Are you looking for a way to be your own boss, achieve a better work-life balance, and set your own hours? Then owning a franchise might be the best option for you.
But is owning a franchise worth it? For many people, it is. Whereas starting a business often comes with a lot of unknowns, opening a franchise is a continuation of an already highly successful business model.
Checklist: Are You Ready to Own a Hospitality Franchise? Click here to find out!
With that in mind, here are five reasons why opening a franchise might be a great decision for you in 2022 and beyond.
- You can achieve a better work-life balance
There’s no doubt about it, working in the hospitality sector is incredibly rewarding. When it comes to working in a restaurant or bar, you get to work with a team that creatively builds an experience that truly makes your guests happy.
But it’s hard work. People in the hospitality sector scarcely get a moment to relax. There are dozens of people to be served, back-of-house work to be done (such as inventory management), and a constant influx of new competition.
As a hospitality owner in the franchise industry, all of that changes. As your own boss you can work as much or as little as you want (and the hours that best suit you), so that you can achieve a significantly better work-life balance.
- Get away from the side effects of the Great Resignation
There is a huge labour shortage across the world right now, and the hospitality industry is taking the brunt of it. In fact, 4.3 million US people quit their jobs in January as the “Great Resignation” shows no signs of slowing down, according to the US Department of Labor’s JOLTS report.
This has seriously impacted the hospitality industry. Restaurants and hotels saw more of their workforce quit in February than employers did in virtually every other type of US business, with 6 percent of the hospitality industry’s total labor force walking off the job, according to new data from the US Bureau of Labor Statistics.
With employees quitting, wages rising and businesses understaffed due to the challenges of finding new workers, hospitality employees are being worked harder and longer than ever before.
Franchising offers a way out of that. It’s the chance to stay within the industry you love and have experience in, but, at the same time, move away from the long hours and strenuous work the sector demands.
- Be your own boss
Have you always dreamed of being your own boss? When you open a franchise business, you get to be your own boss with the added benefit of receiving training and support from the franchise’s knowledge base.
Owning a franchise gives you the benefit of being your own boss, without the huge risks associated with starting your own business from scratch. You get to create your own schedule and have autonomy in terms of how much you want to grow, all while benefiting from an existing brand reputation, ongoing support and access to a built-in customer base.
- The start-up costs are relatively low
While some franchises can be incredibly expensive to buy into, many others offer relatively low start-up costs. That means, when you choose the right franchise for your budget, you can become a business owner for a significantly lower start-up cost than it would typically take to build your own business from scratch.
Not only that, but when you open a franchise you are buying an established concept that has already proven to be successful. Statistics show that you have a much higher chance of success than if you were to launch a start-up business.
- It’s a time of change - take the opportunity!
Are you feeling burnt out from the past couple of years? Working in the hospitality industry has always been tough, but the past couple of years have been incredibly difficult. We’ve had to deal with sporadic business closures, staff shortages, high inflation, supply chain issues, long hours and hard work.
For many, this means it’s time for a break. But that doesn’t have to mean changing the industry you work in. Why not put your skills, expertise and knowledge into a new venture by becoming your own boss and opening a franchise. This could give you the well-needed change you’ve been looking for.
Interested in learning more about opening a franchise? Get in touch with Sculpture Hospitality today. We have a range of franchise opportunities with different investment opportunities, where you can become an expert in helping restaurants and bars grow their profits.
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