If you are an experienced executive who has recently faced redundancy, you are not alone. Many professionals are turning to franchising as a way to apply their leadership, strategic, and management skills toward owning a business with structure and support.
Before you invest, take a step back and assess both the franchise and yourself. The following checklist will help you evaluate whether you are ready to make the move with confidence and clarity.
- Evaluate the Franchise Itself
Start by understanding the strength of the brand and its position in the market.
Ask yourself:
Is the franchise well established, with a solid reputation and trading history?
Does it operate in a market that continues to grow despite economic shifts and automation trends?
How well is the business system organized and managed?
Look for signs of professional leadership, consistent franchisee performance, and strong customer demand.
- Assess Your Own Strengths
Moving from corporate life to business ownership is a major transition.
Consider your transferable skills:
Are you confident managing teams, handling sales, and building client relationships?
Do you prefer to work independently, or will you involve family members or hire staff?
How comfortable are you with hands-on operational work compared to strategic planning?
The clearer you are about your strengths and gaps, the smoother your shift into ownership will be.
- Understand the Level of Franchisor Support
Support varies widely between franchises.
Clarify:
What type of initial training is included and how long it lasts.
What ongoing guidance you receive in areas like marketing, technology, and operations.
How accessible the head office team is when issues arise.
Strong franchisors combine structure with responsiveness, helping you stay focused on building the business rather than solving every problem alone.
- Review Your Financial Position
Be honest about your finances before applying for funding.
Outline:
The amount you intend to borrow and the total investment required.
Your personal assets, existing debts, and available capital.
How you plan to repay the loan and what security you can offer.
This transparency not only strengthens your loan application but also helps you decide what level of investment feels sustainable.
- Forecast Business Performance
Work with the franchisor and your accountant to model realistic projections.
Review:
Expected sales during the first year and how long it may take to reach break-even.
Monthly operating costs, including royalties, rent, and marketing.
Cash flow to ensure you can meet obligations and still draw a fair income.
A franchise should offer both potential and stability, not just excitement on paper.
- Get Familiar with the Details
Before signing, make sure you understand the full agreement and financial structure. Consult a lawyer and an accountant to clarify terms, fees, and obligations. You do not need to become an expert in franchise law, but you should know what you are committing to.
- Review Your Track Record
Your background matters to both lenders and franchisors.
Be prepared to discuss:
Previous business or management experience.
Your credit history and any lessons learned from past challenges.
How your corporate experience equips you for ownership.
Your history as a decision-maker and leader is a strength. Pair it with preparation and realism, and franchising can become a meaningful next chapter.
If you would like initial guidance and support as you explore franchise opportunities, book a call.