Why Do You Want to Own a Franchise?

An inquisitive child never seems to stop asking the question, “But, why…?” almost to the point of absurdity. As adults we sometimes need to remind ourselves of the value in this soul-searching methodology when it comes time for critical decision-making, such as “Why do I want to have my own franchise business?”

Many people who go through this process of wanting to own a business start with valid reasons. Perhaps you see yourself in one of these scenarios, or something similar:

• You want to transition out of an unhappy situation with your career progress.
• You are experiencing a deteriorating relationship with your employer or supervisor.
• You may have actually lost your job, as is all too common these days.

Therefore, it is only natural for you to gravitate towards the desire to own a franchise. Now that you have presumably determined the basic rationale, it is time to look in the mirror and ask yourself a few more deeper, thought-provoking “why…because” questions and answers:

• Because being a franchise owner hopefully will mean better income for you?
• Since you want to advance your lifestyle to the next level?
• Because you can be your own boss and provide a different change of pace?
• So you see yourself as wanting to grow over the long term?

Let’s examine each of these tough questions in a little more detail because they are all well-founded. Also, they might be able to confirm that your personal desires and career needs will match the benefits of owning and running your own business.

Most franchise owners enjoy the benefit s that result from a proven business model. Thus, earning a six-figure income can be a very good incentive, but remember that there are no guarantees in life. Also, it is important to realize that often statistics show that it takes a few years of hard work before you can realize the fruits of your labor.

For some, income and lifestyle go hand-in-glove. For others, working from a home office, being with the family, or getting away from shift-work are other key factors for wanting to run a franchise.

In addition to training provided by a franchisor, you should have some practical business knowledge and experience. Being the “boss” often requires a lot of personnel responsibility and large doses of “the buck stops here” attitude.

Owning a franchise can be very rewarding financially as well as personally. If you are a goal-setter and an achiever, franchising can offer opportunities that will challenge you to address and overcome.

While none of these reasons or statistics stand totally infallible, they do underscore the importance to contact an expert franchise consultant for guidance in this critical business decision.