Most folks have one of these three reasons for wanting to own a business:
Why do you want to be a business owner?
Escape Corporate America
As a first time business owner your main goal is to become a full time business owner and escape corporate America for good. For most in this situation, corporate America has been fruitful for them, but it’s not giving them everything they want, or the headaches make them want to strike out on their own.
Side Gig
First time business owner or not, many times folks in this group also want to escape corporate America, but they want to start by getting a business running and producing net income before they take the leap and quit their corporate job. Some folks in this group are very happy with their corporate career, and want to use a franchise business as a method to create an additional revenue stream.
Add an Additional Business
You currently own a business and want to add to your portfolio or you’ve owned a business in the past and want to be a business owner again.
Business Ownership
Advantages
Business ownership, like anything, has its pluses and minuses. We’re convinced the pluses far and away outnumber the minuses.
Imagine PTO Whenever You Want It
If you poll any group of business owners, time freedom is almost always the number one advantage of being a business owner they will cite. Imagine having unlimited PTO. You don’t necessarily have more free time than those who earn their living on a W2. You may even have less free time, but you’ll definitely have more time freedom. As a business owner, you control when you work on a daily, weekly, and yearly basis.
If you need or want time off with the kids or grandkids, you don’t ask anyone for permission. You make it happen. If you want a few days off to recharge, again, you just make it happen. With freedom comes responsibility. You must have self-discipline and put in the time and effort to make your business flourish.. But you’ve already proven to yourself you have that self-discipline.
Imagine Controlling Your Income
Most people list financial success as a reason for wanting to be a business owner. Your financial success will be a product of your energy, business acumen, street smarts, likeability, leadership, positive traits necessary to your specific business, and to a limited extent, luck. Most people who have a desire to be a business owner will find more financial opportunity working for themselves than in the employ of others.
Imagine Creating Your Ideal Company Culture
Controlling the culture of their business is another commonly cited advantage of business ownership. What’s important to you?
- Taking exceptional care of customers?
- Taking exceptional care of employees?
- A hard focus on the bottom line?
Whatever is important to you becomes the ethos of your business. You control the focus of the business as well as the employees who maintain that focus.
Imagine Succeeding to Your Potential and Being Recognized for Your Success
If you’ve ever worked in an environment where a bad boss’ opinion of you limited your pay or upward mobility or starved you of recognition for your successes, you’ll appreciate always ultimately getting what’s coming to you as a business owner. It may be in the form of money. It may be praise or recognition in other forms. One of the often overlooked advantages of franchise ownership over non-franchise ownership is having other franchisees to compete with, so in addition to the money that comes with being a top 10 percenter in your franchise, you’re recognized by your peers for that accomplishment.
Imagine Greater Connection to Your Local Community and the Opportunity to Give Back
In most franchise businesses you’ll be closely connected to your local community. As a business owner you can naturally give back to your community by providing jobs and contributing to the local economy. By creating a successful business, you can make a positive impact on the lives of your employees, customers, and community members.
Your philanthropic efforts will benefit both your community and your business interests.
