ACHEIVING YOUR DREAMS
I speak to people every day about their goals and dreams to help them determine whether business ownership and franchising is a good fit for them. It seems that most people are looking to better and to have “more”. More time to spend with their family. More freedom over their own schedule. More income so they can enjoy life and take better care of their loved ones. And more wealth so they can retire comfortably.
Most of my clients tend to be in their 50’s, some a little younger and some a little older, and the majority will admit that they haven’t reached many of their goals. And while many are financially driven (because the clock is ticking), many have always wanted to own their own business and seeking to fulfill a lifelong dream. The good news is, it’s never too late and you’re probably better suited for business ownership than ever before in your life. The experience and skills that you’ve gained, the mistakes you’ve made, the challenges you’ve overcome, have all made you stronger, better, and a lot smarter.
And although the notion of “achieving your dreams” is a little different for everyone, it has special meaning to those who aren’t ready to give up on those dreams. Owning a franchise doesn’t guarantee that you’ll attain your dreams, however, it does provide you with a proven business model, incredible resources, and support structure that can significantly increase your chances.
GETTING CLEAR ABOUT YOUR GOALS
They say that the definition of insanity is doing the same thing over and over again and expecting different results. When you don’t focus with intent on your goals, you are driving down the highway of life blindfolded and you’re likely to find yourself in the ditch of depression and self-pity.
The best way to reach goals is to create a strategic plan that outlines the steps you have to take, specific benchmarks, and a reasonable timeline. Set some time aside every month to analyze your performance against your strategic plan so you can make the necessary adjustments to stay on track.
I suggest you take some time to write down your goals for the following:
- Income – How much money do you want to be making? Set 3-year, 5-year and 10-year goals.
- Lifestyle – What type of lifestyle do you want? How many hours would you like to work? Would you like to have weekends off? Do you want to travel or make time for exercise or family?
- Wealth – What are your goals for building your wealth? Are you going to reach your goals operating one location or should you expand to multiple locations over time to grow income and net worth?
- Family – Is this business going to be operated solely by you or are you going to have your spouse or perhaps children involved? If so, should they be part of the franchise investigation process? Ultimately, will you need their buy-in?
- Community – Are you looking to make a positive impact in the community? Does the business need to provide you with the ability to become the local expert?
In helping people determine which franchises may be the best fit for them, it’s essential that I understand their goals. Different franchises have different requirements, income potential, scalability, and investment levels. My goal as a franchise consultant is to find that perfect match between my clients’ goals and the attributes of specific franchises.
Franchise Fee: $60,000
Locations: 16 open / 100 sold
Franchise Fee: $30,000
Locations: 7 open / 29 sold
Franchise Fee: $49,500
Locations: 29 open / 100 sold
Franchise Fee: $49,500
Locations: 175 open / 632 sold
Franchise Fee: $45,000
Locations: 236 open
FRANCHISE OWNERSHIP VS EMPLOYMENT
Many people that decide to buy a franchise have been working for others their whole life and have come to the conclusion that they no longer want to trade time for money. They’re tired of having to be accountable to someone else and worried about losing their job over things that are out of their control.
Franchise ownership allows you to build a business that supports your lifestyle, income, and wealth building goals. You’re working for yourself, but not by yourself. Sure, you have to work hard, but you are working for more than a paycheck. You are proving to yourself that you can achieve success through business ownership. More importantly, you are building goodwill in your community as you are building equity in your business. You can’t be fired, laid-off, replaced, or lose your job due to company downsizing or company politics.
Franchising, like any business, does have some degree of risk. Because of the advantages franchising provides, franchisees are able to minimize many of the risks typically associated with business ownership. But isn’t there risks also associated in being an employee? Like not being able to live your life on your terms, income caps, and inability to reach your big goals. And the job security that Americans experienced a generation or two ago no longer exists.
If you’re tired of company politics, worried about downsizing, or just ready for a change, I am happy to help you explore franchising the smartest way possible. Let’s schedule a call and determine if franchising is right for you.