Is Ownership Right for Me?
Although people enter the Sanford Rose Associates system for a variety of reasons, almost all of our current franchise owners had two desires in common:
To create wealth for themselves; and
To gain greater control of their lives.
Many had worked for companies where work and travel schedules increasingly interfered with their life at home...where constant changes in strategic direction wreaked havoc with workforce morale and productivity...and where personal performance was eclipsed by corporate politics. In order to get ahead, many also found the need to uproot their families and change jobs every several years. If you are considering business ownership as an alternative to employment, can you truthfully answer "YES" to these brief questions:
Are you ready to be your own boss?
Do your past accomplishments give you confidence that you can a build a business for yourself?
Are you willing to invest a portion of your personal resources to make your dream come true?
Do you have sufficient liquidity to cover financial needs while the business is getting started?
Will other family members support your decision?
Should I Join A Franchise System?
Starting a business is often a trial-and-error process, with the owner trying to learn from each mistake before the business fails.
Franchising provides an alternative way to become a business owner by eliminating much of the trial and error.
Franchising is a concept that is known around the world. It means the granting of a right – specifically, to operate a business that uses the trade names, proprietary methods, expert training and ongoing support of the franchisor in order to market a product or service. Franchising is a $1,000,000,000,000 business in the United States alone, providing employment for over seven million people.
Here are some advantages of franchising:
You acquire a proven business format.
You acquire the experience of the franchisor, so that you can avoid mistakes and move up the learning curve quicker.
By being part of a larger organization, you receive the kind of marketing, accounting, information systems, strategic planning and purchasing support that most entrepreneurs can only dream about.
You become part of a network of similar-minded business owners, who become your mentors, colleagues and friends.
Here are some considerations to keep in mind: You will be expected to follow certain quality standards and operating procedures established by the franchisor.
Even in the best franchise system, owners can fail if they lack sufficient capital, have poor work habits, can’t manage other people or refuse to follow the franchisor’s formula.
You will share a small portion of your revenues with the franchisor in the form of royalty payments, which help the franchisor maintain both its ongoing support of franchisees and its ability to invest in product and service improvements.
SRA International, Inc. (franchisor of the Sanford Rose Associates executive search system) is a member of the International Franchise Association and the Canadian Franchise Association and subscribes to their Codes of Ethics.