You can get your business started faster this way since you do not need to set up a brick and mortar storefront.

What are you waiting for? You are already part of the LifePharm Global Family and enjoying the amazing products. Sharing it with others will create an income stream and before you know it, you will truly be an Independent Business Owner!