In the second year of the Civil War, Union troops were destined to learn a tragic and valuable lesson about the lack of a well thought out exit strategy from battle. It was December of 1862 and Federal troops had taken up positions in the town of Fredericksburg, Virginia—determined to cross the Rappahannock River and attack Confederate troops on their way to the Rebel capital of Richmond.

In preparing for the Battle of Fredericksburg, they badly underestimated just how dug in and fortified the Confederate positions were. As company after company crossed the river in boats in preparation for the upcoming fight, many of the officers and men in the Federal camp were amazed that there seemed to be little or no resistance to their initial advance.

Then, a lowly Private in one of the boats made an educated guess, which foretold of the impending disaster by stating, “They want to get us in good and close. Getting out won’t be so smart and easy.”

Over the next two days, Federal troops were soundly defeated, with over 17,000 killed, wounded or missing. And much of the slaughter could be traced back to their lack of a cohesive exit strategy.

The same holds true today when it comes to the consideration of business ownership. While it has been stated previously in this blog series many times before, the single-most important consideration is choosing the right type of business. If done properly, this will determine your roadmap to success. However, equally important should be your long-term plan for strategizing an exit or transition once the business objectives have been fulfilled to your own personal satisfaction.  

Dr. Stephen R. Covey, author of the immensely popular best-seller, “The Seven Habits of Highly Effective People” echoes the value of exit strategies by outlining his views in Habit No. 2: Begin With the End in Mind. This important concept holds that you, as the prospective business owner, must be able to envision the proposed destination of your plan, start to finish—and remain proactive enough to see it through to the finish line. Covey clearly states that the easiest way to accomplish this method of thinking is to write out your Personal Mission Statement. And that includes covering all of your bases from the inception of your plan all the way through to a carefully crafted exit strategy.

What you need to know is that having a well-thought out exit plan is going to shape how you will both build up and run your business. Keep in mind that when you begin the effort to author your all too important business plan, an exit strategy should receive a Roman Numeral of its own. Americans are living longer and healthier lives. And your business should have just as healthy a life, as well. Below are the three main options for a well-crafted exit strategy of your business:

Selling Your Business

This is a very attractive option because it raises the specter of “cashing out” once the business has built up valuable equity of its own. If you begin a business with the outlook of one day selling it for a profit, deciding and knowing when to pull the trigger will be a concern. However, if your exit strategy calls for a set amount of time to elapse prior to the sale — say five or ten years — stick to your plan and prepare to reap the benefits of your hard work.

Running Past Retirement

The United States has an official retirement age, but these days it is becoming an oft-ignored date. As previously stated, people are living longer and healthier lives and often times obtain much enjoyment from running a successful business into their golden years. Perhaps then, you intend to stay on and direct efforts while considering family members as natural successors. Inheritance in this case can mean a well-developed business in addition to other financial holdings. And there’s nothing wrong with keeping things in the family, provided that the initial business plan and direction are continually in line with the original details.

Taking a Step Back

Another popular exit strategy—especially in the franchise world—is having the ability to step back and allow another individual to lead your business efforts. Ownership is retained and, in effect, you have the option to bring in a qualified candidate in order to “Manage the Manager.” If the right match can be found, whom you will entrust to run the day-to-day dealings of your business, you will have increased leisure time while your equity continues to grow at the pace you are directing. This tactical method is also referred to as the “Semi-Absentee Model” in the franchise world.

Hopefully you now have a clearer understanding of just how important an exit strategy can be in relation to your overall business plan. Make it a vital part of your strategy from the outset and you’ll be in position to benefit from the equity you will have built up over the life cycle of your business or franchise.

Do you feel that you’re ready to get started? If this article has inspired you to craft an initial business plan with a well-thought out exit strategy, perhaps it’s time to talk with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.

Throughout the course of the past few months, we at FranNet set out to provide some excellent topics for our blogs designed to speak directly to those considering a possible future as a small business or franchise owner. We’ve covered some vital subjects such as the three ways to own a business and touched upon significant details about which industries thrive in any type of economy. While these blog topics are designed to be informative and helpful, there are some other independent resources well worth checking out once you decide to get serious about taking over the reins of your own future.

As consultants at FranNet, we believe that reviewing and researching the subject of small business ownership and franchising is an ever-evolving matter. We simply cannot stress the value of independent research prior to making some of the most important lifetime decisions. We’ve stated before that finding the right match for your experience and abilities is the single most important factor in the potential for your future business success. And with that thought, we’re happy to recommend a reading list of two very important books which command a great amount of respect in our industry. Below, we offer a brief synopsis and highlight some of the most important lessons of each title. If you’re poised to make a move in the near future, you’d do well to have these books on hand prior to signing on the dotted line.

“The E-Myth Revisited,” by Michael Gerber
What is the E-Myth? Strictly speaking, author Michael Gerber is making a concise point that many entrepreneurs—the “creative and idea” types—make lousy businesspeople. The premise of the book is based upon solving this rather surprising dilemma. In each chapter, Gerber sets out to design a road map for success in any environment by delineating each and every factor necessary to bring about significant business accomplishments. Primarily, the author establishes a very detailed plan which drills down to the day-to-day level of job necessities, which—if followed to the letter—offers an excellent chance of business establishment, traction and then success.

Along the way, Gerber dispels many of the same business myths we’ve covered in past blog entries. In tackling assumptions, the author makes certain that his readers won’t fall prey to the common pitfalls which can so easily be corrected with the right thinking, planning and implementation of successful strategies. The different stages of your business are covered from infancy to maturity, with valuable tidbits of advice designed to be easily understood. There is a particular emphasis on franchising in “The E-Myth Revisited,” as Gerber draws parallels from successful established brands and how these lessons can apply to your personal situation. Last, the author is keen to remind his readers that there are clear differences in inserting yourself into your business vs. working on your business in the long-term.

There is a reason that the best-selling “The E-Myth Revisited” has over 150,000 copies in print. It’s simply an excellent read for the burgeoning business owner in you. It’s on our official recommended reading list and is a part of all of our business presentations.

“Street Smart Franchising,” by Joe Mathews
If you’re looking to eventually own your own successful franchise, it makes sense to hear from those who have been down that road before. And “Street Smart Franchising,” by Joe Mathews, is chock-full of advice from numerous successful franchisees more than willing to share their prior experiences with the reader. Targeted directly to the entrepreneur crowd, “Street Smart Franchising” is a thorough collection of personal stories aimed at giving the next generation of franchisors a leg up on the competition. Simply put, it’s the “What to Expect When You’re Expecting” book of the franchise world.

With franchising, there will always be difficulties during the startup phase. But gaining valuable knowledge from successful business owners who were once in your shoes makes for an interesting page-turner. You’ll read firsthand accounts of the pitfalls, shortcuts, hidden secrets and unexpected circumstances of many personal business owners. And they’re happy to pass along their knowledge to the reader for the sake of eliminating common mistakes and misconceptions while growing your business.

The book also includes a particular focus on the thorough investigation process of franchise opportunities. Once again, it’s a valuable aspect that we at FranNet can never underscore enough. As with “The E-Myth Revisited,” “Street Smart Franchising” is on our recommended reading list. To borrow an old adage, it pays to do your homework.

You can own a copy of these titles by visiting Amazon.com or stopping by pre-owned outlet such as Half-Price Books. Arm yourself with the knowledge you’re going to need by reading these books today.

Do you feel that you’re ready to get started? If this article has inspired you to check out either of these book titles, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.

With over 3,000 choices of franchise concepts in the marketplace today, your options for owning your own business are limitless. But not all franchises are created equally. So, how will you be able to gain the necessary piece of mind that the opportunity you intend to pursue is legitimate?

Say hello to the Franchise Disclosure Document, or FDD for short. Quite simply, it’s a legal document mandated by the Federal Trade Commission (FTC) designed to assist the potential franchisee through the due diligence process. The FDD offers incredible access and insight into a franchise and its operations. Every legitimate franchise must produce one. If a company doesn’t, remove yourself from discussions as quickly as possible. At its core, the FDD removes any emotion from the process. It’s required to be presented to you and once it’s been produced, spend careful and considerable time reviewing it.

Under FTC guidelines, the FDD must be presented to the potential buyer in the pre-sales process no less than 10-14 days prior to entering a contract or paying any amount of money for a franchise. And as you’ll see, it may be the single most important document you’ll review during the entire procedure.

The required FDD paperwork includes the term “Disclosure” right in the title…and for good reason. Regardless of the type, size or scope of a franchise opportunity, the FDD follows a strict format. A franchise FDD is, in essence, a road map for reviewing the full opportunity’s legitimacy in the business world. FDD’s are uniform and consist of 23 specific items. You would expect that subjects such as franchise fees, initial investment totals and trademarks are covered. But the beauty of the FDD is in the depth of its contents. You’ll also read about assigned territories, renewals, restrictions and advertising efforts.

The FDD strives to give the potential franchisee the Who, What, Where, When and Why (or the five Ws) so that he or she can make the most informed decision possible before buying a business. Did you know that the FDD also includes a lengthy section concerning financial performance and representation? Sufficed to say, you’d probably like to know how much income you can expect prior to creating a potential balance sheet of profit and loss—and the FDD will have this subject covered in detail.

You also have a right to know if there is any pending litigation filed against a particular franchise group. This section includes even the most minute of situations, but also extends to the franchise’s executive officers. Of particular interest to most potential buyers are the specific territories offered. The FDD lets users know what’s open and what’s closed. And this is information you’ll need to know if you had the notion of opening a business right in your own backyard.

Perhaps best of all, the FDD should be perceived as expertly outlining each and all obligations necessary to enter into a business agreement with a franchise. You have every right to make the most informed decision possible when selecting a potential franchise opportunity. Under the Federal Trade Commission’s guidelines, the Franchise Disclosure Document is there to safeguard your journey. It accomplishes this goal by laying bare all of the requisite information necessary to make the best possible determinations when going into business for oneself.

Remember, the Franchise Disclosure Document is there to protect you, the consumer. In the most specific way, you’ll find out what is required of you and what is required of the franchise. That’s why it should be your own personal guiding beacon as you investigate an opportunity.

Do you feel that you’re ready to get started? If this article has inspired you to investigate an FDD as the best way to learn about starting your own business, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company with a great track record of assisting individuals on their path to business ownership, make arrangements to speak with one of our representatives today.

It’s no secret that thousands of intelligent employees harbor a desire to eventually go into business for themselves. They do this for many personal reasons, not the least of which is the belief that they can be successful at the helm of their own organization. Perhaps you’ve been in a particular field long enough to know of a more efficient way to run a similar business model. It may stem from the famous thought that you can build a “better mousetrap,” as the saying goes.

Generally speaking, there are three ways to go into business for yourself, including starting a business from scratch, buying an existing business to run or investing in a franchise opportunity. There are similarities in the two preceding examples, but as we will see, one of these three options has a much higher rate of success over time. Let’s take a look at the three distinct paths and delve into the pros and cons of each journey.

Starting a Business from Scratch

You’ve got a great idea for a business. You may be an expert in your field and ready to branch out on your own with the knowledge you’ve gained while working in a similar industry. You’ll certainly enjoy having complete control over your new venture. You alone will be making the decisions and reaping the profits, right? Then there’s the downside. You must come up with a viable business plan, make all the decisions (right or wrong) and create the financing and systems necessary to be successful. And studies have shown that it may take years to turn an actual profit.

Buying an Existing Business

A little bit safer alternative is buying an existing business. After all, the framework will already be in place and you may have historical results to fall back on. Buying an existing business makes you slightly more attractive to lenders because the establishment of your location, employees and systems should already be in place. However, what if your assessment of the opportunity is off? Small factors such as employee defection, a higher debt service and a lack of support from the previous business owner could hamper your efforts to successfully start the business further down the line.

Investing in a Franchise Opportunity

The final option for starting your own business may be the safest option of all. And why is this? Well, franchises are well known for providing the investor with a proven concept or service—often times with a well-run brand awareness effort. In almost every franchise option, there is a proven business model with well-heeled systems in place to predict future results. Adding to this positive aspect is the level of support you can count on from the franchisor and other franchisee owners in the same category. You’ll do well because they do well…and vice versa. The only drawbacks to this business ownership opportunity may be the endless supply of options you have to choose from, but don’t take this decision lightly. Matching your business skill set to a particular franchise is likely the single most important decision you’ll have to make. 

It’s time for revealing some interesting facts and figures that lend support to the franchise ownership option over the other two paths to business ownership. From 2006-2010, FranNet conducted a study to track the multi-year success rates of the three ways to go into business. A key finding? 92 percent of FranNet franchise placements were still in business after two years, compared to only 67 percent of other small business ventures (according to studies by the U.S. Census Bureau). After a five-year period, FranNet placements clocked in at 85 percent success rate compared to only 50 percent of other small businesses. What should you take from these statistics? There is innate value in matching an individual with their ideal franchise concept, because it consistently leads to a much higher rate of business success.

Do you feel that you’re ready to get started? If this article has inspired you to investigate the best way to start your own business, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company with a 25 year track record of assisting thousands of individuals on their path to business ownership, make arrangements to speak with one of our representatives today.

The very idea of owning a franchise or starting a new business of your own is a popular dream. The next time you’re in a crowded setting—perhaps a park packed with people on a sunny day–try to imagine how many of those present actually harbor a secret desire to take charge of their own destiny. Maybe some of these individuals have a burning desire to start a business of their own—particularly in a field in which they possess superior knowledge and experience. There is no doubt a precious few of these folks will have a drive deep within themselves telling them to “go for it” or “grab for the brass ring.”

So why do so few take this proverbial leap of faith toward entrepreneurship? Two words—flawed thinking. Unfortunately for most, their conscience takes over and provides a litany of excuses, inaccurate predictions of impending doom and an avalanche of self-doubt. Sadly, these combined mindsets ultimately contribute to a complete backlog of unfulfilled promise and potential.

It doesn’t have to be this way. In striving to gain knowledge about the realities of going into business for yourself, you’re initially likely to bring into focus some of the leading misconceptions which prevent you from taking action. Let’s review three of the most common examples and address how they can be overcome.

At the forefront is money and financing. Most are under the impression that buying a franchise is going to take an inordinate amount of cash on hand or even a soon-to-be-turned-down bank loan. However the reality of this situation is much different than most people suspect. The federally-backed United States Small Business Administration has a wealth of knowledge and loan programs designed to dispel the erroneous notion of just how much capital it takes to get a business started. Did you know that of the over-3,000 different franchise concepts on the market today, nearly a full third of them have an investment range of only $50-100k? The further you investigate the unlimited options of money and finance in the small business world, the more you’ll become convinced that the requirements necessary to lead you on the path to entrepreneurship should not be viewed as a stumbling block.

Security is another leading factor in the flawed thinking which prevents individuals from taking a chance on owning a franchise. The thought of giving up a steady salary, benefits and even matching retirement funds is often too much to consider losing. But, in reality, you may not have to give up your “day job” in order to get your dream business off the ground. In fact, many business advisors even recommend this approach. Sure, there may be an increased workload for a set amount of time, but creating a thriving business with a safety net is well worth the trade off. Furthermore, many franchise concepts are specifically designed to meet this risk-averse approach.

Last but not least, it’s good old-fashioned fear that keeps most would-be business owners on the sidelines. Fear of the unknown and a fear of failure top the list of flawed thinking. However, research has shown time and time again that well-prepared individuals determined to succeed in a particular business or franchise field can do so—especially those with a meticulous business plan and a commitment to follow through on it. Risk reduction is real and the calculated resources pledging assistance to this concept run deep throughout all the pro-business and pro-franchise worlds.

Nobody can take that all-important first step but you. But when you do, you may find yourself walking alongside a legion of others—all of whom used to have the same kind of flawed thinking that once kept them from achieving their dream of entrepreneurship, business ownership and success.

Do you feel that you’re ready to take that first step? If this article has inspired you to investigate how to overcome the flawed thinking preventing you from business ownership, perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. As it turns out, FranNet is just the place! As a franchise consultant company having helped thousands of others to change their mindset in positive ways, allow us to pass along encouraging wisdom on this subject by speaking with one of our representatives today.

Without a doubt, everyone at one time or another has heard the phrase, “Don’t quit your day job.” Usually, it’s heard after repeating a particularly bad pun — or maybe even after a poor attempt at cooking a meal seen on a celebrity chef show. However, this phrase has a literal meaning in the world of franchising. And its message is one of comfort and security.

For most dipping a toe into the waters of franchise ownership, there is an assumption that you will be trading one job/lifestyle for another. Surely a well-run business is going to take a full-time owner/operator, right? Well, not exactly. In the franchise world, which is designed to meet an adaptable working situation, there exists the “absentee” and “semi-absentee” business model. Franchise industry experts also refer to this concept as a “managing the manager” scenario. While it may not be suitable for every candidate, it could be your safer route to success. There may be less pressure to have the venture succeed quickly and you’ll have the luxury of being able to overcome obstacles at your own pace. All because you’ll be allowed to keep the safety net you depend upon—your day job.

Quitting a job in a sluggish economy is probably the last thing a successful full-time employee would want to consider. In fact, some might deem it downright crazy to leave the stability of a salary and benefits. However, with a semi-absentee model, you won’t have to worry about your peers questioning your sanity. It is possible to have the best of both worlds if you carefully research your business model and craft a stable plan for graduated growth. Some small business and franchise candidates may gravitate toward opportunities in areas where they already have experience, knowledge and know-how. In a semi-absentee business, this can be an important factor.

One of the first benefits you may recognize is the reduced concern of funding your venture. In addition to the working capital necessary to launch a franchise or small business, banks and lenders will see the supplementary financing as less of a concern with a working and salaried owner at the helm. If done correctly, you’ll always have your secured cash flow present while building out the future profits necessary to maintain your initial investment costs.

Keep in mind that growing a business on the side while you keep your day job must be done in phases. It may take a while longer to see the results, but during this period you will be operating with the safety net you’ve come to depend upon prior to your business launch. Remember when we mentioned “managing the manager”? Now would be a great time for you to begin your calculated search for just the right employee to shepherd your side business. While searching for the right fit, ask yourself if you can really “let go” of things and allow this manager to drive your business and subsequent profit margins.

Absentee and semi-absentee businesses can be a safer alternative while starting a successful venture. Locating and launching a valuable franchise opportunity while keeping your day job, your salary, and your benefits is possible to achieve. It’s perhaps a safer route, but it requires an intricate set of segments. Taken together, the venture will become a bit of a “balancing act.” And who among us would admit to a lack of this feature already present in our own lives?

Despite what you may have always been told, it is possible to have your cake — and eat it, too!

If this article has inspired you to at least investigate absentee and semi-absentee business models, perhaps it’s time for a free consultation with a qualified, experienced and local franchise specialist. As it turns out, FranNet is just the place to find one! As a franchise consultant company having helped many others to keep their day jobs, allow us to pass along some encouraging wisdom on this subject by speaking face-to-face with your local FranNet specialist today.

With the national economy seemingly headed slowly out of a paralyzing recession over the past four years, it’s safe to say that many people have become ‘hyper-aware’ of their current employment and financial environments. Those investigating franchising ownership has increased significantly due to this heightened state of awareness for many reasons. Proven business models, forecasted revenue results and a myriad of financing options have become the attractive calling cards of a paradigm shift in thinking—one that rests squarely with self-reliance.

FranNet has seen the marked increase in franchise ownership interest skyrocket over this same time period. And when we meet these individuals, invariably one of their first inquiries centers on the economy — which franchises perform best in a down economy? While this is a great question, we look to franchise concepts which perform well in any type of economy. Below is our All-Star list:

Senior Care:
As the American ‘Baby-Boomer’ population ages, so does the need for their continued care and quality of life. People are living longer and healthier lives thanks to breakthroughs in health care medicine, technology and living arrangements. With the franchise industry loaded with senior care opportunities, candidates can focus on areas of business which handle home health care, non-medical concierge services and even spa-like adult day care centers. Statistical analysis tells us that senior care will remain a growth industry.

Home Repair:
The ‘handyman’ franchise concept is hot. Maintaining a viable home is work — hard work — in many instances. And in today’s world of cramped schedules, much of this upkeep can often go neglected. In many cases, some lost home equity may be recouped with the continued investment of upkeep. The purpose of the home repair franchise is designed to delve into extremely skilled labor such as plumbing and electrical fixes, as well as more mundane tasks that the homeowner either can’t — or won’t — be able to handle on their own. With a reasonable pricing structure and a guarantee of all completed work, home repair franchises are fast becoming a welcome option.

The ‘Essential’ Services:
There are some things in life that require regular service regardless of what the stock market is doing. Most people will need their hair cut every 4-6 weeks, your car will typically require repairs and upkeep and—suffice to say—you must eat on a regular basis! FranNet can direct candidates to dozens of franchises that fall neatly into this category. You may find running a small auto repair business, a beauty salon or a café/restaurant concept is the ideal franchise for you. One thing is for sure—your customers will be regular.

Professional Services:
In any economic environment, be it a Bull or Bear Market, the nature of businesses that provide services to other businesses will always be necessary. Since every business constantly looks for that competitive edge, professional services have become a vital service and a sought-after exercise. Business coaching industries and tutoring services are two of the most common examples. The beauty of this category is the variety of services offered. Investigate your greatest professional strengths and you may find a concept which lines up neatly with a preferred franchise service.

Fitness:
The trend toward healthier lifestyles is becoming a very common theme. Simply put, people are eating better, exercising more and taking care of their bodies like never before. A steady drumbeat of news, information and medical studies are propelling an interest in the fitness and health and wellness categories. There are several concepts that cover this ground from weight loss and nutrition to fitness and sports.

While the economy has presented us with challenges and forced us to reevaluate our financial futures, it’s nice to know that several business categories will always thrive in any type of economic environment. If you’ve been considering an investigation of franchise or small business ownership, perhaps this is yet another convincing point that will lead you to speak with a FranNet representative today.

As we begin 2013, all eyes continue to be on the nation’s economic recovery—with which we have been engaged in a struggle for better stability over the past four years. Several economists and financial sources cite that, while things have steadily (albeit slowly) improved, America may be in the midst of a “new normal” in terms of its level of improvement. While the national unemployment average has seen wild fluctuations over this same period of time, we find the current level in a near identical range as when the crisis began to unfold. Suffice to say, very few businesses in corporate America have been able to escape the cycle of downsizing and outsourcing.

Executives previously locked into so-called “safe” environments have found themselves alongside the bevy of recent college graduates—all scouring limited job opportunities rife with qualified candidates. In the most conservative estimate, it is proffered that—at a minimum—there are three candidates for every corporate job opening today. Facts and figures such as these have led to a sea-change in attitude. From those willing to initiate an investigation of small business ownership to the full-on “I can’t take it anymore!” crowd, it seems as if alternatives to working for others have truly been replaced by the attraction of working for themselves.

Of all considerations poured into the discovery and investigation of small business or franchise ownership, what is the one of the biggest misconceptions? Money. Specifically, the amount necessary to invest in a worthwhile opportunity that leads to financial independence. Ask most potential prospects and franchise candidates about the capital necessary to invest in their future and you’ll likely hear an astronomical figure that has no real basis in fact.

A full one-third of the more than 3,100 small business opportunities require an average buy-in cost of $50,000 or less. Add the fact that most—if not all—will finance the largest portion of funds necessary to begin. All of a sudden, a dream of franchise or small business ownership can be converted into a path leading to financial independence.

And there’s even more good news. How would you like for your initial investment amount to fall into the tax-free and penalty-free category? Well, it’s true. Funds from your personal 401k account can be “rolled over” to provide the capital necessary to get your franchise up and running. Without the dreaded “early withdrawal” penalty.  FranNet can point you to resources to understand your opportunity.

If you’ve read a surprising statistic or two in this blog, perhaps the time is right for you to consider a no-obligation consultation with a FranNet advisor. If you’re willing to pay zero dollars and zero cents for the privilege of receiving this advice, you’re what FranNet calls its target audience. In reality, franchising and small business ownership is not beyond your reach. And achieving financial independence on your terms instead of relying on corporate America is becoming a safer bet in these “new normal” times. Find out where you stand and how to unlock your finance potential in the world of franchise ownership today.

Connect with your local FranNet specialist right now to get a gauge on your business future. Simply click on “Request More Info” on the left side of this page.

EDITOR’S NOTE: Recently, FranNet’s director of marketing and public relations, John Blair, was featured in the publication 1851 Franchise Project (http://www.1851project.com), a franchise publication that according to its website, “was created to bring the franchise world together through an online educational resource where you will find daily content from thought leaders, journalists, and entrepreneurs.” Below is a transcript of the conversation Blair had with the publication.

By BEN HEINEMANN

John Blair, FranNet Director of Marketing/PR

The economy may have officially hit broken record status; every report or news story on the topic continues to state that it’s sluggish and isn’t picking up momentum anytime soon. However, what’s the same old news for everyone else means big business for the franchise industry and related companies. Coming on the heels of the news that FranNet, a franchise broker that matches people to the best franchise opportunities, made a gross revenue of 44 percent above its earnings for 2011, we sat down with the company’s Director of Marketing, John Blair, to learn more about why a sour economy means sweet success for FranNet.

1851: Why has franchising continued to be a job creator despite the rough economy?

Blair: It’s because of the rough economy that franchising has continued to be a job creator, and perhaps more importantly, a dream enabler. Corporate America remains at a standstill in terms of viable job creation; good paying, mid-management level and above positions. Plus, some companies continue to downsize in search of the proper balance of corporate overhead and profitability. That has left a vacuum of very experienced, seasoned business veterans searching for their next opportunity. Franchising presents that opportunity for them as it combines their entrepreneurial ambition with the structural support that franchisors provide. These former corporate folks are realizing that the best investment they can make is in themselves.

1851: You mention the vacuum left by companies downsizing. Do you find a lot of new potential franchisees or your clients are turning to the industry because they have been laid off from high-profile positions in traditional positions?

Blair: That’s exactly what we’re finding. This isn’t your parents’ or your grandparents’ corporate America anymore, and the executive workforce is responding to that. There are fewer and fewer opportunities in corporate America. And even in those opportunities that are still out there, the lifespan of a corporate executive is becoming shorter, now believed to be below three years on average.  So logically, those executives are looking ahead and asking themselves, “I may have to go through job transition again within the next three years?” That’s a tough reality to think through, especially when you figure families and children into their decisions. Franchising affords them the opportunity to take control of their future.

1851: How does the success of the franchising industry equal more revenue for FranNet?

Blair: FranNet is the premier franchise consulting firm in North America.  With the help of our proprietary profiling of our clients, we guide and counsel our clients toward franchising concepts that perfectly match their goals, strengths and budget. We work incredibly hard to ensure we find a great fit for that person, as well as for our franchisors. We work with so many well-respected, dynamic brands that are looking for their next top-performing franchisees.  As the franchising industry grows and the secret gets out of the bag about all the opportunities in franchising, FranNet sits in a perfect position to assist individuals in finding the best franchise for them.  Understand though, franchising can be a pretty overwhelming industry if one was to simply begin looking on their own due to the incredible range of opportunities available. We help focus that search , and in the meantime, provide excellent candidates to the franchisors for their growth.

1851: FranNet turns down about 200 franchisors per year who want to be represented. How do you decide on what franchises to represent?

Blair: We look for rock solid companies – financially, operationally and structurally. We demand a lot of our franchisor partners because we respect the relationships we have with our clients so much. FranNet is being given an incredible amount of responsibility in helping our clients find great fits for them, and that’s a responsibility we take very seriously. Just like our clients, we want to make sure our franchisor partners are set up for long-term success. We’re constantly vetting our franchise partners to ensure that we’re representing the best interests of our clients, as well as the best interests of our franchisors.

As experts at matching clients to the best franchise that fits their needs, FranNet’s consultants are at the top of their game. From time to time, the FranNet Blog will sit down with several FranNet consultants to gauge their thoughts and opinions on some of the issues facing franchising. The Executive Round Table is an opportunity for FranNet’s experts in the field to share their thoughts on trends and themes seen in franchising. Here are some notable points from the conversation.

On being a sounding board
Cari Lyn Vinci, who’s based in Roseville, CA, discusses one of the most important roles in her position. “My goal is to enable clients to make fact based decisions. I am their sounding board. I tell them there will be roadblocks and the fear factor always sets in, but I will be there to help them through it.”

Helping people realize their full potential

Ted Fireman’s a FranNet consultant based in New Orleans, LA. He elaborates on how appealing being your own boss is. “Having grown up in a family with a dad that owned a small business, I appreciated the freedom he was allowed. Additionally, I have noticed throughout my career there are several people I have met that feel that their jobs don’t utilize their full intelligence and talents. Many are constantly dissatisfied, and want to be doing so much more with their careers. I really enjoy my job because I enable people to explore something different, to do something they feel truly passionate about.”

Being the local expert matters
Stacy Swift of Denver, CO mentions a key differentiator for FranNet is the location of its consultants. “We are the local trusted franchise expert. I could help someone buy a franchise in Miami or another city, but I do not want to. I do not know that area and would be unable to give them the best consulting services based on their geographic location. I like the face to face component. It is important for me to get to know my clients, and develop a personal interaction with them.”

Finding the right fit – even if the right fit is nothing
Pat Deering, based in Tampa, FL, discusses why the FranNet process is so wonderful to help small business hopefuls at finding the perfect franchise to buy. “I get just as many referrals from people who do not buy because they appreciate the fact that we help them find direction. I am not going to push someone to do something that’s not right for them.”

Being the coach

Gordon Dupries of San Francisco, CA elaborates on his role as coach in helping people realize their dreams. “From recent college graduates to boomers, I enjoy making a difference, teaching and mentoring people, in ways that can open up new career opportunities and income streams. I don’t know that it is always life changing, but it can be. When you’re in the thick of it, creating value for someone and coaching them through the self- employment question, covering their interests, experience, goals and potential pitfalls, it is extremely rewarding and a lot of fun.”

 
If you’d like to get in touch with one of FranNet’s locally-based consultants to discover if business ownership is for you, simply click on the directory and find the consultant in your area.