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Today Is Your Last Day…

Last Day (Today) graphic

Would You Be Prepared to Hear That Today?

It was a bright sunny day when I told the manager that today was his last day. He did something I wasn’t expecting. He bolted from the room and started running through the warehouse!

I ran after him in my heels. You see, I was the Human Resources Director that told him, “Today is your last day.” I chased him to his car where he was slamming the car door over and over again. I approached him cautiously. I said, “You don’t understand, we have a severance package for you.”

He said, “You don’t understand, we just bought a new house and we have a baby on the way!”

That is when it happened! I knew I had to find an alternative to the J.O.B. There had to be something else where people are more in control of what happens to them. And, I wanted to be in control of my life, and my income.

(c) Can Stock Photo (Franchise) TodayI found franchising. I begin to get excited when I read the following:

  • Retirement Fund Contributions (Pre-taxed Dollars):
    • Employees are capped at $18,000 annually
    • Business Owners may contribute up to $50,000 annually

Source: Bureau of Labor Statistics Study of the American Worker

So, if you could gain control of your life today as well as put aside up to $50,000 annually, why wouldn’t franchising be an option? I believe it is!

Owning a franchise is the best assurance you can get that you will never hear these words, “Today is your last day.” Please call me at 877-307-1458 today for a free consultation to learn more about franchising and if it is right for you.

Here is a free gift to you. Take our free assessment below and see if a business is right for you – today.

FREE Business Assessment

Gayle Sutton
Certified Franchise Consultant 877-307-1458 or Gayle@RightFranchising.com
Right Franchising.com

Franchises: How to Buy One…

…And Still Afford Lunch (not just at a Franchise)

Most people drive down the street and see McDonald’s, Burger King and Chik-fil-A.  They believe that is the extent of a franchise.  So, let’s look at some facts.  Below is a good statistic provided by the International Franchise Association that shows the financial cost of a franchise and the percentages of franchises found in each financial segmentation.

Cost of Franchise Businesses graphic

 

Notice that 52% are under $100,000.  This figure would include everything you need to open the franchise, and often includes three months of working capital.  With a 690 or better credit score, you would put down $20,000 or $30,000, and the remainder would be funded with an SBA loan or other funding sources.

Also, notice that only 5.6% are over $500,000.  A McDonald’s franchise costs around $1.8 million for example. Of those 5.6% of franchises, they fall in many categories; restaurants are more likely going to be at the higher-end cost. There are great franchises for $500,000, and great franchises for $75,000 or less. I’ll help you choose the one that fits your needs best.

So, then you may be wondering, “If I invest more money, will I get a better return or a higher profit margin?”  It has been my experience as a certified franchise consultant that there is NO automatic correlation between the cost of the business and the PROFT it can earn.

Surprising? Yes!  But when you want to really evaluate a business, the best approach is to figure the net profit the business can generate.   So, what is net profit?

“Net Profit is the actual profit made on a business transaction, sale, etc., or during a specific period of business activity, after deducting all costs from gross receipts”, as defined by Dictionary.com.   It is easier to say, sales minus expenses.

Right Franchising understands this and matches candidates to the right franchise; one you can afford and one that generates a solid net profit for you and your family.  We do this with real numbers that you can validate with other franchisees (other owners) in the franchise system.  It is easy to do and really helps you make an informed decision.

So, if you’re ready to take the next step of checking out a Franchise, give me a call. I’d love to help you find just the Right Franchise! Franchise.  Call me at 877-307-1458 and let’s get started!.

FEAR – how we go past it!

(c) Can Stock Photo Fear Graphic

(c) Can Stock Photo

What do CAT scans and purchasing a franchise have in common? Fear.

 

As I write this, I am awaiting results from a CAT scan for my right lung.  I know in my brain that I don’t have Lung cancer (never smoked in my life) and yet, that little small voice keeps saying, “What if?”

I started to think about how sometimes my clients are fearful, but perhaps afraid to admit it because they perceive this as a weakness.   So, why are we fearful and how can we STOP being fearful?

For me, waiting on my CAT scan results, I need information.  Once I have this information, I can make an INFORMED decision.  My new clients are fearful because they don’t have the information they need to make an INFORMED decision.   At Right Franchising, we work together to provide good solid information so our clients will make an informed decision—no shot in the dark!

So, how does one become informed when considering buying a franchise?  First, know some basic facts about franchising:

Ray Kroc, the creator of McDonald’s® coined the phrase:  “Franchising is certainly going into business for yourself, however, not on your own.”  Trying something on your own generates extreme fear!   Franchising is the world’s most successful system for building and growing a business.  By its much defined processes, it helps eliminate fear.

If franchising is so successful, then why am I fearful?  CAT scans are successful too; but until I have the results, I remain fearful.    A good franchise consultant can provide the tools and expertise to find the right franchise that fits you, and then helps you investigate it thoroughly.  You will learn 3 important things during the “Due Diligence” period:

  1. Does the franchise make money, and what is my take home pay?
  2. Does the franchise support its franchisees, and is that support ongoing for the life of the business?
  3. Are the franchisees happy with the franchise, and with their decision to join the franchise system?

In conclusion, how do we defeat fear?  The truth is we don’t!  Even with my results from my CAT scan, I will have to trust that my doctors know what they are doing.  Even with a good solid due diligence, you will still be fearful when you purchase a franchise.  It is still a leap of faith.  The information you and I gather, about the franchises that fit you, helps make it a smaller leap with a very soft landing!

Free Gift from Gayle with Right Franchising

Have you ever wondered, “What do I ask a franchisor when I am interested in a particular franchise?”  For a FREE list of questions to ask franchisors, please Click Here..

If you would like to learn more about the RIGHT way to find the RIGHT franchise that fits you improving your odds for success, please click here: http://www.rightfranchising.com/contact.html

Looking For New Business Funding?

Funding graphicBut, You Have a Few Funding Questions…

Like:

  • How much money will I need? 
  • How do I go about funding a business? 
  • Is the funding safe?

As a franchise consultant, my clients usually have two fearsFear of failure and fear of funding.  In this article we are going to address funding, and in our next Blog post we will address fear of failure.

How to Fund a Business

Most people have bought a house or a car but a business!  How does one even start to understand where to find the money to fund a franchise?  Here are four interesting facts below and four good ways to fund your franchise.

 It is easier to fund a business than to buy a home. You just need the right sources.

  1. Learn from Gayle at Right Franchising ways to fund a business that are safe, proven and provide peace of mind as you start your business.
  2. We find good sources with low interest or no interest rates for our clients.
  3. Right Franchising will provide funding assistance and analysis. So you make the right decision and avoid costly mistakes.

So, there are better ways than to go to my local bank?  Yes! Because banks have less money to loan, and they have increased their requirements which often makes loans out of reach for most people and some investors.

Types of Funding Plans

  • Rollover of funds – without debt, penalties or interest and the government assumes 40% of the cost of the franchise.
  • SBA Express Loans – offers Small Business Loan Express (UNSECURED) loans with loan limits up to $150,000, which are easier and faster to process.
  • SBA Loans – Loans with 20 to 30% down depending on credit score and debt ratio. These loans are for franchises that are from 150,000 to 1 million plus.
  • No Money Down Loans – these loans require no money down and one can borrow up to $100,000 or more in some cases.

Don’t let the fear of funding stop you from owning a strong performing franchise or business.   There is no charge for the conversation only good solid information to help you learn about funding.  Your desire for a business may be within your reach and you just need information.

Please call Gayle at 877-307-1458 or email me at Gayle@RightFranchising.com to schedule a brief 30 minute call.

Copyright 2015