By Brian Miller
In earlier times, a career tended to involve spending decades working with the same company. Hard work and corporate loyalty were often enough to ensure a solid career and a comfortable pension, with no reason to worry about job security—and little motivation to worry about job satisfaction. Today, however, economic conditions have given way to mergers, acquisitions, downsizing, outsourcing and other threats of impending layoffs. These factors have forced many businesspeople to make a difficult decision: should they stay on the same career path or branch out on their own?
Your decision in this regard will depend on your answers to the following questions:
- How would you describe your current career?
- Five years from now, if you stay on your present career path, what do you see happening?
- If you were to change careers, what are your biggest concerns about the outcome?
- What would you like more of in your life?
- If you knew you could not fail, what career would you choose?
The answers will help you begin to the lay the foundation for your vision as it relates to both short- and long-term goals. It does not matter what age you are; it is never too late to change those goals and then to alter your game plan to ensure you reach them.
In the new economy, individuals are increasingly choosing to build a future for themselves and their families through entrepreneurship. By becoming self-sufficient, they seek to ride the wave of economic recovery. Owning a franchise is a way to take hold of their professional and financial future.
The appeal of franchising
IHS Global Insight, which provides financial analysis, forecasting and market intelligence for more than 200 countries, recently prepared a report for the International Franchise Association (IFA) that cited a total of 735,571 franchise establishments in 2011. The report had a strong and positive outlook for growth in 2012, as franchising continues to attract individuals from all walks of life who are ready to “fire their boss and hire themselves.”
They have come to realize, unlike those earlier times, they do not have to rely on an employer to determine their success and worth. Their dreams—and the path to achieve them—are completely in their own hands.
Also, for the many budding entrepreneurs who feel they do not have the necessary knowledge or experience to start a new business entirely on their own, franchising offers a comprehensive blueprint for success. Indeed, franchising can be a lucrative vehicle to entrepreneurship because it combines many of the benefits of business ownership with an experienced franchisor’s well-established brand, proven operating system and ongoing support.