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Everyone needs a job, and for many people, jobs are a measure of success. However, having a job also means having an employee-employer relationship, and that is not something everyone enjoys.
Going from Canadian employee to a franchisee is one way of shedding the burden that is working for someone else. Along with that freedom, however, come many changes you should be aware of, including those covered below.
You'll acquire new skills
Many times, an employee has a specific and narrow set of tasks to handle, and their skill set reflects that. As a franchisee, you'll have a variety of different tasks to handle, including labor and wage issues, legal transactions, customer service and more. You will, of course, have the franchisor's support, but you should be prepared to learn many new skills as you go along.
You'll begin to connect the dots
The more new skills you learn, the more you will notice how the different parts of your franchise are connected. If human resources or tax plans are not familiar to you, for example, they will become so once you see how having employees impacts your tax situation. When you know and can anticipate the cause and effect on the various sections of your franchise, you will be able to make better decisions for your business.
You'll be on your own a lot
If you were previously an employee at a big company, you were surrounded by a team of experts on different subjects handling the various aspects of the operations. When you have a franchise, you do have the franchisor and other franchisees to help you out, but you are still the sole person handling most of the day-to-day decisions.
You'll work long days
Working long hours may not be new to you, but putting in a lot of time at the start of the new franchise is the norm, even if that franchise is only part-time for you. You have to build a solid foundation and foster a smooth operation before you can step back a little. Create healthy routines so you stay on top of your mental and physical wellness during this time.
Before you commit to a franchise, make sure you are ready to make the transition from employee to business owner. It's vital you are in the right mindset from the start of your new business if you want it to succeed.