Small business owners are the backbone of the U.S. economy. More than 50 percent of the working population works in a small business. Running a business, however, is no walk in the park, especially while raising a family. Despite the challenges, parents across the nation are taking the reins of their career and embracing a new title—business owner.
Parents no longer have to choose between raising a family and maintaining a rewarding career. Franchising is helping aspiring “parentpreneurs” achieve their dreams of owning a successful business, without the hassle of starting from scratch. Investing in a small business franchise like Kumon, the world’s largest after-school math and reading program, offers all of the benefits of business ownership, minus the time-consuming and overwhelming details.
Here’s some insight on how to juggle parenthood and the American dream of owning a business.
- Do the research. Many prospective small business owners underestimate the time and expertise necessary to be successful, including understanding the various business aspects. Before rushing into anything, make sure you do the research ahead of time and know whether or not owning a business meets your business and personal objectives. Franchising is just one option to consider, but it can help alleviate the fear of becoming your own boss for those who may not have a business background. When you invest in a franchise like Kumon, you are investing in a proven business model with global brand awareness.
- Manage work life balance. When it comes to balancing parenthood with running a business, creating boundaries is essential. It is important to set limits and goals, and stick to them. Setting boundaries between work and parenthood fosters efficiency in both. While at your business, your entire focus should be on your work. And on the flipside, make sure to ‘leave work’ when it’s time to be with your family. Turn off your email and truly be present for your children.
- Make the business about more than profits. Making the decision to open your own business encourages you to find a career that is meaningful, rewarding and something you are truly passionate about. The inspiration for opening a small business may be a better life for your family, but in some instances your children themselves may inspire the business idea. More than half of Kumon’s new owners are customers who initially experienced the benefits of the after-school learning program as parents. They quickly realize by opening a Kumon franchise they can achieve the dream of being a small business owner, while pursuing their passion for helping children in their community.
- Prioritize and organize. It’s important to have a consistent schedule so you can stay organized. Between school drop-offs, extracurricular activities, and school events, you have a lot going on in your personal life. Add to that, the many hats a small business owner wears. Owning your own business is the American dream and gives you the opportunity to manage your own hours. Make sure you’re making the most of your time by setting up a schedule for both yourself and your family.
- Establish a support system. Whether your support team includes family members or other working parents, it’s important to have a good support system in place. Don’t feel like you have to go at it alone and make sure you ask for help when you need it. As a franchisor, Kumon has provided extensive training and tools to support all of its franchisees’ business goals. Kumon owners often lean on other franchisees, who are also parents, for advice and tips on how to improve their business. In the end, Kumon is a family of small business owners so it’s a wonderful opportunity to not only network, but share advice.