Execs Turning Towards Franchising Opportunities
The comforts of working in corporate America—lifetime job security, annual bonuses and cushy pensions—are a thing of the past. Beyond the need to secure their financial futures, executives are turning towards franchise opportunities for another reason - job autonomy. While some see it as a chance to start a business, others look at the opportunity as an exit strategy escaping depleted 401(k) plans, thin staffs and restrictive management.
“In a franchise,” said a former exec from Atlanta, “it's a great feeling to wake up everyday being able to be creative, and knowing you can take action, versus going through some long, laborious process of decision making and bureaucracy.” Entrepreneurs on a quest for a more hands-on work experience see franchise opportunities as a way to make great contributions to the success of a company. Fearing the possibility of layoffs from their current positions, more executives than ever before are reaching out to franchisors.
Startup firms run a great risk of failure during tough economic times. And for those lacking prior experience of running a company, the proven business model associated with a new franchise opportunity offers a safe transition into entrepreneurship. Comprehensive training and ongoing support are just some of the ways franchisors assist up and coming franchisees. As such, experience in a particular industry is not required.
To bring passion to the workplace, choosing a franchise best suited to your personal interests is recommended. Those with a financial acumen can consider, for instance, tax franchises as a way to make their mark in the franchising industry. With startup fees often as low as $70,000, these low cost franchise opportunities cost much less than other firms in the market.
The use of trademarks, and the brand name itself, is the single greatest benefit of entering this business model. As creating brand awareness amongst consumers can be a challenge for smaller enterprises, investing in these opportunities allow franchisees to kick-start their business with a name people can trust.
If you’re expecting the money to come rolling in while kicking your feet up on the desk, think again. To achieve greatness, getting your hands dirty may be required. “Absentee-managed businesses do not perform nearly as efficiently as those with managers who are actively involved,” said the vice president of a small business lending company. From custodian to chief executive, be prepared to wear many hats. Nonetheless, the rewards that come with the hard work are what many franchisees value the most. “I find myself waking up at 4 a.m. thinking about something that needs to be done. If I don't get up then and do it, I worry it won't get done. But, honestly, I'm smiling the whole time.”
The franchising information contained in this Web site is not intended as an offer to sell a franchise or the solicitation of an offer to buy a franchise. The following states and provinces regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states we will not offer or sell you a franchise unless and until we have complied with the applicable presale registration and disclosure requirements in your state.
Minnesota state franchise registration number F-4418 and F-3918.