A primary reason why you might decide to become a business owner is that you want to get back control of your life. When you work for corporate America, you have to give more than you can ever hope to receive. You will earn the same amount each month regardless of how much quality and quantity of work you provide.
If you are thinking of starting your own business, you should look into franchises.
As a franchise investor, you will cut back on your work-related stress. Instead of merely following orders, you’ll be creating your own business. You will have control of your schedule, your income, and your life. If you need to take time off to spend more time with your family, you don’t have to ask anyone’s permission.
Naturally, when you’re researching the best franchise opportunities, restrict your selection to what interests you and what you may have a talent for doing. If you enjoy getting to know people, then think about a retail franchise because it will give you a chance to express your natural affability. If you have a passion for creating neat, clean, and organized environments, then think about a cleaning franchise. If you love to cook and serve meals, then think about a fast food franchise.
Use a Proven System
While there are many opportunities available to make money without a regular corporate job, many of them have an inherent risk—since you’re starting from scratch, you will struggle to make things work. What’s different about franchising is that the territory has been explored and you are given a map. You don’t have to take wild guesses on what to do. The franchisor has already done all the heavy lifting for you and mapped out a proven business system.
Although it’s easier to start your own business as a franchisee than as an independent business owner because you are using a turnkey system, this does not mean it’s a cakewalk. Even if you hire a number of people to do most of the work, you still have to administer everything.
Be Your Own Boss
There is a huge difference between owning your own franchise and having a job in corporate America. You’re not only your own boss, but you also get to enjoy all the fruits of your labor. If, for example, you conduct a highly successful advertising campaign to increase your revenue, you get to take home more money.
You can now start paying yourself what you’re worth, and you won’t have to punch a time clock. When was the last time you got a raise? When was the last time your employer adjusted your income to keep pace with inflation?
Although you may be one of the key players in your current organization, this does not mean you’ll be sharing an equitable part of the wealth that you’ve helped generate.
A corporate job will pay you for as long as you work there, and when you decide to leave you might get a gold watch. When you decide to leave your franchise, you get to keep the revenue from the sale of your business. So you’re building an asset, all the time you’re working,
Once you learn how to build one successful franchise, you can buy another one. By hiring able managers, you can free yourself from daily tasks and just focus on the big picture. Success builds upon success.
Franchising Isn’t For Everyone
To be honest, a franchise is not for you if you like to do things your own way. If you don’t like the franchisor’s business system but constantly seek new ways to improve it, you will not be spending your time well. Your job is not to refine the system, but to attract customers and sell products. If you are fascinated with the idea of fixing things, then you will not be able to work in harmony with the franchisor.
Besides purchasing the business, you will also be asked to contribute to the franchise system. You will have to make royalty payments for the use of the brand, for the training, and for the support. You will also be part of a larger advertising network and will have to pay fees for national brand advertising and marketing.
While you will not have any of these costs by starting your own business, you won’t reap any of the benefits either. You will have to build your brand on your own, as well as do without any training or support. In addition, you won’t be able to pool your money in with other owners to procure superior advertising opportunities, nor will you be able to buy products in bulk for a steep discount.
How to Be Successful
In order to be successful as a franchisee, you have to choose the right business for you, do your best to understand the business process you’ll be given, and work hard to make things happen.
If you do happen to get overwhelmed, a field representative can help you sort out any business problems you might have. If, for example, you’re doing everything right but not getting enough customers, a franchise business advisor can teach you how to fine-tune your advertising campaigns to generate more leads.
Imagine how different your life will be when you get back your power to create a good income on demand.
