What is your legacy? It’s a question most of us are often too busy to ponder, but it’s an important one. What are you leaving behind when you retire?
Franchises offer an incredible opportunity to build a legacy and leave something behind for your loved ones. Think of it this way: a regular 9-to-5 job leaves you working for someone else, unrecognized and unremembered once you bow out. But owning your own business allows you to make an impact on your family — and your employees — for years to come. You get to dictate the ethics and principles you want guiding your company; what could be better than that?
Another thing that makes franchises perfect for legacy building is the 10-year agreement that comes with most franchise opportunities. After 10 years you have the opportunity to renew if the business is going well, meaning you have access to another 10 years worth of training, support, systems, and software without paying an additional franchise fee. And if things aren’t working out, you can terminate your agreement and walk way.
Now your children or spouse may have no interest in franchising once you have bowed out of the business. And that’s another bonus. Even if they don’t want to be involved, the franchise support system is still there to help keep things running. And if they decide they do have an interest in the business, the franchise will provide training for new owners, partners, and employees.
If you are looking for a way to set your family up for a stable future, franchising might be the perfect option for you. These businesses are able to franchise because they have a proven record of success. Why not be a part of that and leave a lasting legacy for your family?