White collar layoffs have been a part of the business landscape since 2009 when the economy started to falter. Although things have been on the upswing, many major corporations are still making cuts at the management and executive levels in order to save on expenses and protect themselves from future financial hits. If you’re among their numbers, or worried about being in their group, there is another answer.
Managers and executives who find themselves without a job have a silver lining in the cloud. Franchise opportunities can be the perfect solution to what seems like a bleak job market. Owning a franchise will allow you own your own business so you never need to worry about being laid off.
If you have management experience of any type, franchises can be a good way to put that experience to good use and give yourself more financial stability into the future. Former managers and executives make ideal candidates for franchise owners for several reasons:
1. Franchise ownership requires long term vision.
If you have experience as an mid to upper level executive, you’ve been trained in thinking in the long term. You know that the day to day activities of a business are all play into long term goals that will move the business forward to bigger and better results. While employees are focused on the day to day inner workings, the franchise owner needs to be focused on ways to make sure that the right tasks are done at the right times for long term growth. By relying on your previous management experience, you can be sure that your franchise will succeed.
2. Franchise ownership requires leadership.
Owning a franchise means being a leader – something that you already have extensive with. Making the tough decisions and planning out strategy in order to lead a team are all skills that can be easily transferred over to owning a franchise. Leadership skills are only improved with time and if you already have years of leadership experience under your belt you’ll be a lot more likely to succeed than others entering a franchise.
3. Franchise ownership requires decision making skills.
Managers and executives are excellent decision makers and these skills are necessary for successful franchise owners as well. Even with the guidance of a franchise owner to help you launch your business, you’re going to need to make top decision making skills in order to keep your franchise afloat. Rolling your decision making experience over into franchise ownership is a great way to put these skills to good use.
For these reasons and more, franchise ownership makes sense for managers and executives. Many of the challenges that new franchise owners encounter aren’t a problem for those with management experience. It’s a natural transition from manager or executive to franchise owner. And best of all – there are franchise opportunities available in virtually every industry under the sun. No matter what industry you worked in as a manager or executive, you can be sure that you’ll be able to find something that fits your experience.