How Franchising Can Help You Live Your Values
Lauri Curran Greenberg
We guide executives in expanding their investment profile & planning their corporate escape | Dave and I did it through franchise ownership and can show you how. | Partner @The Empowered Franchisee
In my work as a franchise consultant, I see one dynamic play out over and over again: the burned-out corporate executive looking not just for a break from the rat race, but for a chance to do something more meaningful with his or her life. I’ve been there myself, and I’ve experienced firsthand how hard it is to live your values when you’re battling for a spot in the top ranks of the corporate world.
That’s part of the reason I decided to climb down off the proverbial ladder and become an executive franchise owner instead. Regardless of what type of franchise you buy, the increased freedom and flexibility of entrepreneurship can give you more opportunity to live your values. You can even take things one step further and focus on values-based franchising, which is a way to build greater meaning into the very fabric of your business.
Over the next few weeks, I’ll highlight some of the more specific ways that franchising can help you live your values. For now, however, let’s look at what living your values really means.
What It Means To Live Your Values
First and foremost, living your values means reprioritizing your life. Especially if you become an executive franchise owner, you can refocus your time and energy away from 60-hour workweeks and toward the people and goals that really matter to you.
Everyone has their own priorities, but I’ve noticed some common threads between the franchise candidates who contact me. Most often, they’re looking to commit more time and energy to one or more of the following values.
Family Time
Executives often work very long hours and travel for extended periods. They miss birthdays, anniversaries, and school events. Even when they’re with their families or on vacation, they may be constantly on call. Franchising provides a chance to reverse that pattern and spend more quality time with loved ones.
For me personally, this is perhaps the biggest benefit of being a franchise owner. My family is the most important thing in my life–and thanks to the freedom and flexibility of franchising, I can now live that value in a way that I couldn’t as a corporate executive. Just ask my wife and children.
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Better Health
According to the Mayo Clinic, executives are at high risk for a variety of physical and mental health problems, largely because of their long work hours and frequent travel. Many of my franchise candidates are feeling the impact of 10-20 years of high-stress work. They want to shift gears so they can take better care of themselves and ensure that they’ll be around to care for elderly parents, enjoy their golden years with their spouse, and play with their grandchildren.
This has been another significant benefit of franchising for me. Before I became a franchisee, it had been years since I’d been able to make time for regular exercise. My physical and mental health have both improved considerably, simply because I now have time to tend to them and less stress in my life overall.
Giving Back
Executives rarely have spare time for anything, including giving back to their communities. The franchise candidates I work with often find executive franchising especially appealing because they want more room in their schedules to volunteer in some way. Whether it connects directly with their business experience (e.g., helping a charity create a financial plan) or just something they care about (e.g., leading a mission trip or teaching adult literacy classes), they want to spend more of their time doing good.
Other candidates I work with are seeking a tighter connection between their work and their communities. After years of selling to faceless “consumers,” they’re looking to humanize their work. They want to create jobs for their neighbors, sponsor canned-food drives for the downtown soup kitchen, and support Little League teams and local schools.
Leaving a Meaningful Legacy
Will franchising help you build wealth so you can leave behind a solid inheritance for your children? Most likely. Will it help you model important values–like hard work, persistence, and courage–that will leave an even more important legacy for your family? Most definitely. Beyond that, as I’ve indicated above, franchising can also enable you to leave a legacy for your community. Overall, living your values through franchising is a chance to live a life with more purpose and meaning, one that’s a better reflection of who you really are and the mark you truly want to leave on the world.
Are you ready to find more purpose and meaning in your work? My team is here to help! Book a call with one of us today for personalized help finding the right franchise to fit your values.
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1yHey Lauri, good read and definitely opens the door for people who may not have or are starting to consider doing their own thing. As the wealth transfer of Baby Boomer era starts to close in further over the next 5, 10, and 20 years, what is the predominant reason I would want to be involved in a franchise as opposed to maybe purchasing a profitable business with operators and a management team already in place? You may think I'm offering up only two choices and pitting them against each other, just want to understand your take on it. Was talking to my wife about this recently and she finds franchising very attractive with less downside risk.