It takes an entrepreneurial mindset to consider going into business for yourself. Some people have always known they’d one day be their own boss, while others end up business owners after previous career acts. And while they all have one goal in mind—control of their own destiny—the candidates we deal with at FranNet of DFW and Oklahoma come from all walks of life. Since we get asked this question fairly often, we thought we’d share who, exactly is looking at franchise ownership as a means to owning a business of their own.
The most common candidates for franchise ownership are featured below:
The Executive in Transition
The term “downsizing” entered the lexicon of Corporate America several decades ago. Designed to describe the negative outcome of corporate layoffs, which used to be called firings, the term was meant to soften the experience and render the “downsized” as victims, blameless pawns in the endless boom and bust business cycle of bull and bear market economies. Whatever the terminology did to lessen the stigma, the after-effect was nonetheless an ordeal for entire families whose breadwinners no longer had an income stream to support the household. The ones who consider the most recent “downsizing” the last straw and choose not to continue riding the corporate merry-go-round become our executives in transition.
Servicemen and women from the U.S. Armed Forces transitioning back to civilian life make excellent franchise owners and operators. Which is why they’re a common candidate for the investigative process. The training and skills they’ve learned during their service give veterans an advantage what it comes to entrepreneurship. Discipline, leadership, teamwork, motivation, and accomplishing a well-defined objective are the hallmarks of good franchise owners. But the greatest asset is the ability to follow a set of defined procedures, while following a proven business model, in pursuit of a common goal (mission) – success as a business owner.
Many successful businesspeople, with a portfolio of companies that make up an enterprise-level operation, see franchise ownership as a means to diversify their holdings. A profitable franchise business, typically one with a semi-absentee business model, becomes yet another money-making operation. Franchising is an attractive choice because they can “manage the manager” in a concept that features a proven business model and all the tools necessary to run a successful operation. Some choose franchising solely for the additional income, while others see the franchise as a means to own a legacy business, something from their portfolio that can be passed down to a family member, giving them a leg up in the future.
Empty Nest Spouses
One of the fastest-growing franchise ownership segments is the empty nest spouses. These former stay at home moms now have grown children and are anxious to contribute to the household finances and savings through business ownership. Most are not only surprised but delighted to see the sheer number of business concepts to choose from in the franchising world.
Perhaps you see yourself in one of the four categories above. If so, or if you’re nurturing your entrepreneurial dreams nonetheless, it’s an advantageous time to consider business ownership through franchising. A no-cost, no-obligation meeting is all it takes to get started on your journey today.
As the post-Covid business landscape continues to reveal itself, choosing to become your own boss is becoming more prevalent…and FranNet of DFW and Oklahoma can help you investigate a franchise that perfectly aligns with your lifestyle and financial goals.
As we like to say…don’t delay. Call today!