7 Things Your Boss Doesn't Want You to Know About Franchises

Recently Forbes put together an article “Why Employees Are Quitting To Start A Business” which gave 5 compelling reasons why so many employees are leaving their corporate jobs to own a franchise business. 

The interesting thing is that in talking to our clients, we are hearing these same exact 5 reasons. 

Here are the five reasons:

1. I want to be my own boss
2. I want to do something I am passionate about
3. I want more flexibility
4. I want to build real wealth
5. I want to fill a need in my community

This is why we are calling this trend the “Great Liberation”, not the “Great Resignation”. Employees want to be liberated from being treated poorly, from having someone else dictate when, where, how they work. And how much they can make. When you’re liberated YOU control your future. You can say “F It” to your job because you’re going for more “F”. . . where F could be freedom, flexibility, financial security, fun, fulfillment, family, future or fallacy of job security.

The data backs it up:

1. It’s no wonder that a recent survey conducted by Digital.com revealed that 32% of Americans are quitting their jobs to own a franchise business. 
   
2. Earlier this year, Associate Professor Anthony Klotz of Texas A&M University predicted a “Great Resignation" would be the next challenge for American companies. 
   
3. And Meyer Feldberg, Associate Professor of Business at Columbia Business School, recently said, “We have reached a pivotal moment for employers to stick with the status quo and risk losing 30% of their workers or to reinvent how they do work.”
   

We hear it from clients all the time. Jill, who contacted us practically in tears, shared with us her story. She worked for the same company for ten years, then her position was eliminated at the start of COVID. Subsequently, she was re-hired into a lower-level role that she describes as, well, less than challenging. Not only is the company culture toxic, but her boss expects her to work 60 hours a week consistently. As the primary breadwinner in the household with a toddler at home, her mental and physical health is starting to suffer. “How do companies expect to retain employees like this?” she said. “I’m done. I’m ready for a change. Work-life balance is too important to me and my health.”

Many in the workforce today are looking to bail on their corporate jobs. They’re ready to give the middle finger to the companies that have been treating them poorly for way too long. Don’t get us wrong here, we are certainly not against Corporate America, but let's face it the rich are getting richer and the employees are getting screwed (in most cases). You hear it every day, a corporate executive who gets millions at the same time the same company is making health insurance cuts to its employees.  So we suppose it’s just getting harder to get excited under these circumstances to rally behind Corporate America, even if you sorta like your job. 

So, the “Great Liberation” has arrived, and here are things about franchising to get excited about if you’re open to exploring a change in your life and buying into a proven franchise system that is a great fit for you. One that matches your skills, interests, resources and passion.

Your boss is likely worried that you’re going to leave and instead explore franchise business ownership. Not just for one reason . . . . but 7 of them. Here are the 7 things your boss doesn’t want you to know about franchising, but you’re here reading, so you got this!

 7 Things Your Boss Doesn't Want You to Know About Franchises

1. While starting a business from scratch, almost 90% fail in the first five years and much higher amounts before 10 years. At the same time. Franchises have been showing success rates in excess of 85%.
   
2.  Many franchises are expanding rapidly and are currently looking for great owners. Covid was actually a boom to the franchising industry, many being essential businesses and franchisors that were able to quickly pivot and help franchisees with tools, technologies and solutions that others couldn’t.
   
3. When many think of franchises the first thing that comes to mind likely is McDonald’s or fast food. Today, that is not the case, there are over 4000 franchises available today in every category you could imagine, such as auto, health care, pet, senior care, and home services.
   
4. You might be thinking, like many that we talk to, that you have to have significant business experience to make it with a franchise. This is actually far from the truth, we have placed many in franchises with little to no experience running a business that are doing just fine today. What’s needed is the ability to follow a proven system more than anything. 
   
5. Oh, the money thing … you may be thinking there is NO way you have or can get the money to invest in a franchise. There are so many funding sources available today willing to assist you with financing a franchise and interest rates are the lowest in history. Some of our previous clients were even able to leverage their retirement accounts to acquire their dream franchise business.
   
6. According to the Digital.com survey, 52% of respondents stated that they wanted to quit to own a business so they could fill a need in their community. You can make a real-world difference not only by doing something you are passionate about but making a true contribution to your community. 
7. Finally, by investing in and operating a franchise, yes, you can have a work-life balance.  You are in control of your own destiny and how you spend your time.  Once you are free of the nine to five grind, the world becomes a lot less tedious, and you get to call the shots. It’s also a great way to step outside your comfort zone and realize your self-worth.
   

If you'd like to discuss how franchising can help you achieve your dreams and give you more flexibility and freedom, grab a day/time on my calendar when we can connect.

Here to help you achieve your dreams and get to your next level!

You got this!