Taking the “Leap of Faith” by buying a franchise
Lime Licensing’s Kevin Thomas explains why buying into a second franchise system worked for him.
Buying a franchise can be a life-changing decision, believe me, I know. Seven years ago I decided I wanted to work for myself, so I gave up a senior position in the corporate world and bought my first franchise.
After a lot of soul searching and weeks of research, I took that “leap of faith” and decided upon a mobile coffee franchise. Why? Well, it matched all of my reasons for leaving a salaried position. I was my own boss in a growing market. I was still involved in sales, and it allowed me to have the work-life balance that I, and more importantly my wife wanted.
Raft of emotions
It sounds easy, but I went through a whole raft of emotions in the build-up to buying a franchise. The biggest concern was what am I actually handing my hard earned cash over for? There are no guarantees when you buy a franchise, it is still a job, and you will only get out of it what you put in.
One thought that never entered my head was “what if I fail?” If you go into a new venture with this in your head there is probably only one outcome.
To cut a long story short, I had six great years running my business and sold it for a profit. Now what? Well, I found franchising very rewarding and so I bought another franchise. This time as a Lime Licensing Group Regional Director assisting others who are considering buying a franchise. Six months down the line I am running another successful business.
Things to consider
My advice if you are looking to go into franchising is simple:
- Find a business that meets your wants and needs
- Research the franchise thoroughly
- Remember there are no guarantees
- Be positive
- Don’t be a “what if?” or “if only..” person, make the decision
Seven years ago I took that “leap of faith” and I can honestly say it was the best decision I have ever made.
Kevin now advises potential franchise owners and offers a free service to assist anyone considering joining any franchise system. His advice is always free of charge. Kevin can be contacted here.