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4 03, 2019

How do you know if you’re ready to own a franchise?

2019-03-04T21:50:40-04:00March 4th, 2019|

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You’ve been thinking about taking the leap into owning your own franchise for awhile now. But how do you know if you’re really ready? Below are a few signs.

You want your freedom

There can be no denying that the “freedom” factor is a major reason why people are attracted to franchises. Maybe you’re sick of not being able to chart your own career path. Or you need the flexibility to combine work and family time. Either way, a franchise can definitely free you to do the things in life you want to!

You want more money

You’re the kind of person willing to work harder for more money. But maybe that sort of opportunity isn’t available in your present job. The revenue from franchises, on the other hand, accounts for over one-third of all U.S. retail sales. Why not grab a piece of that for yourself?

You want a sense of purpose

So many salaried jobs today can be soul-draining. You long for something that allows you to pursue your dreams, do something meaningful or maybe make a difference in the lives of others. Whatever your sense of purpose, a franchise might just allow you to achieve it!

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18 02, 2019

Franchising ain’t what it used to be

2019-02-18T20:20:30-04:00February 18th, 2019|

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Franchising has changed a great deal since the practice first started. Even the past half-century has seen significant movement in the way such businesses are initiated, executed and conducted. No, franchising ain’t what it used to be.

It’s so much more.

How franchising began

It used to be that stores would only look to franchise if their customer base demanded it. Say, if customers complained they couldn’t get an item at a particular location, or that the drive from their home was too far. Now, franchises are looking to CREATE the demand they seek. They’re doing market research right from the beginning to find the hottest trends, and then capitalize on them in the franchise sphere.

Methods of funding

You used to need a significant amount of capital to open a franchise, and there were usually only a few ways to get it. You either had a lot of savings in the bank, or you used something of great value to you (like your house, car or other asset) to get a loan from the bank, placing your beloved item at risk. But now, there are many different funding options if you’re looking to get into franchising – and many franchisors who will be happy to discuss them with you.

Franchising options

Franchising options used to be somewhat limited. There were only a few industries you could go into, and it helped to have a good deal of experience with them in the first place. But presently, the types of franchises you can own run the gamut from fast food restaurants to automotive centers. This means that, wherever your passion and knowledge have taken you to this point, there’s probably a franchise that matches them.

Get more information about starting a franchise

Has any of this piqued your curiosity about owning your own franchise? Talk to a franchisor today, and find out what the future holds for YOU.

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4 02, 2019

You’re never too old to become an entrepreneur

2019-02-15T19:56:08-04:00February 4th, 2019|

95774543_MWhen you hear the word entrepreneur do you think of young, millennial-aged hipsters?

While tech icons like Mark Zuckerberg and Elon Musk get much of the news coverage, it isn’t just young or middle-aged people that are finding success in the business world. In fact, a 2016 report by the Kauffman Index of Entrepreneurship found that 24% of new entrepreneurs are between the ages of 55 and 64 and that number is expected to rise.

Even if you’ve recently retired or are preparing to do so, owning your own business comes with dozens of benefits. And at your age, you also have some unique advantages including:

Career experience. As a Baby Boomer, you’ve been in the workforce since the late 60s or early 70s. You have over four decades of work experience that you can bring to the table. Whether you’ve stayed in one industry your entire career or have jumped around from profession to profession, you’re an expert. Use that past experience build something great.

A wealth of knowledge. Wisdom comes with age. You’ve witnessed hundreds of social, professional and personal interactions in your life and you know what communication techniques work. You’ve also seen the rise of new technologies and industries, and have managed to adapt and succeed all the while. Your resilience puts you in a unique position to thrive as an entrepreneur.

You’ve been through the good and the bad. Young people are often willing to throw in the towel after one or two minor setbacks. Not you. You’ve witnessed it all. As a Baby Boomer, you’ve experienced rejection, acceptance, business deals, and business faux pas. You know that change is a part of life, but you embrace that fact and use it to your advantage.

Don’t sell yourself short! No matter your age, there’s no better time than now to pursue your business dreams.

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