Franchising is the perfect option for professionals who want equal amounts control over their job and job security. You’re your own boss in many ways, but a lot of the responsibility also falls on the franchise head. The major bonus is that you don’t have to start a business from scratch - the model’s been setup, tested and proven effective. The real questions you have to ask yourself are, “What do I want from my career?” and “What am I willing to give up to get there?” The answers vary greatly from person to person, but if you want some of the control of running your own business mixed with the knowledge that the odds of it succeeding are good, consider a franchise. If you’ve chosen franchising as a viable option, you’ll want to take a look into the following four professionals who’ve made franchises work for them.
Greta and Doug Fowler
Greta and Doug own Brain Balance Achievement Centers, which help children work on their academic, behavioral and social problems. The best thing they did for their business was seek out untapped markets, which is similar to when you create your own business from scratch. Even better is that they turned their passion into work, which means they never feel like their actually working, even when they’re putting in the hours. In essence, they found something that matters, both to them and the public. Supplying a product or service for a market that’s lacking in your area is key to making it successful, so long as there’s also a demand for it. Keep in mind that some industries are recession-proof, like education and healthcare.
When Ines Turus changed her Cruises International business into Expedia Cruise ShipCenters, she increased her employee base from 20 to 120. The business necessities that Ines wasn’t about to spend money on with Cruises International were luckily included right in the franchise: branding, marketing, technology and training. The key to her success is partnering with people who do business like she does. Finding people to work with who are interested in and care about the same things you do, whether it’s travel, fast food or exercise, is the best way to maximize your efforts.
When Ron Zick started Wild Birds Unlimited, he got a pre-packaged, one-stop-shop type of business that was just waiting for someone as dedicated to animals as he was. Just like the Fowlers, Ron turned his interest and passion into a bonafide career. Something that Ron - and most business owners - soon learn is that it takes a lot of man hours to run your own business. Prepare yourself for working upwards of ten hours a day, at least six days per week, especially in the first several months (or years, even). It’s also important to find employees who care as much as you do about what it is you’re dedicating so much of your time to.
A Note About Capital
The entrepreneurs above, and just about anybody who chooses to work for themselves in some capacity, have learned the same lesson sooner or later: have the capital you need to live semi-comfortably while starting up a business. Being frugal is one thing; staying up at night because your bills are hopelessly piling up is quite another. Whether it’s a nice nest egg before you launch the business or a wildly dedicated work ethic once things get rolling, do what it takes to make sure you can afford both your job and your livelihood. Staying focused and relatively calm is the best way to be efficient and productive at work.
Adam Johnson is a professional blogger that provides tips and information on franchise opportunities and investments. He writes for FranchiseExpo.com, the place to find the best franchise opportunities available.
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