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  1. 1. Welcome  Welcome  About me  Commercial Lender  Human Resources Professional  Business Owner of Essentials of Human Resources  Founder, Own Your Next Career, LLC.
  2. 2. What we will cover today  What is an Entrepreneur or a Franchise  The Difference between a job, start up business and a Franchise  Success rate of a Franchise  Franchise Myths versus Facts  SBA Approved Franchise List  SBA Failure Rate of Franchises  Why Franchising
  3. 3. Entrepreneurship From Wikipedia, the free encyclopedia:  Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure.
  4. 4. Franchising From Wikipedia, the free encyclopedia:  The practice of the right to use a firm's business model and brand for a prescribed period of time. For the franchiser, the franchise is an alternative to building "chain stores" to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business.  Essentially, and in terms of distribution, the franchisor is a supplier who allows an operator, or a franchisee, to use the supplier's trademark and distribute the supplier's goods. In return, the operator pays the supplier a fee.  Thirty three countries—including the United States and Australia—have laws that explicitly regulate franchising.
  5. 5. Job From Wikipedia, the free encyclopedia: A job is an activity, often regular, and often performed in exchange for payment. A person usually begins a job by becoming an employee, volunteering, or starting a business. The duration of a job may range from an hour (in the case of odd jobs) to a lifetime (in the case of some judges). The activity that requires a person's mental or physical effort is work (as in "a day's work"). If a person is trained for a certain type of job, they may have a profession. The series of jobs a person holds in their life is their career.
  6. 6. What are the differences? Job • Your get annual raise maybe • You get two weeks vacation • Your tax bracket doesn’t allow for certain write-offs • You need permission for personal time off • Your performance is not as valued it is within the “budget” or “profit margin” Your Own Business • You have to do all of it on your own • Balancing life work can be difficult • You enjoy tax advantages • Time off may be difficult • Getting a business loan is difficult Franchise • You have a system that is a successful proven model • You can balance life work and time off • You enjoy tax advantages • You are never alone you have support from the franchise system • Getting a business loan is easier • Regulated State & Federal laws
  7. 7. 0 2 4 6 8 10 12 Job Own Business Franchise Differences Years Tax Advantages Personal Satisfaction Rate
  8. 8. Rich Dad Poor Dad©
  9. 9. Your Own Business versus a Franchise Your business Startup  No brand identity  Advertising needs to determine  Uncontrolled costs to ramp up  Website development, logo, legal, accounting needs to worry about Franchise  Brand image established  Recipe for advertising  Controlled costs to manage  Assistance provided for Website development, logo, legal, accounting needs
  10. 10. Your Business Startup  Site selection and lease negotiation  You don’t get a day in the life  Opening day-then your own your own  Can’t obtain financing for growth or cash flow  Your on your own  Slow start Franchise  Demographic analysis and assistance with site negotiation/lease agreement  Discovery day allows you to experience a day in the life  Grand opening and ongoing support and training  Lenders prefer proven franchise models  The franchisor wants the brand to succeed thus they support your ongoing efforts  Quick start, systematic approach  Risk is Minimized
  11. 11. Franchising Success Rate Franchises have a 90% + success rate. Most people can’t even predict that they can keep their jobs with 90% certainty.
  12. 12. Franchise Ownership Myth or Fact Myth  The royalty will cost you  You can stray from their system  Loans to grow my business is hard to obtain Fact  It is to used to market your brand, ongoing support, training  Business suffers if you detract from their proven methodology  Lenders prefer Franchise lending over entrepreneurial unproven companies
  13. 13. SBA Approved Franchise Funding List
  14. 14. SBA franchisee failure rate (very few fail)
  15. 15. Disadvantages of Franchising?  You need to conform to the standards  Fees  Aligning with a weak franchisor  Reliant on franchisors success  Duration of the agreement
  16. 16. Is Franchising Right for you? “I’m in business for myself, but not by myself”. “I want a ‘bottled’ process for success that I can use in developing my own successful business.” “I have the opportunity to learn from the success and failure of others.” “Why would I work for someone else when I can work for myself and reap the rewards of my efforts?" "Why would I spend years and the investment required to establish a successful brand when I could buy a franchise which provides immediate access to a successful business system and a brand name which others already have made successful?"
  17. 17. Did you know? 1. One in every 12 businesses in the US is a franchise. 2. Franchises account for about 50% of all retail and food sales in the US. 3. Over 90% of franchises are still in business after 7 years while less than 20% of independent businesses are in business after 7 years. 4. Franchise investments range from less than $25,000 to over $1 million, with the national average being about $225,000. 5. Franchising currently represents over 75 different industries. 6. Each year the International Franchise Association polls thousands of franchisees and over 90% asked answer “Yes” to the question, “do you consider your business a success”.
  18. 18. Why franchising makes sense TRAINING & ONGOING SUPPORT Franchising offers aspiring, new business owners the best possible chance of succeeding with the least risk. RISK MINIMIZED GROWTH & OPPORTUNITY BRAND RECOGNITION FRANCHISING IS EXPECTED TO COMPRISE OVER 50% OF THE RETAIL ECONOMY WITHIN A DECADE, ACCORDING THE FRANCHISE ECONOMIC OUTLOOK INDICATORS. A WELL-KNOWN NAME CAN BRING CUSTOMERS INTO THE BUSINESS AND PROVIDE A COMPETITIVE ADVANTAGE FOR THE FRANCHISEE.. PROVIDES TRAINING ON BUSINESS OPERATIONS AND ONGOING MANAGERIAL SUPPORT AND PROBLEM-SOLVING CAPABILITIES FOR FRANCHISEES.
  19. 19. Why franchising makes sense ECONOMIES OF SCALE MOST FRANCHISES WILL ASSIST WITH REAL ESTATE EXPERTS. COOPERATIVE ADVERTISING PROGRAMS Provide local national exposure at an affordable price. PROVEN BUSINESS MODELSITE SELECTION PROVIDES BUSINESS LEVERAGING POWER AND VOLUME PURCHASING SAVINGS. FRANCHISING OFFERS YOU THE ABILITY TO TAKE A GUIDED STEP INTO A PROVEN BUSINESS FOR YOURSELF, BUT NOT BY YOURSELF.
  20. 20. RESEARCH WHAT’S THE COST At no cost to you. Consultants are paid a finders fee by the franchisor. The is outsourced by the franchisee to lower their advertising costs. GUIDES YOU THROUGH THE PROCESS Consultants educates the buyers, analysis your qualifications and fit you to the right company throughout the whole process. PROVIDES A NETWORK OF RESOURCES Having resources available through the process will assist you during the negations. SAVES YOU TIME AND MONEY RESEARCH COMPLIMENTARY CONSULTANT WE TEACH YOU WHAT THE FRANCHISORS ARE LOOKING FOR IN A CANDIDATE, HOW TO INVESTIGATE A FRANCHISE AND WHAT QUESTIONS TO ASK. EXACTLY THE SAME WHETHER YOU WORK WITH A CONSULTANT OR BUY DIRECT. VETTED FRANCHISES, WITH A PROFILE ON EACH ONE.
  21. 21. The Future of Franchising You are in the right place at the right time. • People are disenchanted with corporate jobs, because of the dot.com failures and the corporate scandals. • 20-34 year olds are going into business for themselves three times as frequently as 35-55 year olds, many looking at franchising. • The “Baby Boomers” are retiring from their jobs, but are too young to truly retire. • Women are going into business at twice the rate of men, and many looking at franchising. • Minorities – another fast growing groups are going into franchising.
  22. 22. Introduction to Franchising by the International Franchise Association
  23. 23. Thank You! Questions?

Notas del editor

  • Pappa John
    Huntington Learning Center
    A Place for Mom
    Budget Blinds
    Merry Maids
    Certa Pro Painters
    Serv Clean
  • https://www.sba.gov/content/franchise-registry-approved-brands
    There are over 1700 franchises approved by the SBA Franchise Committee.
  • http://www.bluemaumau.org/sba_franchisee_failure_rates_brand_2012
  • *20-34 year old info comes from “Tips and Traps When Buying a Franchise, by Mary Tomzack page 41
    *Women quote in same book, on page 36, quoted from a Department of Commerce study.
  • https://www.youtube.com/watch?v=uA3koATzTDY&feature=youtu.be
    https://www.youtube.com/v/uA3koATzTDY&feature/youtu.be
    https://youtu.be/uA3koATzTDY

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