If you have been looking to make a career change, now is the time to make your move. COVID-19 has derailed many people’s business plans, but this does not have to stop you.
In fact, franchise ownership is a great career move, especially during the pandemic. If you are looking to have a more flexible work-life and want to make a change in your professional life, franchise ownership is an ideal way to start a business.
I’ll talk more about how you can benefit from this career choice throughout the rest of this post. So, keep reading to find out what the benefits of franchise ownership are, and how you can successfully own a franchise!
Why Should You Own A Franchise?
Starting a new business, especially during a pandemic, can be a big financial risk. You want to be careful with your money and with any business investments you make. However, franchise ownership can help minimize the risks of starting a business, even during a pandemic.
Of course, franchise ownership doesn’t completely eliminate the risk of failure. But, it does improve your chances of success by a large margin. Considering the state of the economy, it is best to put your money into a business that has an established customer base and a good track record.
Franchise ownership offers this possibility and can let you make a much smoother career transition.
What Are The Benefits of Franchise Ownership During COVID?
- It’s Less of a Financial Risk Than Starting a New Business
As I talked about, one of the biggest benefits of franchise ownership is the minimization of financial risk. When you decide to become an owner of a franchise business you are putting your money into a business that is already proven to be successful.
You will have to work to make your franchise business a success. But you already have the tools and resources to really grow your business. This is due to the existing, and successful business model that you will follow as a franchise owner.
2. More Structure and Less Stress
Starting your own business from scratch can sound like fun. But it can also be highly stressful and confusing. You just don’t have the same level of guidance and structure as you would with franchise ownership. This is why we highly recommend getting into franchising, especially during COVID.
Owning a franchise allows you to start your business with a plan, and you will have the confidence to market your business because of its established reputation. With an independent business, you have to prove yourself and create a brand from the bottom up, which can be a lot more work then you realize.
With the pandemic going on, you want a smoother start to your new career. Franchise ownership offers you this opportunity!
3. More Flexibility and Better Hours
Starting a franchise business requires dedication, time, and money. But this type of business ownership does offer more flexibility and freedom. You won’t be working a normal 9 to 5 job. Instead, you will become your own boss.
You will be given instructions pertaining to business management, as all franchise owners are. But you still have a lot of say about what goes on in your business.
And you can even hire people to run the day-to-day operations of your business. This can free up your time and give you the chance to live your life in a more balanced way.
4. It’s Easier to Get Funding For Franchise Businesses
Since your business is less of a financial risk, it will be easier to get loans and investments for your business. Really, starting a new business can be a real challenge, especially during COVID. And starting a business from scratch is a big risk.
You don’t know if you will be able to turn a profit, and you can’t prove that you will be a success. So, you might not be able to get funding if you are trying to become a business owner this way.
On the other hand, a franchise business is a part of an established brand. Investors know that the franchise can be a success and make a profit as they have done it in the past multiple times. So, they will be more likely to fund the business.
How Can You Become A Successful Franchise Owner?
If you are new to business ownership and the franchise business, you more than likely need professional help to find the right fit. Franchise consultants are skilled individuals who can help you find a franchise that fits your interests, skills, finances as well as your lifestyle and income goals.
The current global crisis has made business ownership and investment more complicated. Luckily, as a franchise consultant, I will ensure that your journey goes off without any major setbacks!
What Are The Benefits of Working with a Franchise Consultant?
Business ownership is a major decision. You need to surround yourself with experts. Be it finding the right fit in a franchise, understanding how to professionally research a franchise opportunity, knowing what your funding options are, getting legal advice prior to signing an agreement or finding a good accountant to help and guide you once you have made the purchase.
This is where I can help you. With my decades of business experience and 14 years of franchise consulting experience, I will guide you toward the best outcome for you.
Still, if you have doubts about franchise ownership, feel free to contact me. I can help answer any of your questions and will talk with you about any potential concerns. I can be reached by both phone and email today and will help you get started on your franchising journey!
ABOUT THE AUTHOR
Bill McKee has been a business owner since 1993 and built several successful businesses. He has a fascination for understanding different business models and really enjoys helping people. For those reasons, he has been a franchise consultant since 2007 and has helped well over a hundred people to be awarded franchises. If you are interested to see what is available in your area, contact Bill at (972) 767-8433 or Bill@TheFranchiseConsultingCompany.com.