25 Apr Top 5 Reasons To Quit your Job Today and Start Your Own Franchise
Most people dream of having their own business but only a few actually get to live that dream. Nevertheless, the lure of being your own boss and working your own hours is so attractive. There is no better feeling in the world than having your own business no matter how small or big you start.
Today in the UK, franchise business is getting a serious boost; there is record job growth, in part thanks to many people that took the bold step of quitting their business to start up a franchise. These groups of brave entrepreneurs are now employers of labour. According to statistics, 2016 saw a record number of 608,100 startups registered, beating the previous record of 581,173 registered startups the previous year. This number shows that even the average British worker is now realising the benefit of having their own business.
A franchise is the best way to have your own startup, after all, you don’t need to re-invent the wheel, the brand is often already established, bulk of the work is already done for you, all you need is a capital to plug into an already established system that has been proven to work and start building your own business.
If you have ever dreamt of having a business you can call your own, franchise business opportunities provide a smoother route toward fulfilling this desire. The great thing about this system is that the franchisees can take a step by step approach toward successful business ownership.
You can start up franchise full-time if you have the capital. Alternatively, there are others that make it possible to start your franchise business with part-time ownership and then scale up with them. Without a doubt, franchise business is a great opportunity anyone with mindset of having his own business should explore.
Starting your own franchise gives you greater control over your career progression and satisfaction. It allows you to learn new things every day and even make fresh business connections.
When to Quit Your Job
You don’t have to stick to a job you hate just because you are too afraid of sacrificing job security. Ask many entrepreneurs with successful business, most of them will probably tell you that they are scared to death when they took the decision to quit their job and start their own business. I’m not promising that will be easy but I definitely know that this opportunity will provide you with numerous rewards should you be successful.
Quitting your job is a decision you should make carefully. You can’t just quit your job the morning after your eureka moment. Ensure that a franchise is an opportunity you are determined to pursue and you have the finances to support your family or lifestyle in the initial phase of your business after quitting your job.
There are two ways to go about franchise business; you can take the bold step of quitting your job right away and jump right into this opportunity on a full-time basis or establish your business why still working for someone else, although in some cases, this could get you into trouble and even a lawsuit.
Do you need signs to be sure? You should definitely quit your job to pursue a franchise opportunity if you see these 5 signs:
- You’ve always dreamed of having your own business
- You’re looking for buying power
- You don’t want to start a business from scratch
- You have a business plan
- You’re considering owning multiple businesses
There are advantages to quitting your job for a franchise, apart from freeing you from answering to a boss every morning, it also allows you to put total focus on your new business, make your own schedule, earn money for your business, and gives you complete control over your career.
5 Reasons to Quit your Job and Start up a Franchise
Now that you are convinced that a franchise is the right opportunity for you, let’s take a look at some of the best reasons why you should take the decision to get started right away:
- Work and Life Balance
Working in a corporate environment means you have to plan your life around work. When you own your own business, it gives you the opportunity to plan your business around your life. A franchise is ideal for you if you wish to achieve work and life balance.
- No Need to Start From Scratch
Using an established system increases your chances of being successful when you quit your job to start your own franchise. With franchising, you don’t need to go through the details in order to get your business up and running. This is the exact reason why even budding entrepreneurs with successful enterprises like to buy franchises.
- Easier to Finance
The ability to obtain financing from the major banks in the UK when you want to invest in franchise business is one of the major reasons why franchising is so popular. Banks know about the proven track record of success in franchises, hence they are comfortable with financing your purchase. This opportunity is seen as a lower risk compared to an independent business.
- Proven System and Track Record of Success
Fear of failure is one reason why most aspiring entrepreneurs are unable to start up their own business. Franchise eliminates this risk to a greater extent. You will be plugging into an established concept that has proven successful in other locations. No need to recreate the wheel. Franchising is designed to avoid so many mistakes most new startups make and help you focus on growing the sales. Moreover, many well-known franchises already have a well-recognised brand name. When you decide to buy a franchise, it will be just like buying a business with built-in customers.
- Training and Support
One of the reasons why most new businesses fail is because the owners lack training and support. They will be running from pillar to post seeking for elusive support. The case is different with a franchise, most franchise companies in the UK maintain a training program to help you succeed. Moreover, you know where to go when you need advice or support.
You should definitely give franchise business a try if you have been dreaming of having your own business. This opportunity eliminates the risk most new startups face to a greater extent. No need to keep answering to a boss, you could actually be your own boss and employer of labour when your business grows to multiple locations.