Are you looking for a new job or a new business?
When I first meet with a franchise candidate I like to ask them a simple question, “are you looking for a job or a business?” I promise, it’s not a trick question, but it is a very important question. There is a big difference and it’s important to know which position you seek.
Job seekers are looking for the stability that a “job” provides. They like the routine and perform well in an office or corporate environment where tasks are clearly assigned and expectations are understood. They may seek leadership roles or businesses that allow them to work from home but nonetheless, they are more comfortable working for someone else. Franchise ownership is not the right path for them as it does not provide them with the environment they excel in. Although the franchisor will provide them with tools needed and will help them create the path to where they need to go, a lot of what is required will fall on their shoulders to actually go out and execute. There is no one else to outline tasks or assign the next project. While this idea sounds exciting at first, it becomes increasingly difficult for this individual.
Business owners seek the excitement of leaving the grind and long for something of their own. They want to be the boss and determine their own future. They tire of working for others and would rather determine the tasks and outcomes themselves. They are the risk takers of the world and seek ways to create their own destinies. Franchise ownership appeals to this group because it gives them the freedom they seek. They prefer being the sole responsible party for their path and excel in an environment where they are given this opportunity. However, this group also must ask themselves if franchise ownership is right for them or if starting a new business is right for them.
There is no right or wrong answer to this question, the world is made up of job seekers and business owners and needs both parties to make the economic cycle turn. Before beginning your franchise journey, I encourage you to ask this same question of yourself. Knowing the answer will help you better determine your future.