Franchising

In this week’s blog edition, we’re going to tackle the issue of using a franchise or small business to diversify your portfolio of investments. As you’ll see, there are several advantages for doing so, the least of which is the creation of a figurative safety net. This safety net is designed to do two things:

• To prevent the depletion of wealth in the event of a severe downturn in the economy—something we all became familiar with beginning in 2008.
• To provide a fall-back source of income should your current job or position be eliminated.

While signs of recovery continue to aggregate, arming yourself with additional information will be a helpful exercise in diversification.

As an investor, if you have a healthy portfolio, you are always looking for ways to diversify your holdings. Owning a small business or franchise opportunity can be a smart addition which gives you the option to stay engaged in the semi-absentee model of operations while keeping your day job, so to speak. As we have covered before, the semi-absentee model allows you to run the business from afar, typically with a smooth “manage the manager” philosophy.  (more…)

Several economists and financial sources cite that, while things have steadily (albeit slowly) improved, America may be in the midst of a “new normal” in terms of its level of improvement. Suffice to say, very few businesses in corporate America have been able to escape the cycle of downsizing and outsourcing.

Executives previously locked into so-called “safe” environments have found themselves alongside the bevy of recent college graduates—all scouring limited job opportunities rife with qualified candidates. In the most conservative estimate, it is proffered that—at a minimum—there are three candidates for every corporate job opening today. Facts and figures such as these have led to a sea-change in attitude. From those willing to initiate an investigation of small business ownership to the full-on “I can’t take it anymore!” crowd, it seems as if alternatives to working for others have truly been replaced by the attraction of working for themselves.

Of all considerations poured into the discovery and investigation of small business or franchise ownership, what is one of the biggest misconceptions? Money. Specifically, the amount necessary to invest in a worthwhile opportunity that leads to financial independence. Ask most potential prospects and franchise candidates about the capital necessary to invest in their future and you’ll likely hear an astronomical figure that has no real basis in fact.  (more…)

It’s just another way of describing what FranNet, the international network of franchise consultants, does for its clients (at no cost!): Introduce entrepreneurs to the small businesses of their dreams.

What do all the online dating service commercials say?

We use our special 46-point formula to determine the precise mesh points for you and the romantic partner you’ve been waiting for along a 13-axis spectrum of compatibility. Or something like that.

Sometimes it works, sometimes not. But what if you took the same basic idea, simplified it and applied it to the world of franchising?

It’s a big pool. Thousands of franchise opportunities are open every day, in fields that go way beyond traditional restaurant franchising: tutoring, auto service, technology management.  (more…)

Uh, what??  At first glance, the title of this week’s blog might seem like a strange thing for FranNet to advocate. But there’s a deeper meaning in this attention-getting headline that includes lessons we want all of our potential clients to be aware of before investigating a franchise opportunity. Not everyone is cut out to own or run a business. Let’s explain what exactly we mean by this….

Everyone is familiar with the American Dream concept. It holds that if you work hard enough, have your success, and pay your dues, you can achieve anything that you put your mind to. This we understand. We understand that people from all walks of life have dreams of starting their own business and being their own boss. But the simple reality is that not everyone can make the grade. And our consultation process is specifically designed to indicate the difference.

We don’t want to see failures. Which is why at FranNet, we don’t just agree that you’re fully prepared to run out and start a business of your own without extremely careful consideration. It does us no good if this first path is chosen, only to close up shop shortly thereafter. That’s a lot of wasted time, effort and most importantly—money. The better path is to begin on a journey of extreme self-discovery through due diligence. Simply put, if you want to own a business and be successful, you’re going to have to help us do a lot of homework with you.  (more…)

This week’s blog is going to delve into territory reserved for existing franchisees who desire a continuing education for the small business owner. We feel it is also important to maintain and nurture your franchise after you’ve set up a successful business. There are many types of entrepreneurs who would deem themselves fit to run a business. But there is also a good portion of owners who feel they could be doing a better job.

That’s where continuing education for small business owners enters the picture. Several professions, such as careers in medicine, law and accounting, actually require continuing education classes—some of which are on an annual basis. It’s simply a way of maintaining a sharp acumen to your particular skill set.

Seminars are a popular choice because of the varied information presented, as well as the networking possibilities. An excellent resource website for finding applicable small business seminars and workshops can be found on the U.S. Small Business Administration Events Page. Here, you have the ability to refine a search by subject and zip code, so that you can find something that appeals to your franchise, and close by.  (more…)