{"id":22955,"date":"2017-03-14T00:26:01","date_gmt":"2017-03-14T00:26:01","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=22955"},"modified":"2022-04-28T13:27:02","modified_gmt":"2022-04-28T17:27:02","slug":"why-making-100000-a-year-is-worse-than-being-unemployed","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/why-making-100000-a-year-is-worse-than-being-unemployed","title":{"rendered":"Why Making $100K A Year Is Worse Than Being Unemployed"},"content":{"rendered":"<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/being-unemployed-buying-a-franchise.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-22976 size-large\" title=\"Making $100k A Year\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/being-unemployed-buying-a-franchise-620x438.jpg\" alt=\"six-figure income vs. unemployed\" width=\"620\" height=\"438\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/being-unemployed-buying-a-franchise-620x438.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/being-unemployed-buying-a-franchise-320x226.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/being-unemployed-buying-a-franchise.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p>You are <em>not<\/em> hallucinating. You read that right. There&#8217;s a reason why <strong>making $100K a year<\/strong> is worse than being unemployed.<\/p>\n<p><b>2 Q&#8217;s<\/b><\/p>\n<p>I have 2 questions for you.<\/p>\n<p>Question #1:\u00a0Are you presently making <em>at least<\/em> $100,000 a year?<\/p>\n<p>If you&#8217;re currently employed-<em>and<\/em> you&#8217;re making $100,000-$200,000 annually, congratulations! <strong>You are a freaking rock star<\/strong>. I mean it. That&#8217;s good <a title=\"money needed for a franchise business\" href=\"https:\/\/www.thefranchiseking.com\/how-much-money-needed-to-buy-franchise\">money<\/a>. You <em>do<\/em> know that, right?<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/512px-Matthew_McConaughey_2011_AA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-22959\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/512px-Matthew_McConaughey_2011_AA.jpg\" alt=\"Matthew McConaughey making a lot of money\" width=\"545\" height=\"635\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/512px-Matthew_McConaughey_2011_AA.jpg 512w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/512px-Matthew_McConaughey_2011_AA-257x300.jpg 257w\" sizes=\"auto, (max-width: 545px) 100vw, 545px\" \/><\/a><\/p>\n<blockquote><p>&#8220;<em>When I first starting making money, <b>when I first made my first six-digits,<\/b> I was &#8211; my big thing was I went to put super unleaded in my truck for the first time<\/em>.&#8221;<\/p>\n<p>&#8211; Matthew McConaughey<\/p><\/blockquote>\n<p>Question #2: Are you currently unemployed?<\/p>\n<p>If you&#8217;ve been <a title=\"getting downsized from a job\" href=\"https:\/\/www.thefranchiseking.com\/downsized\">downsized<\/a>, or if you were fired (<em>like me<\/em>), I feel bad for you.<\/p>\n<p>For one thing, it&#8217;s extremely easy to get down in the dumps-to say nothing of the strain that being unemployed puts on your family. And as an added bonus, there&#8217;s the &#8220;<em>Embarrassment Factor,<\/em>&#8221; if you&#8217;ve been out of work for 6 months or more.<\/p>\n<p>Like when you have to personally call the bank holding your mortgage (<em>because of the threatening\u00a0letters they&#8217;ve been sending you<\/em>) to explain your &#8220;<em>situation<\/em>.&#8221;<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-22961\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage-620x410.jpg\" alt=\"why making $100,000 a year is worse than being unemployed\" width=\"648\" height=\"428\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage-620x410.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage-320x212.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage-768x508.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage-1536x1017.jpg 1536w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/behind-on-mortgage.jpg 1920w\" sizes=\"auto, (max-width: 648px) 100vw, 648px\" \/><\/a><\/p>\n<h2>Wait Joel<\/h2>\n<p>&#8220;<em>Hold on Joel. I&#8217;m confused. You just wrote that making $100,000 is worse than being unemployed. If that&#8217;s the case, why did you just show a millionaire like Matthew McConaughey-and his quote? He certainly doesn&#8217;t look worse off than someone who&#8217;s out of a job<\/em>.&#8221;<\/p>\n<p>&#8220;You&#8217;re 100% right. He&#8217;s not. But, as you&#8217;ll soon see, this post has nothing to do with Matthew McConaughey. But I sure piqued your interest, right?&#8221;<\/p>\n<h3>This Is Important<\/h3>\n<p>Conventional wisdom says that it&#8217;s much better to look for a franchise to buy when you&#8217;re working. (<em>As opposed to when you&#8217;re unemployed<\/em>)<\/p>\n<h3>You Can Throw That Wisdom Right Out The Window<\/h3>\n<p><iframe loading=\"lazy\" class=\"giphy-embed\" src=\"\/\/giphy.com\/embed\/lH222o7HcuCC4\" width=\"640\" height=\"310\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/tommy-tube-wiseau-lH222o7HcuCC4\">via GIPHY<\/a><\/p>\n<p>Keep reading, because I&#8217;m going to show you why it&#8217;s actually better to search for a franchise to buy <em>when you&#8217;re jobless<\/em>.<\/p>\n<p>But first&#8230;<\/p>\n<h2>Why Are People Making $100,000 A Year Looking For Franchises?<\/h2>\n<p>I&#8217;ve worked with thousands of prospective franchise owners over the years. Some of them have <a title=\"get help from the franchise king\" href=\"https:\/\/www.thefranchiseking.com\/youre-ready-to-be-your-own-boss-whats-next\">contacted me for help<\/a> while they were still working. (<em>And still do<\/em>) Around 80% of them have had salaries of $100,000 or more.<\/p>\n<p>When I follow up with them via email or phone, I always ask them what <a title=\"franchises\" href=\"https:\/\/www.thefranchiseking.com\/interesting-franchise-opportunities-business-opportunities\">franchise opportunities<\/a> they&#8217;re interested in and <strong>why<\/strong> they&#8217;re looking to become franchise owners.<\/p>\n<p>&#8220;<em>I hate my job<\/em>.&#8221;<\/p>\n<p>&#8220;<em>I&#8217;m sick of travelling all the time<\/em>?&#8221;<\/p>\n<p>&#8220;<em>Management changed and I don&#8217;t like the people<\/em>.&#8221;<\/p>\n<p>&#8220;<em>I&#8217;m sick of watching the executives at my company getting rich because of the work I&#8217;m doing<\/em>.&#8221;<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-22968\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640-620x413.jpg\" alt=\"big house of someone rich\" width=\"620\" height=\"413\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640-620x413.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640-600x400.jpg 600w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/exterior-1597098_640.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><br \/>\n(<em>Executive home<\/em>)<\/p>\n<p>&#8220;<em>I&#8217;m hearing rumors of possible job cuts-and I may lose my job<\/em>.&#8221;<\/p>\n<p>&#8220;<em>I&#8217;ve always wanted to have my own business and I feel now&#8217;s the time<\/em>.&#8221;<\/p>\n<p>&#8220;<em>I&#8217;ve accomplished a lot-mostly for them. Now it&#8217;s <a title=\"success and accomplishments\" href=\"https:\/\/www.thefranchiseking.com\/the-top-10-things-franchise-owners-need-to-do-to-be-successful\">my turn to accomplish something<\/a> for me and my family<\/em>.&#8221;<\/p>\n<p>Those are certainly valid reasons for wanting to leave a job. You&#8217;ll get no argument from me.<\/p>\n<p><strong>Here&#8217;s One More:<\/strong> &#8220;<em>My boss is an abusive SOB<\/em>.&#8221; <a title=\"abusive bosses\" href=\"https:\/\/www.thefranchiseking.com\/starting-really-sick-thoughts-youd-like-boss\">You should read this<\/a><\/p>\n<p>On the whole, I love working with clients who want out of their corporate jobs. Some want 1-on-1 help; they schedule private consultations with me. Others prefer to learn on their own, so they invest in <a title=\"how to buy a franchise course\" href=\"https:\/\/www.thefranchiseking.com\/how-to-buy-a-profitable-franchise-course\">franchise course on buying a money-making franchise business<\/a>. It&#8217;s all good. Except&#8230;<\/p>\n<h2>Most Of Them End Up <em>Keeping<\/em> Their $100,000 A Year Jobs<\/h2>\n<p>That&#8217;s right. Most of the $100k+ people I&#8217;ve worked with have ended up keeping their jobs. (<em>Or they&#8217;ve found new ones<\/em>) But why?<\/p>\n<p><strong>Because it&#8217;s tough to walk away from a $10,000 monthly paycheck.<\/strong><\/p>\n<p>The fact is, people who have a (<em>good<\/em>) steady income coming in don&#8217;t &#8220;<em>have<\/em>&#8221; to make a change in their careers. They can take their time investigating &#8220;<em>opportunities.<\/em>&#8221; They can look at franchises <em>casually<\/em>. \u00a0And even if they find a franchise opportunity that excites them, they don&#8217;t have to go &#8220;<em>all in<\/em>.&#8221; They can take their good old time looking it over.<\/p>\n<p>In other words, looking at franchise business opportunities tends to be way more open-ended when you have the luxury of working-and <a title=\"make $100k a year\" href=\"https:\/\/thoughtcatalog.com\/madison-moore\/2015\/06\/13-people-share-what-its-like-living-on-100000-per-year\/\" target=\"_blank\" rel=\"noopener\">making good money<\/a>.<\/p>\n<p><b>One more thing:<\/b> People with $100k jobs can&#8217;t be pressured by franchise consultants or a franchise salespeople. They hold all the cards because they don&#8217;t &#8220;<em>have<\/em>&#8221; to do anything. And there&#8217;s this:<\/p>\n<h3>The Franchise Ownership Learning Curve<\/h3>\n<p>It takes weeks to get a good understanding of franchising. You don&#8217;t know what you don&#8217;t know. (<em>Until you do<\/em>.)<\/p>\n<p>Like when you find out that you&#8217;re not going to be able to replace your paycheck for quite awhile.<\/p>\n<p><strong>That&#8217;s because franchise ownership is a long-term solution to the short-term problem of career pain<\/strong>.*<\/p>\n<p>*Career pain is when you&#8217;re in a job you absolutely hate, or when you&#8217;re unemployed. They&#8217;re both painful.<\/p>\n<p>You need to realize that when you start a franchise, it takes a while to <a title=\"break-even point in franchising\" href=\"https:\/\/www.thefranchiseking.com\/break-even-in-a-franchise\">break-even<\/a> and become profitable. But if you choose the right franchise, it&#8217;s soooo worth it. It can be great to be the boss.<\/p>\n<h2>Why Making $100,000 A Year Is Worse Than Being Unemployed<\/h2>\n<p>So far, you&#8217;ve learned why it can be tough-<em>even for people who hate their jobs<\/em>-to walk away from their $100,000 a year positions and start a franchise business.<\/p>\n<p>Now I&#8217;m going to show you why <strong>it&#8217;s actually better to be unemployed<\/strong> if you&#8217;re looking into franchise ownership.<\/p>\n<p><b>This<\/b> <strong>&gt;&gt;<\/strong> When you&#8217;re out of work, you don&#8217;t <em>want<\/em> to be. Make sense?<\/p>\n<p>In other words, when you&#8217;re <a title=\"unemployed and franchise buying\" href=\"https:\/\/bbbconsumereducation.com\/option-for-some-unemployed-franchise-ownership\/\" target=\"_blank\" rel=\"noopener\">unemployed<\/a>, you&#8217;re totally focused on <em>not<\/em> being unemployed. All (<em>or most<\/em>) of your energy is being used to <em>find<\/em> work. Plus, you&#8217;re being pressured internally and externally.<\/p>\n<p>You <strong>need<\/strong> to find a job so you can support your family. Then there&#8217;s the self-talk going on inside. (<em>Positive and negative<\/em>)<\/p>\n<p><em>Externally<\/em>, your loved ones want you to &#8220;<em>Go out and find a job<\/em>.&#8221; There&#8217;s a lot of<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/hustle-and-bustle-1738072_640.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-22972\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/hustle-and-bustle-1738072_640-620x349.jpg\" alt=\"pressure to go out and find a job\" width=\"620\" height=\"349\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/hustle-and-bustle-1738072_640-620x349.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/hustle-and-bustle-1738072_640-320x180.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/hustle-and-bustle-1738072_640.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p><strong>Pressure<\/strong><\/p>\n<p>Which may end up being a good thing.<\/p>\n<h2>Looking At Franchises When You&#8217;re Out Of Work<\/h2>\n<p>Most of <a title=\"tech franchises\" href=\"https:\/\/www.thefranchiseking.com\/cleveland-tech-franchise\">the people I&#8217;ve helped become franchise owners<\/a> over the years have been unemployed.\u00a0I&#8217;ve found them to be very motivated. Very focused. They don&#8217;t necessarily move fast-but they <em>do<\/em> keep moving.<\/p>\n<p>Some of them even do the &#8220;<em>dual track<\/em>&#8221; thing. They look at franchise opportunities <em>and<\/em>\u00a0the job offerings that come their way. Some end up taking new jobs. <strong>Some buy franchises<\/strong>.<\/p>\n<p>It&#8217;s way easier to &#8220;<em>Be open to the possibilities<\/em>&#8221; (<em>like becoming the owner of a franchise<\/em>) when you&#8217;re <em>not<\/em> working and you&#8217;re looking for opportunities than when you&#8217;re employed-and bringing in a nice paycheck.<\/p>\n<p><strong>Fact:<\/strong>\u00a0I&#8217;ve found that most of the people I&#8217;ve worked with over the years (<em>who are unemployed<\/em>) can go out and find another job. It&#8217;s human nature. A new job is looked upon as being way less risky than investing money in a business. And most people move away from risk.<\/p>\n<h2>Can You Walk Away From Your Six-Figure Job?<\/h2>\n<p>Given these points, when you&#8217;re bringing in six-figures, it&#8217;s very difficult to walk away from your job. It may sound nice to become your own boss-but you probably won&#8217;t make a move like that unless&#8230;<\/p>\n<p>A. You are totally sold on the franchise concept and feel you can&#8217;t lose.<\/p>\n<p>B. You lose that job.<\/p>\n<p>If you want to become the owner of a franchise, you have a better chance of <a href=\"https:\/\/www.thefranchiseking.com\/5-things-you-need-to-know-before-pulling-the-trigger-on-a-franchise\">pulling the trigger<\/a> if you&#8217;re unemployed.<\/p>\n<p>Do you agree? Why? Why not?<\/p>\n<p>Image of Matthew McConaughey courtesy of <a href=\"https:\/\/ro.wikipedia.org\/wiki\/Matthew_McConaughey\" target=\"_blank\" rel=\"noopener\">Wikipedia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You are not hallucinating. You read that right. There&rsquo;s a reason why making $100K a year is worse than being unemployed. 2 Q&rsquo;s I have 2 questions for you. Question #1:&nbsp;Are you presently making at least $100,000 a year? If you&rsquo;re currently employed-and you&rsquo;re making $100,000-$200,000 annually, congratulations! You are a freaking rock star. I [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":22976,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[2121,32],"tags":[1803,139,247],"class_list":["post-22955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-career-path","category-franchise-purchasing","tag-100k","tag-buying-a-franchise","tag-franchise-advice"],"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>Making $100K A Year Is Worse Than Being Unemployed<\/title>\n<meta name=\"description\" content=\"There&#039;s a reason why making $100,000 a year is worse than being unemployed. 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