Laid Off? Maybe It’s Time to Be Your Own Boss!
Have you been affected by recent mass layoffs? Or perhaps you are anxious that you may face a layoff sometime soon. If so, you are not alone. In one recent survey, 48% of respondents reported having layoff anxiety, and 28% have been laid off in the past two years.
As more and more companies look for ways to cut costs in the face of rising interest rates and inflation, more workers can expect to lose their jobs. If you are in the unenviable position of being one of the thousands of workers that have suddenly found themselves unemployed, don’t despair. While no one wants to be laid off, it can be an opportunity to consider making a meaningful career transition.
You Just Got Laid Off, Now What?
Before you begin your job search, now might be a great time to consider taking a new direction and becoming your own boss. This could be an opportunity to think outside the box and start a business for yourself rather than committing to work for someone else. Making the move from laid off employee to business owner may be right for you. One way to do that is to consider franchise ownership.
What is a Franchise?
According to the International Franchise Association, “a franchise (or franchising) is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system.”
Opening a franchise business does require up-front expenses. However, instead of starting your brand from scratch, a franchise comes with built in name recognition and a proven business system. There are many franchise opportunities out there, offering a variety of concepts in every market niche. There are brick-and-mortar retail businesses, home-based businesses, and B2B services, so you can go in any direction you desire.
What are the Benefits of Franchising?
There are several benefits to owning a franchise:
- Being your own boss. Owning a small business gives you autonomy and control. When you are the CEO of your own company, you will never be laid off again.
- Support and resources. Even though you are working for yourself, when you join a franchise network, you are never alone. Franchising gives you the support of a large business network with experience and tested systems to help you succeed.
- Training is provided. Training for success is part of the franchise process. The franchisor will give you the tools and training you need to get started, even if you don’t have experience in the industry!
Choosing the Right Franchise for You
After a layoff, finding a new job can be difficult. The idea of controlling your own destiny can be appealing. The key to success and job satisfaction is choosing the right franchise for you. Make sure to consider options beyond the most well-known franchises and find one that fits your skills and aligns with your values.
Also, it’s important to consider the overall culture and values of any franchise organization you consider joining. In addition, you should consider the day-to-day realities of the business and how it will fit into your overall goals and lifestyle. For example, if you need a flexible schedule and love to work from home, a brick-and-mortar retail franchise may not be a great fit for you.
To decide what kind of franchise is right for you, ask yourself these questions:
- Do you enjoy following an established system?
- Are you willing and able to to take on the role of a business owner?
- What are you passionate about? Does the franchise you are considering align with that passion?
- What are your personal goals? Can the franchise you are considering help you reach those goals?
- Do you have the management skills you need to run your own business? Will you need to improve your skill sets to be successful?
- Do you want to be a full time franchisee or a part-time franchisee? How many hours will you need to put in to get the business up and running?
Could Owning a Crestcom Franchise Be Right for You?
Do you want to be part of a growing and supportive network with a meaningful purpose? Are you passionate about helping people grow into stronger, more ethical leaders? Crestcom could be a great opportunity. Crestcom is a management training franchise for the professional executive who is looking for a change and wants to make a difference in people’s lives.
Crestcom franchise owners make an impact by changing lives, organizations and communities. They also set their own schedule and define their own goals. Meanwhile, Crestcom provides the proven processes, tools, software, products and support you need to find success.