Why franchising isn’t just buying a job

Turning into a franchisee offers folks the prospect to personal a enterprise through which they’re invested and passionate – a stark distinction to working for somebody and never reaping the rewards for all of your exhausting work.

Alistair Glaze, Chairman of Enterprise Partnership, believes that franchising can profit folks in search of work in 2021 and provides his recommendation on why franchising isn’t just shopping for a job.

With the latest survey outcomes from ‘Traders in Folks’ displaying folks at work are 10 per cent extra sad of their jobs for the reason that earlier survey in 2015, it’s clear that franchising and all the advantages that include it may very well be the reply to many individuals’s issues. Having a job typically makes it troublesome for folks to understand their true potential and may result in folks turning into stagnant because of the lack of profession development. In flip, this results in unhappiness at work. Nevertheless, franchising supplies you with job safety, a versatile work-life stability and entry to coaching supplies that allow you to enhance professionally. So, listed here are my three prime the explanation why franchising isn’t just shopping for a job:

1. You could be your personal boss

Once you purchase a franchise, you’re primarily tasked with working a department of an present firm, managing each side of its day by day operations your self. You’ll get lots of the advantages of turning into your personal boss, in addition to the usage of confirmed methods and ongoing enterprise help from the franchisor.

For a lot of, turning into a franchisee is an interesting proposition in comparison with turning into an worker as a result of it primarily permits them to take again management of the course that their life is heading in. What precisely do I imply by this? Nicely, as quickly as you’re a franchisee, you determine the way you’d wish to work. And so long as you continue to meet the agreed requirements set by the franchisor, the day-to-day operations are very a lot in your palms. For instance, as a substitute of working a 9 to 5, Monday to Friday, now you can determine your personal hours. Once you personal a franchise, even you probably have a job inside your corporation, you continue to get to decide on once you work, how you’re employed, and the way a lot time you set into it. Need to play golf on Tuesdays and Thursdays and begin working round midday? Your name.

One other good thing about being your personal boss is that the extra you set in, the extra you get out, which is able to really feel much more rewarding and empowering to most. If we’re being trustworthy, we now have all felt like we aren’t being credited sufficient for the exhausting work we put in while working for another person, proper? With a franchise, you’re self-employed, so any effort you set into working your personal enterprise will affect you instantly reasonably than benefiting another person.

2. You’ll be able to scale up a franchise however not a job

The tough actuality is, once you’re an worker your wage is all you get, regardless of how expert or skilled you’re. So, even in the event you grasp your job and need to create extra revenue for your self, all you are able to do is ask for a elevate or take a job at a special firm that pays higher. Nevertheless, getting both of these items is way simpler stated than executed.

Turning into a franchisee offers you the choice to turn into a multi-unit proprietor and actually scale up your corporation and, subsequently, your revenue. That is the place a franchisee owns multiple franchise outlet. Most franchisors encourage this as a result of in the event you’re profitable in mastering the operations of 1 location, you’re very seemingly to reach replicating this success many times. Image this: your franchise enterprise is prospering. You’ve fulfilled your dream of proudly owning a profitable enterprise and also you’re proud to be making a distinction in your local people. Now, you’re able to take the following step and scale up your revenue and enterprise. Being an worker doesn’t offer you this feature. Turning into a franchisee does. And even in the event you’re working 40+ hours per week to run your franchise, you possibly can all the time rent somebody to tackle a few of your obligations to release your time to open extra franchises.

3. You’ll really feel valued and supported

One other widespread motivation for folks desirous to turn into a franchisee is that they don’t really feel fulfilled of their present job. Folks may very well be sad at work for a number of causes. It may very well be that they don’t like their boss, they may really feel unmotivated and bored, they may really feel undervalued, or they may really feel like they need to be doing one thing extra significant. And with a survey from Totaljobs discovering that 89% of staff within the UK are in search of a brand new job in 20212, it’s clear to see folks’s discontent of their present jobs. Turning into a franchisee is a superb resolution to feeling discontent at work as a result of it offers folks the prospect to personal a enterprise they’re invested in and enthusiastic about. Though franchisees do need to observe the franchisor’s methods, it’s their enterprise to drive ahead.

One other concern for workers is the dearth of coaching and profession development on provide, which regularly results in folks feeling stagnant. The dearth {of professional} improvement for workers is proven by the identical survey from Totaljobs, which reveals that only one in 10 staff acquired coaching from their employer in 2020. This can be a stark distinction to franchising, the place franchisors provide their franchisees coaching and help programmes to teach them on the right way to run their enterprise efficiently. These expertise are transferable and are tried-and-tested coaching strategies which are important to any job, not simply franchising.