Last November, the Small Business Trends Alliance (SBTA) conducted a survey of over 3,100 current and aspiring small business owners across the U.S.
Nearly half of the responders (48 percent) said they were “very happy” owning a small business. 29 percent of the responders were “somewhat happy.”
So, 77 percent of small business owners are happy. Well, what motivated small business owners to start a business? Here are the top three:
Are you motivated by any of these reasons to start your own business? If so, welcome to the high likelihood of happiness as a small business owner.
Path to Happiness: Franchise Ownership
There are essentially two options for becoming a happy small business owner: start your own business from scratch or purchase a franchise with a solid, time-tested business model.
As a franchise consultant, I do have a slight bias. But my perspective is based on understanding the pros and cons of both options.
Starting a franchise business is the easier path to small business ownership happiness. The primary reason is because a franchise gives you an operational template as well as partnership guidance from the franchisor and other owners.
On-call, dedicated support isn’t freely available when you start a new business from square one.
Full-Time or Part-Time Participation in the Business: You Choose
Another unavailable benefit for those starting a business from the ground up is part-time participation. Without templates and guidance, you’re working full-time to figure out every facet of launching and maintaining the business.
In the franchising world, many franchisors allow full-time or part-time involvement. While almost every franchise expects owners to be engaged in the business, you decide how much hands-on work you perform.
Some franchise owners are happier with full-time work in the business while others are happier with part-time work. And when working with franchisors that permit either full-time or part-time participation, you can move between the two levels of commitment and determine which role makes you happier.
Free Advice to Help You Find Your Happy Place
To help you with your search for an appropriate business that is likely to lead you to your happy place, contact a franchise consultant like me.
Franchise consultants use their extensive franchise knowledge to filter through hundreds of business ownership opportunities in weeks instead of months for someone new to researching possibilities.
After the franchise consultant performs the heavy-lifting – at no cost to you – they’ll present a handful of possibilities matching your financial needs, engagement level, experience, and interests.
So, begin your search today for a franchise enabling you to join the 77 percent of happy business owners. Call me, Jeri Lucco, at 614-768-3884 for a free, no-obligation discussion. Together we’ll consider your entrepreneurial goals and review franchises matching your needs.
It’s time to be your own boss, pursue your passion, or leave your corporate life and find your happy place as a franchise business owner.