If you've just been laid off, you don't need to decide anything about starting a business after a layoff this week. You need a few steady weeks first, then a structured way to look at ownership next to the job search, and then a clear decision with a date on it. The plan below runs ninety days. It assumes you want to keep both paths open until you have enough information to choose.
Key takeaways
- →Spend the first 30 days on money, health coverage, and rest. Don't make an ownership decision yet.
- →Days 31 to 60 are for exploring models and talking to owners, not for signing anything.
- →Days 61 to 90 are for stress-testing the numbers and deciding, including deciding no.
- →Run a job search and ownership research in parallel. They're not opposites.
- →Slow down if you're being pressured by a deadline that isn't yours.
Context first. Challenger, Gray & Christmas counted 1,206,374 announced job cuts in 2025, up 58% from 761,358 in 2024, according to its year-end report. Its August 2026 report shows 529,914 announced cuts for the first eight months of 2026, down 41% from the same period of 2025. Those are announced cuts, not confirmed separations. The takeaway isn't a trend line. It's that you're far from alone, and that many people in your position are asking the same question.
Days 1 to 30: steady the ground
The first month is about reducing the number of urgent things so you can think.
Get the paperwork in order. Read your separation agreement carefully before signing anything. Note severance timing, any benefits continuation, and any restrictions on what you can do next. If the agreement is long or unusual, an employment attorney is worth a short consultation.
Price your health coverage. COBRA can let you continue your employer's group plan for a limited period, generally at your own expense. HealthCare.gov is the alternative. Get actual quotes and compare premiums, deductibles, and your doctors' networks. Missing a deadline here is a mistake that's hard to undo, so write the dates on your calendar.
Build a spending picture. List fixed monthly costs, then the ones you can flex. Divide your available cash by your monthly spend to see how many months you can cover. Be honest, and include taxes on severance.
Handle the obvious stuff. Roll over or leave your retirement accounts deliberately, not by default. Apply for unemployment benefits if you're eligible; it's an earned benefit, not a verdict. Update your resume and tell your network.
Rest on purpose. People deciding under shock tend to grab the first job or chase the first shiny idea. Block out some time with no agenda.
Days 31 to 60: explore without committing
By now your finances are clearer, and you're ready to look at ownership as one option among several.
Define what you want from work. Write down what you liked and disliked about your last role, what hours you want, and how much risk your household can carry. Some people discover they want a job again, and that's a fine outcome.
Learn the models. Read about starting from scratch, buying an existing business, and franchising. Our guide to leaving corporate to own a business lays out the trade-offs. If you lean toward franchising, our step-by-step guide to buying a franchise explains the process, including the Franchise Disclosure Document (FDD).
Check the mindset fit. Ownership asks different things from you than employment. Our piece on the nine shifts from employee to owner is a useful self-test, and so is a realistic look at the job. If you're drawn to accounting-adjacent work, our guide for bookkeepers and accountants becoming business owners covers that path, and the bookkeeping franchise guide covers the model in more detail.
Make a short list and ask for FDDs. Pick two or three businesses and request the disclosure documents. Under the FTC's Franchise Rule, a franchisor must give you the FDD at least 14 calendar days before you sign a binding agreement or make any payment. Read Item 7 (estimated initial investment), Item 19 (financial performance representations, if the franchisor includes any), and Item 20 (outlets and franchisee information). Item 19 is optional for franchisors, so ask existing owners about their experience directly.
Call people. Speak with current and former owners from Item 20. Ask what surprised them and what they'd do differently. Nobody is more useful.
Don't sign, don't pay, and don't put down a deposit in this window. Exploring is free. Commitments aren't.
Days 61 to 90: decide
This month is for turning research into a choice.
Stress-test the numbers. Meet with a CPA to build a conservative picture. Say your household spends $8,000 a month (a hypothetical figure). Ask what happens to your runway if the business produces nothing for six months, and what happens if funding costs more than planned. If the answer is that you'd be in trouble, the plan needs another look.
Talk to a lender. Financing terms change. The SBA's SOP 50 10 8.1 takes effect October 1, 2026, and is reported to include U.S. citizenship requirements for owners, so confirm current rules directly with a lender. If you're considering retirement funds, talk to a CPA and an ERISA attorney first, because retirement savings are at risk and the IRS has flagged compliance issues with some rollover structures.
Have an attorney review the agreement. A franchise attorney or business attorney should review any contract before you sign.
Set a decision date. Choose a specific day to say yes, no, or "not now." A plain no is a perfectly good result. So is "I'm taking a job, and I'll revisit this in a year."
Use a simple decision rule. If you can name why this business fits your skills and household, you've talked to current owners, and the numbers still hold under conservative assumptions, you're in decent shape to proceed. If any of those is missing, extend your timeline.
Keeping job search and ownership research in parallel
Running both at once isn't a lack of commitment. It's risk management. Interviews keep you sharp, and a job offer gives you a baseline for comparison. Research into ownership might improve your job search too, since you'll see which kinds of roles you want.
A sensible split: spend most of your search time on the job search in the first month, then roughly equal time on both in months two and three. If you get an offer you like, you can say yes without feeling you've failed at anything.
For the career-change story from other corporate professionals, see our post on why corporate professionals are turning to bookkeeping franchises.
Talking to family
A layoff affects everyone in your household, and the idea of buying a business can make it more tense. Be specific. Share your runway, the dates that matter, and what you're exploring and why. Ask what worries them, and mean it.
Agree on guardrails together: a limit on how much savings the household will put at risk, a date by which you'll decide, and what each of you needs to feel safe. Check in weekly for ten minutes. A short regular conversation does more than a long tense one.
Warning signs you're rushing
Take a breath if you notice any of these:
- You're being told an offer expires soon, or a territory "won't last."
- You haven't spoken to any current or former owners.
- You're relying on a number someone gave you outside the FDD. Earnings claims are lawful only in Item 19 of the current FDD, and results may differ.
- You're planning to use retirement funds or home equity to cover everything and haven't talked to an advisor.
- You're hoping a business will solve how you feel about the layoff.
- You can't describe the daily work in plain language.
Frequently asked questions
Is it a bad idea to buy a business right after a layoff?
Not necessarily, but it's a decision to make after your finances and health coverage are settled. Many people give themselves 60 to 90 days before committing to anything.
Can I get financing right after losing my job?
It can be harder, since lenders look at income, credit, assets, and experience. SBA-backed loans guarantee part of a lender's loan, not yours, and the lender makes the decision. Talk with a lender early so you know what's realistic.
Should I use my severance to fund a business?
That's a personal call, and it deserves a conversation with a financial advisor and a CPA. Severance can double as your runway, so using it for the business may leave you without a cushion.
What if I realize ownership isn't for me?
Good. That is a legitimate and useful outcome of the plan. You'll have updated your resume, built a network, and clarified what you want.
Your next step
At day 90, you should know whether you're going forward, going back to a job, or taking more time. If you're going forward, the next step is a conversation, a disclosure document, and calls with current owners.
If a bookkeeping franchise is on your short list, you can see how others describe the decision on our stories page, learn more about why people choose BooXkeeping, and explore ownership whenever you're ready. There's no pressure, and the timeline is yours.
This article is general information for people researching franchise ownership. It isn't legal, tax, financial, or investment advice, and it isn't an offer to sell a franchise. A franchise offering is made only through a Franchise Disclosure Document. Talk with a franchise attorney, a CPA, and a financial advisor about your situation before you invest.