Ready For A Career Switch? Consider A Franchise

If you feel like you’ve spent too long in your job, are bored and losing hope of advancement, don’t despair. Take charge and consider starting a business of your own to fully realize your talents.A great way to minimize your risk is to consider a franchise — which offers hundreds of ways to start anew as a business owner. You get to be the boss while taking advantage of the experience of other franchisees and an operating system that has been tested over time to help maximize your chance for success. All you have to do is be willing to follow the franchisor’s system. If you are, you can reap the rewards for yourself. Not only do you get to take charge of your day-to-day life — no more clearing days off with six layers of bureaucracy — you have the potential for far greater income than you ever would stagnating as a management executive. As a matter of fact, most millionaires in the United States made their money by operating their own businesses, according to a study by the authors of “The Millionaire Next Door,” Thomas Stanley and William Danko. Franchises offer a way to reduce your learning curve in a business you may have no experience in. With more than 3,000 franchisors in 75 industries to choose from, the hard part is making the right choice, which is why it’s so important to do your research and consult expert advice. Your reward for doing your due diligence is the potential payoff of operating a successful business.

5 Tangible Advantages Of Franchising

With a franchise, you get:

A Proven System

A franchise operation has over time developed a system, complete with specifications on how to set up the operation, hire employees and run an advertising program. In addition, you get advertising material and computer software. All of these elements help you succeed. Of course, some franchises are better than others, and your research should help you weed out the worst and find the right match for your talents and expertise.

Support And Training

The franchisor will teach you how to do it all, and the company offers ongoing support to get you through the learning phase. You will get to meet the support staff and become acquainted with the corporate culture before signing any contracts, so you can ensure a copacetic working environment for the long term.

Lots Of Available Information About The Business

The single most important source of information you have about this new business is the experience of franchisees. You will be encouraged to speak to many of the franchisees – as many as it takes for you to fully understand exactly what the business is like. They can tell you how the system has worked for them, if the numbers add up as promised, if the company has been good to work with and whether they are making the kind of money they expected. Remember to expect regional differences.

Franchise Disclosure Document

By federal law, every franchise must disclose a great deal of pertinent information in its FDD. Once you show yourself a serious potential buyer, they will provide you a document written in standard English, no legalize allowed, that has 23 items. The FDD covers everything from the franchisor’s business experience, litigation or bankruptcy history, a complete accounting of all costs you should expect, from startup fees to royalties, restrictions on the sale of the business and a complete list of current and former franchisees.

Higher Success Rate

Franchises generally have a higher success rate than independent businesses. From my experience, we feel we can confidently say our clients can achieve a 90 percent or better success rate, as a result of the research we walk them through. A recent study shows that 91 percent of franchises were still in business after two years, and 85 percent were still in business after five years. Even with all the above items available to reduce risk, you can still get in over your head if you don’t plan for enough capital to get you through the start-up phase to profitability. Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today!

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-5489. 

Want to go Green? You can find a franchise for that, too! 10 Ways to Go Green with a Franchise

Recycle, Reuse and Reduce. Since that iconic environmentalist maxim was coined decades ago, increasing numbers of people have developed an interest in going green and recycling has become big business — which is why so many franchises have popped up to capitalize on this trend.

You can find everything from shops that help people insulate their homes to those that sell alternative energy systems. There are franchises that recycle and refurbish computer equipment as well as those that repair old furniture.

So if you have always wanted to combine your interest in preservation and sustainability with making a good living, start researching green franchises today.

Not only will you get a business that aims to tread lightly on the planet, but you will get a full how-to system for running your business, everything from training to ongoing support.

10 Ways to Go Green with a Franchise

Green Cleaning Services

Everything from maid services to carpet-cleaning services that use only earth-friendly products.

Energy Auditing

These services will check a house’s energy efficiency, whether the walls are well insulated and air is leaking out cracks around windows and doors. You can help homeowners learn how to improve the energy efficiency of their homes.

Alternative Energy and Air Filtration

There are franchises that sell alternative energy options that help people reduce their energy costs as well as their ecological footprint.

Green Restaurants/Organic Food

A growing category, you can find companies that deliver organic food and restaurants that specialize in healthy food and green practices.

Recycle and Refurbish Computer Equipment

There are franchises that help large and small companies recycle their computer equipment. You can also find refurbishing centers that sell used equipment, which keeps perfectly usable computers out of landfills.

Repair Services

Really any repair business that helps us reuse existing products helps us go green. Lots of opportunities exist in this sector.

Restoration

In this era of big weather disasters, such as floods and tornadoes, restoration firms are flourishing to help people salvage their possessions, if not save their homes.

Green Car Washes

Like cleaning services, car washes that use eco-friendly products have been popping up in the franchise sector.

Clothing Resale

Used clothing is big business. There seems no end of people who need to get rid of perfectly good clothes and those that will snap them up just as fast. And franchises have grown to meet this need.

Lawn Services

Lots have been written about the damage done to the environment by pesticides used in lawn care. Find a franchise that specializes in green methods for maintaining a beautiful garden.

Ready to make your dream of becoming an entrepreneur come true?

Get your free evaluation today!

Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a franchise coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-4589.

© Dan Citrenbaum 2020

Is A Franchise Right For You? Take The Quickie Questionnaire

A franchise can offer a perfect second stage for a stagnating career. If you’re ready to take control over your career destiny, you ought to ask yourself if a franchise might be right for you. Not only do you get to be the boss, but a franchise comes with a lot of information that can help you achieve success. This includes a complete set of guidelines to get the business up and running, training and ongoing support, as well as a full breakdown of your upfront costs. If we’ve piqued your interest and you want to learn more, take our quickie questionnaire, which boils down some of the prerequisites of business ownership into bite size digestible nuggets.

Quickie Questionnaire: Should you buy a franchise?

Thinking of buying a franchise? Take this quickie questionnaire first!

Can you follow someone else’s system?

A franchise comes with an operating system, the time-tested method the franchisor has formulated to help its franchisees achieve success. If you have a yearning to invent your own unique operation, don’t buy a franchise.

Can you tolerate risk?

Sometimes the most obvious questions get overlooked. But starting your own business entails risk. So the question becomes do you believe in yourself. Do you think you have the ability to run a profitable business, like the others in that franchise company? This one has to be a yes.

Do you like managing employees or do you prefer to work alone?

Franchises come in all forms, and you can find one where you primarily work alone or one in which you will have to manage employees.

Would your family support your decision to give up your current salary?

When you begin a new business, you probably won’t be drawing a salary for a period, possibly for six months. If this presents a problem for your family, the timing may not be right.

Can you handle more than one type of responsibility?

While you won’t need to do all these things at the same moment, you will have to juggle multiple aspects of running a business, from hiring and firing and managing employees, working with suppliers, securing and maintaining a clientele, advertising, marketing and so on. If this sounds daunting, the writing may be on the wall. Ideally, this sounds exciting as all heck! And if you’re not sure, interviewing franchisees will give you a better handle on their day-to-day activities. As you consider your options for a second stage, you may end up sitting on the fence for a while. While pondering, we recommend you do more research. Look at intriguing possibilities and talk to as many franchisees as possible.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-5489.

Choose a franchise for the long run: Growth opportunities for the 21st century economy

Long Road

While everyone’s always looking for the next big thing, the smart money is on the long term trend — in franchising as much as any other business.

So rather than cruising your neighborhood in an effort to ascertain the types of businesses most in demand, look to the larger economic trends to guide your search for a new business.

While great opportunities abound in the wide world of franchising, you have to research market trends to winnow down your choices to those that work for you and offer the best long-term growth.

The decision on what type of business to invest your hard-earned savings and labor requires as much of your business acumen as you will have to apply in operating your future business.

Plan on spending up to six months or longer on research, beginning with general reading in business and trade magazines then eventually getting specific materials from various franchise companies. Your job is to peruse these, possibly with the assistance of a good franchise coach, then move on to interviewing franchisees who can show you the way or possibly warn you off.

We like two main categories for today’s economic climate: businesses that succeed even in economic downturns and those that capitalize on our new economy.

Businesses resilient during hard times offer conveniences time-strapped families can’t do without or services that cannot be postponed. These include:

Services Always in Demand

Senior Care

As we all know, the Baby Boomers are swelling the ranks of senior citizens, setting a great growth trajectory for senior care. Franchisors galore operate and thrive in this segment.

Companies that retrofit homes for accessibility and child-proofing

Firms like 101 Mobility capitalize on the trend for more older people to stay in their homes well into their very old age. And with Millennials now having babies, you can find good opportunities with firms that child-proof homes.

Property Damage Repair

No matter the rate of unemployment or growth in GDP, natural disasters will continue to occur, and families whose homes have been damaged by fire, flood and hurricane will require clean-up.

Services that capitalize on economic trends

Temp Staffing

In this age of downsizing, many companies now routinely use contract workers and temp staffing project by project.

IT Support

As an integral aspect of 21st business, most small businesses outsource their IT support, and many franchisees have had success fulfilling this need.

Business Coaching

Along the same trend line, as people now have to reinvent their careers on average every three years, a sizable number require assistance to help them determine their next strategic move. If you have read this far, you know what I mean!

Digital Advertising

As the “Mad Men” age of advertising fades into distant memory and social media is now king, lots of established businesses need help in reorienting their advertising strategy toward the digital sphere.

You can find plenty of opportunity in franchising in all these economic sectors. And a franchise coach can help you navigate the crowded field.

Ready to make your dream of becoming an entrepreneur come true?

Get your free evaluation today!

Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a franchise coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-4589.

© Dan Citrenbaum 2015

This guest post is by Dan Citrenbaum, a Franchise Coach and Entrepreneurial Consultant who helps people achieve their dreams as small business owners.  Find Dan at www.EnterpreneurOption.com

6 Easy Steps To Interviewing Your Way To Franchise Success

Deciding to start a new business is a heady time for every budding entrepreneur. As any experienced business owner will tell you, preparation is the key to success. That preparation becomes much easier when you decide to purchase a franchise. You gain a huge upside as a result of the amount of information available to you. Since franchises come with a system time-tested by dozens or even thousands of others, you get a veritable operating manual and can ascertain before you start whether you have the skills and experience to succeed with this business. So, the key question becomes whether this business is right for you. Your most invaluable resource to help you find the answers lies with the network of franchisees who once stood in your shoes. We recommend you interview as many franchisees as you can. You will find a complete list of franchisees in the Franchise Disclosure Document, which franchisors are required by federal law to provide to potential franchisees.

6 Steps To Interviewing Your Way To Franchise Success

If you’ve never conducted an interview, don’t worry. Every good interview follows the same basic steps. Commit these to memory, perhaps ask a friend to help you practice, and begin to explore possible business options for your future.

1. Be Cordial And Gracious

Inquiring minds cannot just ask any question that pops to mind. Remember you are imposing on the franchisee’s time, so when you call, get right to the point, that you are interested in the franchise and are hoping he or she might have a few minutes to talk about his or her experiences. Ask if this is a good time, or when might be a good time to call back.

2. Plan Your Interview

You might want to plan a couple of layers to your interview. Use your initial research of written documents to help plan good questions. First, prepare a few questions that would take no more than 15 minutes of the franchisee’s time. Then, write additional questions you might get to if the franchisee has the time. Ask questions that only this person can answer. Be specific about what this person knows that you cannot get in any prepared written material. For example: How have their experiences been with the franchisor? Did actions live up to promises? Were training and support sufficient? Would they buy the franchise aga

3. Show Respect

You may not like everything the franchisees tell you, but you are after their perspective. So don’t argue, play devil’s advocate or in any way imply their problems are due to their own inadequacies.

4. Listen

The most important time during your interview is when you’re not talking. Try to draw out as much information from the franchisee by asking succinct questions, and then stop talking. Sometimes people need a few moments to clarify their thoughts before responding.

5. Clarify

Even with the best listening skills, you may miss some of what is said. Don’t be shy about asking your source to repeat something or clarify an answer you may not have understood. As most journalism professors will tell you, there’s no such thing as a stupid question. The question you wish you had asked is another thing.

6. Follow Up

As you go through your notes, and something important pops out that you fear you may have misunderstood or gotten wrong in your notes, call back. Most people appreciate conscientious attempts to get it right. Just remember to be respectful of the franchisees’ time. And it never hurts to drop a thank you email after the interview. You might want to keep these lines of communication open for the future.

Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (484) 278-4589.