Taking the plunge to become a business owner can be both exhilarating and terrifying. And that's why candidates sometimes drag their feet. By putting off a decision, they feel more in control, but the truth is that procrastination seldom leads anywhere productive.

In this post, we'll look at 7 reasons people fail to finalize deals. And as you'll see, all of these reasons can be overcome. Let's get started.

1. Waiting for a better offer

Commitment can be scary, especially for those who are nervous about making the wrong decision. But if you're drawn to the idea of business ownership, take the plunge and make the most of the opportunity. Anyone susceptible to the-grass-is-always-greener syndrome knows that you can end up waiting forever if you're seeking a perfect situation.

2. Don't want to relocate

Location makes a big difference in quality of life, so it's an important consideration for any career. However, not wanting to relocate should not be a deterrent to becoming a business owner. Many franchises provide business owners the opportunity to operate in one region while residing in another. 

3. Worried about risk

A new business venture comes with a certain amount of inherent risk, but franchising provides support to buttress your efforts. With a proven concept and brand recognition in your back pocket, you can focus on the finer points of your operations without having to manage so much risk.

4. Lack of support

Another reason people drag their heels is a perceived lack of support. No one is good at every task involved in running a business. For instance, a prospective business owner may have a thriving network and excellent financial acumen but doesn't have much marketing experience. Fortunately, with a franchise like Tutor Doctor, there's always support to fill in the gaps - from the experts at Home Office, to our 300+ network of franchisees.

5. Fear of failure

Many people fear failure so dramatically that they view any missteps as tragedies. But the truth is that life (and business) is full of gaffes, bloopers, and false moves. Happily, most of these sidesteps are not only fixable, but they teach valuable lessons about how to move forward. Additionally, franchises are usually owned by established brands who have already tested and proven the business model in multiple markets. They mitigate a lot (but not all) of the risk in comparison to starting an independently owned business.

By helping people shrink their perceptions of failure, you can help them make commitments and see their learning experiences in a new light.

6. Information overload

Never before in the history of the world have people had so much information at their fingertips. From blogs and videos to podcasts and social media, there's more than enough advice about starting and running a business. 

A prospective business owner who's feeling overwhelmed should start simple and keep to the basics, while focusing on their ‘why’. Staying focused on the big picture in the beginning will help filter through the finer details moving forward.

7. Lack of confidence

This shouldn't be a secret, but sometimes it seems to be: people don't have to know everything in order to run a successful franchise. 

Potential franchise owners can gain confidence by speaking with other franchise owners, finding out what they need to learn, and hiring people who can make up for their deficiencies. By helping them to recognize their current skills and showing them how to manage what they currently lack, you can give them the confidence to move forward.

Closing the Deal

Starting a new business is exciting, but also challenging. There are numerous risks associated with starting your own business, but when you buy your own franchise, you will not have to face these challenges alone. A franchise system not only reduces risk by providing you with an established business model, but it also provides you with a support system. It helps to remember that buying a franchise means that you are buying into a reputable brand, where you’ll be equipped with all of the necessary training and tools you need to be successful. It’s up to you to bring that training to life.

At Tutor Doctor, we’ve worked meticulously to build a comprehensive onboarding process to help our franchisees prepare for business ownership and provide ongoing support after their launch. If a scalable business model, low overhead costs, and ability to work from home is something that interests you, contact us today to learn how you can open your own Tutor Doctor franchise.