It's a significant thing to shift from employee to employer. There is a significant distinction between depositing a paycheck for yourself and transferring funds into your business checking account in order to pay someone else.
The question you need to ask yourself has to do with patience. Specifically, can you be patient?
Simply put, can you handle not having a consistent income until your franchise business starts to take off? Both psychologically and financially.
The good news is that you thoroughly researched the franchise you invested in, so you'll know ahead of time when you'll roughly break even and be able to start receiving a paycheck. It is a component of your business plan.
However, there are two questions you must ask yourself:
First: “Is my head in the right place to do this now?”
Second: "Am I prepared for this change in my career?"
Like purchasing your first car or house, purchasing a franchise requires a certain level of confidence. However, you did not make either purchase blindly. You did your homework.
You likely turned to others who were knowledgeable about houses and cars for assistance. And you had it in you to continue. To say yes.
You can do it here as well. Be systematic. Speak with numerous current franchise owners. Ask them a ton of questions. How did it go for them to go from being an employee to an employer? Ask for advice from them on how to do it.
If you have the appropriate mindset, the time may be right now.
Is the time right for you to invest in a franchise? If so, please schedule a brief call here.