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Franchising Path

Connecting You to Your Future

Should I Search For Franchises on My Own or Use a Franchise Consultant?

Posted on February 10, 2022

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Are you thinking about franchising for the first time? Then it's time to seek professional guidance and support.

With the vast number of businesses available, the process of investigating franchise options can be daunting. There are approximately 4,000 franchises available today, and the entire research process may be intimidating.

A professional and experienced franchise consultant should assist you in locating the best franchise for you.

My duty as a franchise consultant is to save you time and remove the stress from the process. I investigate all franchise opportunities available to you, narrowing your selections and assisting you in avoiding pitfalls. I will also inform you of the most recent trends and best practices. In a nutshell, I use my industry knowledge to assist you with your franchise purchase.

The Advantages of Hiring a Franchise Consultant

I will advise you of your options. If you are new to franchising, I will guide you and help you find all possible options that meet your criteria.

I can help you save money. Investing in the incorrect franchise might have serious financial ramifications. A good consultant, on the other hand, will assist guide you in the right direction.

Above all, I will save you time. Purchasing a franchise involves a lot of back and forth. You must conduct extensive research and filter through extensive information and data. A qualified and experienced consultant can save you time and guide you through the entire selection process.

Choosing from so many franchise opportunities might be difficult. Using an experienced franchise consultant should help reduce the stress by providing clear communication as well as honest analysis of your business opportunities.

If you're in the market for a franchise consultant, please schedule a call here.

Posted on February 9, 2022

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You may be satisfied with your job. Maybe you enjoy your coworkers, your boss is a nice person, the company appears to be doing well, and you are completely satisfied with your current income.

If this describes you, you should think about becoming a franchisee.

This may appear to be counterintuitive. After all, why would you quit a job you enjoy just to take a chance on business ownership? Actually, there are several compelling reasons.

No job is secure.
You could lose your job with only one economic downturn. When it comes to your career, you may feel like you have firm footing beneath your feet right now, but it may all be taken away by factors outside your control. A worldwide recession, a new competitor that renders your products/services obsolete, a market shift, an irresponsible CEO, a sale, a merger, a simple change in direction for the firm, any number of factors might disrupt your present employment, and you will have little influence over any of them.

While these same factors might affect you when you run your own business, the main distinction is that you have greater control over how much they impact your business. When you work for someone else, you have no idea how well they are performing their job or if they are looking out for your best interests. When you run your own business, you know precisely how well the person at the top is doing because that person is you.

The longer you work for a company, the lower your lifetime earning potential.
Staying at the same job for even two years reduces your lifetime earning potential by half. The typical yearly rise for a company employee is roughly 3%, but average annual inflation is usually 1.5-2 %, so the 3% raise only works out to about 1%. When compared to starting a new job, you will normally earn 10-20% more than your former position. That suggests you'll have to keep changing jobs for the remainder of your career if you want to optimize your lifetime earning potential.

When you own your own business, your lifetime earnings potential is considerably more than when you work for someone else. In your own business, the more you work, the higher your lifetime earning potential, as opposed to working for another company, where harder work does not correspond to a higher lifetime earning potential.

Even if you enjoy your job, you are still contributing to the wealth of someone else.
When you work for someone else, whether it's a privately owned corporation, a publicly-traded company, a government institution, or another business, all of your efforts go toward increasing wealth for the owner, a few senior executives, and investors.

One of the many ways you might build wealth for yourself is to start a business. When you buy a franchise, you are creating wealth for more than just yourself. You are also creating a legacy for your children, giving them a head start in life.

Even if you are happy in your current position, it is worthwhile to investigate your franchising opportunities. When you become a franchisee, you may end up becoming a wealthy business owner, and you will have all the support you need to make it happen.

If you would like to talk about your franchising options, please schedule a call here.

Posted on February 8, 2022

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You want out of your full-time job, but how can you put a safety net in place before quitting your corporate job? You can accomplish this through franchise ownership.

Running a franchise part-time while you're still working is doable and maybe a smart option to reach your personal and financial objectives, whether you're happily employed, sick of the corporate rat race, or stuck in dead-end employment.

Here are three compelling reasons why it is a good idea:

1. Get Out of the Corporate World
If you're unhappy at work, fear downsizing, or are simply bored of the corporate world, a franchise can help you generate an additional income stream on the side. This supplementary income source can serve as a safety net, allowing you to quit your job on your own terms. You may wish to remain in your current position while the franchise grows to a financially comfortable level. Then you're free!

2. Your Retirement Objectives
You want to leave your job, but you don't believe you'll be able to reach your retirement targets. Owning a franchise on the side can help you build equity in a business that you can sell for a profit when you retire. Alternatively, you can maintain the franchise after retirement and use the earnings as a source of income.

3. Lay a Foundation for Your Children and Grandchildren
A franchise may be an excellent asset to hand down to your children as a continuous source of income. Or they can sell it for a lump sum that they can spend whatever they choose.

How do you manage a franchise while also working full-time? It may appear difficult, but it is simpler than you think.

Many franchises are designed to operate on a semi-absentee basis. This means that the owner is not required to handle the business full-time. Instead, they can hire people to operate the day-to-day operations of the business while continuing to work for another company or devote more time to family and hobbies.

The semi-absentee ownership model is ideal for people who work full-time or part-time, as well as parents who must balance work and family duties. It offers a high level of flexibility, allowing users to choose a schedule that fits their lifestyle.

I can match you with a quality franchise that best fits your specific goals and lifestyle needs.

Please schedule a call here.

Posted on February 3, 2022

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Whether you are new to investing and want to make your first financial investment or you have been investing for years, you must grasp the principles of financial investing. Even if you only have a basic understanding of financial investing, you should be aware of the dangers associated with each of your assets.

Every type of investment has some level of risk. For example, if you own real estate and the market drops, your investment is in jeopardy. The same is true for stock prices. If the market falls, your stocks are in danger.

We weigh the risks when we make investments, but do we actually believe the investments will fail? Unfortunately, many people do not consider the risk until the market crashes, and they are left with nothing.

That is why it is so important to diversify your financial portfolio. If you have the means, it is wise to avoid putting all of your eggs in one basket and investing in several different things. 

Most people invest in stocks and real estate, but franchising is also a great choice.

You Have Control Over Your Investments With Franchising
You have total control over the ability to generate additional money as a franchise owner. The possibilities are limitless. With a strong team of employees and a good marketing plan for your franchise, you can increase revenue. 

You may be as hands-on as you want with franchises. You can have full ownership, in which the franchise is your full-time job, or semi-absentee ownership, in which you work just 10-15 hours per week and employ a team of managers to run the business.

Increased Potential for Return
As a franchise owner, you have the potential to make a larger return on your investment than you would with other types of investments. For example, if you own a franchise with skyrocketing sales and want to sell it, you will get a greater return when you sell it.

Reduced Time Commitment
The initial few months of owning a franchise might be chaotic as you strive to get the business up and running. However, things begin to fall into place after a year in business, and you become accustomed to how it functions. At that point, the business is making more money, and you're free to pursue other interests, such as spending time with family or investing in additional franchise opportunities. Franchising is popular among investors since it may be profitable even without a significant time investment.

If you are looking to diversify your financial portfolio, now might be the ideal time to take the jump. As the market crashed in 2020 due to the pandemic, many investors now realize the importance of diversifying financial portfolios.

When you buy a franchise, you receive a proven business model, marketing support, proven systems, operating procedures, and many more benefits. It is a great opportunity for investors.

Would you like more information about the importance of portfolio diversification and the benefits of franchise ownership?

Please schedule a call here.

Posted on February 2, 2022

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Many people believe that becoming a franchise owner requires sacrificing their current income, business, or career. After all, starting a new business requires a significant amount of time and effort. Or is it possible to do both?

It is entirely possible to manage your franchise while maintaining your day job and earning additional money. With a semi-absentee franchise model, you can build a business and generate additional cash while keeping the career you love.

What Exactly Is A Semi-Absentee Franchise Model?

You take on additional operational or administrative responsibilities as a semi-absentee owner. For example, you will be in charge of growing the business and developing a team to assist you with responsibilities.

It's an ideal solution for franchise owners with extensive business expertise who want to devote more time to family or their jobs. Despite the effort required, many franchisees consider starting a new business as an opportunity to enhance their work-life balance.

The Advantages of the Semi-Absentee Model

You are free to take on as many projects as you choose. Some franchises allow you to choose whatever responsibilities you wish to focus on, such as marketing, sales, or accounting. You may, however, take an even more hands-off approach if you like.

This model allows you to leverage your abilities, expertise, and interests to expand your business and stay motivated.

Some Semi-Absentee Franchises you may NOT have thought about?

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

Owning a franchise lets you establish a profitable business while keeping the career you love. This makes business ownership an attractive option for anyone who wants flexibility and additional income streams.

Are you interested in a semi-absentee franchise? 

Please schedule a call here.

Posted on February 1, 2022

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A recent survey found that 62% of Americans aspire to start their own business. So, if you're one of them, you're probably asking yourself if now is the ideal moment.

Investing in a franchise rather than a startup is a terrific way to make your dream of business ownership a reality. I'll show you how to recognize the signs indicating when to make a move.

After years of working for someone else, you may feel ready to work for yourself. This is because you've learned vital skills on the job. Regardless of your industry, you've probably learned a lot, including specialized and in-demand soft skills. Then, when you establish a franchise, you can put that expertise to use in a new way.

Ask yourself if you've seen any of the four concepts below coming up in your life recently.

Signs That You're Ready to Own a Business

1. You want to be able to work from home. If you're unhappy with the 9 to 5 workweek or want to spend more time with your family, a franchise can provide you with that freedom. Business owners like putting in the time to build their dreams, but they benefit most from creating their schedule around their lives, not the other way around.

2. You want to be your own boss. Even if you like your employer, working for someone else might be exhausting. You might feel that all of your efforts and good ideas are only for the benefit of others. As a result, it's difficult to stay motivated. However, when you own a franchise, you will understand that every minute of your hard work affects your bottom line.

3. You want to start a new career without having to start from scratch. Many people want to change careers but cannot afford to start from the beginning. It might feel difficult to return to an entry-level job as you progress in life, gaining more responsibilities and possibly a family. Some people opt to obtain a college degree in their desired new career, but not everyone is willing to make time and financial sacrifices. With proven methods, training, and marketing assistance, a franchise with an established brand puts you ahead of the competition. And you don’t need a degree. Only 26% of independent business owners have a college degree.

4. You would like to make hiring decisions. You've already experienced what it's like to submit resumes, go to interviews, and impress hiring managers. If you want to be on the other side of the table and be empowered to make smart hiring decisions, you're ready to start a business. Having a franchise allows you to generate jobs in your community and work with skilled and deserving individuals.

Franchise opportunities present the chance for a whole new chapter in your life. Sometimes, the signs line up and tell you it’s time.

I can share a tried-and-true path and assistance to help you achieve your dream of business ownership.

Please schedule a call here.