Summit Franchise Consulting, LLC is a franchise consulting company with a proven process that will save you time, help you avoid frustration, and drastically streamline your consideration of business ownership and franchise opportunities in particular. Most everyone probably thinks being your own boss is appealing, but there is so much more to analyze and consider when thinking about opening your own business.
We will help you consider the various issues and will serve as your advisor and advocate to see if you qualify. However, we are very financially oriented and one of the basic reasons we believe people should consider it is financial planning, especially retirement planning.
Some of the primary reasons a person should at least consider owning a business is income diversification and serving as a hedge against the stock market. Most mid-career employees have begun saving what they can monthly in a qualified retirement plan and probably earn somewhere in the range of 6% annual returns. Not bad. But if your projected cost of living is in the 75,000 a year range for example, for most people these accumulated retirement savings won’t last you long! Especially when you consider our aging population which extends retirement and puts more pressure on our Social Security system. And finally when you consider most employees will have some breaks in service due to business cycles, getting off the 6% investment return treadmill is certainly something one should consider.