Determining what type of franchise you want is daunting enough—if it also means very long days and weeks and months, the prospect of being your boss might lose some of its sparkles.
Frankly, there is no definitive answer to the question that covers all franchises. But you will get a better idea of how many hours you will spend in your business as you delve deeper into your franchise options.
The Promise of Fortune
Just recently, a fortune cookie reminded me that “all things are hard before they get easy.” Rather than viewing the fortune as a heavy reminder of the need for hard work, I saw it as a promise of reward for dedication. For new business owners, dedication is fundamental to success, and it often comes with many tiring, stressful hours.
New franchisees must learn the business itself in addition to management functions. As a small business, particularly in retail, being present at a store is critical in developing relationships and returning customers. New businesses need you. A lot. But it will get easier over time.
Choose Your Time Wisely
Based on the franchise you choose, you will have an idea of the time commitment based on the industry. For example, a carpet cleaning franchise could choose to operate only four days a week instead of seven (if OK with the franchisor). Or a child-care service might only be open on weekday afternoons after school.
On the other hand, when I owned a postal service and shipping store, our hours were extended. The shopping center had minimum hour requirements, and we relied upon foot traffic for most of our revenue. Then, the holidays got churning as people shipped presents all over the world. From Black Friday until the end of January, shipping volume tripled, and it demanded more personnel and more hours. For us, with small kids who anxiously awaited Santa, it was a difficult season, but we knew it would help carry us in slower months.
Think it Through
You will consider many aspects of franchise ownership: investments, loans, fees, industry, location. Time is yet another aspect that plays a big role. Ask yourself a few questions that impact the hours you are willing to invest:
- Are you a control freak workaholic? If the answer is yes, you will probably put in more hours while being less willing to share responsibilities with someone else.
- Does the franchise model fit your expectations of seasonality or open hours?
- Do you have a spouse who understands that family demands will change?
- Is there something more sacred to you? Literally. If your adult sports league or Sunday morning rituals are a priority, that will determine how you are willing to spend your time.
- Are you ready to put in the effort now to ease back later? Many franchises are suitable for this. A good staff can ease your time burden once revenues are consistent.
- Does a semi-absentee franchise make more sense than a new, full-time site? Some franchises are designed for those who prefer to be part-time business owners.
So how many hours will you work as a new franchisee?
There is no single answer to the question. You must determine your priorities. It may be family time, weekends off, or part-time that matches your preferences.
For most, a new franchise means long days with after-hours spent catching up and learning more for the next day. But success is about what suits your needs, including the time you spend growing your franchise.
Know what is important, and think through what you are willing to do and what you might have to give up. It will be hard before it gets easy, but the hours spent in your franchise will be the ones you choose.
Source: Franchise Direct