Some of the franchise candidates who contact us are trapped in an illusion: they think there’s a perfect time to start a franchise. They want the professional and financial freedom of franchise ownership, but they’re waiting for that perfect opportunity to make the leap. I’ll tell you a secret, though. There’s no such thing as the “perfect” time to start a franchise. People who are looking for the perfect time are usually looking for a choice without tradeoffs–but those don’t exist in our imperfect world. So rather than allowing imperfection to hold you back from your dream, keep reading to learn how you can move forward instead.
Nervous is normal.
Most of the candidates I work with have been executives for years, sometimes decades. In many cases, they’ve been with the same company for all or most of that time. Stepping out from under the corporate umbrella into entrepreneurship can be a scary choice–but that’s normal. It doesn’t mean that now is the wrong time to start a franchise.
Change often causes stress, even when the change is positive, so a feeling of stress alone is not necessarily a signal that you’re about to make a bad decision. And franchising provides a number of built-in features to help ease the transition from corporate employment to entrepreneurship. These include the franchise business system, which provides operational guidance, and the franchise owner network, which provides in-person mentoring. So while switching from the corporate world to franchising is a challenge, it’s one that’s buffered by solid support.
Risk is a fact of life.
For some potential franchise owners, risk is the big roadblock. As company employees, they felt sheltered from risk (even if they really weren’t). Now, their “perfect time” is the moment when they see a path forward without risk. They want a guaranteed return for their franchise investment. If the last few years have taught us anything, though, it’s that life is full of risk and uncertainty. What seems guaranteed today may be gone tomorrow–at home, at work, or anywhere. The only way to avoid all risk is to do nothing.
I recommend a more balanced approach. Act within reason to mitigate risk, but don’t let it hold you back from opportunities that could change your life for the better. This kind of approach is a natural fit for franchise ownership. As I explained above, franchising provides built-in risk protection, and you can take additional steps to manage risk in the franchise purchase process and the way you set up your business.
You’ll always have questions.
Some candidates don’t want to start a franchise until they’ve had all their questions answered. But that’s simply not possible. Running your own business is an exciting, ever-changing, complex process. You’re always going to have questions, even after you’re capable of mentoring new franchisees yourself.
And isn’t that what you want: an experience that keeps you mentally engaged and helps you keep growing? After all, a life with nothing new in it is pretty boring. So get your big questions answered, but be willing to move forward without knowing every single detail.
So maybe there is a perfect time to start a franchise, after all: now. Why not take the plunge? The sooner you begin, the sooner you can hit your stride–and start enjoying the professional and financial freedom of being your own boss. Ready to learn more? Book some time with me or one of the consultants on my team so we can help you figure out your future!
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