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Franchising Path

Connecting You to Your Future

Franchise

Franchise Investment vs. Real Estate Investment

An investor's mindset is the same whether they are investing in a franchise, a piece of property, a stock, or anything else.

Investors want to build their wealth, as well as their net worth and passive income sources. They want to build equity, and real estate and franchises are the best ways to do so.

Real estate is appealing because properties appreciate over time and require little money to manage and maintain compared to the asset's value.

Franchises are appealing because they are tried-and-true, effective systems that have been made simpler so business owners without specialized industry experience can still manage them.

Due to a variety of factors, including back-end support and infrastructure, training provided to a franchisee's employees, research and development done by the franchise, advertising and marketing, access to funding, and an endless list of other benefits, franchisees can produce a positive cash flow very quickly and yield a high return.

With a franchise, no other type of business strategy has been as straightforward as this. Because of these advantages, franchises build equity each month that they are in operation, and with a good franchise, a franchisee can expect a positive net return.

So, for an investor, franchising is a great way to build wealth, passive income, and equity growth. Therefore, if you are a serious investor, you should consider a franchise to diversify your wealth.

If you’re an investor and would like to add a franchise to your portfolio, please schedule a brief call with me.

Looking For An Additional Income Stream? Franchising Is The Answer

If you want to supplement your income, owning a franchise could be the perfect option. Whether you're an employee, an existing business owner, or a retiree, owning a franchise is a great way to earn additional income.

You can enjoy the independence of owning a small business while receiving the support of the franchise's established systems and network if you own a franchise. Franchises provide the advantage of generating repeat business for a consistent stream of income.

If the franchise allows for absentee or semi-absentee ownership, you can run a successful business without quitting your day job but while earning an additional income.

When you own a semi-absentee franchise model, you can devote time to developing your managers while fostering loyalty and trust. When evaluating a franchise, consider how many of the owners own multiple locations.

Many salon owners, for example, own multiple locations. They obviously operate as absentee or semi-absentee owners and do so successfully. Knowing that other business owners are succeeding should instill confidence in you that you can as well.

Here are some types of franchises that offer semi-absentee or executive-operated type ownership. They might be the best options for you to start with.

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

Regardless of your current career or job status, owning a franchise is a great way to create an additional income stream.

Are you interested in an additional income stream? Please schedule a brief call with me.

Should You Expand to Multi-unit Ownership in an Economic Downturn?

Recessions are nearly impossible to predict with 100% accuracy, but certain franchises have a better chance of surviving one. Some industries frequently face greater challenges during economic downturns when consumers watch their spending more closely.

However, many recession-proof franchise industries provide essential goods and services that are in high demand regardless of the state of the economy.

While no industry is truly recession-proof, those franchises that offer necessities and even what might be considered minor luxuries are in a good position to maintain and expand their business during trying times.

Even during a financial downturn, owning more than one franchise unit is a viable option for many business owners. Multi-unit owners can shift their focus to expanding their network of locations. Managers and other senior staff are frequently delegated operational tasks so the owner can focus on growing the business.

Owning multiple franchise units, particularly within the same market or brand, has certain economic and efficiency advantages. Aside from increased income, many multi-unit owners value the revenue diversification that comes with managing more than one franchise location.

Owning multiple franchises is sometimes a safer investment because you do not rely on a single site for your revenue. Rather than relying on a single source of income, multi-unit owners can spread the risk across multiple locations, resulting in an optimal operating environment for generating incremental wealth.

When you scale a business through multiple unit ownership, you have more sources of income as you expand and are better equipped to handle unforeseen economic downturns.

If you’re ready to grow your wealth and expand your franchise, please schedule a brief call with me.

Discover How My Candidates Are Succeeding as Entrepreneurs

In today's economy, franchise opportunities are endless. A closer inspection finds that not all franchises are the same, though.

There are many benefits to working in the franchise industry, including some recession-resistant brands with low start-up costs and low overhead. Additionally, working your own hours and taking charge of your own decisions may enhance the quality of your life.

I'd like to tell you about Drew, one of my thriving franchisees. Here are his thoughts.

Question: What were the top three things (characteristics) you were looking in a business?
Answer: 1. Be my own boss. 2. Own a business that is in my backyard where I can help give back to my community. 3. A company that allows me to not be involved in day-to-day operations.

Question: Did you experience fear/hesitation/anxiety at some point?
Answer: I had a lot of anxiety and fear, but it was mostly because of what I didn't know. As we walked through the process and you answered questions, my fear/hesitation/anxiety were minimal.

Question: When? How did you deal with it?
Answer: I think that the majority of these hit at the beginning because I was not sure what type of franchise was right for me. Plus, as we got to the financials and I was(n’t) sure about the stages and how the loans worked out. I'm still a bit nervous, but it makes more sense as you are talking to each team and the timelines match up.
I dealt with it mostly by doing my research, attending calls with the franchisors, and asking a lot of questions to you, the teams, and former business partners. I felt over prepared for each step of the way and ahead of other people.

Question: How valuable did you find talking with franchise owners?
Answer: I thought talking to business owners was an extremely valuable part of this process. One thing that I would have to have had, would be a few more sample questions to ask. It's hard to figure out questions for things that you don't know yet. However, they were extremely helpful on next steps and what to expect from finding a locations, hiring staff, sales/marketing, pre­opening, and Grand Opening.

Question: Anything especially surprising or interesting?
Answer: I'm not sure if there were any surprises that came up, but I'm surprised how many people were testing the waters in the process and dragging their feet to move forward. I didn't think that I would be one of the first people to sign up after Discovery Day, but Ryan helped answer all my questions and prepare me for each step and I did the necessary homework/research that once I finalized Discovery Day and validated my questions; I felt comfortable to pull the trigger quickly.

Question: Did you find them or change to something else?
Answer: Initially, I was looking at a small IT company to support Small to Mid­Size companies. However, after talking to Ryan, I realized this role wasn't any different than being an Account Executive with a paid territory. That was not what I was looking to do and after I learned more about Boutique Fitness, I changed my direction.

Question: Did you feel well-equipped at the start of the validation process?
Answer: After preparation calls with Ryan, I felt extremely prepared for what steps were coming and what to expect at each phase.

Question: If not, what could you have known before?
Answer: There is so much going on, that it's best to take it in incremental steps. Don't over plan. Just take one step at a time. I thought the process was laid out well and prepared me for what was coming up and any concerns.

Question: When did you know that this was the right franchise for you?
Answer: I was pretty sure after I saw the Financial Disclosure Document and discussed some options for what I was looking for and what Franchise would be the right fit for me. I validated all my final questions after sitting at dinner with the President of Row House the first night of Discovery Days. However, my decision was pretty clear after the 2nd Day of Discovery Day and their team laid out an impressive presentation for each step of being a Franchisee and how they would support me up to Grand Opening and beyond for me, my GMs, Regional Manager, Staff, and Coaches.

Question: Do you think you would have found this business without my help/guidance?
Answer: I don't think that I would have found Row House if I didn't find Ryan and talk to him about what I wanted to accomplish.

Question: What did you think about the unique perspective I gave to you being an experienced multiple-unit franchisee?
Answer: It goes a lot farther when you can validate questions with someone that is part of the Xponential Fitness family. It’s another way to talk to a franchisee that also understands what you are going through and helps you understand the process and what questions are important to address.

Question: Now that you have gone thru my process, What advice would you have for someone that is thinking about owning a franchise?
Answer: I think the biggest advice that I would give them is that if you don't try to tackle everything at one time, it's doable. Also, if you are not happy with the Corporate life and looking for other options, that it's worth your time to listen to what is possible. Plus, understand the difference between getting a paycheck and wealth management. Once you understand tax ramifications and how you can fold more into your company, you realize that making a nice base is not the biggest factor with having a job/owning a company.

Let me help you find your path to franchise ownership. Please schedule a brief call with me.

This Franchise Makes a Lasting Impact with Little Competition

This affordable business opportunity is in an underserved segment of the restoration industry. One of the most overlooked components of the booming restoration industry is the restoration of people’s belongings and contents.

Water damage, fire, and any other disaster doesn’t only destroy a home. It destroys the items that make up someone’s life. Restoring furniture and contents is a much-needed business that helps people and can allow a savvy entrepreneur to build an enviable business.

You can own a business that makes a lasting impact. This franchise excels in helping homeowners get back the things that make their homes feel like home, from furniture to photos and beyond. This franchise restores everything to its pre-damaged state.

The best part? You don’t have to have any experience in the restoration industry to succeed. Being a part of this franchise gives you world-class training and ongoing support, including coaching from a visionary leadership team that has built and scaled content pack-out and restoration businesses.

From a franchisee's perspective, here is what I love about this type of franchise:

  • Full-service Contents Capabilities with Advanced Specialties
  • Underserviced Sector of the Restoration Industry with In-Demand Services
  • Large Territories and Major Markets Available
  • Financing is Available on up to 100% of the Total Investment
  • Ongoing Support and Business Coaching
  • Strategic Partnerships with National Vendors for Supplies, Equipment, and more
  • National Brand Visibility and Uniformity
  • Nationwide Referral and Partnership Opportunities with Sister Brands
  • Backed By a Worldwide Leader in Property Restoration

If you want to own a business that provides a meaningful service to your community while also capitalizing on a growing need, then this franchise is the right business opportunity for you.

I look forward to sharing more over a conversation with you.

If you’d like to begin your path to franchise ownership, please schedule a brief call with me.

Lessons Learned by Walking in My Candidates’ Shoes

As a successful franchisee, I've been in my candidates' shoes and can speak to the value of what I do as a franchise consultant and the process I employ.

I strongly believe in the power of franchising, and in addition to being a franchise consultant, I have owned a franchise. I opened my first franchise in 2008, grew it to eight locations, and sold it for a profit a few years later.

I decided to walk through the same process I follow with my candidates as if I was buying my FIRST franchise again!

Here are some of the most important lessons I learned.

A Methodical Approach is Effective
I gathered the information I needed to make an informed decision. First, I identified brands that I wanted to investigate further. Then I used the discovery process and the questions that I always suggest to candidates.

Feedback and Guidance are Crucial
I collaborated with my fellow franchise consultants in the same way that I would with my candidates. They asked thoughtful questions and shared their perspectives. I have a lot of franchising experience, but I would not have been as confident in my decision without the support of my peers.

There is No One-Size-Fits-All Solution
Fit is important. Fit is essential for successful franchising. A franchise must take into account a person's time commitment, skills, strengths, interests, finances, values, and other factors.

You Determine The Business’s Performance
Franchisees who implement the system with leading franchises perform well.

There is No Such Thing as 100%
I made my decision when I was 80% certain I had discovered the right franchise. Except for death and taxes, nothing in life is certain. However, franchisees can set themselves up for success by conducting thorough due diligence and following the franchisor's proven system.

I learned a lot during my franchise exploration process that will help me become a better franchise consultant and do what I love as a franchise consultant, helping others become entrepreneurs.

Would you like to learn more about my franchise experience and how I can help you? Then, please schedule a brief call with me.