Recent Pew Survey Finds Franchising is a Refuge for Those Who Quit Their Jobs

We’ve discussed the Great Resignation several times before, primarily because it’s such an intriguing phenomenon to consider. We know that the number of Americans who’ve quit their jobs in the last 18 months is in the tens of millions. We know that a great deal of them just wanted to move up the corporate ladder in a buyer’s market. And we also know that many have decided to bail out and look for greener pastures – this time around to work for themselves, not someone else.

But a new survey recently conducted by the Pew Research Center is shedding some additional light on one of the main beneficiaries of the Great Resignation – a fact we’ve suspected all along – the franchising industry.

Why Americans are Quitting Their Jobs

The Pew Research Center was looking to pin down a culprit – to find out why people quitting their jobs had reached a 20-year high. As with any complex situation, the reasons given for voluntarily leaving their job were varied, but a few frontrunners emerged. The majority of the quitters – a full 63% cited the following factors as their two main reasons – low pay and no real opportunity for advancement. In third place, but not by much at 57%, the reason given was a feeling that their respective companies did not fully respect their contributions.

Other Contributing Factors

The survey, conducted in February of 2022, listed the remaining reasons why Americans are quitting their jobs in record numbers. Anyone with a passing knowledge of the challenges faced in Corporate America will recognize these factors, but they’re surprising, nonetheless. Almost half of all respondents – 48% said that a lack of access to proper childcare factored into their decision. 45% lamented the lack of flexible work schedules and 43% listed subpar benefits as a leading cause. Of those surveyed, 55% went on to find a full-time job replacement, but 23% reduced their workload to part-time only.

A Boon to the Franchising Industry

More than half, 53%, of all survey respondents completely switched their occupation or field of work. This factor was clearly a win for the franchising industry, which offers candidates a proven business model and corporate support to help facilitate their entrepreneurial dreams. Franchising also provides a cure for those who desire more flexibility and freedom in their work. Entrepreneurs who choose franchising to establish business ownership of their own end up with more control of their career, a better work-life balance, and it eliminates the risk of ever being downsized again. And those who choose the franchising option also end up with the best of bosses – themselves.

By all counts, at 18 months and counting, the Great Resignation still shows no signs of slowing down. As franchise consultants with FranNet of DFW & Oklahoma, we have heard you and understand your frustrations. Reading up on surveys, such as this recent example from the Pew Research Center, only reinforce our mission to help corporate refugees through their career transitions – and greener pastures. You can read a summary of the full survey by following this link.

If any of these reasons for quitting your job resonate with your personal situation, we’d like to hear from you. We are uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is let FranNet of DFW & Oklahoma be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs in North Texas and Oklahoma secure a future that belongs to them and them alone. If you’d like to get started on your own entrepreneurial journey, we’d love to introduce you to a whole new world of possibilities through franchise ownership. 

Jun 27, 2022