and still afford lunch after you buy a franchise!
Meet Mike! Click, watch, then give me call!
Meet Mike! Click, watch, then give me call!
The Franchise story continues about Bill, a franchise and his mother. Previously, Bill, my client had followed all the steps for finding the right franchise for him. He completed the online assessment and completed the questionnaire.
We spent 30 minutes understanding what interests him and what categories of franchises were of interest. Bill and I talked about his skill set, types of businesses he has thought of and his investment range. But, more importantly, we talked about what he really likes to do each day and what motivates him. Without someone asking the right questions, it is hard to really know what motivates each of us. This is where Right Franchising provided value with our experience and focused approach.
Here is what we discovered together:
There was more but you get the idea! It is all about asking the RIGHT questions and a targeted strategic search. My team spent four days searching franchises and business opportunities that fit Bill’s criteria and investment range. We also made sure that the territory was available for each franchise or business opportunity selected.
Now, for the fun part of what Right Franchising does: I presented four good solid franchises that matched Bill’s criteria in every way. This four was narrowed down from hundreds of franchises that either did not fit or were unavailable in Bill’s area. We save our clients time, money and frustration with our targeted strategic focused approach.
We talked about the pluses and minuses of each franchise. We also talked about his vision about how each franchise would work and what his day-to-day would be like. He was excited about two of them because he liked them and wanted his family, particularly his mother, to be a part of the business. They both have respect and regard for each other and felt they could work together comfortably.
So, now, we have four solid franchises that fit Bill’s criteria and investment range. Each is successful and we are ready to evaluate them. So, how do you evaluate a franchise? Look for Part III entitled “Due Diligence”.
If you would like to take my online assessment which helps you learn what types of businesses may fit you, please click on the assessment link.
My franchise story this month starts with my client, Bill. Bill is in the armed services. He has made a career out of the army. No, he doesn’t strap on his field boots and gun every day, but he does wield a sophisticated system that trains hundreds of our men and women for combat.
I started working with Bill when he knew he wanted something more…something that was rock solid. He said the government is great but there are constant restrictions and cutbacks. So, we began our process of finding the right franchise for Bill that would give him that feeling of security and peace of mind.
Part I—The Assessment (10 minutes) which gives fast and accurate information about Bill.
First, Bill and I worked on understanding what interests him. We spent about 30 minutes together and I was able to get to know him better. We talked about his skill set, types of businesses he has thought about and his investment range. But more importantly, we talked about what he really likes to do each day and what motivates him. Bill loved to help people and has great organizational skills. All of these are good transferable skills to a franchise.
Next, Bill took Right Franchising’s online assessment. Ten minutes to find out the following:
1. Should Bill actually own a business?
2. If so, what values should that business have that Bill holds dear?
3. What type of franchises would fit Bill’s skill set and risk-tolerance level?
Once we completed the Assessment, his Interest Inventory and a questionnaire, I went to work. There are 4000 franchises out there and many are good; but some are not. As a certified franchise counselor, I work with franchises day in and day out, and know the ones that are good franchises with excellent return on investment and strong financial performers.
Right Franchising found four good franchises that fit Bill’s criteria and met his investment range. We also made sure the territory was available.
Next week, I will post our results and how Bill chose the right franchise for him and, oh yes, how his mother became an integral part of his business.
To learn more about franchising and if it is the right path for you, please reach out Gayle at 832-864-2687 or Gayle@RightFranchising.com.