Is now a good time to start a business?
I watched some of Trump's State of the Union address and whether you like the guy or not, you must admit he has accomplished more than most people thought he would. With tax cuts to businesses and GDP growth and most economic indicators looking up-the question of should you start your own business is definitely something that I get asked. The truth is, that is a personal question and one that I can not answer for anyone. It is hard work, and it is not for everyone, but speaking from experience I can say there is a lot of growth and joy in being your own boss. Though I can not make that decision for anyone, I can share what I see in the business world and that may be good data for those to make a decision.
I closed 3 Franchise Start-up loans just last week. That will be 3 businesses opening that did not exist before, hiring people and providing service. The franchise market has been HOT for over a year now with no shortage of people looking to buy a franchise. Financing is READILY available for franchise start up ventures. If you are looking to go into your own business, a franchise can provide a lot of help. It is kind of like starting a 100 yard dash at the 30 yard line, your chances of winning go way up. The extreme strength of the franchise market would lead me to think that now is a GOOD time to start your own business.
I talk to hundreds of business owners and generally speaking, sales are UP. Not everyone is getting rich, but by and large most small business owners I talk to are doing much better than a year ago in terms of sales especially. This would lead me to think that the market is RIPE for you to jump into your own business if that is something you want to do.
With GDP growth and tax benefits coming into play, it may very well be a great time to get into your own business.
P.S. DID YOU KNOW? That over 90% of the loans I get have been denied somewhere else? Did you also know, that in ALMOST EVERY CASE, I am able to get them a rate similar to the one they were quoted at the bank that denied them? IT NEVER HURTS to give me a call and run your deal by me. I can review and underwrite your deal and get you approval in writing often in 48 hours and with NO COST TO YOU! What do you have to lose? Call me today at 512-650-8630. Talk to you soon!