9 reasons to quit your job and take up franchising
When you think of quitting your job and taking up franchising, this surely calls for a lot of valour. This not just requires lot of planning but also a ready mind. Many aspiring entrepreneurs take this risk and quit their jobs. We tell you why you should take up franchising and leave your jobs with prior preparation to transform yourself into a business tycoon
Jobs come and go
You should always remember that if you have the talent, jobs can come and go but you have only one life to start your dream business and see it growing not just nationally but overseas too.
You are done with a lot of planning
If it’s been years that you are thinking about a particular sector and getting into it with your own brand and still unable to do it, now is the time. You should stop thinking now and go ahead with it. This can only happen when you give your 100% for your dream business. Quitting job here is the right move to make.
Ready for success
When you buy any brand’s franchise rights, you are buying an established concept that has proven to be successful in other locations. All you have to do is work hard for your location and area. When you are success ready, go ahead and opt for this classic business model. Speaking on the same, Sohrab Sitaram, CEO and Director of Keventers says: ‘My first job was with Taj Group of Hotels for 6-7 years and then after a lot of learning I quit and started my business in 2000. I put in a lot of effort and travelled a lot before starting with business. Nobody knows if they have entrepreneur blood or not. So, one has to figure out if he is made for entrepreneurship or not. It requires a different mindset, a mindset that does not fear about losing money. In entrepreneurship, there is no break. You will also need to work round the clock at times. One must also have an experience of working somewhere because that teaches you a lot. It is always good to gain some experience first before jumping into entrepreneurship.’
Easy bank loans
When you opt for franchising, you can get numerous banks that are ready to give you loans. So, finances will never be an issue in franchise model. When you associate with an established brand in the market, even banks give their full support and offer great finance schemes for budding entrepreneurs too. So, plan to quit your job and go for franchising.
Lot of support
A great brand will always offer you complete support right from day one. They not only guide you on how to run a business but also keep a check on your processes since beginning till you get the breakeven. Quitting a job and getting benfits of this support will be the right move. Nowadays, all small and big brands have operation manual and also pamphlets that explain their business type. This will make you run the business efficiently and get brilliant results in less time.
Team for support
While in job, it’s only you who is responsible for your work. But in the business, the franchisor is always there to support you in every step. Also, when you hire an efficient team under you, the franchising model gets more interesting and involving. You can choose to hire trained staff and qualified people who have the knack to work under a franchise model.
You already have a plan
When in a job; you don’t know the next move till advised by your boss. But in a franchise business, you are the boss. You already know what the next steps to be taken are. You have an execution plan ready. You know almost all about the market and competitors. Before you quit your job, you know all of these so, moving towards entrepreneurship should be your way forward.
When you start a franchise, you know that now it’s you who is the decision maker as far as your territory is concerned. So, get ready to enjoy this freedom. If your first franchise store is successful, then you can expand to bigger regions as well.
When in job, you might not have been able to complete your marketing targets but when you take up a franchise business, most of the marketing support is provided by the franchisor to you. This becomes more hassle free. Even when its local marketing, you can choose to guide the franchisor on how you wish to advertise in your territories.