When it comes to considering a future where you eventually become your own boss, one of the most overlooked aspects is the amount of personal time management awaiting you. It’s a fact, and we’ve got the calculations to prove it. Almost everyone who is interested in buying a franchise used to work for someone else. We chide and kid about Corporate America all the time on this blog, but it’s a fact that your blood, sweat, and tears are essentially poured out and sacrificed for your employer. Do you feel at times that you’re literally chained to your desk or cubicle?
Want to leave mid-morning to go run an errand? Clock out first. How about a post-lunch trip to the gym? Not until 5:00 p.m. Do you need to swing by the store to grab a few things for dinner? You can do that on the way home. Now do you know where all the time goes? We do. Your employer. But if and when you decide to choose entrepreneurism, you’re going to get that time back and make it work for you.
Once you do get a franchise operation up and running, we won’t sugar coat it. You’ll work hard and have many late nights. You may easily put in more than the 40 hours a week you were gifting Corporate America. But be patient. Better times are definitely on the horizon. For once you get your operation off the ground and into a smooth running machine, you’ll find a new found freedom you didn’t know existed. And it’s all because you’re the one calling the shots now. You’ve become your own boss.
When it comes to time management for owners of their own business, we often hear the “work-life” balance that franchising offers. This is a motivating factor in many a franchise sale because it’s true. In order to take full advantage of this fringe benefit, keep these five factors in mind for when you become a franchise owner:
- Set goals: You’ll have it spelled out what’s expected of you in a franchised operation. Meet your target objectives and set a course for achieving them, as dictated by your business plan.
- Create a plan: Get specific with how you’ll meet your stated goals and work your plan to make it happen. Review your efforts weekly, don’t get frustrated and stay the course.
- Focus on the payoff: If you have to work extra hard in the beginning stages, so be it. This is often the expectation industrywide. Trust us, there is a pot of gold at the end of the rainbow.
- Create efficiencies: Find ways to be more efficient with vendors, staffing, and processes. The time you save finding streamlined processes will one day be yours.
- Be prudent: Once the day comes to enjoy the time management you’ve created, savor it, but be prudent. Taking a mental health day to rejuvenate (because you can) is good. A three-week cruise the Bahamas may not be.
Your staff and employees will play a crucial role in your ability to truly enjoy a work-life balance you can be proud of. Be selective and a good judge of character, then pour your efforts into developing the best workforce you can, with trust as the underlying principle.
The Payoff is a great way to describe one of the best aspects of becoming an entrepreneur. Just don’t take the situation for granted. It’s a privilege to own and operate your own franchise and FranNet can help you begin your journey. And we’ll be happy to share the multitude of tales we’ve collected over the years from satisfied franchisees who now enjoy the true fruits of their labor. Will you be next?
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!