Once the plan to set out onto the self-employment path through franchising is underway, many newcomers to business operation can conduct an honest survey of just how home life will blend with this new situation. Managing the ins and outs of a business week by week can be likened to having another individual in the house to look after.
All individuals interested in running a franchise have to at some point sit down and closely evaluate the potential risks, challenges, and benefits associated with taking on this new career. Whether or not the additional responsibility is feasible for you and your particular situation depends on a great many things. Happiness lies in balancing the many roles we take on in life, and franchising must fit in with these other roles to be accomplished most successfully.
Significant other to consider? Children to raise? Family members that require care? Whether single or part of a multi-person family, all types of family situations require at least some consideration. Running a business can be hard work and franchisees certainly need the support of family if they are to maintain a healthy balance. Emotional and mental support is critical.
So the franchise system you’ve chosen and your new role makes you happy. That’s a start, but does it make the most important people in your life happy too? Pioneering a business alone without family encouragement and enthusiasm certainly has its downfalls whereas having the support of one’s intimate circle contributes to a functional situation, one that fosters longevity and a healthy business owner.
To widen your life enough to comfortably fit a franchise business in, consider how this change will impact your loved ones and how to buffer certain changes and enhance others. There is no one-size-fits-all preparation. Just remember that all current franchisees have to juggle on multiple fronts and all current franchisees have had to evaluate (and re-evaluate) how to give energy in a balanced way to all the different areas of their lives. That kind of balance is not developed without practice, effort, and acquiring the feedback of those around you to create a workable plan.
Ask your loved ones what their fears are and what excites them about your stepping into franchising to get an idea of how they may perceive this new shift. Take time to get to know your potential franchisor’s views on family and work life balance. Don’t be afraid to ask other franchisees how they’ve dealt with challenges, how their families adjusted, and how they’re receiving the support they need. Be ready to perform an ongoing assessment of your family’s wellbeing and involvement as you manage your franchise business.