Many people that have 9-5 jobs dream of starting their own venture and becoming their own boss; and franchising seem like a very conducive option to them. While it’s true that franchising is a low risk and low-investment proposition compared to many other business options, it has its downsides as well.
Just like any other business, it demands your full attention and you may find yourself strapped for time and unable to maintain a healthy work-life balance. For many, this defeats the purpose of starting on a business venture. If you have a family and want to maintain a better work-life balance, here are a few tips that can help:
Franchising is an excellent business opportunity that gives you the flexibility to do the things you like such as spending quality time with your family. However, in order to makes sure this flexibility happens; you need to be extremely disciplined. Make it a point to plan ahead to take time off or head out on holidays, and then stick to the plan.
This is the only way you would be able to enjoy the benefits of having a flexible work schedule. Many people find that when they are at a 9-5 job, they end-up missing sporting, award and other school events for their kids. But you can do all these things and more simply by being more disciplined.
Many businesses tout the fact that their franchisees are able to easily maintain a work-life balance; however, the best way to check whether that is the case, is to discuss this with other franchisees in that network. Do they have families? and how easy is it for them to maintain a work-life balance? If the network has a strong sense of community, it becomes easier for you to get advice, find a mentor, learn the ropes and more; this is why it’s important to research this aspect when you are looking at different franchise networks.
While there are numerous benefits to owning a franchise, one of the most noticeable benefits is that it gives you the opportunity to bring your family into the business as well. If that is what you want, look for a family-friendly franchise network that will suit your circumstances and needs in the long run.
The business should provide you and your family a safe environment; and if you want it, should also give you the opportunity for your grown-up kids to gain a certain amount of practical work experience. This is one of the best ways to teach them how important it is to show responsibility and initiative in a professional work environment. If they too show an interest in working in a retail environment, working at your franchise gives them a solid foundation to base their career on.
Franchising can truly be a great way to bring some semblance of sanity into your life especially if you have been working extensive hours and burning the night oil in a corporate setup. But in order for that to happen, you need to conduct a certain amount of research and choose a franchise network that will offer you the chance to maintain a good work-life balance.
If you want to know anything more about setting up a franchise business or want some sound and professional advice, call The Franchise Institute 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