It’s something that many of us dream about. Being our own boss. The truth is that more and more people are contemplating leaving their jobs and heading out on their own. But would you be better starting a business from scratch, staying with your current employer or taking on a local franchise?
Working for someone has its benefits. You have a steady salary coming in along with a pension and other useful extras. You don’t have to worry about much apart from getting your job done and doing what your manager wants.
It also has a downside, particularly if you aspire to develop your career or eventually become your own boss. In some companies, you must wait until someone leaves before a promotion opportunity comes along and some employers aren’t as good as they should be at helping with continuing professional development.
So, what does a franchise offer that a job doesn’t? After all, you’re still working for someone, aren’t you?
Actually, you’re your own boss. You buy into the company brand and use its processes and procedures, its branding and products but you’re responsible for the day to day running of the business. Yes, there are certain restrictions relating to the brand but, at the end of the day, you’re in charge.
You get a tried and tested business model that works. At least, you should if you choose the right company. Big firms such as MacDonald’s are almost all franchises, run by business men and women who have invested in the product and the company ethos.
Becoming involved in a franchise is about setting up in a business as your own boss but without the risk that normally entails. Yes, you need to put in the money to buy the franchise and, yes, you must work hard to make it a success (much harder than if you were a straight employee). But you are buying into a proven product or service that you know has already succeeded.
You are not limited the same way as you are as an employee working for a boss. You have a lot more control over your future and may even be able to learn the valuable skills you need to start your own business from the ground up. The rewards are also much greater than if you are simply employed – you can earn more just through your own hard work rather than drawing a standard salary that doesn’t reflect your true worth.
Most franchisors are invested in you to succeed. That means they’ll provide the training and development opportunities which may be lacking in your current employment. There will also be ongoing operational support that means you have a greater chance of success.
If you are looking to move away from the restrictions of being employed and slave to a boss who doesn’t seem to care about your future, a franchise can seem like a good option.
And it is.
As long as you do your research and choose the right franchise, put in the hard work and invest in a strong brand with a proven track record, you have a good chance of succeeding. There are plenty of opportunities out there for the right person who dreams of being their own boss. If you’ve had enough of ‘working for the man’ and want to try something different, then franchising is a profitable and enjoyable direction to take.