Taking Stock of What to Be Thankful For…


Because it’s the week of Thanksgiving, we at FranNet are taking stock of what we have to be thankful for. And we’ll look at it two ways—from your perspective, and ours. If you’re a budding entrepreneur considering the ownership of a franchise of your own, you actually have a lot to be thankful for. And if we’re selected by you to help guide you through that process, we’re more than honored. This is a retrospective worthy of some specifics, so let’s get to it…

If you’re an entrepreneur, here are a few of the things you should be thankful for…

- You’ve been blessed with an ambitious streak. All your life, you haven’t asked “why”, so much as you asked, “why not?” Not everyone has this inner drive and you should be willing to follow it wherever it takes you. Hopefully to our doorstep.

- As an entrepreneur, you should be thankful that you have an inner desire to take the reins of your future. What you want, for you and your family, is the independence to operate your life as you see fit. You aren’t sold on Corporate America’s version of the American Dream. No, you have your own ideas and that’s a wonderful thing.

- As an entrepreneur, you should be ever thankful if you have the true support of your family and friends. No man has an easy path to make this decision and journey alone. You should remain thankful if your family and friends encourage your dreams and are willing to see you succeed.

- As an entrepreneur, you have a passion that isn’t present in everyone else. This passion guides your thinking, your hopes and your dreams. Harness it and you’ll go far.

As the industry’s most respected leader in franchise consulting services, we at FranNet also have a lot to be thankful for…

- We’re thankful that we have over 30 years of experience and over 100 consultants across North America ready to serve you in your quest to become a franchise owner. 

- We’re thankful that we get to work with some of the most creative, innovative, budding entrepreneurs across the country. We take great pride in serving you. From our initial consultation, through the franchise investigative process, the validation, discovery day, meeting the team—right up until you sign on the dotted line, we get to be an integral part of your journey. The satisfaction that this gives us is immeasurable.

- We’re thankful for the franchise concepts that appeal to our clients. With over 3,000 different ones to choose from, we know from experience that the right business just for you really does exist. Helping you narrow down your list and find the exact match is what keeps us coming into work every day.

- We’re thankful that the clients we’ve represented in the past have such good things to say about us. Our testimonial page includes numerous examples of those we’ve assisted over the years. Each one is a satisfying reminder that seeing you succeed is the best measure of our own success. 

We at FranNet hope that you and yours have a tremendous and happy Thanksgiving together with your loved ones. If you get a chance, meditate on what you have to be thankful for, because this holiday is a solemn reminder that we are all fortunate in our own ways.

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Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!


Upcoming FranNet Seminars/Webinars and Expos


The year that is 2017 is quickly winding down. We hope that it has been a successful one for you in all aspects. If your entrepreneurial plans are still in play, we have some good news for you. There are still plenty of FranNet seminars and webinars to attend before we close out the year.

We take pride in offering these person-to-person events across the country, in the hopes that there will be a location near you for ease of attending. If not, keep in mind that you can always check our webinar schedule and join in live or view an archived version.

Here is a rundown of our remaining FranNet seminars and webinars through the end of December for your review. If you see one near you, make plans to pre-register online and join us. Many of our most successful franchisees once took the first step in joining us at one of these events:

Nov 15, 2017 / Richmond, VA
Virginia Franchise Forum 10th Anniversary Celebration

Nov 15, 2017 / Houston, TX
Business Ownership Exploration: Is Franchise Ownership Right for Me?

Nov 15, 2017 / Charlotte, NC
BENG Charlotte; Executive Networking Meeting

Nov 16, 2017 / Tampa, FL Online
November Lunch n Learn - A Fun Concept With Community Values

Nov 20, 2017 / Windsor
Road Map to Entrepreneurship: Build, Buy, or Franchise

Nov 29, 2017 / Omaha, NE
Is Franchising A Good Fit For You? (An Insider's View) 

Dec 04, 2017 / East Hartford, CT
Basics of Franchise Ownership

Dec 07, 2017 / Troy, MI
Franchising as a Career, an Investment, or Both

Dec 12, 2017 / Norwalk
Road Map to Entrepreneurship: Build, Buy, or Franchise

Dec 12, 2017 / Holland, MI
Is Buying a Franchise Right For Me?

Dec 13, 2017 / Katy, TX
Business Ownership Exploration: Is Franchise Ownership Right for Me?

 

Here is a list of our online webinar options:

Nov 15, 2017
Corporate America Flocking to the Franchise Business Model

Nov 30, 2017

The New Business Opportunity for Millennials

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Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!


Franchising for Veterans


This Saturday, Nov. 11, is Veteran’s Day. We thought we’d remind our readers of the real definition of this solemn observance. As defined in the website, History.com, “Veterans Day is a U.S. legal holiday dedicated to American veterans of all wars. In 1918, on the 11th hour of the 11th day of the 11th month, an armistice, or temporary cessation of hostilities, was declared between the Allied nations and Germany in World War I, then known as “the Great War.” Commemorated in many countries as Armistice Day the following year, November 11th became a federal holiday in the United States in 1938. In the aftermath of World War II and the Korean War, Armistice Day became legally known as Veterans Day.”

FranNet has decided to dedicate this blog to the many ways our industry honors our military veterans and offers them a constructive path to entrepreneurship. And there’s no better place to start than VetFran. VetFran is a strategic initiative of our very own International Franchise Association (IFA). Its aims are to promote franchise ownership among former U.S. service members and their families through various programs. 

Provided on the VetFran website, here are some uplifting facts which define the programs that VetFran has introduced, going back to its founding in 1991:

- One out of seven franchise businesses are owned and operated by veterans of the U.S. military

- According to a study conducted by the International Franchise Association Educational Foundation based on U.S. Census data, there are currently more than 66,000 veteran-owned franchise businesses

- These veteran-owned franchises provide direct jobs for approximately 815,000 Americans

- These jobs and revenue generate more than $41 billion in gross domestic product (GDP)

Regarding these facts, is it any wonder that former military members make good franchise owners? The reason shouldn’t be the least bit surprising. We all know that franchising is dependent upon a proven system, which must be replicated, followed and executed precisely for success. Sound like anything military related to you? Add in team leadership and the ability to issue and follow orders and you have the recipe for a strong franchise operation.

If you or your immediate family is a U.S. veteran, you need to be aware that there are special funding and finance programs in place designed to benefit you. According to VetJobs.com, “The Patriot Express Pilot Loan Initiative was announced in 2007 as, “…a streamlined loan product based on Small Business Association’s highly successful SBA Express Program, but with enhanced guarantee and interest rate characteristics. This SBA guaranteed loan program is for military veterans or those currently in the military who are close to retirement (check the SBA website at www.sba.gov for eligibility requirements) or their spouses. The SBA will guarantee up to 85 percent of the loan (for loans up to $150,000), meaning the lender only is at risk for 15 percent, which makes these loans much more attractive to the lender. Best of all, the credit score requirements for Patriot Express loans are significantly lower than what we otherwise see in the current market so these loans are easier to qualify for.”

If you are a military veteran and you’ve been thinking about branching out into an entrepreneurship opportunity of your own, we urge you to make an appointment with a certified and qualified FranNet representative today. And if you need a little bit of extra motivation, please read about these eight special veterans who went from active duty to business ownership. Hopefully, their stories will inspire your own journey.

Happy Veteran’s Day. FranNet salutes all active and previous U.S. service members.

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Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!


Critical Questions to Ask a Franchisor


At FranNet, we pride ourselves on making sure that our clients are as prepared as possible when it comes time to connect with representatives from the franchise brands we work with. Most of the folks who come see us have conducted a diligent effort to educate themselves on the ins and outs of franchising in general, with a specific focus on the investigative process. But that doesn’t mean they’ve crossed every T and dotted every I. That’s where we come in. In an effort to make sure you’re as prepared as possible for the validation process, we offer this helpful guide of critical questions to ask a franchisor:

For the purpose of this exercise, we’re going to assume you already know the basics for your first Q&A. But here are a few lines of questioning you may not have considered:

Are you offering any current promotions on deals to close a new franchise owner?

If you don’t ask, you’ll never find out. It works the same if you call a local pizza delivery chain. If you tell them you want a large pizza with pepperoni and sausage, they’ll be happy to deliver it for the advertised price. But if you ask if they have any available deals on your order, you may find out that—yes—as a matter of fact, they are running a special right now on large pizzas. It’s buy one, get one free. Now you have two pizzas. That’s not to say you can end up with a multi-pack franchising deal, but it never hurts to inquire as to what sales incentives they’re currently willing to offer.

Who will be my day-to-day contact?

This is more important than most franchisees think. And the franchisor you’re negotiating with should be able to provide a clear answer. Don’t just assume that a franchise brand will put together a revolving team of customer service reps to answer your questions and provide support. A franchisor dedicated to your success as a new owner should be able to state, “Your day to day contact is Steve Davis. Steve’s been a part of this organization for 12 years and has helped dozens of our franchisees establish themselves.” Be sure to ask for Steve’s cell phone number. Just in case.

What is the long-range market demand for this franchise?

When you’re getting close to signing on the dotted line to operate a franchise of your own, you often can’t see past the horizon of your own six-month business plan. But you owe it to yourself to research market trends for the demand of whatever specific good or service this franchise will be providing. Are they in a burgeoning industry? Will the competition eventually overtake them over with a better mousetrap? The corporate team of the franchisor lives and breathes the business day in and day out. Ask for their market industry research showing that your franchise will be just as viable down the road as it is the day you buy it.

Will I have the opportunity for an expanded role?

If you’re content to buy a franchise, run it and make payroll without fail, so be it. But many franchisees want to know what their growth arc will look like in the future. If you’re consistently successful, will you have the opportunity to sit on a franchisee committee someday? Will you have ample opportunity to rep the brand outside of your market? Is there a leadership council? A rules committee? If you’re buying into this franchise concept lock stock and barrel, find out how far they’re willing to let you rise among the ranks of other franchise owners. 

We hope this content has re-energized your current efforts to become an entrepreneur. The tough questions are out there. You just have to be bold enough to ask them.

Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!


Quitting Your Day Job, a Story of When Enough Became Enough


 

“Take this job and shove it,

I ain’t workin’ here no more,

My woman done left and took all of the reasons,

I was workin’ for.

Better not try to get in my way,

Cause I’m walkin’ out the door,

Take this job and shove it,

I ain’t workin’ here no more…”

Country music legend Johnny Paycheck gets the credit for this memorable refrain from a time-honored song, “Take This Job and Shove It”, about quitting your job. And, as it’s rightfully assumed, many a current franchisee got to this crossroad decision at some point in their illustrious Corporate America careers. What gets a current job holder to the breaking point? During this edition of FranNet’s blog, we’re going to relay a story in which enough became enough.

Before we begin, we’d be remiss if we didn’t state that not all franchising opportunities require you to quit your job. In fact, the semi-absentee franchise model is built upon the preconception that you will keep your day job, hiring a manager to look after your new business venture. But for many out there toiling away, dreaming of a better tomorrow in which they finally take control of their own destiny, we offer you this tale… 

Meet Reuben Rock. He quit a six-figure salary job to become the new owner of a carpet cleaning franchise. And he didn’t know the first thing about cleaning carpets. What he did know was that he had long harbored feelings of internal resentment for his 20 years of “…building up someone else’s dream.” Sure, he got paid for his efforts, but the output had no lasting meaning or legacy for him and his burgeoning family.

His reasoning for taking the proverbial entrepreneurial plunge in life will sound quite familiar to those interested in franchising. His key question for others is this: “Do you want to live your whole life wondering what might have happened if you started that business instead of chasing a 3% raise?” He follows that up with another quote of wisdom: “The longer you stay in a job giving 50% of your effort just to keep the checks rolling in, the longer you put off giving 100% of your effort to creating something of your own.” Starting to sound familiar?

Here’s something else. Unlike Johnny Paycheck, he didn’t just walk out the door after telling his boss to shove it. He carefully planned for his future in franchising. He saved the requisite amount of money which he put aside to ensure a smooth transition. He talked about the lifestyle change with his significant other. He knew there was the possibility of failure. But he wasn’t about to let it happen because of a lack of effort on his part. These are the same ideals we preach during our consultations.

Rock’s new life as a franchisee has been a successful one to date. He followed his dream of building a future of his own for himself and his family. It’s the true franchise success story.

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Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!


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