How Franchising Can Help You Be the Parent (or Grandparent) You Want to Be
David. Greenberg
Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
Every family is unique–but no matter where or who you are, if you’re a parent, you probably want to do everything you can to provide the best possible life for your children. And if you have grandchildren, you probably feel the same way about them. Did you know that franchising can help you achieve that goal?
Franchising Creates Opportunity
I have two children, a son and a daughter. They’re now adults, but when they were growing up, one of my primary goals was to provide opportunity for them. I wanted to do everything I could to ensure they got a successful start in life. Franchising can help you do the same for your children or grandchildren.
Franchising is a wealth-building opportunity, and you can use that wealth to provide both educational and occupational opportunity for your children or grandchildren. Younger and teenage children can benefit from extracurricular enrichment: sports, science camps, art lessons, and more. Wealth from franchising can also help fund college or vocational training, or even enable you to invest in an entrepreneurial child or grandchild’s first business. You may also be able to help your child purchase a first home, putting them on the path to accumulating high-value assets.
Franchising Provides Flexibility
Opportunity is important, but our time is always the most valuable thing we can give our kids or grandkids. This is where franchising really outshines a traditional, 9-to-5 job. With a wealth of options available, you can tailor your choice of franchise to suit your desired work-life balance.
Have young kids? A home-based franchise will enable you to reduce the time they have to be in daycare. If you have a brick-and-mortar franchise, you can have your children at work with you after school–or turn the business over to a manager at 3 p.m. and go home for the day. Are you close to retirement and hoping to spend more time with your grandchildren? With an executive-owner franchise, you can stay just busy enough to avoid boredom but have plenty of time for family.
The key is flexibility. The huge variety of available franchises, coupled with the empowerment of entrepreneurship, will change the relationship between your life and your work. You’ll be able to choose when, where, and how you work, so you can maximize your time spent doing what really matters to you.
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Franchising Creates a Legacy
Legacy is extremely important to parents and grandparents. We all want to pass down something meaningful to our children and grandchildren. With franchising, you create a multi-faceted legacy. Through the wealth created from franchising, you can leave a financial inheritance that materially benefits your children and grandchildren.
But the legacy of franchising is so much bigger than that. Your example as an entrepreneur, the experience of observing or even working with you in the business, seeing your business benefit the community–these are all parts of the well-rounded legacy that franchisees leave behind.
Franchising Teaches Life Lessons
When you think about franchising, you may think of the learning opportunity for yourself. But did you know that you can also use it to provide learning opportunities for your children or grandchildren? On the one hand, simply watching you become an entrepreneur can teach them life lessons about independence, persistence, priorities, and going after their dreams.
If they visit your business, they may get the opportunity to interact with people they wouldn’t normally encounter, whether that’s your employees or your customers. That’s the kind of experience that teaches valuable interpersonal skills, compassion, and confidence–all crucial for becoming a productive and successful professional and citizen. Finally, if you choose to set up your franchise as a family business, your children or grandchildren can learn additional lessons about financial management, leadership, and other important skills.
At the end of the day, all these advantages work toward one goal: the well-being of your children or grandchildren. And isn’t that what every parent or grandparent wants? It’s definitely what makes me and Lauri happiest in life. Book a call with one of us today to get started on achieving your dreams for your family!
This content originally appeared on https://empoweredfranchisee.com/.