Franchising a Growing Option for Laid Off Workers

March 26, 2009 | By

Eve Tahmincioglu from MSNBCEve Tahmincioglu from MSNBC.com had an interesting article concerning the growing number of laid off workers who are buying franchises to continue their career. In When Career Turns Down, Franchising is Option she reports, “more and more laid off workers are considering franchising as an alternative to working for someone else, according to experts in the industry”. How do you know if franchising is right for you? One factor that is often misunderstood is that the ideal franchise owner should not be too entrepreneurial. Although all franchise companies vary in their requirements, a franchise owner has a proven business plan in place that the franchisor will want followed. If in previous employment you found yourself constantly debating the best way to operate the business, franchising may not be for you. Of course there are many advantages to getting a working franchise concept, and you may consider employing a franchise broker to find the right franchise for you. In any case, whether you turn to franchising, open your own business, or take the more conventional employment route, one thing remains the same – your success will depend on your common sense and hard work.

Filed in: consulting, franchising, franchising information, starting a business | Tags: , , ,

Comments (4)

  1. Adam

    It’s not just franchises. People are starting business of all types, from franchises to freelancing to startups to small business. In this economy it makes a lot of sense to take the risk now and see what happens, especially since finding a new job will prove tough.

    Read an article somewhere that entrepreneurship is skyrocketing amongst 18-35 year olds right now, who see that they won’t receive loyalty from a big corporation so they might as well start a company themselves.

    Ironic that starting a company is actually more stable than working for a big corporation now.

  2. Steve

    Why do I think there are a lot of former executives out there with a lot of money to invest? Is there a franchise that specializes in ‘golden parachutes’?!?

  3. With the changing economy there are more and more people considering the option of owning their own businesses. Gone are the times when people can rely on a corporation to “look after” them. The time has come for people to take full responsibility for their own futures. For some people franchising will be a great option. People do need to understand the responsibilities that come with franchising…mainly high investments, long hours and having to follow the guidelines set out by the franchise. For many, this is just buying another “j.o.b.” Except this time, there is huge financial commitments on the line. There are many other business options out there that people should consider before making the final decision on committing to a franchise. For those that would like to explore other options, feel free to contact me directly.
    Debbie Ruston

  4. abiton

    This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone.

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