What would you do in 2016 if you knew that you could not fail?

Author: Heather Gleeson

Date: JAN 11th, 2016

Topic: Franchise News And Advice

Is this the year you are going to kiss the job you loathe good bye and invest in your own tried and tested franchise business and become your own boss?

Many franchise owners relate stories about the incidents that triggered their final decision to buy their franchise. For many it was that back to work early New Year frustration with their former boss that pushed them online and picking up the phone to discuss future franchise possibilities. 

Here are seven things you can do this week to move you closer to buying your own franchise and becoming your own boss:

1.    Visit the two franchises at the top of your list. Experience the smell, taste and feel of the franchise business. Being respectful of peak/off peak periods of trade, talk to the owner about their background and future plans with their franchise group. Visualize yourself in their shoes and gauge how that feels.

2.    Make a list of any/all of the questions you still want answers to and then contact   the franchise head office, for answers. You will have an opportunity to experience the daily routine etc. before outlaying a dime. 

3.    Write a list of all the benefits of being your own boss and a franchise owner. Be sure to include accessing planned proven business models, avoiding the need to ‘go it alone’ and joining their franchise family.

4.    Speak to your family/partner about your pending franchise decision and ask them for feedback. This is a great time to share with them your dream of building your franchise business, which may ultimately become a family business and provide employment for more than one family member. If any of them are risk adverse or worry warts, be sure to explain how joining a franchise group in fact minimizes risk as you are joining a group where the systems are already in place and running successfully. If you have been working 70+ hours per week in your current job, one of the benefits of being a franchise owner may be that your partner/family manages to see more of you when you are your own boss.

5.    Talk to your accountant and crunch the numbers. Create an exit plan from your current job and confirm cash flow and projections during that changeover period and any tax implications.

6.    Plan to spend time with the franchise head office management (online or in person) where you will be given an opportunity to really see yourself stepping into the franchise owner leadership role. Listen to the franchise head office staff, they know their business back to front and inside out. It is their job to answer all the questions you have, so don’t hold back. Don’t leave the premises, or go offline until you are confident that you have all the information you need to comfortably make a decision about the purchase of your preferred franchise business.

7.    Finally, as the Nike ad says, “Just Do It!” Speak to your boss and work out a departure date that works for both of you. Talk about your franchising plans to your co-workers once your resignation becomes official. Who knows, they may well become your first customers in your franchise business.

Let’s face it you have been doing your research for weeks, maybe even months – it’s time to back your decision. What would you do in 2016 if you knew that you could not fail? Invest in your franchise of choice.

Don’t waste another year working in a job that you are not passionate about. Believe in yourself and back yourself by becoming your own boss and franchise owner.