Corporate Execs Eyeing Career Changes

Date: MAY 30th, 2011

Topic: Franchise News

Canada - May 30 2011 - Scores of high-ranking corporate executives in Canada are considering starting or buying a business, creating a historic opportunity for franchise companies looking for new talent.


Interest in career alternatives are also boosting demand for companies that counsel senior-level personnel, and two premier North American providers have teamed up to give them individualized attention.


FranNet, which has regional franchise consultants across Canada, and ExecuNet, a network of corporate leaders, have joined forces to provide seamless service to top executives looking for a change. They'll have plenty of work: ExecuNet's 2011 Executive Job Market Intelligence Report found 32 percent of high-ranking executives are thinking about buying or starting a business or consulting practice. The report is based on surveys of 3,636 participants that included executives, search firm consultants and corporate human resource professionals.


"There is real interest in alternatives," said Lauryn Franzoni, executive director of ExecuNet. "Executives are looking outside lateral corporate-to-corporate moves to achieve their ambitions. They want more personally rewarding work and a better work-life balance. Many of them are calling their own shots as a way to do so. Also, with jobs still scarce, they think, 'if there is not a great fit out there for me, I'll create one myself.'"


Buying a franchise is attractive because it carries a level of autonomy but also involves tested, proven operational systems that reduce entrepreneurial risk. "The key," said Jania Bailey, FranNet's President & COO, "is educating corporate executives about the wide range of businesses and investment levels in franchising."


"Many of our clients are corporate executives who lost their jobs to downsizing or fear they may, and they are surprised by the diversity in franchising and the types of career moves they can make," Bailey said.


The new partnership gives ExecuNet members access to jointly produced resources including case studies and educational materials as well as a direct pipeline to FranNet's regional consultants.


"We are in a period of time where business leaders think they need to take more control over their destiny," Franzoni said. "Making a career change to business ownership is a great option."