Corporate Exodus

The corporate exodus is still a real thing. Why is franchising the ultimate escape route for corporate employees? As corporate employees and managers navigate their career paths, they often seek avenues that provide stability, structure, and the opportunity for growth. Let’s face it, COVID has us wanting to control our destiny and not be tied down with sitting in an office all day with a mediocre paycheck. We’ve learned to manage our time better and enjoy some freedoms of being productive with an 8-hour or less workday.

Unlike 2021 and 2022, most people are staying in Corporate America because of the risk and uncertainty. A new study shows more people are leaving companies for more pay and flexibility. Starting a business is still an option and there’s an option which may be better for you than starting your own business. Franchising presents an enticing option that aligns well with some people’s skill sets, experiences, and aspirations. Here are several interesting reasons corporate professionals should transition into franchise ownership.

Structured Business Model

Corporate environments thrive on structure and standardized processes. Similarly, franchising offers a well-defined business model with established protocols, operational procedures, and brand guidelines. This familiarity ensures a smooth transition for corporate employees, allowing them to leverage their experience in adhering to and optimizing structured systems.

Efficiency is paramount in both corporate settings and franchising. Corporate employees possess valuable expertise in streamlining operations, optimizing workflows, and maximizing productivity. These skills seamlessly translate into the franchise realm, enabling owners to enhance operational efficiency and drive profitability.

Lower Risk

The Corporate Exodus (or Great Resignation) at the beginning of COVID posed a lot of risk. Some even said starting your own business was career suicide. Franchising offers a lower risk alternative to starting a business from scratch. For recently laid-off employees with severance packages and savings, investing in a franchise presents a viable opportunity to mitigate financial risks while pursuing entrepreneurship. Franchises provide a proven business model, established brand recognition, and ongoing support from the franchisor. This reduces the inherent risks associated with independent ventures.

Brand Recognition and Support

Franchise owners benefit from the established brand recognition and marketing support provided by the franchisor. Corporate professionals transitioning into franchising can leverage the brand’s reputation and market presence to attract customers, drive sales, and speed up business growth. Franchisors offer comprehensive training, operational guidance, and ongoing help to ensure the success of their franchisees.

Brings Work-Life Balance

Many corporate employees seek greater autonomy and work-life balance in their careers. Franchise ownership offers flexibility in managing schedules, delegating responsibilities, and achieving personal and professional fulfillment. With the right systems in place, franchise owners can pursue their passions while building a business. The FTC noncompete ban may allow employees to be a franchise owner without leaving their jobs.

When you’re thinking about the corporate exodus, many people automatically move to starting their own businesses. Franchising presents an appealing opportunity for corporate employees and managers to embark on a new entrepreneurial journey. With its structured business model, operational efficiency, business acumen, leadership experience, and mitigated risks, franchising aligns well with the skill sets and aspirations of corporate professionals. Whether seeking stability after a layoff or exploring avenues for growth and independence, there are options. Franchising offers a pathway to success in the dynamic world of entrepreneurship which is what corporate employees want anyway.

Let Colarity help you find the right franchise for you so you can also have the freedoms you’ve always wanted. We’ll also help you build a strategy to grow your franchise whether you start a new one or buy an existing franchise.