Did Your Journey Start Here?
Many of us recall childhoods peppered with Sunday nights overcome with dread. As pangs of anxiety would set in as the weekend wound down, we lamented the inevitable start of another pressure-filled week of school. Sadly, the same doom and gloom plagues adults who are miserable at work. Are you still all too familiar with the Sunday night blues because you’re unhappy in your current job?
It might sound difficult to believe, but some start each week - even each day - actually looking forward to going to work! Let’s face it, though, and admit that this isn’t the reality for most of us. It’s not uncommon for our spouse, family members or friends to complain to us about what they’re lacking at work, whether it’s fulfillment, money, free time or opportunities to advance.
What many unsatisfied employees dream about is becoming their own bosses, which means starting their own businesses.
Let’s face it, Corporate America doesn’t provide the stability it once did nor offer the longevity it used to.
Further exacerbating the situation was the onset of the pandemic in 2019, which enabled many people to work from home for the first time and allowed them to realize they didn’t want to return to their workplaces. It gave people a wake-up call to make choices that aligned with their family values and future aspirations.
Starting your own business sounds like a great plan - until reality sets in and hard questions abound. How do I get started when I have never owned a business before? What kind of business should I open? How much money will I need? How can I ensure it will be a success when businesses fail all the time? Such daunting questions lead to negative self-talk.
What was an exciting dream just moments earlier suddenly transforms into an idea so intimidating that it can paralyze aspiring entrepreneurs from moving forward.
The next thing they know, it’s Sunday night again, and they’re stuck in the same old cycle.
The good news, however, is that career bliss can be yours - if you know how to find it.
Don’t Travel Solo
It’s understandable to be intimidated by all the details involved in launching a new business. After all, no one person can be an expert in all aspects of accounting, marketing, business development, team building, client relations, employee management and technology (just to name a few areas that running a business encompasses). That’s not even touching on the industry-specific knowledge needed, depending on what type of business you decide to open.
The good news is that you don’t have to do any of it alone. Through franchising, you don’t need to be an expert in all - or even any - of these areas. By investing in an existing brand with a proven business model, you’re not starting from scratch like an independent business owner would be.
Perhaps one mantra touted by the International Franchise Association (IFA) puts it best: “Owning a franchise allows you to go into business for yourself but not by yourself.”
From the start-up phase of your business to ongoing training and support, the franchisor provides the assistance needed to make your business a success. What’s more, the franchisor wants you to succeed, since your success is also their success.
Consider just a few of the benefits of franchising according to the IFA:
- The brand may already enjoy widespread brand-name recognition.
- There may already be a pre-sold customer base, which ordinarily takes years to establish.
- Supplies may be purchased at a significant discount due to contracts and volume purchases.
- The brand may have proprietary technology that franchisees can use.
- The products and methods are already proven, which makes the chances of business success greater.
- Quality and consistency are held to high standards mandated by a franchise agreement.
Keep an Open Mind
While the words “franchise” or “franchising” may conjure images of popular fast food or convenience store chains, they are just the proverbial tip of the iceberg. Franchise business options span approximately 80 categories and include most professions and industries. From healthcare to financial services to education to pet grooming, there’s something for every professional work style and interest.
The initial investment required can also vary, ranging from $25,000 to several million dollars. Some companies are better suited for a hands-on owner-operator, while other business models are perfect for executive management and still others offer investors an absentee ownership model with residual income. Whether you want to own a brick-and-mortar location or roll out of bed into a home office, there is something for every professional personality.
Working with a Franchise Consultant like me, can expose you to brands you wouldn’t have normally considered. For example, someone who doesn’t consider himself handy may never think to look at a business in the home improvement sector. However, many franchises don’t require any experience or background in that area in order to become a successful franchise owner. That’s because, in many cases, employees perform the manual labor while the franchise owner focuses on building and managing a successful team as well as developing a new business.
Find an Expert Guide
Perhaps you don’t even know what your professional strengths, preferences and limitations are yet. That’s fine, too. Either way, it’s not advisable to tackle the research of hundreds of business opportunities on your own. (That’s why you won’t find a “how-to” manual for accomplishing such a feat in this blog.) Instead, work together with me as I am uniquely qualified to help you!
I am a Certified Franchise Consultant (CFC) – a professional who assess the needs of entrepreneurial candidates like you, researches opportunities that connect best with your specific characteristics and presents a list of qualified brands for consideration. What’s great about utilizing the expertise of a CFC is that it costs you absolutely nothing. When you become a franchise owner, I am paid by the franchisors. There is absolutely no cost to you in obtaining a franchise business while working with me. It’s truly a win-win situation on every level.
I am also a Certified Professional Coach (CPC) in addition to being a CFC. By trade, I’m a great listener. I take into consideration your particular needs, goals and aspirations. As I business owner myself for over 35 years, I understand that you’re going to be in a state of transition, and that owning a franchise for the first time is a big step. I get it!
By spending so much time working together, I often get to know my clients/candidates extremely well. It’s not uncommon for me to introduce a candidate to a brand they wouldn’t have normally considered.
The best advice -- Keep an open mind. A brand you may think is perfect for you might not be the right business model after all.
So how I help my candidates? How, in particular, do I help YOU? It’s a multi-step process where I engage in numerous conversations with you to learn what your true passions are. I delve deeply into your likes and dislikes. For example, do you want to have a big staff, or would you prefer to be a one-person show? Are flexible hours important, or is a set schedule part of your future picture? Do you dream of manning a storefront, or is being on the road and going to the customer more appealing?
We work together to figure out what excites you, what motivates you. Then, I help you zero in on a few brands that are ideally suited to you. Even after you make a final decision and choose the right business opportunity, my role is hardly over. I can help you find financing and serve as a coach through the due diligence process. Most importantly, I help facilitate a relationship between you and the franchisor. While the decisions to choose and own a franchise are ultimately yours alone, the information I provide can be of enormous educational value.
There is a lot of hand-holding (not my favorite term, but you get the point) that I provide throughout the due diligence process. Fears come up. It’s natural. But moving forward despite fears that come up is what makes the difference. I’ll help you through it.
Give me a call or send me an email or text, and we’ll talk about it.
paul@thefranchiseconsultingagency.com / 410.844.2774 (call or text)
6/14/2022