To be a Start Up entrepreneur seems to be a trend nowadays especially with many aspiring young entrepreneurs. With the success stories of Mark Zuckerberg of Facebook or the recently successful, Groupon, it is no wonder that the obvious choice for all entrepreneurs would be to found multi-billion dollar enterprise from ground up. However, we cannot rule out how franchises like McDonalds, Subway or even Asian brands like Cha-Time (Taiwan Bubble tea franchise) and Old Town Kopitiam (Malaysian Ipoh coffee) have managed to spur another round of success across Asia through franchises.
As i was walking around in Digital Mall Penang in KOMTAR, i cannot help myself but listen to the conversations of the shoppers there, who were mostly teenagers, just fresh into college, living the dream of becoming the next Mark Zuckerberg or Steve Jobs, after just coming out from a lecture about the stories of those two technology entrepreneurs. The irony was, they were dining in McDonalds, another globally successful franchise where it too was started by an entrepreneur, named Ray Kroc decades ago.
In my mind, starting up a technology venture here in Asia has its perks – It is in the trend and you, as the entrepreneur may be viewed as ‘Sophisticated’ ‘Modern’ and ‘Catchy’ too. And also, with the seemingly new grants, business plan competitions and venture capitalists in this region who would prefer to invest in start ups like these, it is no wonder that the word ‘Start Up’ alone catches the imagination of aspiring entrepreneurs. However, just how much is the value of your start up?
Entrepreneur.com did this amazing story on start up valuation in which we recommend that you read, to see if your dreams of your start up saving the world and fetching that huge amount of rewards for you, is indeed justifiable and profitable? Have a look here.
Now, for Franchise business or Franchise entrepreneurs, people can argue that it requires a high start up capital and it is not really your idea to begin with. However, history has shown that through successful franchises, you receive training, location, the work processes and even now the products and services, prepared all for you. All you need to do is to run the business. Again, in my own opinion, coming from a more conservative culture in Asia, where the veteran venture capitalists or investors would most likely invest in ventures which have proven its concept, Franchise business nails the dot.
Also, imagine not having to write the employees manual all by yourself and instead of repeating successes vs failures in the inevitable round of starting up a new business, franchises would have learnt from their mistakes very earlier on, and would educate you to avoid them, hence minimizing losses and maximizing profits!
Well, so what is a successful franchise in which you can adopt today? Fancy for being the next McDonalds?
Check out this List of 500 Top Franchises in the USA. Why the USA? Looking at trends, the earliest successful franchises like Starbucks, Coffee Bean and McDonalds somewhat became huge in the USA before making its way to Asia, perhaps this is a great indicator for what is yet to come for Asia.
For those of you who are thinking that you need to have a few million dollars kept away in the banks first to launch your franchise, well, we have a direct link to a List of Low Cost Globally Successful Franchise here as well.
Finding the right business that works for you can determine your success or failure. I know that start up entrepreneurs have their own lifestyle to pursue, and so as, as franchise entrepreneur. So make your choice. The opportunities are available here today, especially when you can access these information for Free!
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- Powerful Tips that all Young Entrepreneurs should Know before They Startup
- Which Type of Entrepreneur or Startup Founder are You?
- 3 Success Strategies of Sir Richard Branson
- Richest People in Asia as Entrepreneurs
- Famous Films Wisdom to Inspire Successful Entrepreneurs