Your Next Best Franchisee Candidate May Be Unemployed
Yes – you read that right. You may just find your next best franchisee candidate in the “currently unemployed” pool. While there is this stigma around the unemployed that they are lazy, or not an ideal candidate for purchasing a franchise, this is often completely false and not based on facts. Considering the economy downturns, increased layoffs, and businesses downsizing in recent years, unemployment has certainly become less “shocking” and is often not due to the incapability of the employee, but simply the need to downsize with layoffs. At this point you may be saying to yourself, “Ok, but how does this make them a good franchise candidate?” – well, here’s why.
Imagine you are currently employed in a corporate industry where you are making a steady salary of $100,000+ a year. You clearly have the capital to invest in purchasing a franchise, yes, but how quickly and easily could you honestly make a decision to leave that large, and steady salary, for something often risky, like purchasing a business?
While the potential in purchasing a franchise is limitless, initially, you will likely take a loss as it takes time to break even. It makes you stop and think – “do I really want to give up this assured check of over $8,000 a month for something that isn’t guaranteed?” Of course, for those that are truly passionate about owning their own business, the answer to this question will be yes, it’s worth it, but regardless, you will certainly stop to think and weigh your options.
Looking at franchise opportunities is much more open-ended and relaxed when one is currently working and making good money. Because of this, the already employed will pull the trigger much slower, and not feel any sort of pressure to buy. With a steady salaried job like this, this person isn’t faced with “needing” a career change, but rather with “wanting” one. Additionally, if this candidate is not willing to leave their day job immediately after purchasing their franchise, they will likely not be able to put in the full amount of time needed to get their business up and running successfully.
Now on the other hand, let’s focus on the unemployed franchisee candidate. For this person, it’s not about “wants” or contemplating a career change, it is about “needs”. This person is unemployed and all they can focus on is wanting to not be unemployed. It is quite simple really. Because of this, they are often highly motivated, and highly focused. When you are unemployed and in need of work, it is much easier and more realistic to be open to new opportunities and a career change.
Knowing that finding a new job will likely not produce the salary you’d hoped for, or that you need, franchising becomes a very real and interesting option. In addition to the limited available job opportunities, it is likely that you will always possess this insecure fear of being laid off again in any future job. However, when you are the owner, you don’t have to have this fear. Being unemployed has taught you how to work hard and keep your eye on the prize. It has also given you the drive to succeed no matter what it takes, because there is no other option.
This drive and this need to be successful is perfect for franchising, because truly, in a franchise model the success is in your own hands. What you put into the business is what you will get back.
Although, “being your own boss” may sound nice to everyone, this is often not enough to make someone walk away from a six-figure salary, regardless of how much they may hate their job. Whereas, that candidate that is an ex-employee that is hardworking and determined, but recently got hit in the face with a layoff, is driven by need. They are going to work hard, because they need to, and they are likely not only open to, but extremely intrigued by, a franchise model. A franchise model allows for you to be your own boss and the owner, while also starting with a foundation and business model that guarantees a quicker ramp up to success, and comes with less risk. This candidate knows that if they follow the system and they work hard (which they will) they can and will be extremely successful.
So, which franchisee candidate would you prefer? One that is hesitant to leave their high paying job, or one that is driven by need and is fully committed to doing whatever it takes to be successful in this new role?
Interested in The Brothers that just do Gutters Franchising opportunities? Contact Ken today for more information!