Are You Ready to Be Your Own Boss as a Franchisee?
Part of the appeal of buying your own living assistance franchise is the chance to be your own boss. Almost everyone dreams of it at one point of another. But in reality, only a select few are truly ready to become their own boss and take total control of their professional life.
If you’ve been thinking of buying a living assistance franchise, you should be asking yourself if acting as your own boss is right for you. Here are some of the things you should consider to help you answer this question.
Are You a Self-Motivator?
There are no qualities more essential for entrepreneurs than strong disciple and self-motivational skills. At the most basic level, no business can succeed unless the person at the helm is able to set goals, outline a plan to achieve those goals, and then actually put that plan into action. Some people need outside motivation to make this happen. But as a franchise owner, you’re the one holding your own stick and carrot.
Do You Have the Patience for a Franchise?
As an entrepreneur, it’s dangerous to expect instant success for your business. Most franchise businesses take more than a year to become cash-positive, and the early-going can be tough on new franchisees. While the rewards are well worth it in the long run, being your own boss means having the wherewithal to stick with it through those lean, early days.
Can Your Finances Support a New Business?
Buying a franchise in the living assistance space — or any other industry — is a major investment. And like any investment, it’s important that you’re honest about your ability to finance that investment. Too often, new franchisees jump the gun and put pen to paper before they’re financially ready to purchase, launch, and grow a new business.
Are You Quick On Your Feet?
If you want to become your own boss, you need to be able to react and adapt to new challenges. Buying a franchise comes with obstacles, both expected and unexpected. Smart franchisees know when to stay the course and when they need to adapt their approach.
Will You Love What You Do?
If financial success is your only reason for buying a franchise, chances are you’re not ready for the day-to-day grind of franchise ownership. Franchisees thrive because they love the challenge and responsibility of running their own business and because they love making a difference in their field.
Think you’re ready to be your own boss? Contact us today for detailed information on buying a living assistance franchise with Visiting Angels.