When I set out in Network Marketing a year ago, nothing about becoming an entrepreneur felt normal, on top of that I knew nothing about starting a franchised business. However, I knew something had to change, so I began to educate myself about business and marketing. What I’ve learned has amazed me.
There are 225 million people in this country over the age of 18 and many are struggling with unemployment, with job instability, with debt, and they are looking for solutions – just like I was.
In today’s economy it’s more important than ever to carefully allocate our time and money. When I looked at the options available here’s one question I asked myself… Is just applying for another job a great option?
What about further education? The tuition alone for undergrad is $20k to $35k per year and an MBA averages at $80k for two years.
Is a Franchise Business A Good Option?
- What business do I want to open?
- How much will it cost to open that business?
- What will the monthly overhead cost of that business be?
- How many hours per month will I have to spend building that business?
- How long will it take to make a proﬁt in that business?
- Whatʼs my upside potential?
What are the costs of opening a Subway, McDonalds, or Dunkin’ Donuts?
- Subway: Initial Franchise Fee is $15k
Total Initial Investment is $160k
8% Royalty per Year on Gross Volume
- McDonald’s: $250k Cash on Hand to Apply
Total Initial Investment $665k to $1.2 Million
12.5% Royalty Fee per Year
- Dunkinʼ Donuts: $60k Start-up Cost
Net Worth Requirement is $1.5 Million
Cash Liquidity Requirement $750k
And the days of an average person like me going to the bank and… “Iʼve got a great idea! Will you loan me money to start my business…” those days are about gone. Today, you need to be self-funded.
Why? Because itʼs critical in todayʼs economic climate to keep your investments low, overhead low, risk low.
What’s the solution opposite of traditional business or a franchise? Network Marketing is actually a viable solution. There, I said it!
Network Marketing, most importantly, offers the most up-side potential with the least amount of risk.
So how much does it cost to invest in your own Network Marketing business? Most Network Marketing businesses cost less than $500 and are a one-time investment. Thatʼs less than a Starbucks coffee per day.. That’s all a person needs to invest in and allocate in themselves.
Most of you are looking to make a little extra money per month, and that’s great, just don’t underestimate what Network Marketing and a professional business plan can do for you.
How Do You Develop A Network Marketing Business Plan?
1. Choose your MLM company, don’t let the company choose you.
2. Research the products or service (sample, sample, sample).
3. Know your budget and goals (marketing isn’t free).
4. Your success will depend on your ability to effectively market yourself as a leader, your knowledge of personal branding, and lead generation.
If You Are Interested In Generating Hundreds of FREE LEADS Every Day Let me know! I’m not the wizard of Oz sitting behind some magic curtain. I’m a real dude.
Editor, Your Mastery Coach
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