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Franchising Path

Connecting You to Your Future

Franchising Path

5 Ways a Franchise Consultant Can Be Valuable To You

How do you pick the ideal franchise for you when there are so many to choose from? This is when a Franchise Consultant can come in handy.

I am a business matchmaker. I use a proven process to help ambitious entrepreneurs identify the ideal franchises for their situation.

Here are the five ways I add value to my candidates:

1. Franchise Industry Experience

The more your consultant knows about franchising and business ownership, the better job they can do in identifying one that is a perfect fit for you. Look for a consultant who has been a franchisee or worked with a franchisor's executive staff.

With a Franchise Consultant’s knowledge of what you’re looking for and the franchise industry, they should be able to give you suggestions for the best franchise that will fit your personality.

2. Reputation in the Industry

A respectable consultant will spend hours with you, asking questions and listening to your needs and goals before examining franchise businesses that can work well for you.

3. Legal Documents

Your Franchise Consultant can review legal documents and paperwork before signing because they should know how proper documentation looks.

4. Pre-Screened Franchisors

A good consultant would deal with pre-screened franchises. This lets them know that the opportunities are substantial while tailoring prospective options to the most essential to the franchise candidate. You should work with a consultant that thoroughly evaluates franchise prospects and provides a diverse selection of sectors, investment levels, and business models.

5. Proven Results

Examining your consultant's outcomes is one way to assess if they can help you select the right franchise. For example, assume they work with reputable franchisors and choose competent franchisee candidates. In that case, they should be able to assist many people in discovering their perfect match in a franchise.

A qualified and experienced Franchise Consultant will constantly look out for their candidate's best interests. I will listen to you, learn about your goals, and base my franchise recommendations on characteristics rather than the next hottest thing.

Remember that the purpose of a Franchise Consultant is to match you with a brand that suits your requirements, goals, and talents.

If you’d like to find out how I can find your franchise match, please schedule a quick call here.

Is Buying A Franchise The Same As Buying A Job?

The idea that a corporate job is the best way to achieve stability is no longer true.

Entrepreneurs who own franchises are not doing it to supplement their income. Despite what you may have heard, they are making the move because purchasing a franchise is not the same as buying a job.

Entrepreneurs are turning to franchising to help them realize their dreams.

Your Job Cannot Be Scaled

In a job working for someone else, no matter how talented you are, your title and income are limited. In franchising, you are self-employed and have direct control over your business's performance and your salary.

You Have No Control Over Your Job

In most jobs, you are bound by the employer's rules. You're probably working from 9:00 a.m. to 5:00 p.m., with little room for flexibility. When you own a franchise, you make your own rules and have complete control over your work hours.

You Can't Hold Two Full-Time Jobs

The only ways to increase your income while working for someone else are to look for a new position or ask for a raise. In franchising, you can opt to scale the business into more locations or a larger service area.

Support At A Job Is No Guarantee

In a franchise, you have a team working for you just to support your success. You are not alone in determining how to expand your business, and you have a network of franchisees and franchisors to network with.

Your Job Cannot Leave A Legacy

In a franchise, you get to select who takes over after you. You can create something incredible for your family to inherit.

These are only a couple of reasons but there are many others. In franchising, you aren’t buying a job, you’re investing in your happiness.

If you would like to find your dream franchise opportunity, please schedule a quick call here.

How to Grow Your Business with Complementary Brands

Now more franchisees are broadening their portfolios by investigating alternative franchise companies that complement their existing business.

Of course, franchisees and franchisors know the advantages of multi-unit ownership under a single franchise brand. Nonetheless, there are numerous significant advantages to cross-brand franchising.

Adding complementary brands to your portfolio is a smart approach to expanding your portfolio. However, before deciding which brands will work best with your existing concept, you should conduct considerable research, as with any other business choice. 

The brands should be mutually beneficial to optimize your investment, but forecasting a successful addition might be challenging.

When researching prospective complementing franchises, consider the following questions:

  • What is the current profile of my customers?
  • Would my current consumers find this brand appealing?
  • Is this brand a rival to my current concept?
  • Is there a location for this franchise in my territory?
  • How can this brand and my current franchise help each other?
  • How can I market these brands together?
  • When is it time to go horizontal rather than vertical with one brand?

When you've established a level of comfort with your current franchise, expanding with a complementing brand can be a smart approach to growth.

There are several ways to build on your success as a multi-unit, multi-brand owner, whether you're growing inside a single franchise brand or seeking complementary brands.

Are you interested in expanding with a complementary brand franchise? Please schedule a quick call here.

You Don’t Have to Quit Your Day Job to Open a Franchise

Many franchisees come from corporate careers. They decide to start their own business after being dissatisfied with the rat race and bored of working for someone else's dream.

With so many success stories of people transitioning from the cubicle to business ownership, it raises the question:

How do you know when to leave your corporate position and invest in a franchise?

Actually, you don't have to give up your day job to become a franchise owner. Not every franchise model requires the presence of a franchisee at all times. Instead, many businesses merely need a semi-absentee owner with a reduced time commitment to work on the business.

Essentially, a semi-absentee franchise is a business model that an individual can start and operate on the side while simultaneously having another job, compared to a full-time business that requires complete effort and constant presence.

Once the business is up and running, the semi-absentee franchise owner typically spends 10-25 hours per week working on their business.

There are a ton of available franchise opportunities. Whether the franchise is a brick-and-mortar store, home-based, mobile, or vending/kiosk, it’s important to make sure that whatever concept you invest in fits your overall long-term strategy, ability, and time availability.

Dreaming of becoming an entrepreneur may make you want to quit your current job, but you don’t have to. With a semi-absentee franchise model, you can still work your 9 to 5 job and explore a career path as a business owner that offers many opportunities.

If you are ready to explore a path to business ownership, please schedule a quick call here.

Is It Too Late to Add Additional Revenue Streams to Your Franchise?

Of course, having several revenue streams is essential in any franchise. They provide a proven way for an owner to reduce risk and create a more predictable revenue flow from several sources, rather than relying on a single, traditional product or service.

With numerous income sources, franchisees can reach the same loyal customer more frequently and through more points of contact.

Even if your franchise is already up and running, it is never too late to introduce new revenue streams. More services can be added to your franchise business at any time. The idea is to keep your mind open to new opportunities and to be resourceful when they present themselves.

If you own a storefront, you can add new features to your business, such as complementary services, collaborations, extended retail or other products, and special operating hours to reach a niche customer. You can also work with your franchise to offer upgrades.

Can you co-brand under the same roof with another franchising company to offer complementary, non-competing products or services?

Can your franchising brand provide higher-paid services to your consumer base?

Can you design and sell swag?

Merchandise such as t-shirts, hats, and so on may be an effective way to advertise your business while simultaneously making a sale. 

You can pursue additional opportunities by collaborating with the franchisor on what may be available. You don't have to limit yourself to just one choice in order to build your franchise business.

Offering different revenue streams can typically be done with minimal cost. First, determine what your target audience wants, the cost/labor associated with the addition, then provide that need through your franchise.

To learn more about franchises that offer multiple income streams, please schedule a quick call here.

Need a Cure for Corporate Job Burnout? Purchase a Franchise and Become Your Own Boss!

Corporate job burnout can slowly creep up on you. You feel secure in your 9 to 5 position, but the mere idea of going to work disrupts your entire day, attitude, and life. It's probably hard to say when the positive attitude about work evaporated, but it did.

Job Burnout Is A Genuine Thing

Some individuals dismiss job burnout as a serious, real-world problem. However, because work consumes 50% of your waking hours, the consequences of a negative work environment can be severe.

The following are some classic burnout symptoms:

  • Lack of energy or passion
  • At the end of every day, exhaustion sets in
  • Dread Mondays and live for the weekend
  • Depression, mental fatigue, and physical issues
  • Moodiness at home
  • Sleeplessness

If you recognize yourself on this list, it's time to make a change. It might be the right time to follow your dream of being your own boss and achieving a work/life balance that makes going to work enjoyable again.

When you own a franchise, you are in control.

  • You have control over the size of your business.
  • You determine your working hours and schedule.
  • You are in charge of hiring and training your team.

If job burnout is making your world gray, change your world. Please contact me to determine whether franchising is the best career path for you. You can set up a quick call here.