If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask an expert about how you can make the transition to franchise ownership.
In this edition of “Ask the Board,” we asked Kevin Boesen, a pharmacist, professor, the former CEO of SinfoniaRx, and the current owner of Body Fit Training studio, a gym franchise in Tucson, Arizona, to share his tips on how to successfully switch from a traditional career to franchise ownership.
If you're longing for a way to leave your 9-to-5 job or pursue your dream of being your own boss, owning a franchise might make sense. With hard work, dedication, and an open mind, it may be the ultimate way to earn a living. Here are some tips that may help you out.
Trust yourself
Don't let fear of failure stop you from chasing a dream. As Cody Johnson says, "If you got a dream, chase it, 'cause a dream won't chase you back." All transitions in life are challenging. Graduating, getting married, buying a house, and having kids are all stressful events. The only thing holding you back is yourself.
You've successfully navigated stressful transitions your entire life. Why should a career change be any different? The traits that have made you successful can translate to franchise ownership. Leadership, hard work, and attention to detail are the core skills that drive success.
Find your people
Opening a business is stressful. You want to ensure you have a good support system, including a support system for yourself. You'll need to lean on people outside the business to support and ground you.
Find family and friends who will remind you why you made the move — people who will encourage you and celebrate your success. Also, find a good team to support the business.
Folks you hire early on need to understand that your business is a work in progress. It won't be a traditional job. You want to find people who enjoy working hard, who can problem-solve, and who can adapt to change.
Growing the business is a journey. Success only comes after months or years of hard work.Kevin Boesen, pharmacist, professor, and entrepreneur
Listen to the experts
The benefit of franchise ownership is the corporate playbook. Franchisors offer franchise owners resources to support opening, operating, and growing your business.
Follow the model. Also, seek out other franchise owners. Most are eager to share their experience, and they are also invested in your success.
Think long term
Growing the business is a journey. Success only comes after months or years of hard work.
Try not to judge your progress too harshly. Always think about how you want your business to look six months or a year from now. By thinking long term, you’ll make better business decisions, and you will also take the day-to-day struggles in stride.
Remember your 'why'
Take time to remember why you made the move. I opened a Body Fit Training franchise to make my own decisions, travel less, and improve my health.
Even on a bad day, I made the call, slept in my own bed, and worked out. On good days, I love everything about it. I’m grateful for every day that I have the opportunity to chase my dream.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Your hard work deserves to be rewarded! Apply for our premier small business awards program, the CO—100, to earn national media attention, get VIP access to premium networking events, and potentially be awarded $25,000! Apply and learn more, here.
