Franchise

Why Is Franchise Discovery Day Important?

A well-planned franchise Discovery Day benefits both franchisors and franchisees. It should be educational, intriguing, and exciting.

A franchise discovery day is an essential aspect of learning about new business opportunities. And, if investors are going to spend their time, money, and effort in a business, it is critical that both they and their franchisor get the most out of the event.

Prospective investors can learn more about a franchise opportunity during Discovery Day, and franchisors can meet potential franchisees. For years, franchisors have viewed Discovery Day as an essential component of the process since it plays a significant role in brand growth.

Discovery day is like a final interview with a company. You’ve done a lot of research, you like what you’ve heard, and now it’s time to get a feel for the people. Do I trust them? Are they competent? Do I want to be partners with this franchise?

I call discovery day the “gut feeling day.” I know that sounds a little strange, but you wouldn’t be going out there if you didn’t believe that this is a good company. You’ve heard that the model works, the franchisees are happy, and you’ve validated strong earnings. Now it’s time to let your instincts or gut take over.

So, how do you confirm this franchise is a perfect match for you?

Prepare a list of questions you’d like covered at Discovery Day. Where do you need information? Do you have outstanding concerns? Do you have questions about their CEO/President or what makes a top-performing franchisee?

Read the franchisee agreement to get comfortable and have any last questions answered.

Dress to impress. Think of this again as a final interview. You want to bring your “A” game! Business casual is typical, be comfortable.

So, if you have a concern, please bring it up. Just start with a positive statement about the company.

If you raise your hand and say, “I have a concern about marketing.” That might not sound incredibly positive.

If you raise your hand and say, “You have such a great culture of franchisees, and everyone has been so helpful so far! I still have concerns about marketing. Can we talk about that?”

It’s the same question, with completely different approaches.

At the end of Discovery Day, most franchisors will meet with their approval team and have a decision for you within a couple of days. And most franchisors will require a decision from you soon after Discovery Day.

So, most importantly, relax, be yourself, and have a great time!

When you leave, you will know the answer if this is the right company for you. If you have done your research and you let your gut instincts take over on Discovery Day, you will know when you leave that day if this is the franchise for you.

Find out more about Discovery Day by scheduling a quick call with me.

Did You Know Many Women Find Franchise Ownership a Great Fit?

The stigma has been - Life in the corporate world is difficult. The hours are long, and traveling is stressful. However, these challenges become inspiration and dreams for entrepreneurship and balancing work and family life.

Franchises, like any other business, are quite demanding. However, they have appealing advantages since franchises have allowed women to make decisions that will improve several aspects of their careers and personal lives.

Women Seek Flexibility

One of the most desired benefits to a franchisee is a flexible work schedule. Building equity and cash flow while controlling the hours they work.

A franchisee may be able to work part-time on the business while a manager oversees day-to-day operations. In addition, franchise flexibility attracts women with families because work, kids, and everyday tasks meld together more easily.

There Are No Limitations To A Woman Franchisee’s Success

A franchise does not limit opportunities. Instead, the opportunity is greater because it’s based on your talent and effort. You are not someone’s employee. Instead, you are in control of your destiny.

Training And Business Support Are Keys To The Franchise Model

Anyone considering franchising should consider the training, assistance, and business expertise they will receive from the franchise. Remember that the franchisor wants you to succeed and has a vested interest.

You will begin on your franchise journey with supportive business partners, whether you are a woman or not. It has been shown that women can be more collaborative, and having a support group means you are not alone.

Women may choose franchising for many of the same reasons that men do. But, with so many benefits that cater to women's particular qualities make franchising an excellent choice.

If you’re ready to become a successful business owner, please schedule a quick call with me.

What Franchise Financing Options Are Available To Veterans?

You are not alone if you are a veteran considering purchasing a franchise. Veterans own thousands of franchises, and the U.S. Department of Veterans Affairs supports franchise ownership as an option for former military service members and officers interested in starting their own businesses.

The VetFran Program of the International Franchise Association (IFA)

Participating franchisors in the IFA's VetFran program provide discounts and other financial incentives to veterans who have been honorably discharged from the United States military services.

The VetFran program now has over 600 franchisors participating. The IFA assigns up to five stars to participating franchisors, with higher ratings reflecting the IFA's assessment of the franchisor's dedication to VetFran values.

Of course, in addition to studying these evaluations, veterans interested in VetFran franchise possibilities should conduct their own complete research.

Small Business Administration (SBA) Veteran Funding

This loan is a common way to finance a franchise. The SBA Loan was designed to lower the risk for the lenders via a guarantee on the principal. The SBA Loan was a program of the U.S. government to assist with risk. If there is real estate involved, a part of the loan is directly funded by the government.

Patriot Express Loans

The SBA recently began offering Patriot Express loans to military families who want to start or grow a small business. If you are a veteran, an active-duty servicemember under the Transition Assistance Program, a service-disabled veteran, a reservist, a National Guard member, or the spouse of those listed above, you can apply for the Patriot Express Loan.

Additional funding options

Cash
Conventional Loans
Franchisor Leasing
Retirement Plans
Direct Franchisor Financing

If you have questions about buying a franchise or would like more information about veteran benefit programs in franchising, please schedule a quick call with me.

The Power of Using Facts To Manage Fear

Fear of failing is the most common concern I encounter among franchise prospects. Fear of failing can paralyze us and flood our imaginations with worst-case scenarios. These irrational concerns impede our capacity to progress and become the finest versions of ourselves.

The difference between emotion and logic is stark and profound. The majority of our decisions are emotional, and we use logic to justify them. Focusing on facts rather than emotions is a more efficient way to make decisions. In the long term, judgments based on facts will be more successful.

Focusing on yourself can also help you overcome your fear of failing. You might hear stories of people who became enormously successful or lost everything in franchising.

Facts are important. Stories are not. What is important is that you may locate a franchise that suits your abilities, talents, motivations, and ambitions.

In the end, anxiety never totally disappears, and great franchisees use it as a motivator.

Recognize your fears and feelings and keep moving ahead. Fear is the polar opposite of belief, and it manifests itself when you lack faith in yourself, the process, or the notion. So recognize the uncertainties and proceed regardless.

Don't hunt for an excuse to say no. It is uncommon to be completely confident about anything in life, so don't use that as an excuse. Life success is built on taking fair and planned risks.

So embrace your fear, do your research, believe in yourself, and chase your dreams!

If you are ready to explore your path in franchising, please schedule a call here.

Franchising Myth: Is Fast Food the Only Type of Franchise?

For decades, we have all been familiar with fast-food chains, like burger spots, pizza places, sub shops, and other eateries. But, for those unfamiliar with franchising, the term franchise has become synonymous with the drive-thru window.

However, the possibilities extend far beyond fast food for people wishing to become their own boss by investing in a franchise. There are over 3,000 unique franchise opportunities, and most of them may not be what you expect when you think about franchising.

I would like to present you with a few possibilities that may start your wheels turning.

Business Services

Do you want to own a franchise that helps other businesses thrive? Then you're in luck since there are several franchise possibilities available in this field.

You could operate an advertising franchise and help businesses promote their brands. Perhaps you are interested in computer repair, and company owners might contact you to get their systems back online. Other franchises can assist businesses in cutting costs, and others that can assist them with their taxes.

Child Education

Are you interested in helping children succeed in school? Then consider a franchise that specializes in children's education and tutoring. In addition, there are numerous activity-based sports, preschool, and childcare franchises available.

Health and Fitness and Personal Care

The health sector has always been massive, as seen by the numerous franchises in this field.

Boutique fitness franchises offer opportunities to help people with weight loss, physical fitness, and diet improvement.

You might also consider personal care franchises, like tanning salons, beauty salons, hair care, and other areas that help people feel great.

Care for the Elderly

Seniors deserve the finest care possible. Fortunately, fantastic franchise opportunities provide healthcare and medical services to seniors. These solutions offer much-needed services to the elderly, and you will feel amazing knowing that you were able to assist them.

Home-Based Franchises

Would you rather work from home than open a physical location? Then there are numerous opportunities to consider. Here are a few.

Financial and investment advisors
Personal and business counseling
Photography
Home inspections
Pest treatment

These are only a handful of the franchise categories available, but you can see that there is much more to the world of franchise ownership than fast food.

If you want to start narrowing the choices down and find your dream franchise opportunity, please schedule a call here.

What Motivates You?

Are you at a crossroads in your life or career? Perhaps you discovered this after another boring and lengthy ride home from work, or perhaps you discovered it when you missed another of your child's soccer games due to a late business meeting.

Did you come to a fork in the road this morning, look in the mirror, and ask yourself, "Do I have to go to work today?"

Have you experienced downsizing, demotion, or restructuring at work? You've been pushed out of your position and are left wondering, "What now?"

Franchise ownership could be a perfect fit for you.

What benefits have other like-minded and determined people reaped from becoming franchise owners?

You are now in charge of your future.
You’re getting paid what you’re worth and for what you produce.
It fulfilled a lifetime ambition of yours to own a business.
The timing was perfect.
Family, flexibility, freedom, and happiness are all vital to you.
Long commutes, dull meetings, and business travel were killing you.
You’re motivated.

If you’re at a crossroads and desire the benefits of being your own boss, franchising might be a perfect fit.

Please schedule a call here so we can discuss your motivation.