As a company focused on helping new entrepreneurs get their feet wet with franchises, we naturally have to ask, “Why are franchisees attracted to a franchise.” It is one of our cornerstone questions. We always want to know how we can attract more and better franchisees to our network. Why franchise? Is it the right move for what you are specificially looking for? Let us help you figure out why franchising has its perks.
There are a bunch of different reasons new franchisees like what we have to offer with franchising opportunities. The reasons vary from person to person. They depend on your unique style, wants, and needs from your franchise. Every business model is different. The beauty is that we can help you choose from virtually all of them.
Let’s break it down a bit:
Control Issues
Are you feeling frustrated as an employee? You aren’t alone. Millions of people in America say the worst thing about their job is their boss.
Not having control over the work you produce can have a negative impact on your happiness, especially when you have a job that you SHOULD love. Something that is just right for you and you know you could run the right way if given the chance.
Feeling drawn to being your own boss is highly related to feeling like you want to be the one calling the shots. The one who can make the decisions that matter and make the right decisions. Someone who can choose what to do and when. That is the freedom of control that you experience when running a franchise.
Money & Financial Independence
We all know this one, of course. Money isn’t everything, but it sure is important, right? This is especially the case when setting up a for-profit business, like a franchise.
In the past 15 years, the economy in this country has gone through quite a few changes. There has been more volatility in the corporate workplace than ever before. Corporations are displacing more experienced employees in favor of lower-cost, less experienced staff. Many times they prefer to pay staff as subcontractors to simplify their books and lower costs like insurance.
Because of all this, many managers in the 45-60 age rage are finding it difficult to gain employment like what they are accustomed to. Unless you feel comfortable with the thoughts of retirement at your current age and income level, there needs to be something in place to supplement your income and generate money for you to live on. Franchise opportunities have become popular among these groups of professionals who want to take control into their own hands, run their own business, and generate their own independent income.
Lifestyle Benefits of Franchising
Among the most important benefits of owning your own business in general, lifestyle changes are a major draw for many future franchise owners.
Many of the prospective investors who we interview with talk about their wish to reduce travel, job-related stress, and the excessive number of hours they are working each week to make ends meet. Franchising your own business or series of locations can help with all of these factors. You will be local to your community to start. You also have the potential with franchising to do sufficient training to have staff handle just about all of the front lines work. Training isn’t easy. Nothing in business really is, but the potential of pulling back from your daily responsibilities over time is enticing to many owners looking to slow down as they get older.
Wealth Creation & Setting Financial Goals
Some looking to possibly open a franchise business of any kind know that there are cases where this type of opportunity creates significant wealth. In most other forms of employment, an employee does not share in the wealth they are responsible for their organization creates. You usually would put in your 40 years (or more, these days) and retire with whatever you have saved over that time, your assets, and your pension (hopefully).
Investors interested in franchise business realize that their hard work and effort directly create wealth for them. They understand that their efforts will create wealth that they will be able to access. They are going to be the ones who own their own wealth in the end and continue to grow with established businesses. When it is time to sell the business, it generally has grown and can be sold for enough to retire on,
If this is something that sounds good to you, you should look into franchise opportunities. There are plenty of them out there, in every conceivable field and discipline. Take a chance, make a call, make it happen for yourself.
If you want any other information, you can always get in touch with us. We are here to help!
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