Working to purchase a franchise opportunity is a valuable investment. But Entrepreneur magazine's Jeff Elgin says it can also be an opportunity to ditch the normal 9-to-5 workday in a poor job market.

Franchise ownership gives the small business owner a great deal of control about the business, and puts him or her in charge of telling others what work needs to be done. But, according to Elgin, the thought of being in charge is not comforting for some people, and some feel better taking their direction from others.

Elgin also says that while a franchise owner does not have the immediate income or wealth stability of someone working in a standard job, the payoffs can be much higher. A new franchise owner, he says, should have significant savings to pay expenses during the initial phase.

Hiring statistics show that the job market is not giving job seekers the kind of salaries they once enjoyed. Career consultants recently told MarketWatch that jobs that used to pay between $40,000 and $50,000 per year are now giving out salaries as low as $28,000, and positions that used to pay $100,000 are now being offered at $85,000 or $90,000.

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