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Why you shouldn't start your own agency in 2024 (and what you can do instead)

10/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

It is always a risk to start your own agency. It is not only a financial investment, but also an investment in time and energy. If you don't have the necessary experience and skills, or if your budget is limited, it might be difficult to start a successful agency.

Instead, you might consider purchasing a franchise or taking over an existing agency. Both options have their advantages and disadvantages. A franchise can give you a proven business model and a strong brand, but it may also require a large investment. If you take over an existing agency, you already get a client base and some experience, but it can also be difficult to align the agency with your vision.

However, if you want to start your own agency, there are some steps you can take to increase your chances of success. First, you should learn about the business and create a good strategy. Then, you should familiarize yourself with the relevant laws and regulations. You should also familiarize yourself with marketing and advertising so that you can effectively promote your business and attract customers. Finally, you should network and exchange ideas with other entrepreneurs to benefit from their experiences.

Whether you start your own agency or take over an existing one, you will need to invest a lot of time, energy and commitment to succeed. Therefore, you should think carefully about whether starting your own agency is really right for you.

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