There is a myriad of reasons people consider business ownership. Do any of these reasons ring a bell with you?
Variety. Flexibility. Scalability. Whether you are a seasoned V or C level senior executive that is tired of missing your kids growing up while you are accumulating frequent flyer miles, or whether you are a young entrepreneur with a new wife and baby seeking to make a better life out of the gate, there is a business that is the right match for you and will meet your needs and aspirations.
Frustration. Selfishness (in a good way). It is always interesting for us getting to know our clients on a very personal level. Seeing and understanding first hand the frustrations and under appreciation that drove them to take control of their own destiny and explore business ownership, finally realizing this great way to reach their dreams of financial independence and garner a better quality of life. Besides just those frustrations of working for someone else, many of our clients had preformed at a very high level, making the companies they worked endless hours for a lot of money. Selfishly, they now feel it's time for their efforts to make money for themselves instead of someone else who didn't appreciate them, and perhaps more importantly, didn't additionally compensate them for their exceptional performance. In retrospect, most would have appreciated coming to this conclusion much earlier in life, and many state they would have rather been the recipient of their own effort's rewards long ago. Selfish or logical ?
Independence. Security. We've worked with about every kind of client profile imaginable and although they are all very different in their desires and aspirations, they all share a commonality of sorts in the form of motivation for independence. Not the type of independence that alienates them from the norm, rather the type of independence that allows them to be secure in their own sustenance, never to rely on others for their livelihood or families well being again.
Corporate America is very different today than it was 20-30 years ago. People no longer "retire" from the same corporation that they started with and they no longer work for the same employer for 25 years. In fact, the average length of time an employee is with a company today is 2.5 - 3.5 years. Sadly, the big corporate climate is volatile and has evolved as the driver of this statistic, all in the name of lean economics, assuredly without remorse. Economic cutbacks. Corporate downsizing. Eliminations of entire departments. Outsourcing of positions. Mergers and acquisitions that introduce new cultures, bringing their own infrastructure with them and often replacing the entire current régime. All of these scenarios contribute to the thousands upon thousands of employees at all levels in large companies all across America and beyond, who's positions are terminated on almost a cyclical basis. This statistic forces employees to be on the new job search and changing positions on average every three years, riding the corporate rollercoaster of false temporary job security until next time, where it starts all over again.
This rollercoaster of frustration has changed the mindset of workers. Whether their position was eliminated or not, many no longer choose to stay with the same company long term. They do not stay because there are no longer the incentives to make the commitment of lifelong dedication worth while. Such things as pensions or companies financially being able to offer the retirement investment matching, as they did in the days of old, are long gone. Benefit packages, Golden Parachutes, and significant stock options, even pre IPO, are stories that only the bluer of hair remember. Employees feel that In todays world they are merely assets or possessions of the employer. Employers who are free to buy, sell, trade, or throw them away at any given juncture, as they should so see fit. This occurs regardless of the employee's contributions, achievements, performance, sacrifice, overtime, efforts, or any other blood poured out by the employee for the benefit of the company, they feel no reciprocal loyalty and perceive their job is at best temporary. They are only there for the wages and minor benefits and their next job will be the same. Most, if they leave, will do so for a higher wage, which is really all they are working for. Employers can no longer afford to offer employees a roadmap to achieve retirement, nor, obviously, are they obligated to do so.
But if these employees cannot achieve retirement through their employer any longer, how can they find a vehicle to prepare themselves for retirement?
Hence another motivation to become self employed. Even accomplished, senior, executive level employees often find themselves underequipped for retirement. Even after a lengthy and prolific career, they are holding assets that won't quite maintain the lifestyle they are accustomed to for the duration expected and social security won't generally compensate for the discrepancy. Furthermore, the doubt of social security existence in the future is a prominent and reasonable consideration amongst most.
Income. Appreciating asset. Wealth building. Retirement.
Most exploring business ownership seek income replacement and a conduit to build wealth for a better life. Some seek an additional retirement vehicle to supplement what they already have, while others still yet seek a legacy business to pass on to their children. But do you know what everyone that explores business ownership is really seeking? Ultimately, whether it's a 5 year, 10 year, 20 year or 30 year income plan, they really seek an exit strategy that matches their aspirations to retire. Even if that strategy is a legacy business and they plan to collect a monthly check from their children once the business is passed on. Owning a business provides you with an appreciating asset. An asset that you are free to sell when the time is right. An asset that provides income for your family while you own it and a chunk of cash for it's value when you sell it. An asset that is scalable and can be built to whatever level someone may desire. Replicating and diversifying your business holdings allows the owner a vehicle with which to build real wealth and replace what they would not be able to achieve in todays corporate world. Paychecks are not an appreciating asset, you cannot spend them and have them still gain in value at the same time. Most employees cannot afford to save the majority of each check and maintain living expenses simultaneously. They also realize that gaining meager interest in a 401k, IRA, CD, Savings account, etc. which by the way, does not launch dividends for you to live on while they gain interest, will not build the same wealth or come anywhere close to the asset value and annual appreciation of a thriving business. Therefore, without the old days of pensions, matching retirements, stock options, the average employee (even living well below their means and investing wisely) simply cannot prepare for retirement without also having a substantial appreciating asset that generates income to live on at the same time. Once all of this is rationalized, the options to achieve wealth and security narrow dramatically and business ownership becomes a very logical path.
How do I go about finding the right business for my skillsets that also meets my aspirations?
In the world of franchising today, there are nearly 4000 business concepts being marketed for prospective business ownership. Where in the world do you begin? Of these concepts which ones meet your aspirations and are right for you to consider? Which ones are solid companies? Which ones produce the income you seek? Which ones are growing and will continue to flourish well into the future? These and many, many, more questions create the daunting task of exploration that you could spend years attacking on your own or you could get the Advantage you need and work with an Advisor that can match your skillsets and needs with only concepts that align with you. Aligned by a proven matching system, from an inventory of the very best, top ranked, pre-vetted, financially solid, high growth, profit centric, concepts available today.
I'm very experienced in business but I've never owned my own and it's a bit intimidating. How do I learn to navigate everything I need to know and make sure I'm armed with all of the right resources I need to make a good decision and be successful?
Using Advantage Franchise Advisors will provide you with comfort and clarity at every step of your exploration. Not only in matching you with concepts that are aligned with your skillsets, personality, and aspirations, but also by mentoring, coaching, and connecting you with all of the appropriate collateral and resources at each juncture of your search. From understanding your goals, to making personal introductions to the top concepts available today and their executive teams, funding resources, legal and accounting resources, you will have access to experienced support at your side every step of the way. You will be working with the very best of the best within the industry. With our proven system and processes, our advisors can keep you from the pitfalls and mistakes that those venturing out in exploration on their own routinely make and save you hundreds of hours in time and research.
I think I could really benefit from using your system, services, and advice but how much will it cost?
Very little. In fact in many instances absolutely nothing. Personality trait testing and profiling, if needed, to generate your best business matches, would be the only expense you may incur. This is made possible by the Franchisors themselves. Franchisors spend a great deal of time and effort seeking out the right partners to be in business with. They seek only those whos skillsets align with their model and are interested in partnering only with those they can share mutual success with. Because they look to establish long standing business relationships, they are willing to pay for quality placements and compensate us for introducing quality franchise candidates. If and when you decide to move forward with one of the concepts that you explore, that franchise system will pay us for the placement, much like companies pay recruiters for procuring the right employees. It's that simple and this structure allows us to remain completely impartial because we are compensated equally by any organization you may choose to engage with. Most importantly, this also allows us to focus on and always serve solely in the best interests of our clients at every juncture. If you are interested in using our Advantage system in your exploration of business ownership, we would be pleased to work with you. Contact us now for a no obligation complimentary consultation.