Looking at the Ikor franchise? Before you take the leap, you may want to carefully read this…
So what is it about the Ikor franchise that’s got you interested to learn more about it?
Perhaps you’re just eager to make money in your very own business…
Maybe you like the idea of calling “all the shots” – and not taking orders from a boss…
Then again, maybe you’re only interested in making a significant life-style changing income and you feel the Ikor franchise is the way to do it.
Whatever the reasons you have for looking at the Ikor franchise, you are indeed serious about starting your own business.
If you’re not familiar with Ikor, here’s a short video about what essentially it is…
But, before you sign up – read this…
The Ikor Franchise – What You Need to Know
If you’re not familiar with Ikor, this franchise serves the senior, disabled adult and children industries. Although Ikor does not provide direct care, it does provide services to these types of clients including overseeing clients medical care, advocacy, care planning, and financial management.
And as you can imagine, with these types of services comes great risks. You’ll want to make sure you read up on all the different types of insurance you must have in your state before taking on an Ikor franchise or any other home care franchise opportunities.
Don’t make the mistake of not doing this upfront before buying this kind of franchise. The impulsive thing to do is just jump in blindly into the Ikor opportunity without doing your due diligence first.
You must know not only what it costs to get an Ikor franchise started, but what it will cost you to maintain it month after month.
First of all, the cash required is around $45,000 with a total investment range in the neighborhood of $56,000 – $88,000
This is quite a sum of money. Remember, you still have to factor in advertising and hiring employees and insuring them. Depending upon where you live, this could raise your investment costs by quite a bit.
You MUST have enough money set aside to keep your business running. Most businesses of this type take several months to a few years to turn a true profit. Do you have the funds to keep going in an Ikor franchise after you’ve invested over $45k?
Remember most franchises have royalty fees that you must pay even if you’re not making a profit. Are you going to be able to keep paying these fees long-term? And will you want to even if you’re not making any money?
There’s a lot to think about before buying into a franchise.
Are still seriously considering an Ikor franchise? If not, you may be interested in some franchise alternatives.
The Ikor Franchise Alternatives
There are a lot of franchise alternatives – including many businesses you can start from your home. Once considered a top way to start in business, franchises have dropped in popularity due to the increase of people starting online home based businesses.
In fact, as you keep reading this article, the more you feel that franchises may not be the way to go in this economy.
Before we get into franchise alternatives, let’s talk about why so many businesses fail…
High Business Failure Rate
One of the reasons most people fail in businesses is due to the lack of cash-flow.
Because the turn-around time to making a profit is long, some people don’t factor this into their business plan and therefore, sometimes there isn’t enough cash-flow available to sustain a business long-term until real profits are made.
When you have a franchise or any kind of brick n’ mortar business you have to worry about…
- Paying employees
- Paying rent
- Paying insurance
- Paying for equipment
- Employer regulations you must abide by
- Lawsuits from employees
- Paying for utilities
- Employees stealing from you/and or clients
- Being sued by your clients and/or families on the misdeeds of your employees
As you can see just from this short list (it would take forever to list every single thing you need to be concerned with), most of your money will be covering these overhead costs – and then some.
This is where a lot of people get into trouble…
They neglect the true costs of running an Ikor franchise (or any other kind of franchise).
What if you could eliminate just half of these costs – do you think you could see a faster turnaround in profit?
Well of course.
But what if you could eliminate nearly 95% or better of these costs – do you see yourself being able to put money back into your checking account much quicker so that you could even begin paying off your bills or even taking a much needed vacation?
If you choose a franchise don’t count on being able to pay off debt or have any spending money to take that much needed vacation. It’s just not likely to happen. Are you ok with that?
The Internet Creates Faster Incomes
Now, let me ask you a personal question…
If I could let you in on a little secret as to how a lot of Internet marketers are making bigger and faster profits…would you believe me?
It’s shockingly simple…
It’s relatively cheap to start an online business.
The low costs to get started, the low (if any) overhead costs, and the fast turn-around of cash all contribute to you making significant money without all the negatives associated with an Ikor franchise.
Having this kind of business is virtually a no-brainer if you’re serious about having a successful profitable business right now, not several years from now.
Your partner in success,
P.S. Click here if you want to learn ways to build an Internet based business.