Franchising vs. Start-up
As a franchise consultant I’m frequently asked, “What are the benefits of purchasing a franchise versus a start-up”? There are many, however some of the ones that are at the top of the list are:
- Proven system of operation – An attractive feature of most franchises is that they have a proven system of operation. This system has been developed and refined over time by the franchisor.
- Name recognition – Established franchisors can offer a national or regional name recognition.
- Management assistance – A franchisor provides management assistance to their franchisees. This may include accounting procedures, personnel management, facility management, etc.
- Developing a business plan – Most franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures that have already been established by the franchisor. Other parts of the plan are customized to the needs of the franchisee.
In addition to the above, franchisees are provided assistance with financing, marketing and general start-up.
The experience of the franchisor’s management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training.
Contact me to discuss this in more detail and to learn how franchising may be a great fit into your long-term goals.
Age does not protect you from love. But love, to some extent, protects you from age.– Anais Nin
The best and most beautiful things in the world cannot be seen or even touched. They must be felt with the heart.–Helen Keller
We’re all a little weird, and life’s a little weird. And when we find someone whose weirdness is compatible with ours, we join up with them and fall in mutual weirdness and call it love. — Dr. Seuss
Productivity in or out of the workplace is a huge challenge. In this article, Naphtali Hoff, president of Impactful Coaching & Consulting, points out that there are 4 steps to increased productivity. 1. Plan it, 2. Share it, 3. Do it, 4. Sustain it. The planning process is in many ways the hardest part. His five steps of the planning stage include: Identify the right tasks, Manage and prioritize your to-do list, Set positive, approachable goals, Organize your workspace and Determine what’s needed. Read more!
It is about the BRAND?
written by Natalie Barnes, president of Business Alliance, Inc.
Why do people buy a franchise? It may be emotionally driven related to the food or it may relate to a personal experience with the brand. Whatever the reason, taking the plunge to owning a franchise business means you may want one or many of the below reasons:
- Work – Life Balance
- More flexibility
- Financial gain
- The ability to give back in your community
- Create a family legacy
- More control
What do we do? We understand YOUR WHY! And we don’t look at the brand. Our focus is the model, the role of the owner, and if it is a model that can connect your financial goals to your lifestyle goals! The questions we ask will NOT cover the food you like, where you take your car, or any specific brand! It will be about the business model relating to revenue streams, who are your customers, the value proposition, the key players, and costs; just to name a few.
You must believe in your brand. But START with the business model and end with the brand! You may be pleasantly surprised!
FOR MORE INFORMATION ON FRANCHISING, PLEASE CONTACT:
Gayle Sutton, Right Franchising, LLC.
PHONE NUMBER: 281.642.8280
Gayle Sutton is an experienced franchise consultant who will share her inside secrets into the world of franchise ownership with you. Right Franchising has developed a unique successful process for matching our candidates with the right franchise, providing the expertise and tools to help each candidate make an informed decision. Right Franchising prevents costly mistakes and has successfully placed candidates and investor groups in franchising in 12 years.