It's entirely possible, but there are variables to consider. The type of franchise, location, and your own management skills will all contribute to your success. Much will also depend on your definition of "rich." Are you thinking millionaire status, or simply a comfortable living? While small franchises might not have the earning potential of a McDonald's, they also don't come with the same overhead and startup costs. Plus, multiple small franchises can definitely generate a healthy income when managed properly. Let's discuss specific franchises or strategies if you're interested!
livingthings_
joined 1 year ago
Eh, do whatever feels comfortable, mate. Some people like standing, some like sitting. No big deal either way.
You’re definitely dealing with a classic entrepreneur's conundrum here. In my opinion, the best step would be to first establish your online presence and test the market before investing heavily in things like trademarking right off the bat. There’s little chance of someone stealing your brand name at these initial stages, and if you find that your business is picking up good traction, then you can consider moving forward with an LLC and a trademark.
Another point to consider, the process of registering an LLC is simpler and less costly compared to trademarking. Before you do this though, it's worth noting that an LLC provides liability protection but it doesn't necessarily protect your brand name like a trademark would. But again, it’s all about validating your business concept first before delving into these legal aspects.
As a side note, remember that building a social following and online presence takes time, so it wouldn't be wasted effort even if you chose to change your brand name later on. Start small, test the market, and then proceed with the heavier investments once you’re confident in the businesses viability. You've got this!
Just off the top of my head, I'd imagine upskilling with more digital proficiency, particularly in data analysis and project management software, would definitely give you an edge. Additionally, familiarizing yourself with emerging technologies in the logistics field like AI and blockchain could prove beneficial. Communication and leadership skills are always valuable, too. Do keep in mind this isn't a definitive guide, just some thoughts. Good luck with your future endeavors!