It’s safe to assume every working adult is concerned about their job security. As of September 2019, the US unemployment rate hit 3.5 percent, according to the Bureau of Labor Statistics. Underemployment, where workers hold jobs that under-utilize their skills, or they are under-compensated, is another major issue. As employees worry about the likelihood of keeping their job or having their wages cut, there’s a particular group who don’t entirely lose sleep over their job security prospects. These people are franchisees or franchise business owners. Keep reading to see how buying a franchise mitigates worries about job security.
Less Personal Risk
Buying into an existing business gives new owners the chance to run a successful business and make profits without the risks involved with starting up a business. In fact, buying a franchise lets franchisees build upon the foundation of an established company with proven revenue earning capabilities. Some franchises require a decent investment of your own money. However, there are different financing options or deals your business broker can work out with you.
If buying a franchise is within your capabilities, this may be another course towards better job security. Applying for new jobs or even getting further professional certifications can be costly money and time-wise. Plus, it doesn’t always guarantee a better job opportunity.
Corporate offices provide plenty of resources to help a franchise thrive. Certainly, they don’t want to see their franchisees fail. Large franchisers have the experience and knowledge to guide their new staff. They advise on best-operating practices, offer training to employees, and provide their stores with the latest technology standards. Franchises are known for their consistency across all operations. Therefore, a franchise’s corporate office also usually handles marketing for all its stores. Thus, promotional efforts are one less worry for the individual store owner.
Be Your Own Boss
Buying a franchise is very much like buying yourself a job. As the business owner, you are your own boss! Being the owner of your job, business, or livelihood means you have more control over your fate. You get to make the changes in the day-to-day operations that you feel can make a positive impact on your business. Also, the freedom to be your boss and run your own team means you are in a position to reach your full potential and reap the rewards that come with it.
Buying With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.