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Franchise

Why Should You Start A Franchise While Still Employed Full-Time?

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.

How Can Franchising Help Diversify Your Financial Portfolio?

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.

Did You Know You Can Create Additional Revenue By Owning A Franchise And Still Keep Your Day Job?

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.

Is Now the Right Time for You to Own a Franchise? Here Are 4 Signs That You Are Ready

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.

See How My Candidates Are Experiencing The Freedom of Entrepreneurship

In today’s marketplace, franchise opportunities abound. However, careful discernment shows that not all franchises are created equal.

There are many benefits to getting into this field, including resilience against recessions, lower start-up costs, low overhead, higher quality of life, and the ability to make your own hours.

Many of my candidates have found their path to success, and I would like to share one of their stories with you. I would like to introduce you to Cynthia T. Below are her thoughts.

 

Question: What were the top three things (characteristics) you were looking for in a business?

Answer: “As recession-proof as possible. 2. Absentee ownership. 3. Brand leadership/competence.”

 

Question: Did you experience fear/hesitation/anxiety at some point? When? How did you deal with it? How valuable did you find talking with franchise owners? Anything especially surprising or interesting? Did you find them or change to something else?

Answer: “There is always anxiety when making life changes, but with your guidance, I was able to keep this process a business transaction. Speaking with the franchise owners and participating on validations call was invaluable. It helped me evaluate the prospective opportunities but it also allowed me to make connections with future partners in the brand. These connections are serving me quite well.”

“What surprised me? I truly appreciated the candid nature of the franchisors. They did not try and sell me ­ instead they instilled the desire for partnership with their franchisee partners.”

“Also, the amount of information available was instrumental in making my decision. Discovery Days are something that are so valuable ­ meeting the teams at corporate and establishing a relationship with them will serve me throughout my endeavors.”

 

Question: Did you feel well equipped at the start of the validation process? If not, what could you have known before?

Answer: “After our discussions and many calls I was fully prepared for the validation process. You gave me the questions I needed to ask beyond my own. Your guidance broadened the spectrum of questions that I needed to evaluate.”

 

Question: When did you know that this was the right franchise for you?

Answer: “At the Day of Discovery. My expectations of management were exceeded. The organization, their process of on­boarding, etc. was impressive. The leaderships teams commitment to success of the brand (and their previous experience) were persuasive. Candidly, I felt this way about all of the opportunities you presented.”

 

Question: Do you think you would have found this business without my help/guidance?

Answer: “Never and if did I would have dismissed it without your assistance with evaluation. The conversations we had over the metrics of 1 v 3 units was immensely helpful in the evaluation process.”

 

Question: What did you think about the unique perspective I gave to you being an experienced multiple unit franchisee?

Answer: “Excellent. You are a trusted advisor. I never felt that you were trying to sell me on something that was not right for me.”

 

Question: Now that you have gone thru my process, What advice would you have for someone that is thinking about owning a franchise?

Answer: “You must engage an experienced franchise consultant like yourself. I would like to emphasize the word/role “consultant”. That is truly what you were to me in this process.”

 

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

This Young Franchise is Watering Down The Competition in a High-growth Industry

Now and again, something new in franchising emerges, and I pay close attention when it does. This new franchise is a perfect example.

Following a thorough examination of the brand, it possesses the distinctive characteristics of a great franchise. They are as follows:

  • A strong franchisor and leadership team that is dedicated to serving its franchisees
  • Excellent online marketing
  • Advantages over competitors in terms of strategy
  • Catastrophe resilience (e.g., recession, pandemic, natural disaster)

All of it sounds obvious, doesn't it? Yet, you'd be surprised at how many brands fail to achieve those requirements.

First and foremost, this brand exceeds the standards mentioned above. Not only that, but it is a first-to-market franchise in the fast-growing irrigation services business. Its sales increased dramatically during COVID shutdowns because it saved candidates money.

From the standpoint of a franchisee, there are three things to love about this brand.

  • You do not need to be an irrigation expert to succeed, and the franchisor will assist you in finding technicians.
  • Your major rivals are tiny landscaping companies. They usually operate an extremely inefficient business.
  • You have the uncommon chance to be the first to market. You won't have to worry about being in a crowded market.

If you’d like more information on successful franchises, please schedule a call here.