By Guest Blogger, Diane Pleuss.
Have you been downsized or looking to get back into the work world? There are opportunities, but it may take longer. There are fewer positions. There is more competition. Companies are being extra cautious. Age discrimination is still a factor. You may be asked to do more with less. Or you may have to compromise and take a lesser position just to bring in some cash.
So, what do you do? You could work with a skilled career coach, such as Julia Holian and expand your options.
For some people, owning your own business may be a great option. Yes, where you own the business and sign the front of the check instead of endorsing the back of the check!
Whoa! You say. That’s a really big jump. And it might be. It’s not for everyone.
What about a little more of a “middle ground?”
Who Should Be Looking at Franchising?
How about a scenario where you still own the business, but have all the support, training, technology and infrastructure to support you so it’s not overwhelming and greatly increases your chance for success?
Sound interesting? Then it might be worth looking into franchise options.
Now before you immediately rule it out because you don’t have a million dollars to invest -and the first thing that comes to mind is fast food – many are essential services that are booming right now. There are other options. Lot of options in many different industries.
Franchise options run the gamut from senior care to sports training, from pool care to pet care, from residential or commercial cleaning to hair or nail salons, from fitness to food, from weight loss to waste management, from IT to eyeglasses to education. You get the idea. For just about any industry, there is a franchised option.
One of the interesting things about franchising is they’re more interested in your “soft skills,” than specific job requirements. Franchise companies want someone who has a passion for business, what I call the “fire in the belly.” They want someone who can execute a proven model. They want someone who will give stellar customer service and uphold the brand standards. They want someone who wants to grow a business and build equity.
Successful franchising calls for someone who has confidence in themselves and their skills, and also finds value in the camaraderie of fellow franchisees, where everyone can work together, and one person’s success doesn’t come at the expense of someone else.
Some investment capital is needed as well as education to learn about funding options. Just like buying a house, most people invest about a third of the total investment and finance the balance. We often recommend funding companies that specialize in working with franchises.
Some people want to quickly grow a business and flip it while others want to work with a spouse, employ their kids or other family members and build a legacy. Some want one unit or location while the “empire builders” want to “own” the county!
The people who are franchise business owners, we call them “franchisees,” are really no different than you or me. They have just decided they want to work for themselves. They know it’s not going to be easy, but they’re willing to put in the time and effort so they can reap the long-term benefits.
Why Look Into Franchising?
There is a perceived security in a job. We’ve been told all along to get a good education, work hard and you’ll be OK. Well, things have changed. The “gold watch” is a thing of the past. Sometimes when companies have quarterly goals to meet, they do what is necessary to hit those targets. Many times people are downsized through no fault of their own.
One person interviewed for a pinnacle position in his career path: a CMO for a major automaker paying ‘big bucks.’ He knew the average person in that position lasts approximately three years. When he thought about Year 4, it caused him to pause. Did he want to be starting over – again, or did he want to be capitalizing and growing his own business? He turned down the position, signed the franchise agreement and is relishing the greater control.
Interestingly, your most secure day on a job is your first day. With each day that goes by, and as your salary increases, you become a candidate for a lay-off. Conversely, in a business, as you grow and scale your business, your role in it becomes more secure – not less!
Many people take a dual approach. They look at and continue to apply for jobs while also exploring franchise business ownership. They know the work world, the corporate ladder, and the corner office, but they don’t know franchising, and with an open mind, it can be a fascinating journey!
I compare it to taking a tour of a theatre. As a patron, you are familiar with your seats, the lobby and the rest rooms. That’s it. However, if that were a franchise, you would learn about and tour the ticket office, the prop room, costumes, the orchestra pit, backstage, dressing rooms – the whole shebang!
A franchised business should be transparent. You receive detailed information from the franchise company which you verify with the franchisees. Because of this, there really shouldn’t be any big surprises.
If you would like to learn more about franchising opportunities, please contact me… Our services are completely free to you as we are compensated by the franchise companies for the prescreening, qualification and education we provide. Note: franchising is highly regulated and the franchise fee for any new franchise will not vary if you work with me or decide to go it alone. I find most people welcome the advice and guidance of a franchise insider.
Be sure to jot down your initial questions and I’ll do my best to answer them. There’s a lot to learn and it’s pretty fun and exciting. It’s like a whole new world is opening up. Why limit yourself? This may just be the smartest move you make!
Diane Pleuss of FranChoice Franchise Consulting has been helping people realize their dreams since 2004. She has an MBA, is a Distinguished Toastmaster and possesses many years of real-world business experience. If you would like to explore franchising opportunities with her, contact her at DPleuss@FranChoice.com or call her at (925) 673-0412.