Owning a Franchise: A Sound Choice for Career Changers & Budding Entrepreneurs
Many career changers are budding entrepreneurs – especially those moving from the corporate world. They dream about the freedom of owning their own business. In fact, business ownership is one of the options that most FPC owners considered. For them, owning a franchise won out over starting or buying an individual business for a number of very good reasons. This is true for many others, as well. Franchise sector GDP grew 4.3% in 2012 and is expected to grow a similar amount in 2013.
The top reason that owning a franchise is such a popular path to career independence is that it lowers the risk of setting off on your own. We like to say that franchising is “Owning your own business without being alone.” Following are some other factors that make buying a franchise an attractive choice:
- Brand Recognition – Established franchises like FPC, which has been franchising since 1973, have a recognized brand identity and value. When you contact a potential client or candidate, you’re a known entity – from the day you open your office.
- Proven Methodology – A top franchise organization understands the business, the marketplace and what it takes for owners to succeed. Winning processes and best practices have been developed into a proven system. Just follow the plan and reap the rewards.
- Training and Support – The franchise organization will train you how to use its system effectively and offer fine points of running a business. In the case of FPC, we teach our owners the art of recruiting, as well as how to hire employees (we train them, too) and set up their offices. Training and day-to-day support continue for the life of the franchise.
- Buying Power – Franchise owners comprise a buying group, enabling the corporate office to negotiate better prices on an array of items, from office systems to software, than individual owners could arrange on their own.
- Ability to Create your Own Environment – Your office is your own and following the franchise system will help you to succeed. But as an FPC owner, you’re free to establish your own work environment, policies and procedures. We’re there for you if you need us, but it’s your business to operate as you see fit.
- Camaraderie – Franchise companies generally hold periodic conferences where owners can meet and learn from one another, as well as from industry experts. In the FPC network, owners are in contact with each other regularly to give and get advice and share leads and job assignments. (Link to 2011 and 2012 conference videos)
- UNLIMITED EARNING POTENTIAL – Although we’ve saved this point for last, it’s one of the chief motivators for owning a franchise. The more employees you hire and train well, the more you earn. Some entrepreneurial FPC owners expand their territories and open multiple offices. Your vision and ambition will get you as far as you want to go.