4 Ways Franchise Ownership Helps Meet Personal Goals

There’s a strong connection between our professional work and personal life, with each often influencing the other. For example, when we advance at work, we may have the resources to do more at home. When we feel happy at home, we can bring that joy to work. 

In my role with Neighborly, I’ve seen many ways franchise owners can use the skills they learn on the job to help them meet their personal goals. Here are the top examples.

No. 1: Leverage Leadership

Franchise owners are the heart and soul of the business. As such, they’re challenged to lead their companies in several different ways, from sales and marketing to technology and operations. Learning best practices and skills in each of these areas is key to business growth, and Neighborly provides franchise owners with the coaching and mentoring they need to guide and expand their businesses. 

The leadership knowledge learned on the job can be applied to just about anything in your personal life, from running a household to coaching little league. 

No. 2: Financial Finesse

Starting a business requires determination and dedication. When you’re a franchise owner, you’ve got a strong and mighty system of support you can tap into whenever you need it. For example, franchisees enjoy instant brand recognition in the marketplace. As such, your business can leverage dedicated resources for marketing, operations, and systems to optimize business performance and growth. And at Neighborly, our franchise owners also work with a dedicated operations team that helps with annual budgets (sales and profit targets), growth expansion plans, and even recruiting. 

The finance and business growth skills you learn as a franchise owner can be applied to household budgeting, large purchases, or even saving for college and retirement.

No. 3: Goal Setting and Benchmarking

One of the best ways to quantify your business success is by setting benchmarks and goals for growth. Make these goals realistic. Avoid overly aggressive objectives because if you fall short, you may feel like you failed when in reality, the target was nearly impossible to reach in the first place. 

Once you’ve defined your goals, share those targets with the entire team so everyone knows what to expect and can commit to reaching the desired result. And then develop progress reports so you can measure how the performance is tracking against those goals. Correct course as needed. 

This same plan can be applied to almost anything in your personal life, from starting a new hobby to saving for a vacation. 

No. 4: Find Balance

The ultimate secret to success is having the right work-life balance that makes you happy. Franchise ownership provides the autonomy and support necessary to set your schedule according to your life. When franchise owners follow the Neighborly system, they can run their businesses without the need for full-time supervision. This is because our model supports having a business manager who handles many of the day-to-day duties, freeing up the business owner to spend more time outside of work. 

Franchise ownership offers many benefits: business ownership, autonomy with support, and the freedom to set your own schedule. And when your job can offer business skills that translate into life skills, it’s a win-win situation all around.

Ready to meet your goals? Learn more about franchising with Neighborly. 


Written By Brian Woods, Group VP, Franchise Development, Neighborly on LinkedIn

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