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Franchising Path

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Franchise

What To Look For When Searching For Passive Income Streams Through Franchising

Because a work-life balance is a primary attraction for people looking for passive income franchise opportunities, there are two factors to consider when determining if a franchise provides more personal time.

First, look for a franchisor that offers a semi-absentee or absentee franchise model. By not having to commute to and from work in the mornings and evenings, you'll have more time to spend with your family and enjoy your favorite hobbies; just to a few of their benefits.

Second, find a franchise that offers some flexibility. This will give you more control over your schedule and enable you to choose to work longer hours when you're motivated and without obligations.

You might also want to give yourself a day off. The best quality of the ideal passive income franchise opportunity is the ability to optimize each franchisee's work schedule.

When selecting the passive income franchise perfect for you, consider the impact the franchise business will make on your personal life.

According to the old adage, you get out of a business what you put into a business. However, in my experience, employing a passive income franchise that enables you to earn money while doing the things you love doesn't have to be as time-consuming as you think.

Owning the right franchise lets you establish an additional and passive income stream while maintaining the lifestyle you love.

Are you interested in additional income streams? Please schedule a brief call here.

Is Your Mind In The Right Place For Investing In A Franchise?

It's a significant thing to shift from employee to employer. There is a significant distinction between depositing a paycheck for yourself and transferring funds into your business checking account in order to pay someone else.

The question you need to ask yourself has to do with patience. Specifically, can you be patient?

Simply put, can you handle not having a consistent income until your franchise business starts to take off? Both psychologically and financially.

The good news is that you thoroughly researched the franchise you invested in, so you'll know ahead of time when you'll roughly break even and be able to start receiving a paycheck. It is a component of your business plan.

However, there are two questions you must ask yourself:

First: “Is my head in the right place to do this now?”

Second: "Am I prepared for this change in my career?"

Like purchasing your first car or house, purchasing a franchise requires a certain level of confidence. However, you did not make either purchase blindly. You did your homework.

You likely turned to others who were knowledgeable about houses and cars for assistance. And you had it in you to continue. To say yes.

You can do it here as well. Be systematic. Speak with numerous current franchise owners. Ask them a ton of questions. How did it go for them to go from being an employee to an employer? Ask for advice from them on how to do it.

If you have the appropriate mindset, the time may be right now.

Is the time right for you to invest in a franchise? If so, please schedule a brief call here.

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 Ariana, one of my thriving franchisees. Here are her thoughts.

Question: What were the top three things (characteristics) you were looking for in a business?
Answer: Ability to work the business without quitting our full-time jobs, business ability to be recession and amazon proof, a business with a strong marketing and support model.

Question: Did you experience fear/hesitation/anxiety at some point?
Answer: Yes

Question: When?
Answer: Throughout

Question: How did you deal with it?
Answer: Asking a ton of questions and then taking a leap of faith

Question: How valuable did you find talking with franchise owners?
Answer: Valuable.

Question: Did you find them or change to something else?
Answer: We initially thought we wanted to be involved in the beauty space, but changed when we were introduced to martial arts.

Question: Did you feel well equipped at the start of the validation process?
Answer: Yes. The list of questions to ask the franchisor was very helpful.

Question: When did you know that this was the right franchise for you?
Answer: When I had eliminated other franchises and really thought about how this particular one could be balanced with our life and meet our financial goals in a short time frame.

Question: Do you think you would have found this business without my help/guidance?
Answer: No. You introduced the concept of utilization and how it can keep overhead low. This was a big factor in our decision because we would have to manage less people also.

Question: What did you think about the unique perspective I gave to you being an experienced multiple unit franchisee?
Answer: We are not yet in a position to be a multiple franchisee owner. However, we have plans to steer in that direction.

Question: Now that you have gone thru my process, What advice would you have for someone that is thinking about owning a franchise?
Answer: We had preconceived notions about the industry of a business we thought we wanted but realized that the industry did not meet our lifestyle needs and goals. Be open-minded about the different franchises introduced to you, and you will know when the right one is presented. There will be fear and anxiety about joining the franchise, which can only be relieved by asking strategic questions and being brave enough to take a leap of faith regardless. For us, we just had to realize the reward was much higher than the risk.

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

This Franchise Is Making A Difference In The World Through Food

This brick-and-mortar cafe is a one-of-a-kind lifestyle brand that offers customers multiple options to pursue their healthy lifestyle goals. While customers love the food, there is even more for franchise owners to love.

The concept began franchising in 2016. Superior nutrition options, a steady dose of health and wellness education, and a diverse support community continue to gain the franchise fans at their 80 locations across the country.

Most recently, it received honors as one of the Top 50 fastest-growing small franchise concepts in the U.S. by Restaurant News Magazine. 

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

  • Low Investment: A lower investment cost than most fast-casual concepts.
  • Five Revenue Streams: These include our café menu, grab ‘n’ go options, weekly meal plans, marketplace products, and catering.
  • Small Spaces: Operates in smaller spaces than most similar concepts.
  • Attractive Hours: Flexible hours for franchisees, with most cafes closing at 7 pm.
  • Easy Management: Stores can be run with great labor percentages.
  • Simple Menu: Our menu is streamlined and easy for anyone to reproduce, whether you have food service experience or not,
  • National Brand Recognition: A devoted online social media fanbase to high-profile publicity outlets.

Find out how to join this highly-successful and healthy lifestyle brand while positively impacting your community. 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 here.

Qualifications For Selecting A Franchise Consultant During Your Initial Call

The right credentials can help you determine whether a Franchise Consultant is qualified to meet your needs, but there are other factors to consider when selecting a Franchise Consultant.

An introductory call is usually the first step in connecting with a Franchise Consultant. Consider the qualifiers listed below as the call progresses.

First impression: Does the consultant ask many questions to get to know YOU?? Do they have a system in place? Also, does their system collaborate with you to identify your top business needs?

Franchise recommendations: Does the consultant immediately send you a list and rush you off the phone? Poor franchise matches are often the result of proposing franchise opportunities too soon.

  • A knowledgeable Franchise Consultant has a systemized approach involving multiple meetings. This system will help you find your franchise matches instead of jumping in and matching you with their top three most popular businesses of the month.
  • It takes time and effort from both of you to find the right business for YOU. A seasoned Franchise Consultant saves you time and money and guides you through the investigation process.

Proven track record: It's important to ask your consultant questions about their process. You can also look at their website, LinkedIn profile, and affiliate groups so you can learn more about their level of experience in the franchise community.

Ownership Experience: Having real-world experience is important. You will feel more confident because you know the Franchise Consultant has been in your position as a business owner.

  • Has the Franchise Consultant had a business of their own? 
  • When it comes to their capacity to match you with the ideal franchise business, your potential Franchise Consultant's level of experience in the franchise industry makes a significant difference.
  • Is the Franchise Consultant willing to guide you through the education and matching process?
  • Does the Franchise Consultant give you another perspective, challenging you to look outside what you thought you knew?

If the qualifications above are a match for you, then you will want to agree to a second call to learn more about the process.

Are you ready to find your franchise match? Then, please schedule a brief call here.

Did You Know Franchising Is A Legit Side Hustle?

The development of side businesses is arguably one of the most fascinating current business topics. Whatever you want to call it: the gig economy, micro-business, passive income, or a side business. Approximately 42% of these people also have a day job.

When you consider how our working environment has evolved, the news isn't all that shocking. According to the most recent data, 30% of all Americans work a hybrid schedule, and 15% never work in an office at all.

These circumstances have created a very favorable environment for generating additional income, which is easily accomplished through franchise ownership.

There are numerous benefits to owning a franchise as a side hustle, whether you are a stay-at-home mom whose children have returned to school or an enterprise-level business owner looking to diversify your holdings.

It is entirely possible to keep your day job while earning a passive income, depending on the franchise opportunity and the circumstances of your situation.

This additional discretionary income could be useful for activities or projects that you would otherwise have to put off. For other franchise owners, starting a side business will serve as a stepping stone to expanding your business before taking full-time control.

These semi-absentee franchise models are successful when talented individuals can be recruited and retained to run the day-to-day operations. In franchising, this is referred to as a managing-the-manager model.

One of the most common misconceptions about franchising is that ownership requires your full time and attention. Actually, many of the almost 4,000 different franchise concepts available on the market are created with the intention of being run under a semi-absentee ownership model.

It is no longer necessary to give up your day job in order to own a franchise. Considering starting a side hustle through franchising? Yes, that is now a thing.

If you’d like to find out how I can help you start your side hustle, please schedule a brief call here.