Joel Libava
Unless you're living in a cave without WI-FI, you know that the US unemployment rate is at about 10% as of this writing. So, just who is it that's been getting downsized?
Manufacturing has been hit especially hard, and the entire automobile industry has been turned upside down.
Most of the folks that choose to work with me in their search for franchises to buy are middle management types and above. I spoke to a group of these folks today, at an ExecuNet meeting. I present seminars on franchise ownership about twice a year for this executive networking group, a group of recently downsized $100k+ folks. I wanted to share their former job titles, so you know who it is that's actually out there either competing for jobs, or looking at "other options."
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Here's the breakdown of the attendees;
- 3 HR Managers
- 1 Product Line Director
- 2 Business Operations Managers
- CFO/COO
- 2 Marketing Managers
- President
- VP Sales
- Plant Manager
- Auditor
- Automobile Component Engineer
- 2 Product Managers
- VP Sales and Marketing
- Online Learning Executive
- Marketing/Business Development Manager
- Senior Level Financial Manager
- Sales Support Executive
- Sales Operations Manager
- CEO Advisor
- 2 Operations Managers
Can you detect a pattern?
A couple of them came up to me after the presentation, and wanted me to follow up with them, so that they can learn about some of their "other options." If they're serious about going into business for themselves, and have the patience to find the right opportunity, I'll work with them in an advisory role, and see if I can help them not lose money in a franchise business.
Business ownership may or may not be the right thing for them to do. Together, we'll find out.
Sometimes, a new job is a better option. It just depends on the situation. It's not up to me.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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