My mother is retiring in a few months, and she has expressed her interest in venturing into a business with me. There are two choices I am considering to venture out into a full time business. As of now my online chocolates and baking business is a part time only, I only bake when there is an order and it follows that I earn only when I have orders. But if I make it as a fulltime business and put a physical store then maybe I can have a regular income from that biz. My problem is there are too many risks involved especially monetary risk and my brand is not that known.
Another option it to have a franchise business, the brand is there and the business is already working. But my problem with franchising is there are so many available now that it’s really hard to choose what will work for you.
I am also considering getting a franchise like a food cart business and then sell my products along with it. I don’t know if that is allowed but at least it’s an idea. I am also surfing the net for franchising options they have abroad like the Singapore Franchise Opportunity and compare them with local franchises.
So from here till the time my mother retires I just have to really study all my options and consult with her what will work for both of us.