5 signs it's time to quit your job and buy a franchise
Are you dreaming of owning your own business? Check out these five signs that it's time to quit that job and invest in a franchise.
1. You have a lifelong ambition to own your own business
You’re thoroughly sick of working for someone else, and are absolutely ready to be your own boss. Working for the shareholder only has so much reward, and you’re after that feel-good feeling in a job. You want to play a part in the decision making process and have a say in future plans.
You want to fulfil your ambitions and achieve something for yourself.
2. You are looking for buying power
Many small businesses fail because they don’t necessarily have access to network support in a franchise. A franchise network can provide a competitive edge in site selection, supply chain, and equipment. A franchisor can offer their expertise and connections to leverage these aspects of the business.
3. You don’t want to be a start-up entrepreneur
Of course you want to own and run your own business, but your not so keen on starting from scratch.
A proven system is a plus in your eyes - then you don't have such high costs, risks, or the uncertainty of going on your own.
You don’t want to be so caught up in the day-to-day running of a business that you don’t have a chance to work on the bigger picture.
A franchise system can offer network support with operations, marketing, and in some cases, a mentor to help you work on the business.
4. You want to build your own business empire
The idea of operating more than one business is something you’ve always wanted, but double or more of the risk, cost, and uncertainty of a start-up? That's not for you. Many franchised brands encourage multi-unit franchising. And with the support of a strong franchise system behind you – why not?
5. You already have a business plan
You have ambition, but not without reason. You have clear ideas about how you would structure a business and how that model would work. You’ve thoroughly considered the ins and outs of how each cog would function, and are ready to present it to business advisor.
- This article first appeared on www.franchisebusiness.com.au