With the most recent survey results from ‘Investors in People’ showing people at work are 10 per cent more unhappy in their jobs since the previous survey in 2015
With the most recent survey results from ‘Investors in People’ showing people at work are 10 per cent more unhappy in their jobs since the previous survey in 20151, it’s clear that franchising and all the benefits that come with it could be the answer to many people’s problems. However, there is a common belief that becoming a franchisee is basically just paying for a job. This is far from true.
Franchising gives people the chance to own a business in which they are invested and passionate, rather than working for someone else and not yielding the rewards for all their hard work. Alistair Glaze, Chairman of Business Partnership, shares his advice on why franchising isn’t simply buying a job and how it can benefit people looking to change careers.
You can expand your franchise
Becoming a franchisee gives you the option of owning multiple-units and allowing you to scale up your business and, importantly, your income. Franchisees can own more than one franchise outlet if successful. However, when you’re an employee, the harsh reality is, your wage is all you get, no matter how skilled or experienced you are. So, even once you’ve mastered your job and you wish to create more income for yourself, all you can do is ask for a raise or take a job elsewhere that might pay a bit better. However, getting either of these things is far easier said than done.
Picture it: your franchise business is thriving. You’ve fulfilled your dream of owning a successful business and you’re proud to be making a difference in your local community. Now, you’re ready to take the next step and scale up your business and your income. This is something you can’t do as an employee. As a franchisee, you can. Most franchisors encourage multi-unit ownership, because if you can master the operations of one location, it’s likely you will replicate this success again and in a new location.
Be your own boss
When investing in a franchise, you are effectively taking on the responsibility of running a branch of an existing company, personally managing each aspect of its daily operations. One benefit of doing this is that the business is yours. Therefore, you become your own boss. So, the more work you put in, the more you get out, which will feel far more rewarding and empowering. With a franchise, you are self-employed, so any effort you put into running your own business will impact you directly rather than benefiting someone else.
Becoming a franchisee is an appealing proposition when compared to remaining an employee as it essentially allows them to steer their life back in a direction of their choosing. This means once you’re a franchisee, you decide how you’d like to work. And as long as you still meet the agreed standards set by the franchisor, the day-to-day operations are very much in your hands. When you own a franchise, even if you have a job within your business, you still get to choose when you work, how you work, and how much time you put into it.
You receive genuine care and support
Another concern for employees is a feeling of stagnation due to the lack of training and career progression on offer. The lack of professional development for employees is shown by the same survey from Totaljobs, which shows that only 1 in 10 employees received training from their employer in 20202. The world of franchising is different, as franchisors offer their franchisees training and ongoing support programmes to educate them on how to run their business successfully.
A common motivation for people wanting to become a franchisee is that they’re unfulfilled in their present job. People could be unhappy at work for several reasons. It could be that they don’t like their boss, they could feel undervalued, they might feel like they should be doing something more meaningful or they could simply feel unmotivated and bored. Becoming a franchisee is the perfect solution to feeling discontent at work because it gives people the chance to own a business they are passionate about and invested in. Although franchisees do have to follow the franchisor’s systems, it is ultimately their business to drive forward.
1 Investors in People, 2019, Job Exodus Trends
2 Totaljobs, 2021, UK workers after a fresh start in 2021 with 9 in 10 looking for a job