Recent Global Entrepreneurship Monitor Report Shows Great Insight
Most people wake up, drink coffee, put on their business clothes, then work. The aggregate of the American dream–the 9-5. Careers are a part of life that brings important things. Income, stability, health benefits, safety, are all part of the package. These things are important.
Yet recent dynamic changes in local and global economies offer people different options. Flash-back 50 years ago, the baby-boomers studied their vocation and started their career. It was pretty typical for a person to begin and end with the same job, the same pathway.
Now, things have changed. It is easier to make career changes. The average millennial may have between 9 and 12 career changes throughout a life-time. Chunks of time spent investing and cultivating various passions or interests. The economic climate is now designed for pure entrepreneurial spirit. Many individuals are leaving their 9-5 and putting in the tenacity it takes to launch a franchise.
The Global Entrepreneurship Monitor 2013 Global Report (GEM) shows insight into emerging economic shifts. Of the 197,000 business people surveyed, those that pursue career paths stemming from passion, over economic survival, are reporting higher well-being. One of the survey’s aims was to assess satisfaction with a life scale.
Individuals were asked to fill out questions like these:
- In most ways, my life is close to my ideal.
- The conditions of my life are excellent.
- I am satisfied with my life.
- So far I have obtained the important things I want in life.
- If I could live my life again, I would not change anything.
In innovation-driven economies like the American economy, a report instances of women being happier than their male counterparts become more common. 80% of entrepreneurs reported satisfaction with their investment choices and would do it again. The reasoning behind why business people across 70 economies reported this is still studied.
It may be, that those who took the risk and invested in a franchise, have complete agency over their life. Instead of driving an hour commute, to work in a cubicle, to make their company more money, they are at the discretion of only one person–themselves. Franchise owners strategized their way out of the dead end career path.
There is no salary cap and you are your own boss. You are a business owner. Once establishing your franchise shop one has complete control over their own retirement plan. Reward is infinite and is a design of their hard work.
Why doesn’t everyone just invest in a franchise?
The answer comes down to security. There is a measure of risk when investing in anything, or making a career change. The reassuring aspect of good franchises is that there should be no guesswork. Good franchises cut out variables like creating brand/logo, purchasing inventory, and operational logistics. Good franchises help through all the steps until your shop opens and beyond.
Not all franchises follow industry standards closely as a good and ethical company should. To read more about pet franchises that can follow this link.