In contrast, starting a business can be a lot of fun. This gives you a sense of ownership, and you’ll feel more powerful. Because you don’t have a boss to answer to, you’ll feel more in control. It’s possible, however, that you will not feel safe. Certainly not in the start. There is a period before your investment pays for itself and you start making money.

Is A Job Or A Franchise Better?

So, if you find yourself in a position where you need to find a new job, should you look for a traditional position or invest in a franchise?

Going The Job Route

To begin, let’s look at what brought you to this point. A job search can be motivated by many different factors. Let’s see if you can put yourself in their shoes and identify with them.

• You’ve reached a point where it’s no longer satisfying in your current job.
• You have achieved what you believe to be the pinnacle of success at your current place of employment.
• You’ve been changing positions a lot.

 
If you’ve lost your job and the prospect of starting up a new search for work doesn’t excite you, you could benefit from a franchise.

Going The Franchise Route

Start by noting that starting a business is not like starting a new job; it’s much more complicated. How significant is this difference? The cash. Specifically, the initial investment is necessary for ownership of a franchise business. In most cases, a loan for a small business is also required.

As a franchisee, don’t overlook the additional costs you’ll incur—an expenditure of effort. This is because, depending on your level of in-depth research, selecting and exploring franchise opportunities could take anywhere from 2-3 months.

Finding a location, building your store, and opening your business could take several months, depending on the kind of business you select.

You can immediately begin working on your new project after accepting a new job offer. This is true even if you’ve previously spent time researching the company and interviewing with them. You’ve been hired, so now you’re here.

You Can Do Both

In addition to looking for new employment, some individuals are looking into franchise ownership opportunities. It can be challenging though not for the reasons you might think. When you’re in the middle of a job search and looking into franchise opportunities, your mind can get jumbled up.

On the other hand, looking at franchises can be exciting if you’ve had enough of the corporate world or employment in general. One of the most effective visualizations is picturing yourself as your own successful business owner.

In contrast, risking your hard-earned cash on something you’ve never done before and for which there are no guarantees can be frightening. In the end, you’re used to regular paychecks and predictable work schedules. However, you’re still interested in franchises.

It’s not unheard of for someone to find a franchise or two they like and then suddenly get a generous offer of employment from a company they interviewed with months ago. What are your options at this point?

In the end, whether or not you find the right franchise or do an excellent job researching it, you don’t have to go through with it. A job offer is the same way. Accepting it is not required. It’s up to you.

Finally, it’s up to you whether or not you want to look for a new job or a franchise to invest in. Both have their advantages and disadvantages, as you can see. There’s a lot to consider. If you want more franchising information, contact the experts at The Franchise Institute. You can call us on 1300 855 435 or fill in this contact form, and one of our experts will contact you as soon as possible to answer all your questions.

 
Thanks for reading,
The Franchise Institute Team
1300 855 435

The post SHOULD YOU TAKE THE FRANCHISING OR JOB ROUTE? appeared first on Franchise Insitute.

#1 Aim to Achieve Greater Clarity in Your Franchise

Having a goal of “success” or “growth” is a trap that many fall into. Even though there isn’t anything wrong with having these goals set, they lack direction and depth. Having these elements is crucial to keep your franchise on track. But rather than just setting goals, resolve to achieve better clarity this year.

Focusing on growth can result in an increase in revenues, clients or profits. Each of them require a specific approach. Define what success means to you and your company if that’s what your goal is. It can either be success in having a higher revenue or could be your reputation in the community. Defining these words and focusing on each of these specifics can turn your goals into reality.

#2 Resolve to Improve Professionally & Personally

Many franchise owners are so caught up in their work that they neglect professional and personal growth. You may have a lot of things on your plate in your new journey, but that cannot come in the way of learning, maintaining focus on improvement or trying new things.

Putting in extra effort to try and accomplish these things will ensure that you find success. Have a clear vision of what improvement looks like for you and aim to achieve that. For example, it might include reading a new book each month or attending a webinar. Do not neglect growth no matter how it looks.

#3 Resolve To Network

Many franchise owners are so caught up in work that they forget to network quite often. Resolve to get more active and engage in your community. When you meet new people the chances of new doors opening for your franchise increase.

#4 Resolve To Collaborate

Resolve to act on newfound business relations in addition to networking and start collaborating. Partnerships can increase your franchise’s success, but they do take a considerable amount of effort. You will have a much more intentional approach to form new relations by resolving to collaborate. In turn, this will help push your business growth forward.

#5 Resolve to Get Organized

Clarity, success, growth or partnerships take a lot of effort and dont happen easily; being organized is important. Resolve to set up systems for your franchise. Keep your back office organized, this ensures you will have a solid foundation to properly guide your business through the year.

While making resolutions is something that can come easily, following up on them doesn’t. Like many other things, it takes resolve and perseverance to see some things through. It’s a good idea to keep a close friend or mentor in the loop about the resolutions you have made.

It’s a great way to have someone to support you and keep you on track in case you lose sight of your objectives. Running a business is always about being consistent and making sure that you are focused in everything you do. This holds true in the case of any resolutions you make for 2019 too.

If you want to know more about franchising, feel free to get in touch with us at The Franchise Institute. You can call us on 1300 855 435 or fill in this contact us form and we’ll reply as soon as we can.

Thanks for reading,
The Franchise Institute Team
1300 855 435

The post New Year Resolutions for Franchisees appeared first on Franchise Insitute.

Your car broke down. You were late for work. Your girlfriend broke up with you. Your small business franchise didn’t work out.

Bad situations happen to us all. Whether we are rich or poor, beautiful or plain, ordinary folk or celebrities, we all have bad periods. Anybody can feel good about life and themselves when they are experiencing success. However, the measure of a person is how they respond when the chips are down. As Martin Luther King Jr wrote:

“The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.”

Resilience is our ability to ‘bounce back’ after encountering problems and is an essential trait. Inevitably, life will throw up some apparently adverse situations, and being able to deal with such circumstances in a positive and creative way is often a measure of how happy and successful we will be.

Studies have shown that resilient people show lower levels of depression and are more likely to ‘grow’ from adversity. Like the saying goes, ‘what doesn’t kill you makes you stronger’.

If you’ve had a bad day or are having a few consecutive ‘bad days’, try these 7 tips to help you bounce back.

1. Attitude of gratitude. No matter how bad your day is, there are many other people suffering much more than you. Spare a minute to think about the people who don’t have freedom, who live in extreme poverty or people who live in war torn countries. Perhaps your ‘bad day’ is not quite as bad as it first appeared.

2. Focus on building and maintaining relationships. Studies have shown that resilient people tend to have strong social networks – family, friends and colleagues are a great source of support when crises occur.

3. A temporary set-back. Are you a ‘glass half full’ or a ‘glass half empty’ kind of person?  Resilient people tend to see stressful events or crises as temporary or even as opportunities to learn and grow, rather than as unbearable, irreversible problems.

4. Take Action. Nothing puts you back on track faster than taking action. It’s easy and tempting to sit back and wallow in self-pity. Unfortunately however, self-pity is a totally useless emotion. Be proactive instead. Take one step, even if it’s small on the road to recovery. By exerting some control over the situation you will begin to regain confidence and belief in your future.

5. A bird’s eye view. When seen from a bird’s eye perspective, problems tend to become less important. Take a long-term view and keep in mind a broader context.

6. Be optimistic. Resilient people maintain a hopeful outlook, expecting positive outcomes.

7. Keep learning. Resilient people are determined to learn useful lessons from setbacks and problems. Looking back, we might realize that we learned the most from what seemed to be the most difficult of circumstances.

As an experienced franchise consultant, we’ve heard dozens of stories of missed and failed franchise opportunities. We know how devastating it can be for business owners, but we also know that it doesn’t have to end there. Businesses and even individuals can be successful in starting a franchise, along with many other goals, if they just put their mind to it.

Resilience is very often the factor which leads some people to overcome immense obstacles to become successful. Look at many well-known, successful and wealthy people with humble or even deprived beginnings and you will see resilience in action. Take steps to develop resilience in your own life – it will serve you well.

The post Having a Bad Day appeared first on Franchise Insitute.