SACKING THE BOSS: OPPORTUNITIES FOR WHITE-COLLAR WORKERS
Tired of the daily grind and the office politics? Franchising offers a wealth of opportunities for experienced managers. Here are eight good reasons why.
1. Many managers are specialists and don't believe they have the idea or the knowledge required to be successful running a whole business. But most franchises say 'no experience required' - if you have the aptitude and the personality, they can train you to do the rest. And, very importantly, they'll provide the systems to follow and the back-up to help you make a go of it.
You needn't just be what your job title says you are - you can be whatever you choose to be. One person might choose travel, another might choose exhaust repair as their favoured industry. It doesn't matter what the business is as long as you enjoy it - the key thing is that it is a route to being your own boss.
2. Franchising offers an immense freedom of lifestyle. You can choose whether you work indoors or outdoors, in office or shop, from home or from premises, alone or with your spouse - you can work where and how you want. Franchises can be hands-on (where you do the work yourself) or hands-off (where you work through staff to achieve your goals).
3. Franchising offers you the chance to take your existing skills and put them to use in a new way for your own benefit.
4. The transition from employment to self-employment is made easier by the fact that you are still part of a group. You can still share ideas and seek opinions with other skilled people.
5. Most managers will have built up some sort of assets that they can borrow against to finance their business. This gives them the ability to select from a wide range of opportunities. A lot of the franchises in the $100-250,000 range will be of particular interest. These are usually businesses which employ staff, and offer the skilled manager considerable potential for building a really worthwhile business of their own. It should go without saying that the return possible is usually (but not always) in proportion to the level of investment required.
6. A franchise can be part-time or full-time. Many managers start off buying a franchise which their partner operates until the business has grown enough (or the couple feel comfortable enough) for them to leave and work in the business themselves.
7. Franchising offers potential for growth. Skilled managers can operate multiple outlets and even build small chains of their own within many franchise systems (McDonald's, for example, has several franchisees with three or more stores). This can offer considerable rewards.
8. Master franchises are also particularly suited for experienced managers. Regional master franchises are common in franchise systems with a large number of franchisees such as home services or courier franchises. The regional master franchisee is usually required to manage the marketing, training development and logistics of the franchisees on a local basis - a role which requires considerable management and leadership skills. National master franchises are also available for overseas companies wishing to expand their systems into the NZ market in conjunction with a local person or company. Master franchises are often a longer-term proposition involving a larger investment, but the return is commensurately greater.
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