By Marshall Reddy
4.6 years. That’s the median tenure of hourly and salary employees across the United States, according to a 2014 U.S. Bureau of Labor Statistics report. And that number has not changed much over the past five years. In fact, some studies show that median job tenure figures are actually decreasing further. That trend is a far cry from what would be expected 20 years ago. With so much churn in the U.S. workforce, one big question is raised, “Where is everyone going?”
Employees Are Leaving…Here’s Why
Most salary and hourly employees who leave one job usually move to another job in their respective fields. However, there have always been those who make big, really huge career moves. A select few, brave souls move out of the rank and file of corporate America. There are those who say, “I need something different.”
A study by Accenture reports that Americans are quitting for the following reasons:
1) They don’t like their boss (31%)
2) A lack of empowerment (31%)
3) Internal politics (35%)
4) Lack of recognition (43%)
What better way is there to fix those problems than, launching a business?
A Business Insider survey of 225 executives reports 22 percent want to launch their own businesses. And many often do just that. Some of them fail while others hit their stride early on in the startup process. But here’s the catch: Just about every business owner or startup leader will tell you that business ownership is not all daisies and roses. Starting a business is tough. If it wasn’t, than more people would do it. It takes vision, clear goals, cash, patience, cash, a great support team, cash, a little more patience, hard work, early mornings, late nights, and, oh yeah, cash to start a business.
Perhaps you are one of the nearly 2 million people who are exploring new job opportunities each month. And perhaps you have what it takes to launch your own business – the cash, patience, vision, goals, etc. Some people, the Steve Jobs of the world, have crystal clear vision and laser-focused determination when it comes to launching a business. But for the rest of us, we just want the freedom that comes from owning a business. In some cases, owning just about any business would be ideal, just as long as YOU are the owner.
Owning a Franchise is Owning a Business
Have you considered owning a franchise? If you’re on the fence about what kind of business to start, yet you know in your heart that you must start your own business, why not start with a little help and the assurance that comes from proven success? Franchises are often overlooked alternatives to starting a business from scratch. And still, owning a franchise can mean just as much hard work as what would be required if you were to start a business from the ground up. Franchises come with all of the long nights and initial needs of many other types of startups, but they also come with some huge benefits.
Benefits of Owning a Franchise
Here are a few of the key benefits of owning a franchise versus starting a business from scratch:
- A large business network or franchisor that can help with site selection, design, construction, financing, training, and a grand-openings.
- Ongoing support through training in national and regional advertising and operating procedures, operational assistance, ongoing supervision and management support, increased spending power, and access to bulk purchasing.
- Hundreds of franchises to choose from with a wide range of requirements, features, benefits, and goals.
If you’re ready to take control of your career by paving your own path through business ownership, it won’t be easy, but it can be more rewarding than anything else that you’ve ever experienced. For newbies to the business ownership club or those who are looking for an alternative to the traditional business startup process, owning a franchise may be the best course of action. For more information about owning a franchise or to learn which specific franchises are on the market near you, contact me or visit my blog.