Should You Get a New Job or Buy a Franchise in 2012?
by FranchiseKing, Guest Blogger
- Created: December 6, 2011, 8:19 am
- Updated: January 3, 2013, 4:02 pm
While I certainly can’t make this career decision for you, I can certainly help you put both choices into perspective. Let’s see what’s what…
If you’re contemplating which direction you’d like to take in your professional life, you certainly have lots of choices:
1. Keep your current job (I’m assuming you have one)
2. Keep your current job, but ask for a promotion
3. Keep your current job, and look for a better one
4. Keep your job, and look for a way to become your own boss
5. Leave your job, and look for a new one that’s better
6. Leave your job, and look for a way to become your own boss
Let’s say that you’ve made the decision to find a new job in 2012. You’ve chosen this path because you actually enjoy working for someone else. You know that there are fewer headaches involved when you’re an employee. You’d rather leave things like meeting payroll, paying for rent, and having lots of liabilities to the business owner. You just want to make a nice living, and avoid the pressure-cooker environment that small business ownership sometimes entails.
You’re also trying to avoid risk, and you know that investing in a business of your own would require you to use some of your own money, a concept that you’re not too keen on.
You also really like the fact that most employers kick in some of their own money towards your retirement…it’s free money, and you really like that. In addition, most employers share some of the cost of health care with their employees, and that’s definitely a plus in your mind.
The bottom line is that you’re not willing to sacrifice a lot of the things that you usually get as an employee, just so you can be your own boss.
So, if you decide that working for someone else is a better fit for you, that’s certainly okay; becoming the owner of a business isn’t for everyone. As a matter of fact, all the things that go into becoming the owner of a franchise business aren’t for everyone, either.
Or You Can Be The Boss
Maybe you feel that it’s high time for you to take some risk, and invest in a business of your own. Franchise ownership has certainly been on your radar. Except you’ve read stuff, like:
- “Don’t go out and buy a franchise. The franchise company makes all the money.”
- “I knew someone who lost all his money in a franchise.”
- “Why would you want to be in a business where you don’t get to keep all the money?”
- “What are you going to do, flip burgers?”
But, still…you’re interested. That’s because you’ve also heard things more positive, like;
1. There’s a proven system in place
2. There’s support available from headquarters
3. There’s a formal training program
4. There’s built in branding and marketing
5. There’s group purchasing power
6. You can be in business quickly
There are a few more things about the business of franchising that are very positive. There’s also something else that’s pretty powerful that happens *when you become the owner of a business.
Career-related decisions tend to be challenging no matter what the economic climate is at the time you’re trying to decide what to do. The last two years have caused a lot of people to reassess things. People that have jobs seem to be a pretty grateful bunch, while those that have been out of work for 6-9 months or more are getting antsy.
One thing is for sure; nothing stays the same. Things are going to get better. Great job opportunities will start appearing again.
If you’re leaning more towards business ownership, the world of franchising is chock full of great opportunities for those that are willing to take on some risk.
I just wanted to get you thinking.
*Non-US government link
About the Author
The Franchise King®, Joel Libava, is the author of the book, Become a Franchise Owner! He's also a franchise ownership advisor; Joel teaches people that are interested in franchise ownership how to properly select and carefully research franchise business opportunities so they can increase their odds of success.
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