{"id":21946,"date":"2024-02-08T15:04:51","date_gmt":"2024-02-08T20:04:51","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=21946"},"modified":"2024-02-18T16:25:30","modified_gmt":"2024-02-18T21:25:30","slug":"the-part-of-owning-a-franchise-no-one-talks-about","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/the-part-of-owning-a-franchise-no-one-talks-about","title":{"rendered":"Franchising And Your Family"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-46077\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising.jpg\" alt=\"talking to your family about franchising\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising.jpg 1000w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-620x414.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-768x512.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-370x247.jpg 370w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-270x180.jpg 270w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-570x380.jpg 570w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/family-and-franchising-740x494.jpg 740w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><br \/>\nIn this post, I&#8217;m going to focus on <strong>franchising and your family<\/strong>.<\/p>\n<p>That&#8217;s because it&#8217;s something that&#8217;s not talked about nearly enough by people looking to buy a franchise-and those who offer <a href=\"https:\/\/www.thefranchiseking.com\/381-billion-reasons\">franchise opportunities for sale<\/a>.<\/p>\n<h2>A Promise From Me: Buying And Owning A Franchise <em>Will<\/em> Affect Your Family<\/h2>\n<p>Your decision to own a franchise&#8230;to be your own boss, is going to affect your family a lot.<\/p>\n<p>And as harsh as it sounds, it would be extremely selfish of you to dismiss the impact your decision will have on your family.<\/p>\n<h2>On Owning A Franchise<\/h2>\n<p>When it comes to owning a franchise, <a title=\"things that increase your chances of success as a franchise owner\" href=\"https:\/\/www.thefranchiseking.com\/the-top-10-things-franchise-owners-need-to-do-to-be-successful\">there are lots of things you can do<\/a> to increase your chances of <a href=\"https:\/\/www.thefranchiseking.com\/shocking-franchise-success-failure-statistics-revealed\">franchise business success<\/a>.<\/p>\n<ul>\n<li>You need to make a good choice in a franchise<\/li>\n<li>You need to make sure you can <a title=\"net worth calculator\" href=\"https:\/\/www.thefranchiseking.com\/free-net-worth-calculator-from-the-franchise-king\">afford<\/a> it<\/li>\n<li>You must do good <a title=\"research a profitable franchise\" href=\"https:\/\/www.thefranchiseking.com\/money-making-franchise-opportunities-part-3-research\">research<\/a><\/li>\n<li>You need to write a strong (<em>and flexible<\/em>) business plan<\/li>\n<li>You need to be ready to work harder than you&#8217;ve ever worked in your life<\/li>\n<\/ul>\n<p>In short, buying and owning a franchise business is serious stuff; you need to treat it as such.<\/p>\n<h2>Franchising And Your Family: Schedule A Family Meeting<\/h2>\n<p>Before you get too far down the franchise buying road, I want you to schedule a formal meeting with your immediate family members.<\/p>\n<p>During this meeting, you need to <a href=\"https:\/\/www.thefranchiseking.com\/best-reasons-to-purchase-franchise\">share the reasons why you\u2019re thinking of going this route<\/a>. Now this is important.<\/p>\n<p><em>Tell them you\u2019re committed to <a href=\"https:\/\/www.thefranchiseking.com\/complete-introduction-to-franchising\">learning all you can about franchising<\/a><\/em>.<\/p>\n<p>Then, have a discussion about your finances (<em>not in front of the kids, obviously<\/em>). Talk about how much you&#8217;re willing to risk. But be honest about some of the financial risks associated with going into business&#8230;any business.<\/p>\n<p>Next, ask for their feedback. Have them voice their concerns. And if they happen to be frightened about your idea, be empathetic. Ask them what you can do to alleviate their fears.<\/p>\n<h2>The Part of Owning A Franchise No One Talks About<\/h2>\n<p>I get it; scheduling a sit-down with your family on a subject that may not excite them isn&#8217;t on the top of your list of things to do. Especially since you&#8217;re going to be talking about one thing no one else usually bothers to share about franchise ownership. \u00a0But you need to do it (<em>sooner rather than later<\/em>).<\/p>\n<p>The truth is, you need to put it all out there.<\/p>\n<p>That means you need to share your story. Tell them <em>why<\/em> you want to\u00a0do this. Tell them why you want to do it <em>now<\/em>. Tell them about the risks involved. Then be quiet. Just listen.<\/p>\n<p>I&#8217;d be willing to wager that they&#8217;re going to share their concerns. And they&#8217;re going to want to know how their lives will be affected, including worst-case scenarios.<\/p>\n<p><em>They&#8217;re also going to want to know if they&#8217;re going to be seeing you less<\/em>.<\/p>\n<p>This is where you need to tell them <a href=\"https:\/\/www.thefranchiseking.com\/problem-franchise-rankings\">the truth<\/a>. You need to tell them the thing that no one wants to talk about when it comes to owning a franchise business-or <em>any<\/em> type of business.<\/p>\n<p><strong>You need to tell them that you&#8217;re not going to be home\u00a0much<\/strong>.<\/p>\n<p>If you have kids, they&#8217;re going to be sad. And mad, too, potentially.<\/p>\n<p>But don&#8217;t walk it back. Don&#8217;t tell them &#8220;<em>It will only be for a little while<\/em>.&#8221; Because it won&#8217;t. Franchise ownership means long hours. <em>Period<\/em>. But it&#8217;s not all bad news.<\/p>\n<p>That&#8217;s because after you&#8217;re an established franchise owner, and you have some managers in place, you&#8217;ll <em>probably<\/em> be able to have more flexibility. You <em>should<\/em> be able to spend more time with your family. But it&#8217;s going to take a while. Years probably. But they need to know. Right?<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/owning-a-franchise-no-one-tell-them-this.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-21951\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/owning-a-franchise-no-one-tell-them-this-620x402.jpg\" alt=\"family time when owning a franchise\" width=\"640\" height=\"402\" \/><\/a><\/p>\n<h2>Share The Good Stuff About Owning A Franchise<\/h2>\n<p>When it comes to your family and franchising, you need to share what you&#8217;re hoping <a href=\"https:\/\/www.thefranchiseking.com\/own-a-plumbing-franchise\">franchise<\/a> ownership can do for them&#8230;for you.<\/p>\n<p>So share your goals with them.<\/p>\n<p>Tell them how you envision things working out. Tell them how their lives can and <em>will<\/em> change if things go the way you&#8217;ve planned. Use your words to paint a picture of what success will look like.<\/p>\n<p><strong>The bottom line:<\/strong> Involve your family as much as possible. Talk with them a lot before and during the process of buying and starting your franchise business.<\/p>\n<p>You&#8217;ll be glad you did.<\/p>\n<p>Here&#8217;s to your success!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this post, I&rsquo;m going to focus on franchising and your family. That&rsquo;s because it&rsquo;s something that&rsquo;s not talked about nearly enough by people looking to buy a franchise-and those who offer franchise opportunities for sale. A Promise From Me: Buying And Owning A Franchise Will Affect Your Family Your decision to own a franchise&hellip;to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":46077,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[2123,2119],"tags":[1538,1786],"class_list":["post-21946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-franchise-business","category-find-a-franchise","tag-franchise-ownership-2","tag-owning-a-franchise"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Franchising And Your Family: The Truth &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"Franchising And Your Family: Learn how owning a franchise can affect your family &amp; what steps you can take to increase chances of success.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thefranchiseking.com\/the-part-of-owning-a-franchise-no-one-talks-about\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franchising And Your Family\" \/>\n<meta property=\"og:description\" content=\"Franchising And Your Family: Learn how owning a franchise can affect your family &amp; 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