Looking for a new adventure? You might not have considered franchising as a career change before, but we think you should. In this article, we provide four ways that you can reinvent yourself and your future.
Has the COVID-19 crisis resulted in you looking for a new job? Or maybe you’ve always fancied yourself as a business owner but never had the opportunity to take the next step? The great news is the majority of people have transferrable skills that are fantastic for franchising. So, no matter who you are or what your reasons are for seeking new employment, you should consider franchising as a career change.
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There are so many advantages to the franchise model. One of the most attractive is that it’s a less risky way to change careers. It can be intimidating to start a business from scratch, especially in the current economic climate. However, when you invest in a franchise, you get the backing and support of a franchisor with years of experience in the industry that is on hand to help whenever you need. Many franchises are considered to be recession-proof too.
4 fool-proof ways to reinvent yourself and your future
Use these strategies to rebrand and find a new angle for your career.
1. Have the right mindset
If you’ve been made redundant or are generally not in the best place mentally, it might be hard to motivate yourself and seriously consider franchising as a career change. To help you overcome this, we recommend that you start questioning your negative thoughts. You need to try and stop thoughts like ‘I’m not good enough’ entering your mind. If they do, start questioning them and remind yourself of everything you have already accomplished.
It’s also good to remember that failure is a part of life. Even the most successful individuals have faced failure at some point. The key is accepting it and looking for ways to welcome positivity in your life. Expect the good things. Franchising enables you to follow your dreams while being supported by a team of experts. So, if you still have a lack of confidence in some areas you can be reassured by your franchise network. If you choose the right franchise opportunity and work hard, there’s no reason why you can’t be a confident business owner.
2. Identify your skill set
As we mentioned earlier, there are many transferrable skills that can make you thrive as a franchise unit owner. So whether you’ve never been a business owner before, or are looking to enter a completely different industry, it’s more than likely that you will have at least one current skill that you can harness. But the great thing about franchising is that you will also learn countless new skills that will help you become a successful business owner.
When you don’t come from an experience-heavy background, it’s more important that you demonstrate your drive, determination and resilience to the franchisor.
3. Ask yourself the right questions
In order to be on the road to reinventing yourself and your future, you need to ask yourself the right questions. You’ll want to answer these questions because now is the ideal time for you to reflect on what you want out of life. The working world is changing rapidly, so if you are to advance or change your career, you need to be ready.
These might include:
- What are my biggest strengths?
- What do I want to achieve?
- What makes me happy?
- Where can I see myself in one, five, ten years time?
- Why am I leaving my current position?
- What do/can I do that a robot can’t?
- What did I like and not like about my current and any previous roles?
- What am I grateful for?
- Have I researched the industry enough?
- What is my ‘why’?
See another one of our articles about knowing your ‘why’ and how you can build a business with a purpose.
4. Find the right opportunity for you
If you’re going to welcome franchising as a career change, you will, of course, need to research potential industries and franchise opportunities. To help you choose the right franchise, we have made a due diligence checklist that you can work your way through.
- Check that you’re financially able. The majority of franchise brands will ask that you have a certain amount of fixed capital to cover the equipment, supplies etc. However, franchising can actually be a very affordable way to become your own boss. Lenders tend to agree to provide loans for franchise businesses as they are widely considered to be less risky than independent start-ups. Also, there is an abundance of low-cost franchise opportunities that require a small investment but have the potential to earn big.
- Make sure that you have a thorough understating of the market. You can do this by looking at the British Franchise Association (bfa) website, attending virtual/in person franchise exhibitions and signing up to industry newsletters.
- Interview the franchisor. You need to treat this like it’s the most important decision of your life, and for many of you, it just might well be. The best franchises are led by franchisors that have a strong vision, integrity and a genuine care for the individuals in their franchise network.
- Spend time with franchisees. One of the best ways to understand what running a certain franchise would be like is spending time with current franchisees. Approach them and ask if you can shadow them. As well as being a good way to discover whether being a business owner is right for you, it can also provide some understanding of that particular franchise too.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
Consider franchising as a career change
If you’re unhappy with your current working situation, it’s worth considering franchising as a career change before jumping straight back on the job hunt.
At Point Franchise we have over 230 franchises from 168 sectors in our UK franchise directory, why not have a browse today?
Becky Martin, Point Franchise ©