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Franchising Path

Connecting You to Your Future

Franchising Path

How Do Franchise Consultants Locate The Best Franchise For You?

The process of working with a Franchise Consultant begins with a phone conversation to explore your goals.

A Franchise Consultant can filter through the possibilities and identify what works best for your personal and business goals by using their industry knowledge. In addition, they can assist you in understanding the differences between the various sorts of opportunities and determining which format is best for you.

A crucial advantage is that a Franchise Consultant has firsthand knowledge of both emerging and existing franchise concepts that will match your needs.

Your Franchise Consultant will carry out the following steps in the process:

  • Request your location so that an appropriate search for businesses in your neighborhood may be carried out.
  • Inquire about your career experience and passions as they relate to your new venture.
  • Inquire whether your spouse, family, or partner will be involved.
  • Your timetable for becoming a new business owner.
  • Learn about your intended business model (retail, office, mobile service, or home-based).
  • Talk through your financial situation, net worth, and financing options.
  • Request that you complete a confidential franchise questionnaire, which will assist in determining your eligibility for franchise ownership with various franchises.

The more information you provide your advisor, the better they will be able to discover a brand that suits your goals. Buying a new franchise business is a significant choice for your family and one of the biggest investments you can make.

It is critical to find the best options for you and collect accurate information. Using an expert Franchise Consultant who has experience in the various franchise business models helps accelerate your journey to ownership and gives you confidence that you made the right decision.

Keep in mind that the aim of a Franchise Consultant is to match you with a brand that fits your requirements, goals, and talents.

If you’d like me to find your franchise match, please schedule a quick call with me.

Franchising is The New Way to Retire

The traditional ideas about life and work have recently been turned upside down, and people are now seeing retirement in a new light. As a result, starting a business after retirement is a growing trend.

Here are some interesting stats regarding people in the workforce who are self-employed, according to the National Bureau of Economic Research:

  • 25% are between 50 and 59 years old
  • 46% between 65 and 69 years old
  • 68% between 75 and 79 years old
  • 20% of those under 50

What comes to mind when you think about retirement?

Perhaps you see yourself burying your toes into warm sand while sipping a piña colada, or you fantasize about having more free time to work on that long-delayed passion project.

Perhaps the very concept of retiring makes you wince. After all, you've spent your whole professional life committed to your work and still find value in it.

Whatever retirement experience you choose, there is no right or wrong way to go about it. The fact is that we are continuously reinventing ourselves.

Whether you’re in mid-career and thinking about the future, finally retiring after decades in the workforce, or looking for ways to gain additional streams of income, franchising might be a great option for you.

Absentee and semi-absentee franchises, in particular, are excellent franchise options for retirees to achieve their goals without the hassle of changing professions or establishing a business from scratch.

You can walk into a proven business model that includes training, support, and marketing. When it comes to franchise ownership, there is no guesswork, making it a safer and easier option.

Here are a few examples of franchise markets that offer absentee and semi-absentee ownership.

  • Boutique fitness franchises
  • Personal Care franchises
  • Children's Education or Well-being franchises
  • Laundromat 
  • Salon franchises
  • Home Service franchises

Working on your own terms after retirement is not only possible with a franchise, but it may be the best match for you. Consider realizing your retirement goal of traveling the world while running your own business. It is never too late to realize your retirement dreams.

Are you nearing retirement or searching for a change in your career? Please schedule a quick call with me.

Match Your Franchise Choice to Your Goals

Finding the perfect franchise opportunity is not easy, with so many franchises to select from and hundreds of resources to browse.

While evaluating franchise prospects, consider yourself and what you want to achieve. The answer to this question will help you incorporate your passions into your business goals.

What Are Your Goals?

It is critical to have a clear vision of what you want to achieve when beginning a new business. By identifying your franchise goals, you will determine which franchise model is a good fit for you and will help you achieve them.

Ask yourself why you want to own a franchise:

  • Do you want to start your own business?
  • Make more money?
  • Be your own boss?
  • Have a flexible schedule?

You should determine what your primary goal is. Then, after you've decided this, ask yourself what you would enjoy doing on a daily basis in your franchise.

  • Do you like working in an office?
  • Do you enjoy physical labor?
  • Do you have skills in recruiting and training?
  • Do you prefer managing a team?
  • Do you like working solo?

Investing in a franchise is a substantial investment, and you should choose a brand that you are ready to commit to and are passionate about. For example, if health and fitness are among your top priorities, your business should reflect those objectives. So look into franchises that promote excellent health.

The key to uncovering the perfect franchise for you is concentrating on yourself and your specific goals.

If you would like to talk about your goals and choosing a franchise, please schedule a quick call with me.

Why Is Franchise Discovery Day Important?

A well-planned franchise Discovery Day benefits both franchisors and franchisees. It should be educational, intriguing, and exciting. 

A franchise discovery day is an essential aspect of learning about new business opportunities. And, if investors are going to spend their time, money, and effort in a business, it is critical that both they and their franchisor get the most out of the event.

Prospective investors can learn more about a franchise opportunity during Discovery Day, and franchisors can meet potential franchisees. For years, franchisors have viewed Discovery Day as an essential component of the process since it plays a significant role in brand growth.

Discovery day is like a final interview with a company. You’ve done a lot of research, you like what you’ve heard, and now it’s time to get a feel for the people. Do I trust them? Are they competent? Do I want to be partners with this franchise?

I call discovery day the “gut feeling day.” I know that sounds a little strange, but you wouldn’t be going out there if you didn’t believe that this is a good company. You’ve heard that the model works, the franchisees are happy, and you’ve validated strong earnings. Now it’s time to let your instincts or gut take over.

So, how do you confirm this franchise is a perfect match for you?

Prepare a list of questions you’d like covered at Discovery Day. Where do you need information? Do you have outstanding concerns? Do you have questions about their CEO/President or what makes a top-performing franchisee?

Read the franchisee agreement to get comfortable and have any last questions answered.

Dress to impress. Think of this again as a final interview. You want to bring your “A” game! Business casual is typical, be comfortable.

So, if you have a concern, please bring it up. Just start with a positive statement about the company.

If you raise your hand and say, “I have a concern about marketing.” That might not sound incredibly positive.

If you raise your hand and say, “You have such a great culture of franchisees, and everyone has been so helpful so far! I still have concerns about marketing. Can we talk about that?”

It’s the same question, with completely different approaches.

At the end of Discovery Day, most franchisors will meet with their approval team and have a decision for you within a couple of days. And most franchisors will require a decision from you soon after Discovery Day.

So, most importantly, relax, be yourself, and have a great time!

When you leave, you will know the answer if this is the right company for you. If you have done your research and you let your gut instincts take over on Discovery Day, you will know when you leave that day if this is the franchise for you.

Find out more about Discovery Day by scheduling a quick call with me.

Did You Know Many Women Find Franchise Ownership a Great Fit?

The stigma has been - Life in the corporate world is difficult. The hours are long, and traveling is stressful. However, these challenges become inspiration and dreams for entrepreneurship and balancing work and family life.

Franchises, like any other business, are quite demanding. However, they have appealing advantages since franchises have allowed women to make decisions that will improve several aspects of their careers and personal lives.

Women Seek Flexibility

One of the most desired benefits to a franchisee is a flexible work schedule. Building equity and cash flow while controlling the hours they work.

A franchisee may be able to work part-time on the business while a manager oversees day-to-day operations. In addition, franchise flexibility attracts women with families  because work, kids, and everyday tasks meld together more easily.

There Are No Limitations To A Woman Franchisee’s Success

A franchise does not limit opportunities. Instead, the opportunity is greater because it’s based on your talent and effort. You are not someone’s employee. Instead, you are in control of your destiny. 

Training And Business Support Are Keys To The Franchise Model

Anyone considering franchising should consider the training, assistance, and business expertise they will receive from the franchise. Remember that the franchisor wants you to succeed and has a vested interest.

You will begin on your franchise journey with supportive business partners, whether you are a woman or not. It has been shown that women can be more collaborative, and having a support group means you are not alone.

Women may choose franchising for many of the same reasons that men do. But, with so many benefits that cater to women's particular qualities make franchising an excellent choice.

If you’re ready to become a successful business owner, please schedule a quick call with me.

What Franchise Financing Options Are Available To Veterans?

You are not alone if you are a veteran considering purchasing a franchise. Veterans own thousands of franchises, and the U.S. Department of Veterans Affairs supports franchise ownership as an option for former military service members and officers interested in starting their own businesses.

The VetFran Program of the International Franchise Association (IFA)

Participating franchisors in the IFA's VetFran program provide discounts and other financial incentives to veterans who have been honorably discharged from the United States military services.

The VetFran program now has over 600 franchisors participating. The IFA assigns up to five stars to participating franchisors, with higher ratings reflecting the IFA's assessment of the franchisor's dedication to VetFran values.

Of course, in addition to studying these evaluations, veterans interested in VetFran franchise possibilities should conduct their own complete research.

Small Business Administration (SBA) Veteran Funding

This loan is a common way to finance a franchise. The SBA Loan was designed to lower the risk for the lenders via a guarantee on the principal. The SBA Loan was a program of the U.S. government to assist with risk. If there is real estate involved, a part of the loan is directly funded by the government.

Patriot Express Loans

The SBA recently began offering Patriot Express loans to military families who want to start or grow a small business. If you are a veteran, an active-duty servicemember under the Transition Assistance Program, a service-disabled veteran, a reservist, a National Guard member, or the spouse of those listed above, you can apply for the Patriot Express Loan.

Additional funding options

  • Cash
  • Conventional Loans
  • Franchisor Leasing
  • Retirement Plans
  • Direct Franchisor Financing

If you have questions about buying a franchise or would like more information about veteran benefit programs in franchising, please schedule a quick call with me.