As a marketing executive in the automotive industry, I lived by a simple rule: people buy benefits, not features. They don’t buy a heated seat, they buy a warm commute on a cold morning. They don’t buy a backup camera, they buy safety for the children playing in their driveway. Franchising is no different. So when I talk to candidates, I emphasize the benefits of becoming a franchisee. Those are the true reasons I love franchising and consider it the best decision I’ve ever made. Keep reading to learn what they are.
Create a better future
Franchising carries incredible wealth-building potential. Aside from the wealth tied to equity in your business, you also have no limit on your income. You can work harder (or just smarter), grow your business, and see a direct connection between your work and what you earn. And you can use that wealth to create a better future for yourself and your family.
How? First, the wealth you build through franchising can enhance your family’s financial security. You can pay off your mortgage, create a hedge against unexpected expenses, or add to your retirement funds.
Franchise wealth can also create opportunities for your children or grandchildren. It can fund college tuition, help a child or grandchild buy their first home or start their first business, or pay for activities (like tutoring or sports camps) that equip them for success.
Finally, the wealth from your business can create better quality of life for you and your family. It can free your spouse from the obligation to have a job, enable you to retire earlier, or help you take care of elderly parents. With a better income, you can also provide experiences, such as cultural activities or overseas travel, that help expand your family’s horizons.
Gain more time with your family
I decided to become a franchisee because I wanted to work to my full wealth-building potential. But more than that, I wanted the freedom and flexibility that franchising provides. As a franchisee, I am my own boss. I decide how, when, and where I work. You can have that same freedom. No worrying about back-to-the-office orders, working long days for someone else’s bottom line, or traveling across the country because your boss said you had to.
From my own experience and that of many franchisees I know, this freedom is especially precious because it gives us more time with our families. That’s a life-changing benefit, whether “family” means children or a spouse, your extended family, or your chosen family of friends.
If you become an executive franchisee, you’ll be especially able to take advantage of this benefit. Executive franchisees only have to invest 8-10 hours per week to keep an established business running smoothly. This is the happy position I’m in, and I wouldn’t trade it for anything. I never have to worry about whether I have enough PTO to cover a vacation or a visit to my extended family. I can have coffee every morning and dinner every night with my wife, and take time off in the middle of the day so we can go to a movie or the park together.
Even if you opt to become a franchise owner-operator, you can still gain more time with your family. You’ll have the flexibility to adjust your schedule as needed, without the stress of worrying whether your boss will think less of you for it. Leave early to watch your kid’s soccer game, or take a day to chaperone a field trip. Run a midday errand for your elderly parents or take them to a doctor’s appointment. Enjoy a lunch date with your spouse, without watching clock. It’s all possible when you’re in charge of your own schedule.
Become a better person
When you own a franchise, the experience stretches you. It demands new ways of thinking and exposes you to unfamiliar situations and decisions. If you’re like most franchisees, it also requires you to learn a new industry and way of working. These experiences advance your professional development, increase your skillset, and help you become a smarter and more well-rounded person overall.
One of the key benefits of becoming a franchisee is that it can also expose you to a more diverse range of people. Studies show that diverse environments make people smarter, more creative, and more innovative. They can also make us more generous and empathetic. Statistically speaking, Americans tend to spend the lion’s share of our time with people who look like us and share our worldview. As a franchise owner, however, you’ll have the opportunity to spend time with many people who are different from you.
This is especially true if you purchase a franchise that serves the general public, such as a fast-food or automotive repair franchise. But even if your franchise caters to a more exclusive clientele, you’ll likely have employees and vendors from all walks of life. I’ve experienced this diversity as the owner of salon suite franchises, and it has been an eye-opening process for me. Engaging with people whose lives are very different from mine has inspired me in more ways than I ever expected.
If these benefits sound like they’d improve your life, the next step is easy. Just book a short call with me or my co-consultant Lauri. We’ll talk through your goals and dreams with you and answer your questions about how to get started on the journey to your best life!
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