by Susan Scotts
from The Franchise Woman March/April Issue 2021
Forging a Legacy
It’s Spring, and what better time than now to plant seeds? No, I’m not talking about a garden! I’m referring to taking hold of an opportunity in your life to create a successful future for yourself and for your family and even future generations. This is a possibility when you invest in career ownership by leveraging the proven system a franchise provides. You are creating a business that can live beyond yourself, to leave behind as a legacy for your family or children. Many possibilities exist, whether you leverage the talents of technicians to do the work or even include your spouse and/or children in the business. There are possibilities for every skill, talent and even age range!
Bring the Kids to Work
I’ve seen young children stock products for their parents’ wholesale distribution business and even work fun retail events with them! A business can teach children the value of entrepreneurship and business ownership. Even if they are not involved in the business at all, the creation and growth of the business allows you to achieve your Income, Lifestyle, Wealth and Equity goals and create the best life for you and your family. It also allows you to grow something for them, either once you’re gone, or once your kids or their grandkids are old enough to be involved. You could also sell the successful business for a multiple of what it is earning.
What Are You Building?
What are you currently building for your family’s future? If you’re working in a job, the answer is none. What happens when you leave a job? You leave with what you came in with. You have built no equity for your future let alone your family’s future. A franchise business is different. Within four years of investing in a business, one of my clients was able to sell the business for six times his initial investment. Not a bad legacy for his family, right? Can your current retirement fund do that?
My own franchise business has allowed me to invest in a beautiful home, which I can leave to my estate. I have also been able to purchase generous life insurance policies for my family, and have been afforded the opportunity to save money for myself and my family. The franchise license will also have value once I no longer work the business. None of this would have been possible if I were working for someone else in a Just Over Broke i.e. a J.O.B.
There’s no greater feeling than working in a business you enjoy, that allows you to create wealth for your future instead of someone else’s. The only thing better than that to me is growing something for your children and grandchildren that can live beyond yourself. Now that’s a great legacy!
Maybe it is time to ask yourself again what kind of legacy are you creating now? If the answer is none, maybe it is time to explore the possibilities.
“What happens when you leave a job? You leave with what you came in with.
Susan Scotts is a Multiple Award Winning Career Ownership Coach™ with The Entrepreneur’s Source® and possesses three decades of experience in helping empower individuals to become entrepreneurs through franchise business ownership. For a complimentary consultation, she can be reached at 561-859-9110 or SScotts@EsourceCoach.com.