NEW YEAR? NEW START!
Ready for a change? Is it time to get into a business of your own? What do you need to do first?
The start of a new year is always a good time to examine your life and decide what direction you want to go in next. What’s really important to you, and how are you going to make your life better? That’s why people make New Year’s resolutions – but while going to the gym every day or giving up pies might only last a month or so, buying a business is a long-term decision that will change your life.
Having just been named the Supreme Franchisees of the Year for 2017 in the Westpac New Zealand Franchise Awards, Judi and Earl McWhirter have achieved a level of success they never expected. As our cover story explains, they started their new business at an age when many might be considering retirement, proving that there’s no right time to start – only the right time for you.
So if you’re frustrated with your current job, looking to improve your net worth or feel that there might be more to life, buying a franchise can provide excitement, adventure, opportunity and financial security. It can give you less time on the road, more time with your loved ones, more flexibility over where and when you work, more control over your life. It will probably also give you greater challenges than you’ve ever faced before and involve a lot of hard work. If you’re prepared for that, now could be a good time to consider making a new future.
Apart from being the start of a new year, there are several reasons to consider a business of your own right now:
- Financing costs are near record low levels. If you need to borrow money to get started, it’s more affordable than ever. While interest rates may rise a little, they are still expected to stay low for some time, allowing you to get your new business established.
- Rising property values, especially in Auckland, have increased the equity that many people have in their houses. That makes it easier to raise the necessary finance or, if you want to move out of the city, may mean you can release some capital to help fund the business and reduce borrowings. The fact that property prices have stopped rising so fast could also make a business a more attractive investment.
- There are currently more opportunities than franchise buyers, especially with immigration slowing down. Immigrants are more likely to look for established businesses than start new ones. It means franchisees prepared to...
This article appears in full in the latest issue of Franchise New Zealand magazine (Year 26 Issue 4). Read the entire article in the digital magazine or, if you live in New Zealand please send for your free print copy.
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