The last few years have been full of unexpected and unforeseen circumstances which have delayed many people’s plans. Just as the pandemic seemed to be taking a back seat, fuel costs and a cost-of-living crisis hit the news. So you could be forgiven for deciding to postpone making a start on your future plans.
But in the longer term, there is always a reason for uncertainty and delay; the economic ebbs and flows are a constant when you take a longer view. And being in business for yourself is always going to be a challenge, so waiting for the optimum time to launch is probably going to stop you from doing anything at all.
If you’ve been looking at franchising for a while but still haven’t taken the plunge, maybe these five reasons for going ahead might strike a chord.
Autonomy
You will be taking control of your life after what might have been many years of working to someone else’s timetable. Work from home, no, come back to the office; long hours; missing various family events as you can’t get the time off, and never get to set your own priorities.
Does having greater autonomy and flexibility appeal to you? Franchisees have the freedom to make decisions and manage their business according to their own preferences.
Money
You could have the potential of earning more than you would as an employee, depending on the franchise business you are operating. The more successful the business, the greater the potential for earning higher profits and building an asset to sell in due course. Of course, not everyone wants to buy a franchise to make money, some are looking for a different, more relaxed way of life, which brings me to the next reason.
Lifestyle
Full speed ahead, money making a priority? Better work/life balance, with time for family and hobbies? Or would something in-between suit you better? Well, the beauty of franchising is that you decide! If you want more flexibility and family time, then look for a ‘lifestyle’ franchise where building high sales is not the key priority. Or if sales and profits are your key driver, then look for something you can scale and grow.
Training
A good franchisor will offer extensive training, not just as you start your franchise but as your business grows. You will have the benefit of the franchisors experience to help you as you grow your franchise, as well as the support of your fellow franchisees. Sharing best practice and camaraderie with others in the same boat ensures that you are not alone.
Ownership
You have a personal stake in the success of your own business which will make all the difference in terms of your job satisfaction. There is nothing to beat the pride and ownership you feel when you are responsible for your own success and able to reap the rewards accordingly.
So, is 2023 going to be your year? Will you take control of your future and make a start on building an asset for your family?
You still need to research thoroughly and make sure that you pick the right franchise for your skills and ambitions. Don’t take shortcuts or make hasty choices.
But also, don’t be put off by external factors outside your control. There will always be some reason to delay, whether it is the local economy, global issues, or negative newspaper headlines.
Only you can take charge of your life and make the decision needed to go ahead – are you up for the challenge?
