TEC Resource Center

  • About
    • Meet the Team
    • Testimonials
  • Blog
  • Contact
  • Home
  • Planning
  • Training
    • The Manager’s Toolbox
    • Custom Training
  • Support
  • Events
  • TEC Franchise Center

September 15, 2021 By Pat Meehan

Taking the first step toward business ownership

You have always wanted to own your own business but just have not been able to get past the first step of owning the dream.  The first step in the process is always the hardest be it starting a new business or starting a new fitness program.  Changing our lives even for the better, takes action, and action that brings about real change in our lives is hard.

In my experience from working with those that do take the plunge, there are three main reasons that prevent people from exploring what the possibility of business ownership might look like.

  1. Fear! Change is scary and it takes guts to step out of your comfort zone and say, I want to do something that others may think is risky or even stupid.  It is easier to keep the status quo then try at something new and fail!  What will other people think?  What if I succeed?  How will this impact my life as I know it today?  But what are the consequences of not trying to change your life?  Opportunities missed can be far more costly then failing at something you have always wanted to try.
  2. Financial Uncertainty! How much money do I need to start a business or buy a franchise? Do I need everything up front or can some be financed?  I can honestly tell you from experience that most people feel like they just don’t have enough money in the bank to start a business or buy a franchise.  When in reality, the money needed is far less than you might think.  Of course, you will need financing and the overall investment might seem scary at first.   However, if the business model is solid the income from the business should be able to pay down the debt and support you at the same time.
  3. Not believing people can help! If you have never started a business or investigated business opportunities or franchises available, it may seem like the process is just too much for you to handle.  When you start your research on-line you are inundated with sales calls and e-mails from people trying to sell you what they have to offer.  So, rather than reach out for help you try to go it alone and end up frustrated and overwhelmed.  There are people that can help if you let them, but you need to be able to tell the difference between those that want to help and those that want to sell you on their concept.  Rather than go it alone, search for some help from qualified and reviewed business brokers or consultants.  These are people that will help you to better understand yourself and what you want from a business as well as introduce you to quality, well vetted opportunities that fit both you and your budget. org is also an organization that can help.  This is a government funded mentoring program that will help you map out a plan and find the resources you need to make your business a reality.

Go ahead, take the first step, and connect with someone to help you explore what business ownership might mean for you.  The exploration of what might be possible is the action that is needed to find out if change is in your future and what not taking the next step might cost you in the long run.

Filed Under: Business Ownership, Franchising Tagged With: Action, Businessopportunity, Franchise, Franchise Opportunities

January 28, 2021 By Pat Meehan

Franchise Trends

While 2020 has been absolutely devastating for some franchise sectors, it is not all bad news.  As the world transforms itself in preparation for the post pandemic new normal many business sectors have seen significant growth.  Home Services, Elder Care and Cleaning Services have all seen significant growth in 2020 with excellent forecasts for 2021.

When looking for a franchise you should consider what the pandemic has done to change the way people look at life on a go forward basis.  A significant number of workers will never transition back to the corporate office, instead opting to maintain their virtual/ home office environments.  The elderly population has now become resistant to centers of care that put them at higher risk for the spread of infections in the future, again opting to receive care at home.

When looking for a business opportunity to take the place of your ex-corporate job, be sure to research these trends to ensure the franchise you select has a bright forecast for the future.  Ask the Franchisor the hard questions.

  • How was their business impacted by the pandemic?
  • What do future trends look like for the business, post pandemic?
  • What kind of support did they give their franchisees that were negatively impacted?
  • How many franchisees left the business in 2020 and why?

When you are considering buying a franchise you need to understand the stability and integrity of your potential franchisor partner.  Those franchises that are successful long term stand with their franchisees through the good times and the bad.

Filed Under: Franchising Tagged With: #Newopportunities, Businessopportunity, Franchise

Connect with TEC online!

  • LinkedIn
  • Twitter
  • YouTube

Recent Articles

  • Q4 Business Planning: Growth Strategies & SMART Goals for the New Year
  • Integrating Business and Personal Life
  • Your Business Exit Strategy – 5 Things to Consider
  • Empowering Growth Through Accountability
  • Part 11 – Performance Measurement

Search for Articles by Topic

Recent Articles

  • Q4 Business Planning: Growth Strategies & SMART Goals for the New Year
  • Integrating Business and Personal Life
  • Your Business Exit Strategy – 5 Things to Consider

Connect with TEC Online!

  • LinkedIn
  • Twitter
  • YouTube

Contact Us

TEC Resource Center
Massapequa, NY 11758
Contact TEC
Phone: 516-241-2063

Copyright © 2026 · TEC Resource Center · All Rights Reserved

Terms of Use | Privacy Policy | Disclaimer

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.