Alternative Paths to Start a Business
By: Mike Minitelli
When most people are ready to start a business, they often envision the traditional route: developing a unique idea, writing a business plan from scratch, securing funding, and building everything from the ground up. While this path works for many entrepreneurs, it’s far from the only way to achieve business ownership.
In my years with Benetrends, I’ve helped thousands of aspiring business owners navigate their entrepreneurial journey. What I’ve discovered is that some of the most successful business owners took routes that many people overlook or don’t fully understand. These alternative paths can often provide a more structured, less risky entry into business ownership, while still delivering the independence and financial rewards entrepreneurs seek.
Let me share some of these “unknown” ways to start a business that deserve more attention.
Franchise Ownership: Investing in a Proven System
Franchising represents one of the most underappreciated paths to business ownership. Many people mistakenly believe that purchasing a franchise means sacrificing independence or creativity. In reality, franchise ownership combines the benefits of an established brand and proven business model with the autonomy of running your own operation.
The franchise industry has changed dramatically over the past decade. Today, entrepreneurs can choose from thousands of concepts across virtually every industry imaginable—from fitness centers and educational services to home healthcare and business consulting. The initial investment can range from under $100,000 to several million, making franchise ownership accessible at various financial entry points.
What makes franchising particularly attractive is the comprehensive support system a franchise system offers. When you purchase a franchise, you’re not just buying a business—you’re gaining access to:
- Established brand recognition and marketing materials
- Proven operational systems and processes
- Initial and ongoing training programs
- A network of fellow franchisees facing similar challenges
- Corporate support teams for various aspects of the business
For first-time business owners, these resources can significantly reduce the learning curve and improve the odds of success. Rather than spending years developing and testing business models, franchise owners can focus immediately on execution and growth.
Acquiring an Existing Business: Building on Established Foundations
Another overlooked path to business ownership is purchasing an existing business. This approach offers distinct advantages that starting from scratch simply cannot match:
Immediate cash flow: Unlike startups that may take years to become profitable, established businesses typically generate revenue from day one. This cash flow can help cover operational costs and potentially provide income while you implement your growth strategies.
Existing customer base: An established business comes with existing customers, providing immediate opportunities for relationship building and growth. These customers can offer valuable insights about what’s working and where improvements are needed.
Trained workforce: Inheriting experienced employees eliminates the need to recruit, hire, and train an entire team. These team members already understand the business operations and can help facilitate a smooth transition.
Proven location and infrastructure: The business has already validated its location, established vendor relationships, and developed operational infrastructure. This reduces many of the uncertainties associated with new ventures.
Easier financing: Lenders often view business acquisitions more favorably than starting new, because they have historical financial data to evaluate. This can result in better financing terms and higher approval rates.
The key to success when acquiring a business is conducting thorough due diligence and having a clear vision for how your leadership and ideas can improve upon what already exists. Look for businesses with solid fundamentals, but room for growth through modernization, expansion, or operational improvements.
Creating a Business from Scratch—with the Right Support
Of course, many entrepreneurs still prefer to build something entirely new. If you have a unique concept or see an unmet need in the marketplace, starting from scratch may be your best option. However, this doesn’t mean you have to do everything alone.
The most successful entrepreneurs I’ve worked with recognize the importance of building a strong support network, particularly when it comes to funding. Securing appropriate financing is often the greatest hurdle for new business owners, yet many entrepreneurs limit themselves to traditional bank loans or personal savings.
At Benetrends, we’ve created innovative funding solutions that many entrepreneurs don’t realize are available to them. For example, our QuickStart Loan Program allows qualified individuals to secure funding quickly to launch your business concept. This approach provides access to necessary capital for those who are looking to deliver their products or services to the right audience ASAP.
Other overlooked funding options include:
- SBA loans with more favorable terms than conventional financing
- Rollover funding using your existing retirement fund
- Securities-backed lines of credit that leverage existing investment portfolios
- Equipment leasing programs that preserve working capital
- Strategic combinations of multiple funding sources to optimize both short-term and long-term needs
The right funding partner does more than just process a loan—they understand your business goals, evaluate different financing options, and help structure a solution tailored to your specific situation.
Finding Your Path to Business Ownership with Benetrends
For over 40 years, Benetrends has stood shoulder-to-shoulder with entrepreneurs at every stage of their business journey. We’ve supported visionaries with business concepts ranging from innovative restaurants and cutting-edge fitness centers to specialized professional services and revolutionary retail concepts. What sets us apart isn’t just our understanding of complex funding mechanisms—it’s our genuine devotion to transforming entrepreneurial dreams into thriving businesses.
Our funding experts become trusted advisors who understand the unique challenges each business model presents. When a franchise owner needs capital quickly to secure a prime location, when a business buyer requires a strategic combination of funding sources to complete an acquisition, or when an independent entrepreneur needs to preserve working capital during the critical startup phase—we’ve developed specialized funding solutions for each scenario. This comprehensive approach has made Benetrends the go-to resource for serious entrepreneurs who recognize that the right funding partner is as crucial to their success as their business concept itself.
Let’s Launch Your Next Business Together
Your entrepreneurial journey deserves personalized guidance from someone who understands both your vision and the complex funding solutions available to fit your goals. Fill out our form here to schedule a one-on-one discussion with me about your specific business goals and funding needs. During this complimentary session, we’ll explore which business ownership path aligns best with your experience and aspirations, identify potential funding solutions tailored to your situation, and address any questions or concerns you might have about the process. I look forward to meeting with you!