Franchise

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.

How Do You Select A Franchise Consultant?

From retail outlets to employment services, nearly every industry has a successful business model offered as a franchise. Finding the ideal position for you relies heavily on your prior experience and desire.

According to Business News Daily's analysis of top franchising opportunities, there are ten industries where franchise business is thriving:

1. Children's development. Parents want the best for their children, and educational franchises like Kumon, The Goddard School, and The Little Gym are assisting the next generation in learning and growing.

2. Hair salons. Haircare for men, women, and children is a service that is always in high demand. Franchisees may stand out with a known brand name at companies like Supercuts, Sport Clips, and Great Clips, while kids-only ideas like Snip-its allow owners to limit their target demographic.

3. Fitness. While huge gyms like Crunch and Retro Fitness are still going strong, choosing a niche that isn't being served in your community, such as kickboxing or Pilates, might help you stand out.

4. Paint-and-sip studios. Painting with a Twist, Pinot's Palette, Paint Nite, and Wine & Design are just a few of the firms offering this fun concept, which allows participants to drink a glass of wine while taking a group painting session.

5. Pizza This is a franchise classic, with competitors always coming up with new and inventive methods to assemble a pie or slice. Domino's, Pizza Hut, and Papa John's continue to dominate the market, while concept franchises such as Kono Pizza and Project Pie provide a unique spin on this traditional dish.

6. Frozen yogurt. The froyo frenzy is still going strong, with chains like Menchie's, Yogurtland, Pinkberry, and Red Mango expanding.

7. Property management. Since 2008, the number of rental properties – and the organizations required to manage them, such as Real Property Management and Property Management Pros – has increased, resulting in growth and opportunity for those trying to meet that demand.

8. Senior care. As an increasing number of aging baby boomers require in-home or institutional care, this area is developing to include services such as advocacy and placement. Caring Senior Service and BrightStar Care are two franchise choices.

9. Spa and beauty services. Massage Envy, Hand and Stone, and European Wax Center are examples of franchises in the booming self-care business. You can provide specialty treatments such as waxing or massages or open a full-service salon with add-on services such as facials and threading.

10. Vending machines. Vending machines have been popular for decades, but the popularity of these models, along with the range of possible product choices, has made franchising a feasible option in recent years, with firms such as Fresh Healthy Vending and Healthier 4U Vending providing franchise opportunities.

Are you ready to learn more franchises? Schedule a call here.

Current Franchising Trends I’m Watching

According to Business News Daily's analysis of top franchising opportunities, there are ten industries where franchise business is thriving:

3. Fitness. While huge gyms like Crunch and Retro Fitness are still going strong, choosing a niche that isn't being served in your community, such as kickboxing or Pilates, might help you stand out.

6. Frozen yogurt. The froyo frenzy is still going strong, with chains like Menchie's, Yogurtland, Pinkberry, and Red Mango expanding.

Are you ready to learn more franchises? Schedule a call here.

10 Things to Think About When Choosing a Franchise

Too many options can be overwhelming. Thousands of franchise opportunities are available for individuals interested in becoming franchise owners. I understand selecting the best franchise for you might be a difficult undertaking. You desire a business opportunity that meets your own needs while also providing a solid plan for profit and success. Before deciding on a franchise, take the time to analyze these 10 crucial signals that the organization is the correct match for you.

1. A track record of successful sales. The advantage of investing in a franchise is that you are capitalizing on a successful business. Therefore, a franchise that can demonstrate proven sales performance with its existing franchisees is a positive indicator.

2. The market is expanding. You want to enter a business or industry that is expanding rather than contracting. For instance, this is not the time to start a DVD rental business. Other industries, on the other hand, are thriving.

3. Competition. The absence of competition is one of the indicators that a franchise is a good investment. While there is a coffee shop on every corner, many communities still want more products or services.

4. Repeat customers. You want a franchise that will offer you recurring business and allow you to expand your business.

5. Your top priorities. If you value health and wellness, your business should reflect those ideals. So go for a franchise that encourages health.

6. Upsell opportunities. Another positive indicator is a franchise that provides a wide range of products and services, providing you with several income sources.

7. A successful business model. You want a franchise with a profitable business plan.

8. Personal interest. If you are enthusiastic about the product or service offered by the franchise, this is a strong indicator that it is a good fit for you.

9. New customer incentives. Investigate the incentives that a franchise provides to attract a consistent supply of new consumers and money. You want a business model that is always looking for new ways to expand your consumer base.

10. Variety. One-trick ponies are doomed to fail. However, a franchise continually seeking new methods to diversify its products and services is a solid indication that it is worth investing in.

Franchising is a very rewarding investment, and if you take these signs into account, you will have a great chance of success.