Whatever happened to the American dream? Being your own boss? Controlling your destiny? Blazing an exciting, new career trail?
With employees today working longer hours, inflation shrinking wages and profits, and the daily anxiety and stress from working in demanding environments, some are getting bogged down, discouraged, or downright depressed.
Fortunately, the American Dream is alive and well for those who want to work hard and smart owning their own business. Often, it comes down to finding the right business model and opportunity. One of the best ways of achieving that is through a franchising opportunity with an established model. Providing proven tools for you to achieve success this approach to business ownership may lead to a more opportunistic and profitable future for you, so you can achieve these positive outcomes:
Establish Work/Life Balance
It’s no secret that people are working more today. Even business owners are working longer and harder hours, as research shows that 30% of entrepreneurs work between 50-59 hours weekly. This is producing less satisfied workers and less fulfilled owners.
That’s where many of the advantages of franchising—utilizing a proven business model and the support of your franchise and reducing the common pain points of start-ups—can turn things around and help owners regain control of their professional and personal lives.
If you are an aspiring business owner that also prizes work/life balance, you may want to take note; while starting any business will take hard work, franchising can give you the structure and flexibility to set your own schedule and achieve a balance between your personal and professional responsibilities. This is especially important if you have a young family, are the, or are in, where franchising can allow you to enjoy the best of both worlds in the office and at home.
Grow as a Franchisee
To be successful in any endeavor, you don’t just go along, you grow along. As a successful franchisee and business owner, the same is true. Growth and engagement are key, and the goal is to expand and become more efficient and effective along the way. Employees and owners alike benefit most when profits, earnings, and opportunities increase.
In most jobs, your paycheck stays pretty much the same month after month, no matter how hard you work. But when you own a franchise business, you can realize the total results of all that hard work. As you grow your business, profits can go into your pocket, and not someone else’s. You grow in proportion to your efforts and the growth of the franchise.
Plus, there are many opportunities to expand and develop your franchise business, building upon your success in ways that no traditional job ever could.
Enjoy Financial Stability
A common fear of those thinking of starting a business is will they earn enough revenue and turn enough profit to make the return of the time and energy “worth it”. Owning a franchise gives you brand recognition and can help boost the timeline of the start-up phase of your business, helping to bring in customers and revenue more quickly. Opportunities are even available in recession-resilient industries, reducing the risk to the business during economic downturns.
Beyond profitability—bringing in more money than you spend—is the desire of many to establish a company with a purpose in the future—a legacy. It’s the difference between merely “clocking in” at work or making a lasting impact. Franchising and business ownership can give you legacy-building opportunities. Perhaps you’d like to involve your family in your business or hand it down to them someday. Both are great ways to not just provide for the present but build a legacy that will last. Even if that legacy eventually involves selling your business to someone else to “cash out” at retirement, you can build an asset with value in the marketplace when the time comes.
Give Back to Your Community
Becoming a franchise owner allows you to become more involved in your local community, allowing your franchise to become a staple of service while also improving your neighborhood. This gives you a sense of pride in your business’s actions and accomplishments for the community. As most successful people will attest, sharing successes and contributing more than they take in are recipes for a fulfilling life.
At Neighborly®, we encourage our franchise owners to give back to their communities, and many of our franchise owners enjoy doing so. From sponsoring local events and participating in community activities to contributing in many other ways, as a franchise business owner you can contribute directly to the health and welfare of your community. Our customers are also our neighbors, and by giving back, everyone benefits.
Explore the Benefits of Being a Franchisee
Through franchising, you can accomplish your goals of owning your own business and start pursuing the American dream again without sacrificing your lifestyle. Sound like something you would be interested in learning more about?
Download Neighborly’s franchising guide today to learn more about the businesses that best meet your passions, skills, and personal industry preferences, or talk to one of our franchising experts who would be happy to answer any questions you may have.
