A tough day during your 9 to 5 job – We’ve all been there. It makes us reassess our goals and career choices. Whether you’re in the midst of sifting through new job opportunities or stuck in a 9 to 5 grind, these frustrating times make us want to look for ways to be in control of how we want to spend our time. It’s okay to be dissatisfied with your corporate life, to want more from your life and look for a fresh start.
While everyone has their own set of goals, the desire to have enough freedom to do what we want, when we want without any financial constraints, while having the opportunity to grow in new and rewarding ways, is a common theme for a lot of us.
We’re here to explore how franchising can be your way out of this life, your vehicle to career freedom - a successful investment of your time and resources.
Most people who decide to get out of the shackles of a corporate life transition into entrepreneurship. You do your own research, put together a business plan, think of a name, register your company, offer unique products or services and start your own small business.
While it’s commendable to even reach this point, before starting the whole process you should assess the shortcomings. Most likely, the advantages of starting your business from scratch are usually exceeded by financial woes and resource constraints.
Let’s look at some numbers which show us the reality of opening a new small business in Canada:
According to Statistics Canada, Canadian Centre for Data Development and Economic Research-
- Only 42.9% of businesses survive after 10 years of getting into business.
- Over the period of five years from 2013 to 2017, on average, 96,580 businesses were created every year and 90,600 disappeared.
Thankfully, franchising gives you the chance to be your own boss, make your own decisions, and earn money without having to spend time and resources on setting up the foundation of the new business. You reap the benefits of an established brand, a tried and tested business model, research, knowledge and experience.
Let’s now look at some numbers from the franchising industry to bring out a balanced picture:
- According to a Canadian Franchise Association’s advocacy survey, 62% of the Canadian franchises having been around for 11 years or more and 30% of them in operation for 25 years or more.
- There are now roughly 76,000 franchises with over 900 brands in Canada
However, like any other business it does not guarantee success. You need to do your research, due diligence and networking to find the right franchise for you. Ask the right questions. You can find a list of questions to ask your franchisor here.
You don’t have to be a sandwich lover to open a sandwich making franchise. You don’t necessarily need to be an accountant to own a TaxAssist Accountant franchise. Your business acumen and professional strengths should be the basis of your decision. You can learn more about the traits of a successful franchise owner here.
TaxAssist Accountants can be your ticket to career freedom by helping you to start your own profitable accounting and tax franchise. You will work for yourself but not by yourself. Our industry-leading training, marketing and technical support will help you build an asset for the future.
To learn more about our business model, contact us to book a free 45-minute Discovery Session here