Have you found yourself with a career crossroads and impasse? Maybe you’re not certain what you want to do. Maybe it could come by finding franchise freedom. A few months back we had the Franchise Guide, Giuseppe Grammatico, on the show. He’s the author of the book “Franchise Freedom” which you can get a copy of at his website. It’s a beautiful, concise, and easy read work that can serve not only as a guide and primer if you are considering a franchise as your next career move but just might change your idea of what a franchise is and can be.
If you’re like so many corporate types (no offense I was one for nearly 30 years). Odds are you really don’t have a true grasp on all the opportunities that franchises possess and can hold. Franchising can literally be any business you can imagine. It’s not just the fast-food restaurant you see on the corner or the tanning salon or beauty store. Certainly, those are examples but as the book points out there are over 2,400 options in the United States ranging from services to sales to coaching, and everything in between. And yes, of course, there are food options.
Designing Your Own Escape Hatch
One of the things covered in franchise freedom is deciding and then “designing your own escape hatch”. Offering the chance to escape your unfulfilling corporate career. Economic realities being what they are. So many people are looking at their futures, their quality of life, and all the impacts that the pandemic has had on them the past year.
Some people have left their corporate careers by choice, others by force, and increasingly as I talked to folks, it’s getting harder and harder for them to re-enter. With a growing number of coaches and consultants is an option. Franchising is another many execs may be overlooking. Alluded to in the opening, a franchise is so much more than most of us perceive. It’s an opportunity for people to step into a proven business system and assigned territory, market, or markets. It gives you the opportunity to learn and start operating a proven system and in many cases, a turnkey business.
We talked about it being a proven successful business model. Franchising is not for everyone. Business ownership is not for anyone. But for those that it is a fit for, it gives them a greater chance of success. Many people in the corporate world once their outside of the structures that they know, built, lived with, and succeeded with often struggle to redefine themselves. Leaving the mothership can be hard. Many look to rebuild those same structures in other businesses or in their own business. Certainly, not all people fall into this. But for people that are good at executing against plans, innovating, and being aggressive beyond that franchising could be a good fit. A plan, objective, and desired outcome.
Where to begin your franchise search with so many overwhelming choices. franchising, really. Let’s set it to quote the book directly. Remember that ultimately, a business is simply a vehicle that helps you attain the freedom you’re looking for. So if you settled on a franchise, the next thing you have to do is begin the search. Beyond the book, Giuseppe is there to guide you through it. The book is a great primer but reasonable advice says you still should seek expert counsel to learn more, get unbiased advice, and help you narrow down and pick the right one.
This includes narrowing down the type and style of business. and you should talk about and consider with your partner, your life partner or others, what you’re really looking for and he goes into great detail. Are you looking for a home-based or retail-based business? Are you looking to be an owner-operator or semi-absentee owner? And what types of employees will you have and have to manage? Another thing you have to consider is your location. The level of financial investment, of course, the hours and hours being a big consideration because remember, many businesses are not nine to five Monday through Friday. Some are 24 seven in sales. Do you want to be sales heavy and sales-focused?
Or do you prefer that sales be driven towards you? And finally your motivation. He recommends what’s familiar to most of us in a corporate world, a SWOT analysis. If sales are your strength or sales are your weakness that does need to be considered. You need to know that that’s the opportunity. The threat could be the physical locations, and he goes on to detail that and then selecting franchise companies to contact. It’s an evolutionary step. Giuseppe personally guides his clients through that. But this book is a helpful primer. The final point in the final chapters is why you should use a franchise consultant. franchise consultants are very much like any other specialized professional. You wouldn’t go to your accountant for operational advice, you wouldn’t go to a tax accountant for r&d, and you shouldn’t be buying a franchise without professional guidance that includes your own accountants, lawyers. And in this case, a franchise guide if you’re interested in. If you’re interested in franchising, the benefits it can offer, visit GG the franchise guide.com you can get a copy of this book. You can schedule a call directly with Giuseppe and linked below, or the episodes and show notes from when he appeared.