Why You Should Consider Starting Your Own Business in 2022
“Wherever there is change and wherever there is uncertainty, there is opportunity” —Mark Cuban
The last year and a half have brought change and uncertainty to our communities. As a result, people today are looking outside of traditional job roles for security, freedom, and flexibility. Many have risen above the uncertainty of 2020, and the changes in 2021 to pivot to the opportunity of business ownership. As things begin to normalize after the pandemic, more people will be looking for new ways to control their income and develop a work-life balance.
A change in the way Americans view the job market has motivated many to explore business ownership as an alternative to returning to the workforce. Allowing them to control their income and recreate a positive ideal work environment for themself and others. This shift has contributed to a historic record of 1.4 million business application filings by the 3rd quarter of 2021, the most so far in any year. Among this growth, franchise establishments are projected to have increased by 3.5% with continued expansion over the next few years.
Choosing the Right Industry and Business for You
Owning a business is more than what happens on Opening Day. Deciding on what business to open takes careful planning and consideration to ensure the industry and type of business you’ve chosen is profitable and the right fit for you. According to The Small Business Association (SBA), the survival rate for new businesses is 50%. However, the success rate of franchises surpasses independent businesses significantly. Demonstrating the structure, support, proven systems, and flexibility of franchising as an ideal foundation for business ownership. Franchising is a great option for business owners who want to take advantage of working for themselves but not by themselves. Franchises offer proven systems, marketing strategies, technology, and business plans that assist the serious business owner to open with more support and ease than an independent start-up.
There are several things to consider when choosing a business based on your personality.
What are you passionate about?
Owning a business comes with challenges. We naturally work harder and persevere through setbacks if it involves something we are passionate about doing. Are you passionate about making a difference in your community? Do you love coaching youth sports and helping young people grow into tomorrow’s leaders? At College HUNKS, we are very passionate about making a difference! In fact, our mission is to move the world literally and way beyond that. We strive to make an impact each day. We want to help each team member become a better version of themselves and teach them leadership and business skills that will help them find success no matter where life takes them. Our charitable partnerships also allow us to give back and help others in their time of need. For every completed job, two meals are donated to hungry children through U.S. Hunger. We work with organizations like Goodwill Industries, PickUpMyDonation.com, and Habitat for Humanity ReStore to recycle and repurpose donated items that some may not have a use for anymore but that could help someone else in need. Our Domestic Violence Program helps victims of domestic violence move by providing discounted services through coordination with local shelters around the country. If you’re passionate about making a difference and leaving a legacy of leadership, a College HUNKS franchise will give you that opportunity.
What experience do you have or what are you knowledgeable about?
Take account of previous job positions, professional training, and life experiences you have had to determine if you possess the skill set needed for the industry you are exploring.
What type of life do you want to lead?
Do you prefer solitary or public involvement? Ask yourself what type of environment you wish to work in. If you prefer to own a business with little customer contact you’ll want to avoid a retail storefront where customer contact is high. If you are an extrovert and want to be a large part of the community, you may want to avoid a business where access to people is limited.
Your level of commitment
Commitment level determines your motivation and ability to see things through. How willing are you to improve your skillset in an area that would help increase your business? Are you able and willing to work long days, if necessary? How willing are you to adapt to changes in the market? If you have employees, how committed are you to ensuring they have a work environment conducive to the success and growth of themselves individually and in relation to your business?
Sustainable Growth vs. Trends
How will the industry evolve? Assess the longevity of the industry you are exploring. What are the current and projected trends? Is the industry you’re exploring based on current markets and innovations or is there stability and long-term need for the product or service you are providing?
All of these questions are a starting point in determining what industry and business are right for you. It’s also important to learn what skills you need to run a successful franchise.
Why You Should Consider College HUNKS as a Franchise Business
The moving and junk hauling industry generates $10 billion annually. As the number of remote employees grows and companies open up to nationwide employment and remote work, more families are moving to areas based on affordable living and quality of life versus job proximity. The moving and junk removal industry will remain in constant demand with no sign of decreasing. In 2020, College HUNKS franchise business owners saw a 39% increase in net income revenue year over year proving the recession- and pandemic-resistant industry has tremendous stability and growth potential. Owning a College HUNKS franchise includes an award-winning marketing team, brand recognition, and a proven business system with technological advancements to help franchisees succeed. There is more to College HUNKS than owning a junk hauling and moving company, it’s part of a community. Many of our franchise owners contribute to the ongoing development of their communities by giving back.
If you’ve been thinking about operating your own business, 2022 is the time to start a business or pivot into a new career through franchising. Contact College HUNKS for a step-by-step guide on how to get started toward business ownership.