The Many Perks to Owning a Franchise and Working For Yourself in 2021
The world is currently full of uncertainty, and you may be wondering where to go next. Many people are losing their jobs or have had their hours severely cut. If you are among these people, you are likely planning your next step towards a new or different job.
Reading through countless job listings can be tiring and discouraging. Job hunting can be frustrating no matter the year, so that it can seem impossible with all of the added obstacles in 2020. But you might want to ask yourself a question that many others have been asking themselves lately: Do you want to work for someone else again?
2020 is a year of change. There are many perks to working for yourself, especially amidst the current climate. If this is appealing to you, owning a franchise can be the solution you’re looking for.
Why It’s Worth It To Invest In A Franchise
While you cannot control the world around you, you can control the paths you take. If the course you want to take involves more independence, then owning a franchise can be the ideal solution for you. It allows you to be much more independent than the average worker.
While being independent is a huge plus, it can get overwhelming to do things on your own. Luckily, with running a franchise, you are never really alone. A lot of franchisors have guidelines to follow, like a map leading the way. You’ll have access to help and the support of your team. But aside from this, there are several other reasons why you should think of owning a franchise.
Stability In An Unstable World
The most important aspect of buying a franchise in 2021 is the stability it can bring. This stability can come in many different forms.
One of the hardest things about the start-up process for any business is creating a well-known identity. Whichever franchise you choose, you eliminate this worry. The bigger the franchise, the less you have to worry about getting the brand name established. A majority of franchisors have spent years building their brand and reputation, which means that you can walk into it feeling secure in knowing you already have a broad customer base.
For example, Loyalty Brands has First Choice under its umbrella with over 25 years under its belt. It is well-known in Las Vegas especially, with a solid reputation.
As a franchise owner, it is unlikely you will ever be thrown to the dogs. A negative factor with many jobs is a lack of training, leaving you frustrated and discouraged. Many franchisors provide thorough training to ensure you are comfortable in your position.
Keep in mind that not all franchisors are the same; however, different franchisors offer different support levels. If you already have experience in the field of the franchisor you are going to own, you might feel you need less assistance.
With a franchise, you have the security of a stable financial history. Because of this, it is much easier to get a bank loan compared to a non-franchisee. Banks are almost always more willing to lend to an established business with a proven financial history.
Many new business owners have trouble getting approved. In fact, this can be many people’s biggest roadblock. Without the necessary funds, it is near impossible to get a business up and going. A franchise is much more likely to be given a chance for a loan than a brand new small business.
If you are not savvy in the ways of marketing, there is no need to worry. Similarly to the first point on this list, franchisors typically handle their public image for you. However, you won’t be completely hands-off as you are likely to be expected to provide funding for advertising campaigns. But the franchise itself will take care of promotions online and off-line.
Additionally, your understanding of your community and customers can help boost your brand. Combining your expertise with the franchise’s marketing resources allows you to develop ad campaigns that target your customer base with precision.
Which Franchise is Best for You?
Variety is important and beneficial. If you already know what your niche is, great! But take care to research your franchises carefully. Some franchisors are smaller than others, but this can be a good thing. They tend to have smaller start-up costs and can be less pressure than owning a large franchise. A good example is Estrella Insurance, a smaller insurance-based franchise running for more than 40 years. It also offers low start-up costs, but not low quality.
From food to hotels, to businesses, it is important to look at what can be tailored to your needs. If religion is fundamental in your line of business, you can find a franchise like Shepherd’s Guide. This is a Christian-based franchise under Loyalty Brand’s umbrella, the largest of its kind globally.
Stability is what most people seek in 2020. With the risk of everything being swept out beneath your feet, it can feel impossible to know where to turn. That’s why it’s important to think in the long-term. When you own a franchise, you allow yourself the opportunity to be one step ahead in the next year.
Franchises are built on solid systems that are often years in the making. With clear guidelines to follow and goals to attain, owning a franchise in 2020 can give a clear sense of direction in an otherwise hazy future.
Loyalty Brands is dedicated to helping you with the perfect fit and has an umbrella of franchise businesses and services. These businesses range from focusing on business sales to insurance. They also provide services that focus on tax planning, advising, accounting, and money-saving plans.