This Is Great! Personal Advantages to Franchise Business Ownership

Jan 25, 2012

Often, a common question from potential franchise investors and entrepreneurs is related to income potential. While I completely understand the logic behind this question, the question I rarely hear is “What are the personal advantages to owning a franchise business?”  As a fellow owner of two franchise businesses, I would like to take the opportunity to share a few of the observances I have made about my own experience:

• Build my own schedule – yes I do work an amazing amount of hours, but I choose when.  If I am late, early or need to take my dog to the vet…I can.
• Control your own income – Unlike a “job”, my income fluctuates with the business, rather than a “paycheck” each week. This can have some disadvantage too, but a lot can be said for having a great month!
• Choose your clients – Who hasn’t worked with that “one client” as a representative of the corporate position? As a business owner, you identify your ideal clients and choose who may get to work with you.
• Tax advantages – certain deductions are available to small business owners, like 100% tax deductable health insurance plan.
• Personal Satisfaction – There is a satisfaction around contributing to the growth of the economy by employing people, increasing revenue, paying my taxes….I also believe I make a difference everyday with my clients with solid information, advice and listening.

In summary, learning about the income potential around your future franchise is incredibly important. However, learning about the personal advantages to business ownership around a specific franchise business model is equally important. It is not always about just black and white figures.