Are you at a crossroads, feeling ‘stuck’ in a corporate role and unsure of where to go next? The dream of running your own business and the freedom to set your own work-life balance can make buying a franchise an exciting prospect. But as the saying goes, the grass isn’t always greener. It’s essential to consider what you might be leaving behind in the corporate world. This will ensure you have given due diligence to your decision and are ready to make your franchise a success.
Flexibility
Flexibility depends on both your employer and the franchise you choose. Workplace flexibility has come a long way, and you may be able to access a high degree of flexibility in your corporate role. But if you’re feeling the constraints of commuting to the office or the nine-to-five, then franchising may be the solution.
The opportunity to control your own diary and work when and where you want is undoubtedly a key appeal of franchising. You might finally be able to drop off or pick up at school, or be at home with pets or relatives. Think carefully about the type of franchise you buy into, though. Be clear on your objectives of making the switch. Do you want to work school hours or term-time only? If so, that should guide the type of franchise you buy into. Do you want to deliver the franchise services yourself, or will you employ a team to do it?
Consider how you might manage your franchise if you go on holiday. When you work for yourself, it’s not always as simple as putting your out of office on. Colleagues might not be able to cover you, and it can feel harder to let go when you have worked so hard to build up your own business.
Autonomy and Ownership
Do you feel stuck in endless meetings? Get the dreaded Sunday-night feeling? I have met many people who appreciate the stability and benefits of their corporate career. However, they feel frustrated that no one is listening, being pigeonholed into specific roles, or unable to deliver the change they think their business needs.
Running your own franchise puts you in control. Some franchisees have more stringent guidelines than others, just like some employers have a greater culture of empowerment. However, in general, a franchise should allow you to make your own decisions, spending your time and budget in the way you think is best. Goodbye to bureaucracy, paperwork, and a hierarchical decision-making process. You get to decide. You can act faster and go bolder, capitalising on opportunities. This comes with its own risks, as there is no one else to blame if things go wrong. But the highs mean so much more, knowing that you have made things happen for your business.
Support
In a corporate role, you have access to IT support, Finance, HR, Training and Development, as well as stationery and office supplies. But as a franchisee, who are you going to call if your laptop suddenly breaks down? Depending on the franchise you choose and the team you recruit, you may need to become a master of all trades – not just an expert in your field but a finance manager, tech support and marketing guru all at once.
This is where outsourcing can be a game-changer. As a franchisee, you can choose to bring in support. Scared of numbers? Outsource to a bookkeeper. Can’t face social media? Virtual experts can help. Smart franchisees identify their strengths and then use others to provide the support they need, enabling them to focus on what they do best.
Choosing the right franchise also makes a difference. Support isn’t just about skills or know-how. It’s about emotional support to guide you on your journey, particularly if you’re new to franchising. When selecting a franchise, ask about the type of support offered. Speak with other franchisees to hear about their experiences of what that support looks like in real life. We all need people to talk to when things go wrong, and to celebrate with when things go right. Franchising should be about going into business for yourself, but not by yourself.
All franchises, like all employers, are not made the same. It is possible to find the best of both worlds – the ability to run your own business and make your own decisions, with the support of a team around you. I have seen many women prove that you don’t have to do work that isn’t stimulating or won’t stretch you, to work flexibly. By running a franchise, you can do interesting and scalable work that fits around your lifestyle.
Take the time to clearly define your objectives for transitioning from corporate to franchise life. This will guide you in selecting the right opportunity and fulfilling your ambitions. Ask others for help and advice during your decision-making process, but don’t be afraid to listen to your gut. Everyone’s experience of both employment and franchising is unique. Only you can make your dream become a reality to lead the life you deserve.
