Franchise

Is It Too Late to Add Additional Revenue Streams to Your Franchise?

Of course, having several revenue streams is essential in any franchise. They provide a proven way for an owner to reduce risk and create a more predictable revenue flow from several sources, rather than relying on a single, traditional product or service.

With numerous income sources, franchisees can reach the same loyal customer more frequently and through more points of contact.

Even if your franchise is already up and running, it is never too late to introduce new revenue streams. More services can be added to your franchise business at any time. The idea is to keep your mind open to new opportunities and to be resourceful when they present themselves.

If you own a storefront, you can add new features to your business, such as complementary services, collaborations, extended retail or other products, and special operating hours to reach a niche customer. You can also work with your franchise to offer upgrades.

Can you co-brand under the same roof with another franchising company to offer complementary, non-competing products or services?

Can your franchising brand provide higher-paid services to your consumer base?

Can you design and sell swag?

Merchandise such as t-shirts, hats, and so on may be an effective way to advertise your business while simultaneously making a sale.

You can pursue additional opportunities by collaborating with the franchisor on what may be available. You don't have to limit yourself to just one choice in order to build your franchise business.

Offering different revenue streams can typically be done with minimal cost. First, determine what your target audience wants, the cost/labor associated with the addition, then provide that need through your franchise.

To learn more about franchises that offer multiple income streams, please schedule a quick call here.

Need a Cure for Corporate Job Burnout? Purchase a Franchise and Become Your Own Boss!

Corporate job burnout can slowly creep up on you. You feel secure in your 9 to 5 position, but the mere idea of going to work disrupts your entire day, attitude, and life. It's probably hard to say when the positive attitude about work evaporated, but it did.

Job Burnout Is A Genuine Thing

Some individuals dismiss job burnout as a serious, real-world problem. However, because work consumes 50% of your waking hours, the consequences of a negative work environment can be severe.

The following are some classic burnout symptoms:

Lack of energy or passion
At the end of every day, exhaustion sets in
Dread Mondays and live for the weekend
Depression, mental fatigue, and physical issues
Moodiness at home
Sleeplessness

If you recognize yourself on this list, it's time to make a change. It might be the right time to follow your dream of being your own boss and achieving a work/life balance that makes going to work enjoyable again.

When you own a franchise, you are in control.

You have control over the size of your business.
You determine your working hours and schedule.
You are in charge of hiring and training your team.

If job burnout is making your world gray, change your world. Please contact me to determine whether franchising is the best career path for you. You can set up a quick call here.

Do You Know How to Find a Franchise?

When researching franchise opportunities, there are so many details to remember that it's easy to be confused, especially if you're looking at multiple franchises simultaneously. Unless you know what you're doing, they can start blurring together.

If you've never considered owning a franchise, how would you know where to start your research?

Before you write a check or take out a small business loan, your investment should be properly researched.

If this is your first time purchasing a franchise, how much do you know about franchising?

Did you know, for example, that the Federal Trade Commission requires all franchise organizations registered in the United States to have a document called the Franchise Disclosure Document (FDD)? And did you know that this document contains 23 particular business-related items?

Franchise Consultants, like me, act as unbiased resources to consult and aid prospective franchisees through the steps necessary to achieve their dream of business ownership.

If you've never purchased a business before, you'll need a guide to make sure nothing is missed or overlooked when you're going through the process.

If you believe in the old saying "time is money," you can see how working with a Franchise Consultant will save you money. I help potential buyers quickly navigate the maze of possibilities since I regularly examine the market.

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 an honest analysis of your business opportunities.

If you would like to talk about how I can help you with your franchise options, please schedule a quick call with me.

Six Tips for Owning a Part-Time Franchise While Working Full-Time

Lately, everyone is looking for a side business, and a part-time franchise is an effective model for many of us to increase our income.

There are many franchises available that can be managed part-time. So, how do you make running a part-time franchise while working a full-time job work for you?

Here are my six tips for juggling your part-time business and day job.

Don’t ignore your full-time job
Be strict with yourself and only work on your franchise outside of your full-time job to establish a clear mental border between the two.

Manage your time effectively
You'll need to change your daily and weekly routines to make extra time for your franchise. Set aside time to focus on your part-time franchise and try to avoid distractions during this time.You'll make your life much simpler after establishing a schedule that works for you.

Identify low-cost franchise opportunities
Many part-time franchises may not need a large investment in equipment, a storefront, or cars simply to get started. This means you'll earn more money faster than other franchise options.

Ask for help if you need it
One of the main benefits of investing in a franchise is its ongoing support. If you're having trouble fitting everything in and need assistance with some elements of your business, seek advice from your franchisor.

Follow the system you purchased
One of the best features of investing in a franchise is that you don't have to start from scratch to succeed. The systems are already in place. All you have to do is stick to the system to get a strong return on investment. Keep in mind that the franchise is set up the way it is because it works. After all, isn't that why you invested in a franchise?

Don't forget to take breaks
Putting in more hours on your new business is tempting, but don't overwork yourself. To ensure you get adequate sleep, set a timer for yourself to turn off your electronics. Also, don’t forget to delegate.

So, whether you want to supplement your income or start your franchise career with a part-time commitment, investing in a franchise might be the ideal solution for you.

Are you interested in being a part-time franchise owner? Please schedule a quick call with me.

Should You Diversify or Double Down When Expanding Your Franchise Portfolio?

You may have built one thriving franchise unit, but like many successful business owners, you're considering expanding.

So, where do you go from here?

Just like opening your first unit, expanding your franchise portfolio with more units from the same brand or with a new brand requires thoughtful discussions with your family and franchisor.

Here are some things to think about if multi-unit ownership is good for you:

Use Your Experience To Guide You

Successful franchise owners should look forward to multi-unit ownership confidently because they have mastered business ownership's nuances. In addition, working with a franchisor that has a proven track record of success assures that the move to multi-unit ownership will be smooth.

Look For Incentive Opportunities

Of course, in order to open another location, you'll need financial resources. There are several fees connected with operating a new site, but some franchisors give incentives to existing franchise owners who want to grow their portfolios. This might result in lower royalties, waived fees, and so forth.

The Benefits Outweigh the Risks

The transition from single to multi-unit franchising might be intimidating, but the benefits outweigh the hazards. Having many franchise locations may be a financially profitable and entrepreneurially gratifying venture with a greater likelihood of success.

Given the savings, scale benefits, and a demonstrated likelihood of return, multi-unit ownership frequently returns better ROIs.

If you would like more information about multi-unit franchising and portfolio diversity, please schedule a quick call with me.

This Nationwide Roofing Company Has Your New Franchise Opportunity Covered

Since its launch in 2009, this franchise has quickly become one of the fastest-growing roofing companies. They offer best-in-class roofing repair and replacement with offices across the U.S.

The mission of this franchise is to be an energetic and diverse organization focused on the growth of its employees, utilizing quality craftsmanship and impeccable customer service as the catalysts.

This franchise provides homeowners a broad range of roofing services, including roof inspection, consulting, estimating, production, and project management. Customers and partners can rely on this business model for innovation and long-term sustainability.

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

Customer service-focused
HUGE Multi-Billion Dollar Industry
Nominated as a top-five residential provider in the nation
Multiple revenue streams
World-class franchise sales organization
Utilizing the latest technology
Experienced Franchisor
Highest producing franchise in the nation in its category
Low startup costs, almost half of its competitors
High average ticket costs mean fewer jobs and FASTER profitability
Over 40 locations nationwide

Its industry-leading contributions to the roofing industry include a customer-first mentality, a dedication to top-quality products, and a management team focused on the growth of its people. Through this, they have created a loyal base of customers all over the U.S.

Find out how to join this highly-successful national 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 path to franchise ownership, please schedule a quick call with me.