The corporate world can feel like a merry-go-round; stable on the surface but spinning faster with every restructuring. If you’ve recently found yourself wondering whether it’s time to jump off, you’re not alone. Many professionals dream of owning a business but get stuck on one big question: “Where do I even start?”
Here’s the truth. There’s a proven process to help you move confidently from corporate employee to business owner. It starts with answering five critical questions to determine if business ownership, and specifically franchising, is the right fit for you.
Trusting the Jump
When I was six, I stood at the edge of a hotel pool, frozen. I’d fallen into Wamplers Lake the year before while wearing casts on both legs, and water had terrified me ever since. But here I was, staring at the pool, with my dad in the water saying, “Jump. I’ll catch you.”
I wanted to believe him. Fear told me not to. But I took a deep breath and jumped anyway. He caught me, just like he said he would. By the next summer, I was competing on a swim team, ranking among the top five in my county.
The lesson? Fear never goes away, but trust, backed by a plan, turns hesitation into action.
The Challenge
Thinking about owning a business is easy. Doing it? That’s the leap. This decision is almost as big as choosing a spouse and buying a house.
Fear manifests in questions:
- What if I fail?
- Where do I even begin with 4,500+ franchise brands to choose from?
- Is this the right path for me and my family?
A recent study by Gallup reveals that 62% of Americans prefer to run their own business rather than work for someone else. However, data from Louisa Zhou indicates that in 2023, 10.1% of U.S. adults owned a business.
Regarding franchise ownership, data indicates there are roughly 712,000 franchise owners in the U.S. from Zippia. This suggests that franchise owners represent approximately 0.4% of the U.S. workforce. This significant gap highlights the challenges and barriers many face in transitioning from aspiration to action.
Phase 1: Building the Foundation
Before you make the leap, you need a solid foundation. That’s where we begin.
Step one is understanding your strengths, passions, and goals. Tools like the confidential questionnaire and Zorakle assessment help us focus on what’s important:
- Your transferable skills.
- The lifestyle and financial security you want to create.
- The impact and legacy of your vision in your community.
The Zorakle assessment evaluates your entrepreneurial strengths and helps identify industries and franchises where you’ll thrive. Think of it as your compass, guiding you to the right path.
Then, we tackle the first 2 questions:
- Is business ownership the right path for you and your family?
- If yes, is franchising the best option among starting from scratch, buying an existing business, or investing in a franchise?
Think of this phase as laying the groundwork for a house. Without a strong foundation, nothing you build will last.
Why This Matters
This isn’t about taking blind risks. It’s about intentional decisions.
For example, a client of mine had spent 20 years climbing the corporate ladder. After the last round of layoffs, she wanted independence but didn’t know where to start. Through assessments and conversations, we discovered her passion for wellness. Franchising gave her a proven model to work with, and within a year from our first conversation, she was running a successful boutique fitness studio.
Her success wasn’t random. It was the result of deliberate planning and a clear process.
What’s Next?
So, here’s the question: Are you ready to explore what’s possible?
If the answer is yes, let’s talk. My process ensures that you don’t jump into the unknown without support. We work together to answer the big questions, find the right path, and build something that aligns with your vision. Our conversation is about helping you explore possibilities, not making commitments.
Don’t wait. Your future is worth one conversation.
Luke Frey: Franchise Leadership Expert and Author
Luke Frey is a seasoned franchise strategist with over two decades of experience in leadership and business development. His journey from the front lines as a fire chief to the helm of his own successful franchise has equipped him with unique insights into the challenges and triumphs of franchise ownership. As the author of Your Guide to 90-Day Success: The Franchisee’s Strategy for Early Wins, Luke empowers franchisees to achieve early wins and sustainable growth by shortening the steep learning curve of business ownership.
Passionate about helping others succeed, Luke offers actionable strategies that blend practical business acumen with a deep understanding of human dynamics. Through his work, he’s committed to shaping the future of franchising, one successful business at a time.