Franchising Path

Connecting You to Your Future

Franchise

Why Should Veterans Use a Franchise Consultant?

by Leave a Comment

Military service members rely on one another for support in the line of duty, frequently in terrible conditions. Military service brings a unique set of challenges. They must overcome all challenges to fulfill their mission.

When military personnel retire, they frequently start on a new mission in life, searching for their future career. Because of their high business success rates and because veterans thrive as franchise owners, franchising is a popular career path.

They succeed by adhering to a tried-and-true system, possess strong leadership and problem-solving abilities, and can complete jobs under duress with little or no advance notice.

Many veterans take it upon themselves to transition into their new careers. But, as in the military, it’s always reassuring to know someone has your back through the toughest challenges.

Your Franchise Consultant Has Your Back

When the time comes to start a new profession, buying a franchise and, eventually, becoming a business owner might be daunting. There are several franchises to pick from, as well as numerous questions to ask:

  • Which is the best fit for me?
  • How much will it cost you?
  • Are there any special discounts for veterans?
  • What legal implications should I be aware of?

A franchise consultant can help get you the answers to these and other questions, plus give you the peace of mind that comes from knowing you have the advice of someone with experience in franchising.

The advantages of working with a reputable franchise consultant cannot be overstated.

Franchise consultants are experts in:

  • Lowering your risk by identifying the franchise where you will have the most success.
  • Saving you time by presenting you with an organized, buyer-friendly approach.
  • Giving guidance by leaning on their own experiences.
  • Introduce you to brands you may have never found on your own
  • Helping you reach your goals.

Reducing Your Risk

Risk reduction is critical in business. To move forward, you must make calculated decisions. Working with a franchise consultant can help a veteran who is considering entering the franchise market but is unsure how to proceed.

A consultant may learn about your personality, important characteristics, and interests through one-on-one meetings and then match those factors with franchises that may be a good fit for you.

The consultant may also advise you on numerous possibilities you may not have been aware of and give knowledge on the details that most people overlook. In addition, the consultant will supply current, helpful information on funding and legal issues.

Saving Your Time

Prospective franchisees might feel overwhelmed by all of the options and details that must be considered. A franchise consultant can give focus, keeping you on track to purchasing a franchise while saving you time and money.

The consultant will take a buyer-friendly approach, taking into account your goals and budget and the necessary information associated with purchasing a franchise. After that, the consultant will prioritize everything that needs to be done in the best interests of all parties.

Building A Network

In addition to having a franchise consultant on your side, you will have access to a vast network of connections that can collaborate and assist you. Moreover, those contacts will have previous successful experience dealing with franchises.

Working with a franchise consultant will also provide you with access to a network of other franchisees who have used that consultant. You will be able to work with the other franchisees and bounce ideas off of them after you become a franchisee.

Free Consultation

The best part is that dealing with a franchise consultant is free. The franchise pays for the consultant's services entirely. There are no hidden consultation fees, add-ons, or additional costs. Veterans, like franchise consultants, are proud of their honesty and integrity. Franchise consultants, like veterans, are proud of their honesty and integrity. 

If you believe in the old saying "time is money," you can see how working with a consultant will help you save money. Consultants can assist potential buyers in navigating the maze of possibilities quickly since they examine the market regularly.

It is important to note that a franchise will charge you the same whether you work with a franchise consultant or not. In other words, the price is the price.

A franchise consultant is there side-by-side with you through every step of the process. So, if you ever have a question or need a resource, your franchise consultant has the answers.

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

How a Corporate Job Prepares You for Franchise Ownership

by Leave a Comment

You've spent your entire career in a corporate position that provides you with a steady paycheck and stability. But is that all you want from your life?

Are you tired of these constant roadblocks at your corporate job?

  • Do you have an idea that you want to put into action? Ask your boss.
  • Do you need to take some time off? Ask your boss.
  • Do you want a raise? Ask your boss.

Are you passionate about working in the corporate world for the rest of your life? You've always wanted to start your own business. But now you're wondering if all of the time you've spent working for others has limited your ability to be your own boss.

Your time spent in corporate America was not worthless. Many of the essential skills you learned, like time management, teamwork, employee management, and communication, will immediately help you as a business owner. These are all transferrable talents that will put you in a good position when you're ready to start your own business.

Here are just a few of the benefits you gained from your corporate experience:

Immediate Credibility

Building a successful career in the corporate sector offers you immediate credibility when you decide to start your own business.

Culture Building

You've witnessed firsthand how important it is to create a great culture with strong chemistry in order to sustain a happy workplace. Many of the same culture-building methods you witnessed in the corporate setting can be applied to your business.

Critical Processes

The list of critical processes you've been exposed to while working for others provides you a significant edge when it comes to running your own business. Time management, budgeting, sales, collaboration, strategic planning, and attention to detail are examples.

Team Management

Your previous management experience gave you significant skills in hiring the right employees, establishing and overseeing a team, defining professional development goals, and mentoring.

Aside from the expertise you provide, investing in a franchise eases the move from the corporate world to business ownership. A franchise gives you an established business plan as well as a support system from both the corporate office and your network of other franchisees.

Interested in transitioning into a franchise owner? Please schedule a call here.

4 Reasons Diversifying Your Portfolio With A Franchise Can Help Preserve Your Finances In The Long Run

by Leave a Comment

Franchise ownership has long been a popular wealth-building strategy among Americans. It provides the advantages of owning an income-generating business while avoiding the risk of launching an independent start-up.

I have four key aspects of the franchise model which make it an ideal long-term alternative for diversifying and preserving your assets, even during times of high inflation or market downturns.

Amazing ROI Opportunity

To combat inflation, your investments must outperform the market. The greater your returns, the more protection you'll have against unavoidable cost increases, especially during periods of higher-than-average inflation. Even with high-yield savings accounts and CDs yielding far below 2% interest, these options will only keep you afloat at best.

Depending on the franchise and the amount of your investment, the typical return on a franchise investment makes it a strong option for wealth building and inflation protection. Furthermore, these businesses have a reasonably quick time to profitability. As a result, in a relatively short time, you may begin to improve your portfolio or utilize the extra money to enjoy more freedom sooner.

Other alternative investments may have comparable ROI potential, but they are riskier and have hold times of five to ten years. That's a long time to have to wait for results.

Diversification That Is Recession-Resistant

Investing in franchises diverts your money away from market ups and downs, lowering your risk while delivering consistent, dependable income year after year. This allows you to capitalize on favorable market conditions while relieving the financial path during a market downturn.

For numerous reasons, franchises are a recession-resistant investment. For starters, they are frequently service-based enterprises. When a company meets a basic consumer need, such as auto and home repair, personal care, waste management, healthcare, or education, it can weather a recession more effectively.

Additionally, franchise businesses do not "go it alone." They benefit from a tried-and-true management and operating approach, as well as a franchisor who has a vested interest in their success. This additional level of assistance can help franchise owners in navigating difficult economic times.

Inflation Protection That Is Dependable

Because franchises are based on products and services, they provide some inflation protection. As the cost of products and services grows, business owners can raise their prices accordingly. Despite inflation, customers will continue to come through the door since franchisees provide essential needs. Revenue for these businesses may grow in some situations during periods of higher inflation.

Compared To Typical Start-Ups, Franchises Are Less Risky

Starting a business is an excellent way to take charge of your financial destiny. It enables you to create a supplementary income source while also protecting against inflation.

Franchise investments eliminate the headaches of starting an independent business. They run according to a well-established franchise plan with carefully laid out marketing, operations, and financials. As a result, the tried-and-true framework can assist business owners in avoiding "reinventing the wheel." This can lower the risk for new entrepreneurs.

If you would like more information about the importance of portfolio diversification and the benefits of franchise ownership, please schedule a call here.

Are You Retired But Want An Additional Income Stream? Franchising Could Be Your Best Opportunity

by Leave a Comment

Retirees today are active and energetic. You’re ready to leave the monotony of everyday corporate life, but you still want to keep your mind engaged and find an additional source of income to supplement your retirement assets. So, what comes next?

Believe it or not, there are several rewarding and profitable opportunities after retirement. You can still find time to travel, play golf, and do everything else you've always wanted to do in retirement.

For retirees, franchising provides excellent business opportunities. You may reinvent yourself without the hassle of re-entering the workforce or building a business from scratch by investing in an absentee or semi-absentee franchise.

You can enter into an established business model with the necessary training, support, marketing, and branding in place. When it comes to franchise ownership, there is less risk involved, making it a safer and easier option.

With your franchise, you can utilize your previous experiences and apply them to your business. Soft skills, such as communication, problem-solving, and connection building, are more important than specific market knowledge in running a franchise. You also have the option of changing industries and doing something completely new.

You might think that operating a franchise will take more time and effort than you are willing to dedicate in retirement. However, you may be surprised to learn that many franchisors have built their business models to allow absentee or semi-absentee ownership. When it comes to the actual work, you can be mostly hands-off.

There are almost no limits when it comes to franchising options. You'd be surprised at how many industries allow absentee and semi-absentee ownership. Here are a few examples:

  • 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 but, with a franchise, might be the perfect fit for you. Imagine fulfilling your retirement dream of traveling the globe while operating your own business. It’s never too late to make your retirement goals a reality.

Are you near retirement and interested in an additional revenue stream? Please schedule a call here.

This Boutique Fitness Brand Is Making The Competition Sweat…And Its Members

by Leave a Comment

The fitness business is one of the most popular franchise opportunities. As of January 2022, there are approximately 106,000 club and boutique fitness franchises in the U.S. In addition, the fitness franchising industry reached $33.25 billion in overall market size in 2021. That's incredible!

This franchisor established the hottest new global fitness community through decades of experience. In a dynamic group atmosphere, they've blended scientifically proven training methods that are guided by accredited instructors.

They're searching for owner-operators who wish to work hands-on in the business or entrepreneurs who want to generate new revenue by assigning studio managers on their behalf.

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

  • It fills a gap in the marketplace.
  • Executive model/semi-absentee.
  • A scalable, high-value proposition with a reasonable price point.
  • Membership-based.
  • Recurring revenue with a straightforward, manager-operated business model.
  • Minimal staff.
  • An 8-week progressive training model.
  • No need for specialized employees. The instructors incorporate scientifically proven techniques.
  • 130+ locations open globally.

Boutique fitness franchises have experienced trainers, high-quality facilities, and motivation for individuals who want to improve their overall fitness and health. The community that these franchises create is one-of-a-kind, making franchise ownership both rewarding and fun.

Boutique fitness studios have gained traction in both the fitness and franchise industries, providing customers with a high-quality experience and the power to improve their health and fitness that big-box gyms cannot provide. In addition, these smaller studios have become a sanctuary for members looking for a more personalized and concentrated training as well as a home away from home.

Trainers are more hands-on and active in member growth. This individualized approach fosters a feeling of community among members, resulting in excellent retention rates.

Big-box gyms may have ten times the equipment as smaller studios, but they often fail to engage members as effectively or inspire the same excitement.

So, why should you choose a boutique fitness franchise over a big-box gym? Aside from the decreased overhead and investment level, there is also the feel-good factor. People are drawn to the communal atmosphere and the ability to make others feel better about themselves.

Find out how to join this highly-successful international brand with a franchisor that has proven to be a leader in the industry. I look forward to sharing more over a conversation with you.

If you’d like to begin your journey to fitness franchise ownership, please schedule a call here.

When Should You Expand Your Franchise?

by Leave a Comment

When deciding to launch your next franchise location, there are a few key indicators you should look for. It takes more than a desire to generate more money to expand your franchise business. You should verify that your product has a large enough consumer base and a strong enough demand to make the new location a success.

Important Factors to Consider

Extending your franchise business is a significant step. However, you should first  consider these factors:

  • Is your existing location's consumer base too large for your personnel to handle?
  • Is it possible to accommodate the overflow by simply expanding the size of your business?
  • Is your consumer base substantial enough to justify a second franchise location?
  • Have you decided on a location for your second business?

Below is a list of key variables I assembled that can help you determine when to launch your next franchise location and assure its success.

1. You Have Many Loyal Customers

If you have a significant number of regular, loyal customers and your client base is growing, it suggests there is a steady increase in demand for the product or service you offer. Repeat consumers are essential to the success of any franchise. When you observe a consistent, recurring revenue stream year after year, it's time to think about building a second site.

2. Customers Frequently Inquire About The Possibility Of Opening Another Location

If numerous clients who regularly spend money at your existing site ask when you're going to establish a second location, it's time to expand. The ability to better serve your consumers should be the driving force behind your expansion goals.

3. Your ROI Is Increasing Consistently

If your present franchise's earnings are continually improving, it might indicate that the market is ready to support your expansion into a larger or second location. Short-term success should not be used to make this decision. However, if your client base, sales, and profits consistently grow over time, expanding into a second site might be a profitable business option.

4. Your Franchise Is In A Rapidly Expanding Industry

Examine the trends in your industry before opting to open a second location. For example, if your study indicates that your field is expanding, now could be the time to create a second site. By adding another location, you can enjoy profitable short-term rewards and enhance your franchise by offering additional items or services to clients.

5. Your Current Location Is Overwhelmed

If your franchise is drawing far more business than it can manage in its existing location, it may be time to expand. Don't wait until congestion or extremely long wait times for service begin to damage your business. Take action if extending franchise operations to a second site would help you manage consumer demand better and even attract new consumers.

6. You've Done Your Due Diligence

Opening and operating a second franchise location involves financing, franchisor consent, necessary structural adjustments, and an assessment of growth possibilities and potential liabilities. If you've done your homework and your calculations show that the outcome of an expansion is overwhelmingly positive, it's time to open a second location and grow your business.

7. You Have The Necessary Skills, Abilities, And Resources For Growth

Developing and expanding a business involves a distinct set of skills, abilities, resources, and opportunities. Examine your business's performance, client base, and prospective market size and share. If they are all in your favor, then it’s time to expand into another area where new clients are eager to spend money with you.

8. You've Put Together a Great Team

Running a profitable and effective franchise takes a collaborative effort. You must have a staff with which to share the responsibility of operating two business locations on a daily basis. If you have a team that possesses the knowledge, concentration, vision, customer service, and time management abilities required for the success of a second site, you are ready to expand.

Are you ready to expand your franchise? If so, please schedule a call here.