In last week’s blog, Need to diversify? Think Franchising! we talked about how franchising can help diversify your nest egg, and how franchises have the ability to survive – and often thrive – during periods of inflation. This week, we will explore why franchising can help build your wealth today, in the future, and become one of your biggest investment assets.
You may have played around with the idea of becoming your own boss, but have heard the horror stories that more than 50% of new businesses don’t make it past the first year. But with everything that has happened over these last 18 months, maybe it’s time to finally pursue the idea or – at least start researching – franchise opportunities, and finally start the process of becoming your own boss.
During the start and height of the pandemic we watched companies cut back on their services, decrease their hours of operations, and lay-off employees. Today, as the world begins to regain its footing, businesses are focused on getting back to normal while redefining themselves, readjusting their business model, and desperately seeking to find and hire skilled workers, of which there are none to be found.
It’s like the workforce has entered of The Twilight Zone!
If you worked for an organization that experienced any of this, our hope is that you were able to keep your job, and maintain your lifestyle. If your job doesn’t look anything like its original version you may be left feeling frustrated. Grateful, but frustrated.
What if there was a path you could take that would offer you ownership and accountability, and something that benefits YOU?
Think about it this way:
If you work for an organization your hours of labor earn you a paycheck. Sometimes your 40-hour paycheck translates to 60 hours of sweat equity, which means that you aren’t being compensated for 20 hours of labor or 30%+ of your time and energy. By becoming a franchisee, 100% of your time and labor is allowing you the ability to earn and build your wealth.
Think of it like this: Everything “extra” you do for you and your business is profit that helps to increase and build your basket of assets.
Doesn’t it make sense to work towards your wealth and not someone else?
If you’re ready to focus on you and building your wealth in a manner that doesn’t rely on someone or something else, it’s time to consider entering the franchise business world.