• Skip to main content
  • Skip to footer
Get a FREE Consultation

Franchising Path

Connecting You to Your Future

  • Find Your Franchise
    • All Available Franchises
    • Beauty Franchise Opportunities
    • Children’s Franchises
    • Crime Scene Cleanup
    • Critter Control Franchises
    • Health & Fitness Franchises
    • Junk Removal Franchises
    • Lawn Care Franchises
    • Mosquito Control Franchises
    • Pest Control Franchises
    • Pet Franchise Opportunities
    • Roofing Franchises
    • Senior Services Franchises
    • Swim School Franchises
    • Tree Service Franchises
    • Water Damage Franchises
  • Success Stories
  • Our Process
  • Franchise Consulting
Franchising Path | How Can You Get Ready to Own a Franchise Before You Quit Your Job?

How Can You Get Ready to Own a Franchise Before You Quit Your Job?

by franchingpath February 15, 2022

Dreaming of becoming an entrepreneur may make you want to quit your current job, but before you do, make sure you have everything in place to be a successful franchise owner.

Select a Franchise Wisely
When it comes to franchising, there are several alternatives. First, you must decide the industry and brand you wish to work in. The next step is to decide whether you want to be an owner/operator or hire a manager.

You may even be able to own a franchise while continuing to work your day job if you will not be engaged in the day-to-day operations. All of these are things to consider before submitting your notice.

Balance the Budget
Running a business isn't cheap, and in addition to the franchise fees, you'll need to account for startup and continuing operational costs. Oh, and don't forget to pay yourself!

Knowing how much it will cost to manage your franchise can give you a better idea if you have enough money to finance it now, whether you want to take out a business loan or whether you should continue working for a little longer.

Do Your Homework
A smart franchise owner should always do their due diligence, talk with existing franchisees, and get to know the team at the corporate office.

By researching these areas prior to launch, you will guarantee that you are well prepared and avoid any unpleasant surprises down the road.

Time Management
Money isn't the only thing you'll need to invest in when starting a franchise. You will be devoting a significant amount of time to this business, particularly at the outset, so plan accordingly.

If you intend to keep working, you must be sure that you can devote adequate time in the evenings and on weekends to make the business successful. You may choose to hire help from the start to ensure your success.

Discuss your time commitment with your family. Having them involved in the decision and setting expectations now will help when you need their support later.

Before you quit your day job, please schedule a call here.

Filed Under: Franchise

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Call Today: (909) 376-9809

Company
  • About Me
  • Success Stories
  • Schedule a Call
  • Blog
  • Franchise Quiz
  • Franchise Requirements
Services
  • Our Process
  • Franchise Consulting
  • Frequently Asked Questions
  • Terms & Conditions
Connect

© Franchising Path. All Rights Reserved. Privacy Policy