Right Franchising

Tag Archive: results

A veteran, a franchise and his mother…

(c) Can Stock Photo

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.

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