Refugees are a hot topic these days, but not all of them come from other countries. There’s been a rise in what’s been coined “corporate refugees” recently: people who become concerned with their job security, due to the economy or other factors, who seek other options to bringing home the bacon. Some become refugees by choice, while others are forced into becoming refugees when they are laid off.
Many of these corporate refugees are leaving Corporate America in favor of buying a franchise.
Why Corporate Refugees Make Great Franchisees
While some corporate refugees may decide to find another job or start a business from scratch, a high number of them are buying franchises . It makes sense: because these professionals are accustomed to having processes and procedures in the corporate world, an established franchising system is familiar and safe, and yet provides the opportunity for them to become business owners.
Buying a franchise with a known brand isn’t as risky as starting a new concept from the ground up. There’s a proven track record of successful franchisees with a given franchise brand, which helps soften the risk when an individual decides to quit (or is let go) of a stable job with a steady paycheck.
And because so much of the work has already been done by the franchisor, it can take less time to get to profitability and success when buying a franchise rather than starting a business.
People who have worked in the corporate world tend to be savvy about business, making them well-qualified to run franchises and oversee all different aspects of running a company, from hiring to marketing.
Change is a Good Thing
While some corporate-refugees-turned-franchisees may end up continuing to use their previous experience and skills, others may start in an area they have no experience in, in an effort to start with a clean slate. They may thrive on transitioning from, as an example, working as an accountant to then owning an ice cream franchise.
Getting out of a professional rut is like a shot of caffeine to the brain; learning new skills can provide enthusiasm after decades of doing the same job.
And no matter what a corporate refugee once did, one of his primary new roles will be sales . He will now be responsible for the success of his business, and that will require all parts of his brain to be on fire simultaneously.
The future of the economic state may not be clear just yet, but one thing is certain: franchising will always provide a safety valve when jobs are less than secure.
Susan Guillory is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.