I am frequently asked why I am passionate about franchising. Here's one of many: Corporate America was not made for me. And it probably wasn't made for you either. Here's a quick history lesson. In 1900, 50% of American's were self employed, but by 1977, the number dropped just to 7% of Americans. According to the Bureau of Labor and Statistics, self-employment is on the rise thanks to the side hustle like Uber, Grub Hub, and Amazon finishing at 33% in 2018.
Why Do People Want to Leave the Job Market?
In the economic transition from 1900 to the 1970s, workers saw jobs as a means to an end. A job provided a steady income with perceived stability. A job was a necessity to survival. The last few decades have changed the predictability. Rather than retiring after 40 years with the same company, gold watch and a pension in hand, most workers will have a dozen jobs before 50. And it is not rosy after 50 with more than half of workers being forced out before they're ready to retire.
Even if you love your job, the chances of your company letting you retire on your own terms is slim at best. The bottom line is there is zero stability in corporate America. The steady, predictable job is gone. It's affecting every generation from Millennials to Boomers.
Franchising Offers a Second Chance for Employees
It's not all doom and gloom. Getting back to the question at hand, why I love franchising, there's great news. Unlike corporate America, there isn't a boss to replace you with a younger, cheaper employee. If you are the younger, cheaper version, there's not a boss to decide your age decides your salary or how long you will stay in that role. You get to create your own success.
Unlike the side hustles that allow many to be entrepreneurs, franchises build equity. All of your efforts repay you when you're done. You are no longer swapping time for dollars. You can sell it to finance your retirement rather than spend your golden years as a greeter at Wal-Mart.
If you want to explore a corporate exit strategy, we can help. Contact us for FREE assistance at 720.805.0444 or jhouston@franchoice.com.
Jessica Houston, Franchise Consultant
Electus Franchising
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