Three Times When Buying a Franchise Make Sense
If your problem is not which franchise to buy but when to act, keep in mind that some moments might work better than others when buying a Canadian franchise. Here are three points in your life that could be perfect timing for your new venture.
When you're laid off
One day, you go to work as usual and find out that you are or will be laid off shortly. In that moment, your life changes and you're not certain what to do now instead of going to your work each day. Before you panic and start a search for another job you're not satisfied with, consider finally becoming your own boss. Being laid off doesn't have to be all bad; it can serve as the push you need to finally open your own place and work for yourself.
When your existing job becomes frustrating
You can be frustrated by your current job for a lot of reasons. Maybe your boss has no clue how to lead people, but you feel bad about leaving your coworkers behind or you've already been at this job for ten years and can't imagine another ten doing the same thing. You do have an alternative, and that's leaving your job behind and starting a business of your own with the help and support of an experienced franchisor with an established system.
When you have the money to invest
When you're annoyed with your current job or have been laid off, having the funds to make a move can be an exciting and liberating experience. Franchise startup costs vary widely by investment, from thousands of dollars to over one million. Look for a franchise in an industry you're interested in that meets your needs and fits your budget. If you've decide on a brand that you don't quite have the funding for, keep in mind that financing for an established company can be easier for you to obtain than financing for an unknown business.
If you keep waiting for the "perfect" time to join a franchise, you may never make the move. There are, however, events in your life that may encourage you to make the leap from employee to owner. When you have the chance to make your dream of business ownership a reality, it's important to recognize that the door is open and finally walk through it.