(My little cousin-Matthew)
The franchise model is very powerful.
One franchise business-owned by one person, can bring about a lot of change.
For The Franchisee
For someone that’s had some success in the corporate world, but has experienced the ugliness of being downsized, becoming the owner of a franchise can spell relief. That’s because if the franchise business that’s been chosen turns out to be a winner, the ex-corporate employee will never have to experience getting fired….ever again. Of course, choosing the right franchise isn’t easy. And, the financial risks are real if you choose the wrong one.
There’s another thing that the franchise model can do for the franchisee, and most potential owners don’t usually think of it while they’re entrenched in the investigative part of the buying process. The “thing” I’m referring to is self-esteem.
I’ve seen beat-down former corporate executives be transformed into the energetic and positive people they were before they received their pink slips. It’s a sight to behold, and it makes me feel great about what I do for a living.
I love moving people away from corporate America and into businesses of their own.
There are several other things that are really powerful for franchise owners. Maybe you’d like to share what yours are in the comment section below.
For The Community
One franchise business can bring about some much-needed change to a community.
Some of our nation’s rural area have been hit pretty hard by the recession. One well-placed franchise business in a small town can provide several things;
1. Light construction work
If the franchise is one that requires a location, like an Ace Hardware Store, or a UPS Store, the retail space that the new business will be located at will need some work. While this work wouldn’t be long-term, it would be work.
Hopefully, a local bank would be used for the franchise’s small business loan. There’s nothing wrong with a bank earning some income from interest. And, it’s a lot easier for a franchisee to go to a local bank for additional funds, especially if the banker can pay an in-person visit to the franchise location to see how things are going.
Most franchises need employees. If a food franchise like McDonald’s comes to town, 40-50 jobs are instantly created. Are they great jobs? Not really. But, once in awhile, a McDonald’s employee moves up the ladder. And does big things. You never know, right?
Even smaller franchises-ones that only need 7-8 employees, can provide relief for local communities reeling from high unemployment. New businesses=new jobs.
There are probably a few more things that franchises bring to an area. If you know what they are-maybe you’ve seen them firsthand, please share them below.
Finally, not everyone likes franchises. I understand. But, franchise businesses do create jobs. And, there are a lot of people that need them. In addition, there’s a lot of personal power that comes with franchise ownership. It’s very gratifying to wake up every day knowing that you are pretty much in control of your own destiny.
As a matter of fact, it’s really, really, powerful.
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"I was pretty focused on a particular franchise opportunity when I reached out to Joel Libava. In the course of a 1-hour conversation, Joel was able to provide direct advice to help clarify the process for me and help guide me through the next steps in my vetting process. He even put me in contact with other professionals who were able to help educate me further in my particular industry. The time and money were well spent."
- Brian Grayson, Franchise Buyer, Cincinnati