Saturday, June 14, 2008

Shall we take the risk?

Planning to setup own business since last year, survey and perform some research to decide what kind of business are the best choice for us: bakery or education? We've engaged few franchisors since last year to understand the business plan and opportunities. Thursday I called up the franchisor for 2nd time, wish to understand further details on the business plan and how could we kick off the startup plan, probably we plan for 6 months to get the business started. Well, unexpected - the franchisor told us that they will move their existing business center, together with their learning center (which is operating directly by the corporate) from KB to Penang by Aug 3. And the franchisor seems to give us chance to take over their learning center via the franchising program. The total startup cost is about 65K...we have to make decision by next Wednesday whether to accept the offer. However we feel it is too rush for us and also lack of confidence, mentally is not ready to get all this done within 2 months. But this is a great opportunity, as we can save a lot of startup cost since the franchisor will supply us the existing furnitures, aircons with FOC.. which they move it from KB learning center. The shoplot in Penang has been chosen and surveyed by the franchisor, everything are ready.. the only thing is try to open our mind and accept the offer..! We are quite worried now - "Are we ready to face the challenges? Are we able to handle our own business? We have enough working capital? Can I support our monthly expenses with I alone continue working and let my wife tender her resignation? Any finanicial issue when business still in early stage?" So many doubts and concerns. Mmmmm.. a lot of worries and stress have to face now, but if we really able to cope with it, I believe we can make it. Well, if we dont accept this offer, we may regret in the near future. Perhaps we have to be brave, and step out our very 1st step. God bless us!

6 comments:

Hong CN said...

KM, once you had made decision, there is no turning back. Move forward and never look back. Good luck to you and I wish to see you success! :-)

KM's Corner 刻骨铭心 said...

Yes, we've decided to face the challeges and I hope we will able to cope the stress and success in our business career. Thanks CN for the support and comments.

Lily said...

There are many challenges ahead. No doubt you are considering all the possible consequences. On the other hand, try to balance with positive outcome like what if you going to open second shop in the future, you re-pay your housing loan in 3 years instead of 30years, you are not worried abt petrol price hike :) I believe you and your wife can do it.
All the best to both of you! Let me know where is the shop so that I can visit you when I go back.

KM's Corner 刻骨铭心 said...

Lily, thanks for your support and positive comments. Yes, perhaps we will gain a lot of experience where we can't find in a corporate company. I will let you know once everything is finalized.

MY Life Zone said...

Everything got risk, i think if you reject this offer, you will regret... just plan ahead and go step by step.. i believe the franchise side will assist you if you face any problems as they also dont want their business failed.

SanctuaryDeScorpio said...

Trust on your decision and trust on yourself...