Here's Where Many Are Choosing to Go!
Increasingly, American workers are choosing to leave the corporate world.
They're become owners of a thriving small US businesses. Despite economic uncertainty caused by the COVID-19 pandemic, 1.8 million still people left their jobs voluntarily in April of 2020.
Many are driven by the appeal of being their own boss, to enjoy more satisfying work, gain a freedom of lifestyle and accumulation of wealth that is almost impossible for the average employee attain within Corporate America.
Many of these people choose ownership of a small business vs. becoming part of the gig economy. The former is where this report will focus. A key reason is that owning a legitimate small US business offers much more long-term scalability that includes building a saleable asset, which of course offers a much larger wealth accumulation.
Signs You Might Be Ready to Leave Corporate America
Wondering if you might want to leave Corporate America? Six questions to honestly ask yourself. Click each question for more detail.
Does your work interest you? Find it challenging and satisfying? Are you learning new things? Do you look forward to coming to work each day? Are you experiencing symptoms of burnout?
Do you enjoy their company 40 or more hours each week? Does your boss inspire you and make you feel a part of the team? Has office politics have become an unwelcome burden that has crept into your everyday life?
Can you imagine yourself being fulfilled while doing this work until retirement? Do you realize you aren’t just having a bad day or week, and it’s not something a long vacation will make better?
Does your job often seem miserable? Has your job begun to impact your personal relationships? Find your work life balance is askew? Often feel tired and grumpy a lot of the time?
Do you feel It’s going to increasing difficult to move up any further with any Corporate America employer? Do you have a burning passion to do something else?
Have you realized that as a corporate employee, you’re ultimately working toward someone else's dream? Do I have opportunities to control and increase my earnings based on my hard work? Am I building equity for myself and my family or someone else?
How you answered these questions will likely determined if you’ve reached the tipping point in your career. I you have, it’s time to get serious about leaving Corporate America. The next logical step is to figure out what fulfilling work looks like. But first, let'w look at what may be stopping you.
Things That Hold Many People Back
Deciding to leave Corporate America can be daunting. There are important considerations even if you’re disillusioned with what you thought your professional life would be like. You may have contractual ties, there are bills to pay, spousal considerations, and more. Here are the most common percieved obstacles.
Click each reason for more detail.
This is the #1 Myth and it causes many people to fail at escaping the corporate world because they don’t try. Those that do try, frequently succeed in ways they didn’t expect. You need hustle and perseverance. Those are your only magic bullets.
This is another common reason people stay in jobs that make them unhappy at best and miserable at worst. You have mortgages, spouses, and children to consider, not to mention debt that must be repaid. The responsibility to provide for your family and pay existing bills are important considerations.
Change can be scary, especially if you’re leaving your known world of Corporate America for something new, despite its appeal. It’s best to be curious enough to take a step-of-faith and take small steps to gather all the information rather than taking no action at all.
Be sure and read Shelton’s experience in the last section of this report.
You may seek the confidential advice of family members, mentors, or colleagues about leaving the familiar world of Corporate America. You are most certainly likely to receive advice about the ‘big mistake’ you will make. Yet, these people have little firsthand knowledge on which to base this advice.
Someday usually never comes. You’re not getting any younger and tomorrow, next week, next month and next year will likely not look much different from today.
As said earlier, if you can’t find some relief from what you’re experiencing with a good two- or three-week vacation, then the timing to do something different is probably now!
You may have worked your way up the corporate ladder and occupy a respected position as a manager, director, VP or C suite job title. You may feel a little like a ‘big fish in a big pond’ and that’s not necessarily a bad thing if you’re humble about it. It’s something to be proud of, but not to be braggadocios about.
As a senior employee in a responsible job in Corporate America you may be paid very well, including incentive compensation. You must remember, you are employed ‘at the will’ of the employer and this could change at any time. Mergers, acquisitions, new leadership, financial woes, product, and services issues and many more can impact you regardless of your level within Corporate America.
Be sure and read David’s story later.
What's Next When You've Reached the Tipping Point?
When some or all the above feeling have reached the tipping point for you, it’s time to consider doing something different and more rewarding with your professional life.
A logical choice would be to scratch your entrepreneurial itch and flex your entrepreneurial muscles without the risk of starting your own firm. More on that below.
As you consider whether to repurpose your skills that have been honed within Corporate America, there are four crucial ingredients for finding fulfilling work that are likely missing from your corporate jobs.
Click each job fullfillment ingredient for more detail.
The desire and freedom to direct your own life. The importance of freedom of lifestyle and being able to plan your own day.
The desire to get better and better at something that matters to you. Work you are or can be good at and find engaging.
The yearning to do what you do in the service of something larger than yourself.
The inner peace that comes with work that fits with the rest of your life.
Escape to Where?
The most logical next step would be ownership of a thriving US small business. Here’s what the current trends show.
A Special Type of Small Business
Franchises are an extra special type of business and have proven to be one of the safest and reliable ways to make the transition from Corporate America to a thriving small business ownership.
The best way to at least explore this career option is to find a top Franchise Consultant. I'll show you where to find one of the best and it won't cost you a dime!
Becoming the Owner of a Thriving Small Business
There are many good personal and business reasons for owning a franchise. The US Dept of Commerce states that less than 5% of franchise outlets fail annually. While franchise businesses only accounts for 8% of all service businesses, they claim over 40% of all service related revenue.
Franchises will generate more than $1 Trillion in sales this year alone. There are over 800,000 franchises operating in the US today. One out of every seven dollars is spent by Americans with a franchise business. Here are some important FAQs.
You Get Control. Franchising allows you to go into business for yourself but not by yourself. Franchising allows you to take control and be directly rewarded for your hard work and efforts.
Lowest Risks with Maximum Support. For a majority of people, franchising has proven to be a viable way to become a business owner. For the most part it offers the lowest risks and the highest level of support.
Creates a Win-Win Partnership. Because a franchisor doesn’t succeed until the franchisees do, you’ll find a team of dedicated professionals willing and able to help you every step of the way, from site selection to employee hiring to grand opening. They will keep in touch with you from the very beginning to years down the road and they have web sites, toll free numbers and a dedicated staff to make sure all your questions are answered quickly. Research and development are possible because of feedback from those in the field and this cooperative involvement is a hallmark of a well-run franchise business.
Get a Proven System. The final benefit of franchising is that you buy a package – product or service, brand name and trademarks, marketing and advertising, operations manuals and proven systems – along with thorough training in every aspect of the business. You can totally change careers without years of schooling or apprenticeship or research. One day you can have a “job” as accountant or police officer and a few months later have a “career” as the successful owner of a business, which may be an auto detailer or a pet spa or a home improvement franchise.
And that’s why franchising succeeds – because it works, for the franchisor, for the franchisee and for the consumer.
Get a Dedicated Advisor. A franchise consultant is someone who consults you through the twists and turns of the franchise world and teaches you how to work your way through it. Whether you are a franchisor or a franchisee, there is a benefit to using a franchise consultant.
Get Correct Answers to Critical Questions. Having a specific person to answer the big questions about franchising and being successful can do wonders for growth within a franchise. In addition, potential franchisees don’t necessarily know what they want, how to get there, and where to start. A franchise consultant can help with all of this and more.
Find Your Best Match Among Thousands. A consultant can help you consider your interests and skills and determine what the best possible franchise matches could be considered or even if it is the right path for them to be a franchise owner. They help them every step of the way by matching them to the potential right fit, helping guide them how to conduct a proper due diligence.
No Fee for Service. Any good consultant should not charge a fee for their services due to the fact they are paid directly from the franchisor if they make a successful match based on a finder’s fee.
Short Answer - No they are all not created equal! Our recommended Franchise Consultant has been a franchisor for over a decade.She says, "It's vitally important to conduct validation and speak with existing franchisees that bought the concept you evaluate for yourself, along with reviewing their Franchise Disclosure Document (FDD) to and read completely along with evaluating the personality of the franchise brand to make sure you are a fit.
Investigate Before Committing. Remember it is meant to be a business marriage so courtship will be paramount. You certainly would not want to get into a business partnership with someone who truly doesn’t care about your success or doesn’t provide solid training and support.
More Information Available. Let us know you're open to at least having a free 15 minute discussion with our recommended Franchise Consultant and she'll make available her digital reports on on How to Buy a Franchise, 10 Costly Mistakes to Avoid to help you know what to look for. And if you want to continue this discussion, she will help you navigate the process.
A System Already Proven Successful. When you buy a franchise, you are buying the rights to someone else’s proven business plan. The model, the uniqueness, the operations, the marketing, training, support and technology is all be figured out.
Less Startup Time - Quicker Revenue. The value of time as a person to have to find all of this and put everything together when starting your own business is priceless. When you buy a franchise you are buying speed to market. This way, your time and your money go toward making the money instead of trying to figure out how you are going to make the money with your own vision.
Break Even Time Reduced. Reality is, we can nearly cut in half the break even time with a franchise concept, simply because it is proven and you will simply execute in your desired geographic area. Ultimately franchises do not cost more than starting your own business because of time value and risk factors.
That is a Huge Myth! Often people believe they have to be the expert in whatever business they choose. With a franchise, you are partnering with the experts - the franchisor. Every business operates the same way and when you decide to become a franchise owner, the first decision you make is what role you want to play in the business.
Multiple Options Are Yours. Do you want to be the “expert” and not deal with any employees?
- Do you want to be the operating president where you build a team underneath you and build an asset you have grow and have a built in exit strategy for when you are ready to officially retire?
- Do you want to keep your day job, hire a General Manager who runs the business on a daily basis and you build additional wealth and income outside of your 9-5?
The True Reality. When you become a franchise owner, you elevate yourself from the employee - expert to the Executive - Operating President or CEO. Required transferable skill-sets from your past career will be leadership and management. Surprisingly most franchisors prefer an owner who is not an industry expert, but instead hires people who can the day to day work, giving the franchisee time to focus on growing and managing the business. You bring the entrepreneurial spirit and in exchange, they give you the training and support.
Franchising is not a fit for everyone. If you have your own vision, endless amounts of capital to invest, don’t like following rules set by others and want to run your show and not have to report to anyone another business would be a better choice.
A franchise has a built in blue-print for you to execute. The franchisor when creating the model has already done all the testing and made all the mistakes along the way to create a proven model. Their job is to make sure you don’t make those same mistakes so you have a speed to market and have the best chance to grow successfully and quicker than starting something on your own.
Making the leap from employee to owner involves a shift of thinking. From Salary mentality to an employee to cash flow and asset creation of an owner. No matter how high ones salary is, or where they land on that corporate org chart, if you are an employee, you are every day renting your time and your talent to build wealth for a company that would and could get rid of you in a heartbeat tomorrow.
As an employee, you have very little financial risk- the real risk is the ability to keep your employment for your future income. And as the saying goes, low risk, limit of upside potential or should I say the higher the risk the higher the reward? Owners take on more risk. They invest savings to create a business and so the risk is whether or not the business performs. The owner also derives the majority of the benefits should it prove to be successful. Once it is established, security of cash flow is gained along with tax benefits and the creation of an asset.
Basic risk/reward but it is the very foundation of what wealth creation in a free market economy is.
NO! It is a lot of hard work, dedication and a large amount of your time and attention and is not meant to be treated like a hobby that you will pay attention to when you have spare time. These are real businesses that require lots of love and attention. With the support of your franchisor and the corp team they are meant to be your business partner all the time, every day. They are committed to help you grow, but you have to do the work. You will be expected to execute.
Wrong! As a franchisee, your payments to the franchisor consist on a one-time fee to buy the rights to expand their brand in your geographic desired area. Then, every franchisee pays royalties back into the overall system. These are typically weekly or monthly payments incurred for the life of the actual franchise agreement.
It is vital to understand the actual purpose of the royalties. Without them, there would be no franchise. It allows the franchisor to build and most importantly maintain a comprehensive support system to aggressively develop its marketing programs -- to innovate and stay on the cutting edge of their industry. It’s a win-win for all involved. Without it, there would simply be no franchise system which, by the way, is the most valuable aspect of what the franchisee is buying after all.
Most franchisees feel the benefits are well worth the expense. Additionally, advertising contributions from each franchisee is also an expense. Marketing is key to any successful business so it would be wrong to require only one partner in this business marriage to be responsible for these obligations. Not marketing is a sure fire way to fail at any business so it is a huge advantage when the franchisor has already tested the marketing and knows what works and what doesn’t.
No way! They are all very different depending on the industry and market. Yes, there are basic elements that all franchise systems have to maintain, but most vary in respect to training, operating systems, branding & marketing guidelines and how they actually make money.
Requires Due Diligence. Anyone looking to invest in a franchise MUST thoroughly review the FDD to understand the philosophies of the specific Franchisor. This document sets the tone of the business marriage, if you will.
Chose a Franchise Consultant. A Franchise Consultant knows this process and will guide you through this process to a well-informed and successful end result.
There is a lot more to franchising than french fries! With nearly 4,000+ franchises today in the US, many are non-food related such as service based. Rather than focus on a certain industry of franchise brand, take an inventory of your skil-sets, interests, experience and your goals. Be anchored by reality to define how much you can really afford with a franchise and what your income expectations are as well.
Let a Franchise Consultant Guide you. Remember our recommended Franchise Consultant's service is FREE and she will help you find the potential franchise from among this widely diverse possible choices.
As a franchise owner you are in control of your own business. Your franchisor will provide guidelines that adhere to their specific national brand, however you manage your business, your finances, employees, customers and your future.
Wrong! While many are choosing to fire their boss and escape corporate America by becoming a franchise owner, there are plenty of satisfied corporate executives that are seeking diversification or building a transition path so that in the next 1.5-2 years they could fire their boss and become FT involved in a franchise. Some never leave their corporate position and scale through manager run franchises while keeping their pay check. Simply put you don’t have to choose one over the other - you CAN have your cake and eat it too!
Real Stories of 5 People Who Chose Franchising
Stories of people who left Corporate America. Why and what happened.
I was looking for an opportunity to move away from the corporate life I was living. I had spent many years sacrificing time, energy and effort driving to the office every day to a job that brought me little satisfaction. I wanted something I could build and grow for myself and my family. My wife and I had explored a couple of different opportunities, but we really didn’t know where to start.
I was really pleased with the results, [from my franchise consultant] especially the well-defined, systematic approach to franchising. The initial thought of franchising was somewhat daunting, but once we began working through their process, we became much more comfortable with the decision we were making.
As a direct result of working with [our franchise consultant], my wife and I were able to effectively evaluate a variety of franchise options, several that we would have never pursued on our own, and ultimately find a franchise organization and model that fit our goals and personalities well and that was built around a strong, supportive team.
Prior to becoming a franchise business owner, I was struggling. I worked anywhere from 50 - 60 hours per week and a complete road warrior. Being a father of 3, I often felt guilty not being present in their lives, especially when they were toddlers.
My marriage fell apart, mostly I feel because I was not present for my life, period. Looking back, I can’t say I would change anything. I had to provide for my family, and no one can say I didn’t do my fair share helping build my bosses bank account and my own family’s expense.
Fast forward to today, here is what my life looks like. I was downsized through a merger and my position was eliminated so I chose to be my own boss. I own 2 locations with a staff of 10 and my locations are growing and thriving. I am currently in site selection for my third location to open.
I decided to make up for lost time with my girls, so having joint custody, I needed my business to enable me to work ON my business not IN my business. I chose a semi-absentee retail model that after 7.5 months of hands on, I can now spend 5 hours per week managing my managers and the business, so I have more of a work life balance.
I recently bought a new home and have more family time with my girls than I could have ever imagined. I have a lifestyle I have always dreamed of where I can be present in their lives and do what I love and what takes up most of my day. love the flexibility this business provides me. I know I can pick up my daughters from school or drop them off at her friend’s house. To me that is invaluable. My business works for me, not the other way around.
I had a bad car accident I had to reevaluate what my next chapter was going to be. When I first opened my franchise 10 months ago, it was only myself and my business partner. It has only been one year, and we now have 35 employees and we just hired our 2nd manager. Becoming my own boss was the best decision I could have made.
We work for ourselves and reward from all our hard work, it has paid off. We continue to grow every month. We own this and no one can take that away from us. Even though we pay royalties, those fees cover the things that I really can’t do for myself like the website marketing and software development. My background was in engineering and I have led engineering teams, but this was my first experience owning my own business. Running my own business has been rewarding.
The support from the corporate office is very strong and they really care about our success. I am glad I made the decision to follow my dreams and take my business background to work for me. I experience freedom with my schedule and have more time to spend with my family. Now my family and I enjoy a significant increase in income, and my husband and I spend more of our time together with each other, our children and now our grandchildren. Our travel plans include a family visit out of state in the next 6 months and I have room to breathe and enjoy life much more!
My background was in Corporate America for IBM for 27+ years. I had always thought about starting my own business but there was always that lingering fear of the UNKNOWN. Having somehow surviving a half a dozen layoffs over the years, I too finally had my number come up.
In my mid 50’s with NO JOB. I decided it was time to think outside of traditional employment, time to get creative. Knowing that a franchise allows you huge level of scale and knowing what I enjoyed doing and did well, I began my search for what next.
The commitment to excellence, great reputation, and well-defined operations made becoming a franchise partner a very exciting prospect. I felt like a lot of people I knew owning their own business basically had bought themselves a job and worked even more hours than before. I knew I wanted to be involved heavily for the first 12 months and then be able to back off more overseeing the operations down the road.
Being a franchise owner has been life changing for me. I have less stress and more gratitude because I truly own what I do. Today I put in 5 to 7 hours a week on the business, more on coaching and guiding my staff. Because I put full effort the first year, it has allowed me to sit back and see the results of my efforts. I have renewed energy and real pride in what I am doing.
In the corporate world I worked long hours and never reaped the benefits or was given the recognition or appreciation. With my business, I decide where and want my focus is on, as I continue to invest in my future. This past year I was able to go on vacation for Thanksgiving with my family, something I had not done in 10 years. Things ran smoothly while I was gone, which means I trained my staff properly and they are running this without me having to be around. That would not be true at IBM, in fact, if it was noticed you were not needed while on vacation, then you had a bull ’s eye on your back for the next layoff.
I was most attracted to my franchise model because it was plug and play a complete package. From sales, marketing, vendor relationships to technology to help me run my business remotely. They go above and beyond to help each franchise owner be successful.
I know I made the best decision of my life becoming a franchise owner. My bonus After almost 10 years as an owner, I still love to come to work every single day!
I spent most of my career in the telecommunication industry, starting in sales before working my way through the ranks of Motorola. After more than a decade in the same industry, I thought I was pigeonholed to a career in such a narrow industry, but realized those years created skill sets that were completely transferrable to a different industry and totally different career opportunity. I did my homework and spent time doing proper research before narrowing it done to a few.
My franchise has allowed me to combine a passion and a skill set and channel that into a dream career. I love it and I love what I do, and it provides work life balance for me that I need.
The simple model makes it easy to put a manager in place so I can focus on the big picture and have more time with my family. I became an owner 2 years ago and have never looked back. Now, I still work a lot, but it benefits me and my family directly. Not only do we get to have fun and bring a lot of energy into people's lives, but we also really are a business representative in our community for what businesses should stand for.
And it's not just about making money, it's not just about being profitable, it's about supporting the community that supports us. That certainly wouldn't be possible without the guidance and support I've had from my franchise partner!
Where to Find a Franchise Consultant
PLEASE NOTE: I'm Carl Bradford and I'm NOT a Franchise Consultant. I will introduce you to the best Franchise Consultant I know where you can become more fully informed at no cost, or obligation. And it is not a sales pitch!
I offer this as a service because as a Recruiter and Consultant within the hiring and staffing industry, I’ve learned that many people are looking for something different and I wanted to be able to offer that as a viable alternative.
As part of that, I’d like to have an informal chat for about 15 minutes just so I understand your goals and if we mutually agree that exploring the franchise route is a viable option for you, I’ll make a personal introduction to our Franchise Consultant of choice.
The purpose of our call will be to exchange some preliminary information. I will also commit to you that if you are introduced to our Franchise Consultant you will find it to be a highly informative experience…again not a sales pitch. You’ll receive factual information as to whether this is a viable option for you.
Contact me by setting up a call on my calendar using the button below. I’d enjoy helping you if you’re at least open to explore this career opportunity.