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Right Franchising March 2021 Newsletter

MarchQuote

It’s hard to believe that we are nearing one year since the pandemic first started.  I’m optimistic at where we are headed and thought I would share some great advice from Michael Lee Stallard, president and co-founder of Connection Culture Group.

In his recent article “Thriving through the ongoing pandemic”, he points out that thrivers will maintain a realistic sense of optimism and communicate their rationale to others whom they influence.

Thrivers through the pandemic will maintain focus on what’s important and what they can do well in the current environment.  This is a good time to be laser-focused on identifying, or re-evaluating, your three to five priorities for the year and making progress toward those goals.  He also notes to pace yourself.  Don’t try to do too much.

  • Stay Realistically Optimistic
  • Stay Focused on your Top 3 to 5 Priorities
  • Stay Connected

He ends by encouraging his readers to stay connected.  With these three attributes in mind, what actions can you take in the next few days?  Will you be a thriver? 

If one of your priorities this year is to explore business ownership, let’s connect! Many of my clients have recently gone through a job change or will be due to the industry they are in and want to explore franchising, opportunities available, expectations, and the requirements to qualify.


Right Franchising Overview

What We Do

We understand the excitement of owning your own business, and we understand the fear.  Now we put our business experience to work helping others investigate franchises and make an informed decision.  Our services are at no charge to you as we are paid by the franchise associations.  The price for a franchise is the same whether you use a franchise consultant or go it alone.  There are no contracts or long-term commitments—just good solid information.  You gain peace of mind and security around your final decision.

The clients we want:

We want clients who want to know more about franchising and if it is right for them.  They need to be serious about having their own business so that we can provide a thorough and methodical search.   This targeted search saves our clients time, frustration and prevents costly mistakes.

Questions you may be asking yourself

Is franchise ownership right for me?  How will I know?

Tools from Right Franchising:

  1. Business Characteristic Assessment—10 minutes online

Answers the following questions:

  1. Should I pursue a franchise or a job?
  2. What types of franchises are right for me?
  3. What do I value in a franchise model that fits me?

How much money will I need?  How do I fund a business?

  1. We will provide funding assistance and analysis.
  2. We find good sources with low interest or no interest rates for our clients.
  3. It is easier to fund a business than to buy a home.  You just need the right sources.

How do I evaluate a franchise?

With expertise and tools provided by Right Franchising.

  1. A step-by-step process to provide clarity and peace of mind.
  2. Expert assistance and attorney referrals to help you understand the Franchise Disclosure Document.  What it really means.
  3. Franchisee Satisfaction Reports answers the question:  Are franchisees happy in the franchise?
  4. What questions do I ask of the franchisor and franchisees? 

Your consultant will provide the right questions and in most cases be on the call with you.

Will I make the money I want and need to make?   

Tools from Right Franchise to provide real numbers that are understandable and make sense to you.

  1. Easy to understand Performa’s (spreadsheets) with gross revenues, expenses and net (take home) income.
  2. How to ask the financial questions of other franchise owners.  Again Right Franchising will guide you to the right questions to ask.
  3. How soon will I see revenue coming in?  (You will know before purchasing your franchise)
  4. How much money will I need during the ramp up period?  (A step in the due diligence process)

Step by Step Process

Step 1:  Contact Me

Call or email me to schedule a time for a personal consultation.   Gayle@RightFranchising.com or 281.642.8280.

Step 2:  Consultation and Business Characteristic Assessment

We will have an in-depth conversation to understand your goals, passion and investment range.  The information gathered will provide criteria for a more strategic search applicable to your personal and financial needs.  This assessment helps us both understand your goals, values and desires.

Step 3:  Research

I will use the information provided by you to search through hundreds of top-shelf franchises. Our company will also verify that the demographic area you are interested in is available. Through research, Right Franchising will identify quality franchises that match your criteria, your desired lifestyle and your goals.

Step 4:  Recommendations

The selected franchise concepts are presented to you (and any partners) along with data and reasons why they would be a viable choice.  This step will either take you to Step 5 or back to Step 3 where additional choices may be recommended.

Step 5:  Introduction to the Franchisor

I will introduce you to the right person with each franchise, and together we will investigate and learn about the franchise.

Step 6:  Investigating the Franchise

You will be provided with all the research tools and support to fully investigate the franchise including: guides for the franchise disclosure, funding options, validation, analysis, Performa’s and more.

Step 7: Make an informed decision


Forecast Graphic

All forecasts are pointing to optimistic economic growth in 2021. Reuters discusses the U.S. Retail Sales growth forecast

“We are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,” NRF Chief Executive Matthew Shay said in a statement.  Read More


Credit Debt Graphic

What are the loan options available to you when buying a franchise? You may be surprised at the options and the Small Business Administration (SBA) has some significant benefits to new applicants for a 7(a) loan, 504 loan, or Microloan. These SBA loan benefits are significant that include waived fees and delayed payments.

We work with funding agencies that specialize in lending in the franchise sector. Whether an SBA loan, commercial loan, self-directed IRA, equity line, or other funding options are right for you is based on your personal financial situation. Contact our office to find out about pre-qualification and to learn.

Quotation regarding your goals

Dog Training is Booming!

Read below to find out why.

The People Who Got Puppies Were in Over Their Heads

Now professional dog trainers are all booked up. While you wait, they have some advice to share.

Click here to read the New York Times article.

If you would like to know more about successful dog training franchises that have increased their revenue during COVID-19 by 25%, please schedule some time with me using my calendar below.

Gayle Sutton
Certified Franchise Consultant, BAI

You can easily see my real-time availability and schedule time with me at https://calendly.com/gayle-2020
Cell: 281.642.8280
Gayle@RightFranchising.com
www.RightFranchising.com
https://www.linkedin.com/in/gaylerightfranchising4you

Gratitude: More Than a Feeling

https://www.canstockphoto.com (c) Can Stock Photo / liveslow

“I would maintain that thanks are the highest form of thought;
and that gratitude is happiness doubled by wonder.” G.K. Chesterton


Expressions of Gratitude

There are various words used to express gratitude: grateful, acknowledge, appreciate, treasure, and thankful, to name a few.  For many people, this time of year is when they start counting their blessings and looking back on the past year. They gather their thoughts and reflect on people or experiences for which they are grateful. People believe that gratitude is what feeds their soul. What does gratitude mean to you? How do you show it? Looking for ways to express that gratitude in a meaningful way? Below are examples of how you can show your gratitude to the people you know and love.

How is Your Gratitude Expressed?

Gratitude is more than a feeling, and it’s not enough to just feel grateful.  You need to do something with it – that’s where acknowledgement comes in. For example, tell your friends and family why you’re grateful to have them in your life. Acknowledge the impact of their friendship, their support or their love. Whether you sit down to write a note (or email or text), be specific about how they touched your life. Make them feel your gratitude.

How do YOU Show Appreciation?

What do you appreciate about your life? Is it your family? Or your job? Or your health? Or your community? As we and our loved ones, get older, we may not remember his name (Augusten Burroughs), but we remember the quote: “When you have your health, you have everything. When you do not have your health, nothing else matters.” And that is SO true! When you’re in ill health, it’s hard to think of much beyond your personal situation. Being healthy allows you to be more active in your life, business and community. There are many ways to show appreciation in your community for the gifts and blessings you have. Maybe you can assist someone who’s house-bound or bed-bound. Maybe start a food drive to help your local food bank, or drive the van that takes meals to senior citizens. What about a coat drive for foster children – for some, gratitude is a warm coat.

Do you treasure the people in your life? Do they know who you feel about them? And, I’m not just talking this time of year. J Do you show them, in small ways, how much they mean to you? It doesn’t take much – a heartfelt message written in soap on the shower door, having dinner ready on the table for you after you come home from a long day, or clean and folded laundry! Just that fact that someone notices and treasures what you do for them on a daily basis is another form of gratitude.

Whether you are giving thanks for a thoughtful note, a visit from a friend, a delicious meal or a thank you for our service members for keeping this the land of the free and the home of the brave, keep that feeling in your heart all year.

Remember this thought as you go through life – “Gratitude turns what we have into enough.” ~ Unknown.

I hope you have a wonderful Thanksgiving.   If this year, we see our families on Zoom instead of in person, let us be grateful they are well, and hope that next Thanksgiving we will be back to normal.   And in that vein, I plan on having an “Attitude of Gratitude!”  

Business Ownership vs. Employee

Business Ownership vs. Employee graphic

What are some of the differences between business ownership and a job? 

Below, is a comparison of the differences of business ownership and being an employee. Only you can decide which one is right for you! Is it your time?

Business Ownership

  • You are the last one fired
  • You see problems coming so you have a chance to react
  • Business Owners are leaders, so you have to like leading and mentoring others!
  • Not every day is perfect, but you do have the ability to adjust and control the outcome.
  • Three income streams:
    • Paid a salary
    • Tax savings
      • When you pay $100 for a cell phone, you have to have $150 in income to pay for that.  But when you own a business, you can deduct all or a portion of those expense to the business.
      • A person that was making $100k with a job can have the same or a better lifestyle making $70k with a business for this reason.
    • Growth equity
      • You are paid a sum multiple times your investment when you sell. For example, if we have businesses that cost $50k up front, but sell it in 7 years for $1.2 million, that’s 24 times your original investment!
      • You get a piece of the growth of the company you contributed to.
      • Wealth accumulation when you sell that business.
  • Lifestyle
    • Free to make your own schedule
    • Free to take vacations whenever you want
    • Freedom to take care of your family needs as they arise
  • Unlimited potential on salary and earnings, you can take an owner’s draw and pay less taxes
  • Opportunity to be paid for passively running the business once it is in motion
  • You make the rules
    • There is no boss to report to; you are the boss
  • Able to wear the clothing that is comfortable to you
  • Pride of ownership
  • You choose the clients you want to work with
  • Sphere of influence is different; you can make and meet prominent figures as a result of your mutual business
  • Passion of what you do help the economy by creating jobs

Employee

  • Steady paycheck as long as you hold the job.
  • Health benefits are offered by some employers. 
  • The risk you run is minimal, but time is not normally on your side.  See below.
  • Paid a salary.
  • Unfortunately, you can be fired or laid off at any time! There usually is no warning or chance to react in these situations.
  • As you age, you become less valuable to the company.
  • Newest employees are the first to be let go.
  • In the past, employees that were 55 or above saw their income continue to grow.  Now. it grows until age 40.
  •  So statistically, there is a greater likelihood that your income will go down as you age instead of up, and isn’t that the most important time for it to be high, when you are preparing for retirement?
  • All statistics show not only will you have less job security, but your income will actually go down. For example:  You were with your old company for 10 years and you got laid off.  At the new company, where do you think you will be in the list when they need to do layoffs? 
  • Pay is always the same no matter how many hours you put in on the job!
  • Always get paid for work done, can never be passive income.
  • You always have to consider where your employer is located and if it’s a reasonable distance to your home
  • You are a subordinate.
  • Must follow dress codes.

Please see article on how USA’s present employment is on par with the Great Recession of 2008. https://www.bbc.com/worklife/article/20200327-unemployment-during-coronavirus-the-psychology-of-job-loss

Check out this video of how you can purchase a franchise and still afford lunch!

For more information on smart business ownership, contact Gayle at 281.642.8280 or Gayle@RightFranchising.com

Looking For a New Tradition? Add a Fun Game!

Beautifully Wrapped Presents

Maybe you want to add something fun to a Christmas Eve party. Or, add a new game to your small gathering of friends. If you are looking to start a new tradition, here’s an idea for you!

The Basic Idea

There are 3 wrapped gifts for each person who is playing. These are neither serious gifts nor expensive.; they are items you could pick up at your local Dollar store, or even the free items at Harbor Freight. These could include individual festive tissue packets, Q-tips, pencils and erasers (for kids), notepads with the magnet on the back, deodorant, candles, tape measure, extension cord, etc. Collect them throughout the year (or, run out now to get them!  Why not? It’s a great idea!)

At Christmas time, get two gift cards and a $50 bill. These three things are hidden (separately) in the gifts before they are wrapped. At the gathering, pass out numbers (if there are 8 adults, 3 gifts each, so numbers 1-24) on little slips of paper. The numbers determine the order of picking and opening the gifts. So, in the appointed order (from 1 to 24), go around the room and people start selecting (shaking) and opening (carefully!) the gifts. 

Rules of the Game

Each gift can be stolen 3 times. So, if the person who draws #1 picks up a gift and opens it, and then person who draws #2 wants that gift, he or she can steal it. After the steal, the person who was stolen from goes back to the pile and picks out another gift. Start where you left off in the number order. But after a gift has been stolen 3 times, it’s dead. It can’t be taken again. 
 
You can also have a rule that you have to show people what you open, but you don’t have to take out and show the whole thing. You can be sneaky…. make people think you have something special so they steal it and you get to try again! (But, that can backfire if you have a masterful gift card/cash hider.)

How To Get Ready for the Game

1. Start collecting gifts as far in advance as possible. Anything goes. There’s the free stuff you might pick up at local fairs & festivals, chamber of commerce gatherings, conferences, and dollar store finds.  It’s mostly a bunch of practical, everyday-use kinds of items that are inexpensive but useful. 
 
2. Hide the gift cards (restaurants, movie tickets, etc.) in the items. You’ll get more ingenious as you do this! Often, the person who has the gift card or the cash doesn’t even know it!! Tip: Make a tiny slit in the Q-tips container and slide the $50 bill in. No one would see it. No one would find it. Also, make sure you write down where you’ve hidden the goods! With a couple dozen wrapped gifts, it’s easy to forget. 
 
3. Give yourself a good chunk of time to wrap the gifts. It may take 2-3 rolls of wrapping paper for this year’s game (so if you want it all to match (not that it has to), be sure to pick up a few rolls. Find a great audio book or holiday movie and enjoy wrapping!

It’s a fantastic Christmas tradition for older kids, you know, once they’re too big or too cool to sit on Santa’s lap or other younger family traditions. It would also make an awesome Christmas party game for an office or group of friends, or any other group of human beings who love a good time.

It you tried a new tradition last month, starting one this month will add to your joy!

Hope you love it! I’d love to hear how yours turned out!