Buying a Franchise

Want to Buy a Franchise? Try Working at One First

It’s your dream job. Owning a business has always been on the top of your bucket list.

Opening a franchise sounds like the ideal way to achieve that goal. You are in control of your day but you have the guidance and established business name to get you up and running quickly.

Where do you start? If you’re like many franchise owners, you start by getting a job at the business you’re interested in pursuing.

Case in Point

Matt Howell is one example of a franchise owner who followed the path of employee to owner.

He started by working in restaurants around his city as a dishwasher and busboy when he was 16 years old. After graduating from Florida State University with a degree in marketing and working for a few years at the Panama City Florida fire department, he found his niche. He wanted to return to the restaurant industry.

Howell began by managing several franchise restaurants. He got to know the ins and outs of operating a business of this magnitude – and he liked what he saw. Soon after, he opened his first LongHorn restaurant in Dothan, Atlanta.

Why Franchise Workers Turn Into Franchise Owners

Many managers and employees shy away from owning a business because of the tremendous pressure put on their shoulders. However, when considering the benefits, it becomes clear why so many franchise workers turn into franchise owners eventually.

  1. You are backed by a large corporation. The backing of a large corporation is invaluable. You eliminate the burden of starting completely from scratch. Instead of worrying about planning your own menus or service offerings, you have everything laid out for you by corporate. In addition to food, you also get the marketing programs and designs. These essential elements cost thousands (if not millions) of dollars to test and create. For a business owner just getting started, it eliminates the need to invest a heavy chunk of money in having the marketing concepts created. Instead, it’s handed to you along with the keys to your own shop.
  2. You still have the support you need. It’s lonesome to own a business, which is why many people stay in the managerial role. The owners are the creative brain behind every big decision. Everything falls on their shoulders, except when you’re working in a franchise. Franchise owners get support from the corporate offices. Their staff does too. Instead of feeling like everything is your responsibility, you have connections that can give you the support and help you fulfil your dream of being a franchise owner.
  3. You get balance. As an employee, you already work hard to earn someone else money. As an owner, you get the balance of getting access to the company’s creative investments along with earning your own money. It’s the best of both worlds.

Research, then Begin

Any big decision requires a healthy amount of research before diving in head first. To get to know if a franchise is worth your investment, try working at one for a year or two. Get a feel for the climate and determine which industry and business fits your goals the best.

Image: Photospin

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