Who hasn’t dreamed at one time in their career of marching into the bosses’ office and uttering the words, “You can stick your pathetic job!”
An increasing number of Kiwis are quitting their jobs and buying franchises as an alternative career.
“The last reliable survey in 2001 suggested that 93 per cent of all new franchise businesses were still in business after the first three years,” says Simon Lord, editor of Franchise New Zealand.
Lord estimates there are around 20,000 individual franchisees in the country and says there are many reasons for buying into one.
Some franchisees want to work for themselves until retirement or set up a business to pass on to the children.
Others have a specific objective, such as one businessman who bought a run-down Robert Harris franchise with the plan to turn it around within three years and increase his net worth by $250,000.
In some ways franchising is a half-way house between paid employment and business ownership.As a franchisee you get systems and support from the franchisor, but to succeed you need to be more than an entrepreneur at heart.
Having a passion for the industry you choose is essential.
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