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 If not, keep in mind that you can always check our webinar schedule and join in live or view an archived version.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!


How to Pull Off Seasonal Promotions


Yesterday was Halloween, the spookiest day of the year for young trick or treaters. Quick quiz—did you happen to run any type of promotion for your customers to play off of this holiday? No “Spooktacular” deals offered? Nothing that your customers might have enjoyed in keeping with the season? During this edition of FranNet’s blog, we’re going to be talking about how to pull off seasonal promotions. And, well, if you did miss out on Halloween, Veteran’s Day and Thanksgiving are just around the corner. Best get to planning things now.

Full disclosure, first. Before you go off and set up the most amazing deal for military families to take advantage of on Saturday, Nov. 11, you’ll need to pump your brakes beforehand. Many franchises may not allow any independent promotion outside the guidelines of your shared franchise agreement. Creating your own special deal or offering something outside of the framework of this agreement could land you in some pretty hot water.

There are also many other franchise brand operations who do allow for local and seasonal promotions—provided that the themes and deals are all pre-approved well beforehand.

Lastly, some franchises give you carte blanche to create and promote whatever you’d like—within reason, of course. The point we’re trying to make is that you’ll need to know ahead of time in which of the three categories your franchise brand falls. Never do anything that would put your own franchise operation at risk for violation of a clearly stated policy. Ask!

Seasonal promotions are self-defining. Ostensibly, you as a business owner, must choose a particular seasonal event or holiday and build a themed promotion around it to attract sales and assist in lead generation. The choices are endless. There are four seasons, but multiple holidays to choose from. There’s even event calendar and awareness days. Don’t know what that is? Here’s an example. We all know today is Halloween. But did you know that it’s also National Doorbell Day? Just think of the promotional offer you could come up with if you owned a Mr. Handyman franchise. For a full list of possibilities, it is our pleasure to direct you to the Official National Day Calendar. Trust us when we say, there is something in here for everybody and every business. You will find a match.

When it comes to promoting something on a seasonal or calendar basis, be sure to keep it simple. People instinctively know that these type of promotions can be a bit corny by nature. It’s the offer that counts. A discount or free samples are the most common examples for whatever your franchised business sells or services. What the promotion does is give you another tool in your marketing mix to attract customers around a commonly understood theme. The idea is to have a little fun with it.

Before you even begin to offer a promotion, have a system in place to track the responses you get. You’ll need to know if this particular promotion is something to replicate in the future, or to trash and start over. See if there was a bump in sales, additional customers, positive feedback. Ask your customers if they appreciated the little extra effort to run your seasonal promotion.

Anything that can help drive sales and assist your bottom line is worth giving a shot. They don’t call it the “Old College Try” for nothing. If you find something along the way that works or was particularly effective in raising your customer’s interest, drop us a line and let us know how you did it. We’d love to hear about it…

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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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