As more executives reflect on their careers, many are finding that the traditional corporate path no longer provides the satisfaction it once promised. Despite the prestige and financial rewards that come with C-suite roles, executives are often burdened with long hours, corporate politics, and the stress of serving someone else’s agenda. The result? Burnout, frustration, and a yearning for something different.
One alternative that has captured the attention of executives across industries is franchise ownership. While not entirely new, franchise ownership is increasingly seen as a positive career shift, allowing executives to use their business acumen to build something of their own without the drawbacks associated with corporate life. Here’s why more executives are turning to franchising and why it’s worth considering if you’re feeling the strain of the corporate grind.
The Drawbacks of Traditional Corporate Roles
For decades, executives have enjoyed the financial and status rewards of their roles at the helm of large organizations. However, these perks often come with significant trade-offs:
Long Hours: Executives are known for working long hours, often at the cost of personal and family time.
Corporate Politics: The higher one climbs the corporate ladder, the more prevalent office politics become, which can sap energy and enthusiasm.
Lack of Control: Despite their title, executives are still answerable to boards, shareholders, and other stakeholders, leaving them with limited control over the company’s direction.
Job Insecurity: Even at the top, roles are not as secure as they once seemed. Corporate restructurings, mergers, and shifting market demands can lead to abrupt exits for senior leaders.
For these reasons, many executives are seeking new ways to apply their skills and experience while gaining more control over their time, their careers, and their future.
The Virtues of Franchise Ownership
Franchise ownership offers a compelling alternative, allowing executives to channel their leadership and business skills into a new venture while enjoying the following benefits:
Established Business Model: Franchises come with a proven business model, offering a higher likelihood of success compared to starting a business from scratch.
Brand Recognition: A well-known franchise provides built-in credibility and marketing support, reducing the challenges of building brand awareness.
Training and Support: Franchisors provide comprehensive training and ongoing operational support, making the transition smoother for those new to the industry.
Scalability: Franchise ownership can grow over time. Many owners expand their portfolios by owning multiple locations.
Flexibility: Franchising offers more control over one’s time, especially for those who pursue models like the semi-absentee franchise.
The Executive Franchise: A Semi-Absentee Model
For executives who aren’t ready to completely leave the corporate world, there’s another option: the executive franchise, also known as the semi-absentee model. This allows the franchise owner to remain in their corporate role while overseeing the franchise part-time, with a manager handling day-to-day operations. It’s a perfect fit for executives looking for a “side hustle” that could eventually become a full-time venture.
Case Study 1: Gary’s Transition from Corporate Finance to Franchise Ownership
Gary H., a former senior VP of a financial services firm, spent years chasing corporate success, only to feel unfulfilled by the corporate culture and lack of work-life balance. After consulting with Pete Gilfillan, a renowned franchise expert, Gary decided to invest in a fast-growing home services franchise, leveraging his operational skills to build the business.
“I wanted to build something for myself, something that gave me control and freedom,” Gary says. “Franchising provided a way for me to use my business skills in a completely different industry without starting from zero.”
Gary now owns multiple locations and manages them on a semi-absentee basis, allowing him to enjoy more time with his family while still maintaining a comfortable income.
Case Study 2: Sarah’s Path from Marketing Executive to Multi-Unit Franchise Owner
Sarah P., a former Chief Marketing Officer at a major consumer goods company, grew tired of the politics and constant pressure of her corporate role. After researching various franchise options with the help of Pete Gilfillan, she invested in a fitness franchise.
“The franchise model was a perfect fit for me,” says Sarah. “I had the brand recognition and systems in place, so I could focus on building the business without reinventing the wheel.”
Sarah started with one location but quickly expanded to three. Today, she works full-time in her franchise operations and couldn’t be happier with the shift.
The Reality: Franchise Ownership Requires Hard Work
While franchise ownership comes with many advantages, it’s important to recognize that it is not a passive investment. Owning a franchise requires hard work, dedication, and a willingness to manage day-to-day challenges. Executives need to apply the same focus and leadership they used in their corporate careers to ensure the success of their franchise.
That said, many executives find the trade-off worthwhile. They appreciate the opportunity to work for themselves, build their own business, and enjoy a more balanced lifestyle.
Seek Professional Guidance
For executives considering the move to franchise ownership, it’s essential to seek advice from knowledgeable professionals. Pete Gilfillan, author of the bestselling Hire Yourself, is one such expert. As an ExecuNet entrepreneurial coach and franchise consultant, Pete has helped countless executives make successful transitions into franchise ownership.
“Franchise ownership can be life-changing for the right executive,” says Gilfillan. “But it’s important to choose the right franchise, understand the investment, and be prepared for the work involved. Working with an advisor who knows the industry can help you make informed decisions and avoid costly mistakes.” Connect with Pete for a no-charge info sharing chat.
Final Thoughts
For executives disillusioned with corporate life, franchise ownership offers a viable and rewarding career alternative. Whether it’s the promise of flexibility, control, or financial independence, franchising can be the perfect next step for those looking to exit—or supplement—the traditional corporate path. With the right guidance, dedication, and mindset, the transition can lead to greater satisfaction and success.
