Everyone wants to have time for what they love. Even if you absolutely adore your job, it’s still nice to be able to get away from it once in awhile so you can enjoy other aspects of life. Often, that’s spending time with your family and friends and pursuing your passions.
In honour of Father’s Day this month and in honour of doting dads everywhere, we are going to look at how being a franchising father can help you get more time for what truly matters in life: fishing. (Or whatever else you want to really be doing.)
Working for You
At some point, when your franchise becomes successful, you can start to step back from it once in a while. When you’ve hired and trained the right people to run the business without you, your business then starts to work for you by generating income for you without you having to actually be present.
Rather than you having to be there to run everything and make sure it’s being done to your high standards of quality, you can just check in once in awhile to ensure there is no slippage. Eventually, you may be able to expand your franchise to multiple locations, in which case you will have a mini-business empire going.
That’s not to say that this happens overnight. For even the most diligent of business owners, the process of getting to the point where your business runs smoothly without your involvement takes years.
It’s been our experience from talking with franchise entrepreneurs that it usually takes anywhere from two to three years before your franchise starts to turn a true profit and another year or two before you can really step away for any significant length of time (beyond maybe a weekend here and there).
Every franchise is different, of course. In some cases when a franchise opens up in an area where there is no similar service, that franchise can be booming within a year and other times it is a much slower process.
Generally speaking, though, you should expect to be working well in excess of 40 hours per week to get your franchise off the ground for a year or two. It’s daunting, but think of it like pushing a car. It takes a lot of effort to get a car in motion, but once it’s rolling, it’s fairly easy to keep it in motion.
Similarly, once you have your franchise profitable, and you know what it takes to get it there, it’s much easier to keep it that way.
In order to get your franchise running in a self-sufficient manner, you must have reliable, well-trained people to run it while you are away. This is where being a part of a franchise becomes especially helpful. A franchise will often help you to train your managers and will usually have training material available for you to use, whether it’s online training videos or in-person visits from your regional franchise managers.
Once you have your managers trained and you know you can trust them to run the franchise in your absence, you can start taking some much deserved time off. (By this point, you will probably need a vacation.)
You can start with weekends and then shorten your working days if you like. Eventually, you will get to the point where you can start basically going in only when you want to or only when it’s absolutely necessary.
And this is when franchise ownership truly pays off. We often hear from franchisees we’ve helped about how they are able to take extended vacations and spend more time with their children and spouses thanks to the business. Some franchisees essentially retire from the business, allowing it to run itself and simply reaping the rewards of ownership.
Once your business is set up and you have good people in place helping to run it, it’s completely up to you how much you want to be involved. If you’re enjoying the work, stick around and work to your heart’s content. If you are looking for more of an overseer role, you can do that, too.
To get to the point of having your franchise business work for you, you first have to choose which franchise you want to be involved with. That’s where FranNet can help you. If you believe you’re ready to take that first step toward becoming a franchising father so you can have more free time to be a doting dad, sign up for a free FranNet franchise search and consultation today.