Franchise Service

Now, more than ever, many people are dreaming about what it would be like to be their own boss. Some people have started home businesses while others have looked into starting a franchise.

One of the more popular franchise start-ups recently have been with liberty tax service. This is a franchise that is based with a Fortune 500 company and many people who start a Liberty franchise have had a lot of success with their new company.

It is important to understand, however that starting a liberty tax service franchise is not going to be a simple as picking up the phone and making a phone call. You are going to need capital to start a company and you are going to need more than a couple thousand dollars.

However, the benefit of starting a franchise with Liberty is that you are only going to need 70k rather than the 100 or more thousand dollars you might need with other companies.

Before you decide to start a franchise with Liberty there are some things that you need to consider, beyond the fact that you are going to need money to start. One of those things is finding a location.

Location is very important for any business and a liberty tax service is no different. Like most companies you will have to adhere to Liberty's rules and regulations about where you can build, whether you can purchase space in a mall, alone, a strip mall, etc. While you will be your own boss, as a franchise you will have to keep to the rule book on a lot of things.

Another thing to consider is hiring employees. There are a lot of tax laws that you have to know about employees, you have to run background checks, you are going to have to offer them a reasonable amount of pay and always have the money to pay them.

While your liberty tax service will likely be very successful, you are going to have to start building your own client base and while you do that you will still have to find a way to pay your employees.

It isn't only your employees that you have to think about paying as well. Outside of your initial investment you are going to have to pay mortgage or rent on your space, pay all of your bills such as phone, electric, Internet, etc.

Making sure that you have the additional funding to support yourself and your new liberty tax service business is an important part of running a business and being your own boss.

Stating a new business and being your own boss is wonderful, just don't forget that you have a responsibility, not only to yourself, but to the other people who have committed to your business and to the ongoing bills (and other situations) that are part and parcel to running a business of any kind.

Another option to consider while you explore brick-and-mortar franchises is the increasingly popular 'online franchises'.

Jenn Lawlor is owner of her own 'online franchise' with: LifePath Unlimited

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