The trend of outsourcing, downsizing and leaner big business is fueling a boom in small business and entrepreneurship. Many folks have been laid off, but there are also many leaving big business and starting their own thing.
Not everyone is cut out for running their own business, but with the vast training and small business resources available today, many more people are starting businesses. Many of these new entrepreneurs really have no other option but to start their own thing, however I am confident that many will be successful in large part because of the vast training, resources and small business opportunities available today.
A proven franchise model can help lower the risk, but these entrepreneurs still need to have a solid business plan and mentors. There are still circumstances that may come up that you did not anticipate, such as the amount of time it takes to secure real estate.
A good friend Jay Medley, who we will have on our radio show this Friday is opening several Newk’s Restaurants in Atlanta GA. Newk’s is a franchise that is growing fast in the Southeastern U.S., whose owners previously started McAllisters Deli and have a great track record of success. Newk’s is an express casual dining experience offering fresh tossed salads, sandwiches, pizzas, soups and cakes that are all made from scratch. I have eaten in several of their restaurants and can attest that they are fabulous, very affordable and the food quality is very high.
One of the key learnings we will discuss this Friday is the time it can take to secure your location. It has taken Jay nine months to secure a lease for his first site and he was planning for this to take two – four months. A key learning has been the highly competitive restaurant market for prime locations in Atlanta. Even during this economic recession, the prime locations are still very hard to get in a top restaurant market like Atlanta.
Jay has now secured a great spot and there is no doubt he will be very successful with Newk’s in Atlanta and we look forward to having Jay on the radio show this Friday.
There are thousands of people starting and buying small businesses every day. Small Business will be the engine that drives growth in this country and the world over the coming decades and entrepreneurs will create most of our jobs. Internet connectivity, applications and on-line resources will play a major role in small business growth and our Small Business Roundtable is a great resource to learn and substantially improve your probability of success.
The best way to learn is from the mistakes of others and Small Business Roundtable brings you the Top Entrepreneurs sharing their best ideas. Why do they do this? Entrepreneurs enjoy helping others succeed. We believe in the phrase Success breeds Success – if you surround yourself with other successful entrepreneurs then you are much more likely to reach your goals.
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John H. Martin