Owning your business is a big deal. Wouldn’t you like to have some insight as to what your life will look like once you become a franchisee?
Keep in mind that everyone’s daily activities will not look the same. There are also two types of ownership: semi-absentee and full time. With semi-absentee ownership, you will most likely only work 10-15 hours per week, whereas, with full-time ownership, you will work 40 hours per week, if not more.
We’re here to share what your life might look like as a full-time franchisee. You might be a bit hesitant to commit to a 40+ hour workweek, but don’t forget this is a rewarding career that is well worth your time!
We’re going to skip over the whole process of getting into business; if you are interested in learning more, you can find more information in our recent blog posts.
Your grand opening will be the most exciting and perhaps the busiest time of your franchise ownership. You and your employees will probably be running around like crazy people trying to attend to customers while still learning the ropes. While it might seem hectic, take it all in and enjoy it!
The first few days will be challenging because you are not too sure what you are doing. We are not saying you won’t get the proper training (you will!), but there really is no way to prepare to be your own boss other than to jump into it and experience it for yourself.
Don’t get discouraged, though. Those tough days will begin to flow, and before you know it, you’ve got the swing of things, and you will feel confident in what you are doing. Not only will you get a feel for how things work, but your employees will too. The days will be long but don’t forget- you are finally your own boss. What you put in is what you will get out.
One Year Later
After a year, you should have a routine down and a strong team of employees. You are still working long days, maybe even up to 14 hours a day. But the good news is by this time; you should notice you’re breaking even or close to it, which means you are not too far away from profitability!
If things have been going well and you are enjoying what you are doing, it’s time to look for another location so you can have two businesses. The thought of going through the process all over again might seem overwhelming, but we can assure you the second time around, things are much easier.
Five Years Later
Whether you have one location or three, you’ve got the swing of things, and you finally see profitability. Your employees know what they are doing, and they are capable of training other employees. Once you have a strong team you can rely on, and you are beginning to see positive cash flow, you can begin to work less and enjoy your time!
Hundred Acre Consulting- There For You Every Step of The Way
We won’t beat around the bush; being a franchisee is tough work. When the going gets tough, we want you to know you are never alone. You will get the right training, but at some point, you will face challenges that were not mentioned in your training. At that point, you will wish you had an owner’s manual.
Hundred Acre Consulting is the owner’s manual. When you need guidance, we’re here every step of the way, whether you’re one day into your franchise ownership or five years down the road.
Want to learn more about what to expect as a franchisee? Contact our team to learn more!