buy a franchise business

Why do people buy a franchise business?

The information age has made it easier than ever for people to learn what a franchise business is and how they can purchase their own. However, learning why people decide to go the franchise business route can still be hard to find, and this is an important piece to understand.

That’s not only because not everyone is right for franchising. It’s also because more people are right for franchise business ownership than they realize. As a franchise business consultant, I help people identify the franchise businesses that give them the best opportunity for success, but that’s not all. I also help them figure out why they want to be in a franchise business so I can make sure we find the right fit.

There are countless reasons why someone might decide to buy a franchise business. Here are some of the most popular ones.

They want to take charge of their lives. There is a reason so many franchise owners are people who have spent decades working in Corporate America. After years of making money for somebody else they are ready to start reaping the rewards by doing their own thing. They believe in themselves and their ability to lead a business into prosperity and are ready to do something about it. These are often people who have spent time in leadership positions or are highly self-motivated to get things done. The time has come for them to control their professional destiny.

They want a lifestyle design that the standard 40-hour workweek won’t achieve. That’s not only because the 40-hour workweek continues to creep into early mornings and late evenings. It’s because their personal lives are changing, and the work schedule no longer allows them the freedom to tend to their families and friends as they wish. Sometimes it’s because they are sick of traveling and want to be home more. Some want to be able to have breakfast with their children in the morning, be home for dinner at night or to never miss another Little League game. That’s not to say franchise owners don’t work plenty, because they do. However, they’re the person in charge, so they get to choose the hours. 

They have a professional dream. Nothing is more frustrating to high achievers than hitting a glass ceiling at work. Knowing you have the ability to do more, to BE more than what your current job allows is a key motivation for people to buy a franchise business. That’s because, in franchising, there are no limits. No limits to what you can earn, no limits to how big your business can be. Franchise owners can own single units or multiple units. They can develop those multiple units through a single franchise system or decide to open franchise businesses from multiple brands. With more than 3,000 franchise brands available, there are opportunities to build a franchise empire in countless ways.

They want to build a legacy. Family is a major driver for people making the choice to open a franchise business. The opportunity to establish something that can be passed on through generations is incredibly appealing for people who want to build something meaningful with the people they love. Siblings open franchise businesses together because they’ve been best friends their whole lives and are ready to turn that relationship into a meaningful business. Husbands and wives open franchise businesses utilizing the best of each other’s skill sets, plus years of experience in marriage on how to best relate to each other. Parents open franchise businesses to employ their children, envisioning a day when their kids will take over the business operation as it funds the parents’ retirement.

All of these reasons, plus this BIG reason. People will choose to buy a franchise business for many different reasons, but they will universally have one thing in common: they don’t want to go it alone. Franchise businesses provide the security of a proven model of success and an unparalleled support system. They’ve learned what it takes to succeed, and they provide that information to their franchise owners. They offer support in all aspects of the business while allowing their owners to make plenty of their own decisions with the business at the local level. Franchise business owners experience the freedom of being in business for themselves, but they don’t have to do it by themselves.

Why do you want to buy a franchise business? Whether you already know or would like help figuring it out, I’d love to hear from you. There is never a cost to you for my services, so give me a call at 919.846.7111, email me at jjudy@franchoice.com, or schedule a consultation by clicking the button below.

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