What does it mean to work for yourself? Independence? Check. Flexibility? Check. Pride? Check. Self-empowerment? Check! Working for yourself requires hard work and dedication, but it can be some of the most rewarding work there is.
Working for yourself doesn’t have to mean working by yourself. When you think of being your own boss, you probably think about people who start their own companies based on unique ideas and an understanding of business management. The fact is that most people don’t have an amazing business idea or the knowledge of how to get it started and turn it into a success, which discourages them from following the dream to be their own boss.
What you may not realize is that investing in a franchise allows you to be your own boss without missing out on the support of an experienced network. Owning a franchise gives you many of the same perks as entrepreneurship, with the added benefits of a proven business model!
These are just some of the ways that owning a franchise allows you to work for yourself but not by yourself.
Boutique Franchise Mentorship
By all accounts, the small business community is an inclusive one. Building relationships with other small entrepreneurs in your community is a smart way to improve your skills and learn about business ownership. You should always be networking within your community to find mentors, partners, customers, and employees.
When you work with a franchise brand, you have a built-in network before you even start. Many companies have franchise owners across the nation, or even across the world, with whom you can form relationships. The great thing about your fellow franchisees is that each of them has been in your exact position before, so they can give advice and ideas to help you as you get started. Then, as you become more advanced as a franchisee, you can act as a mentor to the new members of the company when they join.
The mentorship culture in franchising is key part of most companies. Franchise companies expect you to get to know some of the other owners so that you can bounce around ideas and get to know the company that much faster.
Earning more money is probably one of the biggest reasons that you started considering owning your own business. As a business owner, your income is virtually limitless—if you work harder and smarter, you earn more money, which is not true of a corporate job with a salary.
Generally, this financial independence comes at the cost of an initial investment and months (or even years) of hard work. But when you know that your hard work is directly benefiting your pocketbook, it is incredibly rewarding.
So, how does franchising help you with financial independence when you have to pay royalties? First, the royalties that you pay go in part toward benefitting your business through company-wide marketing efforts, product updates, branding, and more. Second, many franchise companies help you finance your initial investment either through in-house financing or through preferred third-party lenders.
As a business owner, you are empowered to make the decisions that matter to your business and to you. You can hire the employees who fit your vision, sell the products and services that you care about, donate to charities that are important to you, and generally build something that you can be proud of. Working in a corporate setting does not empower you in all the ways that owning a business does.
When you work in a proven franchise concept, you are empowered to do all of those things, but with an added layer of support from a corporate network that is as invested in you as you are in it. Choose a franchisor that works with its franchise owners to help them build businesses that matter to them. Choose a franchisor that supports its franchisees and shows them how to get started and continue growing. Choose a franchisor that empowers you to be the business owner you want to be.
There can be no doubt that owning a franchise is different than starting a business from scratch, and in our (completely unbiased and objective) opinion, franchising is the better way to work for yourself.
Investing in an Apricot Lane Boutique franchise gives you the tools and support that you need to start a clothing boutique business in your community. Learn more about our franchise opportunity to see if this is the right franchise for you!