Also the more successful franchisees seem to be those who have had experience in the industry or with the particular business prior to venturing out on their own.
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I agree with Bacchus. The most important thing is to do your research and projections and speak extensively with franchisees already in the system.
You will always find franchisees that are resentful toward the franchisor. This may be because the model is ordinary or it may be because the franchisee is not suited or not working hard or smart enough. Some cashed up franchisees ābuy a jobā and expect great returns but I believe that you need energy and real interest and understanding of the product or service that you are providing.
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Sounds like itās the job not the profession thatās getting you down. Hereās the flip side. I recently started work for a company that does financial planning basically from cradle to grave. In a few short weeks Iāve met many
Clients and seen what a difference this little company has made to their lives and their families. Itās totally changed my perception of the financial planning industry.
Sounds interesting, can you please give us a few more insights into the industry?
It sounds like youāre not in the right place for you. But i think you should try and get some value out of the skills youāve worked on.
Could you set yourself up some sort of small business on the side, where you deal directly with customers, where youād feel like youāre doing something positive? (Financial advisor, mortgage broker, tax accountant etc). Then build that up until you can do it full-time?
I empathise with you, Alex, and hope all will go well.
However, after reading your first couple of sentences, I just thought of this famous sketch:
(edit:must have been posted by a Russian fan, given the subtitles, which were not part of the original movie. I think one translates as āMy hovercraft is full of eelsā).
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Nah donāt have enough of anything to do that, qualifications, time, connectionsā¦ If I were to stick in tax definitely long term Iād want to work for myself eventually
Butā¦ I think the skills I have from insolvency are broad and transferrable enough that I shouldnāt have too much difficulty finding work elsewhere, but the reality is that itās be my 3rd job change in under two years
Thought that was par for the course these days in the Millennials āGigā economy??
Have you ever considered Audit?
Can be dead boring, but it is the way to get into the big and middle size firms. You will learn a lot about all aspects of business and is a good stepping stone into more specialised areas.
You also get to feel you are doing some good in the world. Stopping shareholders getting ripped off. Preventing business collapses and the fall out you are currently seeing.
I am considering audit atm, definitely. Going from insovlency>audit is quite common apparently, or vice versa. I think I can swallow doing boring work if itās at a good company with clear lines of job progression.
Millennials gig economy?
You mean all that loyality rich boomers were showing their workers?
Because clearly it was young people that wanted to get rid of sunday penalty rates. Or let major manufacturing leave the country.
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Sureā¦ Iāll do my best. Iāve only been here a month and literally have just scratched the surface.
They started as a small county accounting firm 60 odd years ago. Then branched out into agronomy, wealth and estate planning, SMSF and futures. The premise is so simple but itās the thing I love most. Itās caring for the whole family and treating every family as an individual. The client base is extremely diverse, from farmers who have been on the land for generations to small business owners to politicians, to sportspeople.
Watching families sit around the boardroom enjoying a cuppa and some bikkies and scones while wheeling and dealing in high finance, often with the kids and grandkids joining them via Skype from the city office, is heartwarming.
Seeing the hard work, knowledge and genuine care that goes into every client restores my faith somewhat in the finance sector.
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Thanks heaps. Thatās a very different picture than what makes the headlines. Good to hear.
Yes.
I studied economics/law at uni & even before I had graduated, I sensed that I had chosen the wrong field of study. I suppressed that feeling at the time.
Solid reason. I watched Wall Street in the late 1980s & thought stockbroking would be cool. Spent my summer holidays in 1990-91 gaining āwork experienceā in two of Melbourneās largest brokerage firms with plenty of crazy corporate cowboys.
I hear you loud and clear, Alex. Jump ahead a few years & here I am in my mid-20s running cases in (what was then known as) the Australian Industrial Relations Commission. I no longer thought of myself as Bud Fox, but as one of the dudes in L.A. Law. The cases were mainly industrial (employee) relations related (enterprising bargaining, AWAs, etc), but many of them were unfair dismissal cases. And I was representing the corporate side. I could share dozens of those matters with you, but wonāt, except to say that even in those matters when someone rightly deserved to be sacked, I often struggled with the same dilemma you shared above (especially when it involved single parents with kids). I never took any of those cases to arbitration. I settled every one of them in mediation & paid out every single person. Win-win. A commercial, but more importantly an empathetic decision.
Send me a PM. I may be able to help in some small way.
Iām really happy with where I am at in my life (from a work perspective), but, I errā¦still drink way too much.
Man, you sound like an awesome bloke. Half the problem is actually being brutally honest with yourself and acknowledging that what you have done up to a particular point may have been noble (and admirable), but just not suited to your particular personality traits. The next step is making the tough decision to change your life for the better. We miss 100% of the shots we never take (as the great Wayne Gretzky said).
Happy to help you in any way that I can.
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Inter-thread saltiness.
you act surprised?
Reckon you are mostly correct about rich baby bombers, but not all baby boomers are rich.
A lot of us who are āwealthyā because our home is now valued at over a million bucks grew up on penalty rates and firmly believe in them. Those who donāt run or own their own business and employ people who they would rather not pay at all. I know many small business owners like that.
And Barnz believe it or not there are Millenials who vote conservative and adore capitalism.
I know there are, just some of the boomer cohort seem to think their ā ā ā ā dont stick, but the majority of the ā ā ā ā ā ā up policy have been handed down by historically rich and powerful old men.
Maybe because the rich and powerful are in the position to do it.
Maybe if Millenials got off their bums, picked up a gun and took over the place, it may just change, or perhaps even they could show some interest in the democractic process, enrol to vote, put up their hands as candidates, support each other, and change the farking system that way.
This old bloke would be there on their side.
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