Chances are, at some point in your career, you will find yourself out of work due to a layoff.
“Now what do I do?” is a typical first reaction.
As the job search commences, however, a bigger question looms.
“Do I really want to take another corporate job and experience this again?”
Even if, in the end, you decide to pursue another corporate job, evaluate the option of running your own business. It doesn’t hurt to explore the possibility.
And an easy place to begin is by looking at running a franchise business. A franchise gives you the operational template and partnership guidance not found in starting a business from scratch.
So, how do you correctly identify a franchise that aligns with your entrepreneurial interests and experience?
Partner with a Franchise Consultant
People pondering franchise ownership tend to narrowly explore opportunities during their initial search.
Some focus strictly on the business return on investment, the type of work that matches their experience, or the skills they bring to the table.
Each of these areas is important, but you need to evaluate all facets of franchise ownership.
The extensive web research and self-reflection needed to review franchise possibilities can be daunting for one individual. After all, you don’t know what you don’t know and franchise searches, generally, don’t include criteria of “semi-absentee” or “9-5 M-F.”
Rely on the guidance from a consultant. They use their extended franchise knowledge to weed out businesses you might view as contenders, but they’re not an appropriate fit.
Ask Questions to Find a Franchise Fit
Do you know your business strengths and weaknesses? What about your personal strengths and weaknesses?
What business areas are you looking at? Why?
What about employees – how many feels like the right number? Have you considered what your answer means from a management perspective?
These are a few of the fundamental characteristics of your desired business that a franchise consultant should seek to understand before you dive into specific business concepts.
I encourage and help my clients to explore various franchise categories in order to get a feel for which business-types are interesting, but that should be used as just one benchmark to qualify their potential franchise partner candidates.
Free Franchising Advice to Shorten Your Search
Deciding on your next career adventure can feel like the thrill of the chase or like finding a needle in a haystack. As an experienced franchisee myself who spent too many hours trying to find the needle before working with a qualified consultant, please let me help you review franchise options in your best interest and escape that next layoff.
P.S. It’s a great time for people to question the security of a corporate job and consider owning a franchise. I encourage you to look for franchise guidance from me, Jeri Lucco. Call me at 614-768-3884 for a free, no-obligation discussion. I will help you quickly understand the franchising world and how franchise ownership may be your next career move. We’ll review your business interests, finances, and ownership dreams. If we decide to work together, I’ll do the research and collaborate with you to identify franchises that best fit your business ownership vision.