Trying to escape corporate life? Look no further. Here are four fulfilling alternatives to consider that will allow you to leverage your corporate experience.
Alternatives to Escape the Rat Race
If you’re looking for better job satisfaction, working on something you’re passionate about, and not being under the control of “the man,” consider these four career alternatives:
- Start your own business concept: It can be challenging to start a company but owning a successful business can also be very rewarding. Developing your own business concept can take a lot of time, money, and trial and error. Be prepared for some hits and misses as you create your brand, products and services, and consumer value proposition. It’ll take a lot of preparation and planning, including a thorough business plan. Financing is vital; you’ll need funding to start, whether that’s from your own resources, an investor, or from a third party, such as a bank.
- Purchase a franchise: This is an increasingly popular and fast way to start your own business because it removes much of the development and trial and error process. Franchises typically are businesses that have been up and running for years with an established brand and start-up assistance to get your business open fast. There are a lot of interesting franchising opportunities out there in growing industries such as fitness and healthcare. Real estate sourcing, training, marketing, and ongoing support are some of the benefits of purchasing a franchise.
- Freelancer: The upside of pursuing a career as a freelancer is that you don’t need much capital to start. The downside is that you probably won’t make enough money immediately to leave corporate life right away. Find a field you thrive in and love to do, like videography, editing, or managing social media. Take on a few clients while still working your day job to build your portfolio. Once you’ve built up your clientele enough to make a living, turn to freelance full-time.
- Consulting: Consultancy is one of the most common jobs pursued after leaving corporate work and, like freelancing, it requires little capital to start. After spending years in the corporate world, you probably have built up valuable skills and experience that can be helpful to all types of enterprises, from startups to established companies. You may already have connections in your industry that provide opportunities for consultant contracts. If you don’t, you will likely need to create a portfolio of your work, a business website, and other marketing materials to market your new venture. Network and attend conferences in your field to find business opportunities.
How to Leave Successfully
Leaving your 9-to-5 job is a process. Forbes recommends setting aside six to 12 months of living funds before leaving the corporate job. Next, determine the expenses you’ll need to start this new career, including overhead costs, marketing, travel, staff, and any education or certifications. Finally, create a business budget.
Take steps while still employed (and collect that corporate paycheck). Use your mornings, lunchtime, evenings, and weekends to lay the groundwork for your new venture. While it may be difficult to lose your free time for a period, it will most likely pay off in the end.
Lastly, define a support system. You won’t want to go about this alone. Make sure you have support from your friends and family. Also, consider joining a networking or mastermind group to find a mentor to guide you along your new career path.
Why People are Leaving the Corporate World for Franchising
More people are resigning, and business application filings are up. FranchiseWire reports that in 2021, 38 million people quit their jobs, and 5.4 million new business applications were filed — 1 million more than the year before. Leading experts to believe people are leaving corporate life to start their own businesses. On top of that, franchises are seeing some of the most significant gains in recent years. The International Franchise Association (IFA) released a report in February that estimated a 2.8% increase in franchised establishments last year, the largest growth in recent records.
Why is Franchise Ownership an Excellent Way to Escape?
Franchise ownership can take the stress out of leaving corporate life. As long as you have some capital to work with, you can join a brand that’s already thriving but still be your own boss. Benefits of franchising include brand recognition, a well-established business model, an identified target market, proven products and services, training, and marketing support.
Build Your Own Success with Volofit
What’s a bigger lifestyle change than going from sitting in a cubicle to owning a fitness franchise? Owning a Volofit means working in a fun, upbeat environment alongside highly motivated individuals. It’s a positive workplace as you’re helping customers achieve their fitness goals.
The people filling your classes are more than just paying customers. They’re a motivated community created by you that pushes each other to be their best selves. Plus, exercise releases endorphins, so just imagine working in a space filled with positive vibes. Or don’t imagine it — take the next steps to own a Volofit gym by submitting a franchise form today.