Whatever your circumstances, whether you are looking for a new career, are being made redundant or you are retiring from the forces – deciding on your next step is a huge decision. There are usually two major options – become your own boss or take up employment. It’s essentially a choice between two parallel lifestyles with a decision based on an individual’s personality and personal preferences. If you have always been an employee, becoming a business owner might seem daunting and setting up a business from scratch is quite the task. However, a franchise resale could influence this decision. Becoming a franchisee is already less risky than starting up a brand-new company. You have an existing model right there to follow, as well as the guidance of franchisees who have done it before you. A resale gives you even more stability – the business is already up and running, with cash flow, clients and an established reputation.
Becoming your own boss is an option which is more appealing for persons with an independent streak. But it is not limited to people who are already inclined to take on this role – with a franchise you get extensive training that will help you with the day to day running of your business. There are many benefits to choosing to be a franchisee – you have flexible work hours, you can see a potential earning amount (based on other franchisees in the network), you can work on the things you enjoy and you have a network of franchisees as well as the support of your franchisor. It’s a pretty interesting prospect but one which does come with enormous responsibilities.
Unlike a business owner – those who choose employment are expected to carry out all tasks assigned to them by their boss and depending on your personality this will either be a good thing or a really horrible way to work. Whilst an entrepreneur is required to carry out all tasks necessary for the success of the business, they also have the opportunity to grow their business and delegate tasks to employees as their business grows. The benefits of this in terms of a franchise resale are that the business is already set up and will either already be a management franchise with a team of staff in place or have the potential to become a management franchise. A franchise resale offers you the opportunity for a better work-life balance whilst benefitting from a growing business.
Choosing a career in the corporate world can be an exciting prospect and with the stability a corporate job provides it can be a good choice. As an employee, you are sure of a lot of things- your work hours, your income, and your responsibilities. All these benefits are factors required to make stable career and personal plans. However, there are many more restrictions than if you were to work for yourself, As an employee, there’s always a limit to how much you can make, you might need to work a lot longer and for several more years than a business owner to make as much as they do.
Perhaps one of the biggest benefits of a franchise resales is that whilst it could be riskier than becoming an employee, the franchise industry and particularly some sectors within are especially recession proof. A franchise resale further still, has more security than a startup as not only do they have the backing of a franchisor and their network, they also are an established business. Thus, taking some of the risk out of becoming your own boss.
Deciding between these lifestyles can be a daunting task. Despite the lure of entrepreneurship, the lifestyle is not for everyone, and it requires a great deal of discipline to manage this lifestyle successfully. However, with proper management the benefits are immense, and when done correctly you have the potential to retire early or to continue to build your business into a highly profitable entity and eventually sell it on.
Take a look at our franchise resales and start your next exciting career move today.