I want to leave my corporate job and buy a franchise so I can benefit from a better, more balanced lifestyle. Is this the right move?

You need to carefully consider some aspects before you make this big move.

While franchising offers a proven and successful concept, the degree of work you’re going to put in in the first two years are akin to an entrepreneur opening their own business. Your first year is going to involve learning the system and getting your operation running smoothly, while your second year will be about generating enough income to (first) draw a salary and (second) have enough profit to hire a manager to run your operation.

Also be sure to understand your obligations with different brands. Are you expected to be an owner-operator? In which case you’ll be expected to be on-site majority of the time. What are the trading hours of the brand? Will you be expected to be open all week, including weekends and public holidays? Long trading hours?

These aspects are going to heavily influence your decision, since if you’re leaving corporate to gain more free time, it’s not likely to happen for the first two years, and especially not if your brand has the trading hours listed above.

Don’t make the mistake of thinking you can walk away from an executive corporate job, buy a franchise, and then expect to draw an executive’s salary on your new franchise’s profits. It’s very important to forgo some financial luxuries in order to reinvest profits into the business. While a sacrifice in the short term, it will reap rewards in the future.

Franchise Zone
About the Author
Franchise Zone is published by Entrepreneur Media SA. It offers advice and franchising opportunities in South Africa.

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