Not a 9-5 job
Are dreaming of owning your own business and the freedom it will provide you? Maybe you need a reality check about what owning a franchise is really like.
When you are stuck in a 9-5 job, you can often find yourself dreaming about owning your own business.
You dream about being able to take two-hour lunch breaks, being able to take your kids to school and pick them up again, or if the weather is good, taking the afternoon off to go to the coast.
Sounds great doesn’t it? But if this is what you think owning a business is like, think again.
Running a business takes hard work and lots of it.
Even a franchise business, where the support systems are in place and training programmes are part of the package, normally takes working long hours to make it a success.
Along with the hard work, owning a franchise business usually does provide you with a certain amount of control over your working day. You are your own boss so you don’t have anyone else to answer to if you are late or need to take a sick day. On the flip side, you are also financially reliant on yourself so if you do need to take a sick day, you won’t get paid and your business may suffer.
When looking into becoming a franchise owner be realistic about your personality. Ask yourself some questions and answer honestly. Are you really the sort of person who can motivate themselves? Why do you want to start your own business? Are you prepared to work 10 plus hours a day to make your business a success?
This is important because if you think owning a franchise business is a quick, easy route to fortune, success and a laid-back lifestyle you are not being realistic.
When you decide to become a franchise owner you are forfeiting the rights you hold as an employee. You will no long be entitled to sick pay, paid holiday leave, or a guaranteed salary at the end of the month.
In return you get the opportunity to be fully in control of your career – no one telling you what hours you have to work, when you can take your holidays, and no office politics to navigate your way through. Ultimately, apart from following the franchisors business model, you get to set your own rules and working environment.
Speak to existing franchise owners and they will tell you that in the initial few years of launching their business they had to put in a lot of hard work. Eventually, however, once the franchise was operating successfully, they could start to enjoy the perks of being a business owner.
You need to decide if all that hard work is worthwhile when, for example, there is suddenly a sunny afternoon and instead of working you can pack up the car, head to the coast and enjoy the good weather.
Written by Derin Clark