Author: Kim Jackson

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 2024

First, there is no such thing as the perfect franchise for everyone. Since franchises come in all sizes and shapes, as do potential franchisees, the goal is to make the perfect match — choose the perfect franchise for you. And, frankly, a franchise may not be suitable for everyone. So how do you know? You have to do your research. We can help you get started, but it is worth your while to consult as many experts as possible along the way, including a franchise coach, who can help you narrow down your options to those with the best track record. One of the very best things about buying a franchise is you have the ability to know everything you need to know before you sign on any dotted line — unlike a business you start from scratch. With a franchise, you know exactly what it takes to operate profitably, how many employees to hire, how they should be trained, what equipment is necessary, and you get an advertising and marketing campaign, already designed and ready to go. Your upfront research is probably the most important aspect of the process. Not that you don’t have to work hard to get it all going, but if you make a good match, select a franchise that works well for your own skills and interests, the odds of success go way up.www.workitdaily.com RSS3 Stories You Need To Share In 2024 To Impress Recruiters & Hiring Managers

What To Know To Make The Right Selection

What do you want, exactly?

As perhaps the most difficult question of the bunch, you should get a fix on your goals, your constraints and your personal aspirations. You should know how many hours you want to work. Are days or nights preferable? Do you want to work part time? Do you want employees? Do you absolutely hate sales and so know you won’t do it? Do you like working with people? Do you want to work from home or with others? Do you want a one-person operation or do you eventually want a chain of shops? There’s a franchise for all of these preferences. Deciding what you want ahead of time will save you a lot of time down the road.

What is the franchisor’s business history?

Once you narrow down your franchise search to just a few, a search online should uncover any unsavory newspaper coverage, such as franchisees going out of business at an alarming rate. But to get a more accurate picture of the franchise all in one place, you can find what you need in the franchise disclosure document (FDD), which all franchise companies are required by federal law to disclose to potential franchisees. Get your hands on this document and read it thoroughly!

How much does it cost?

All your upfront costs will be listed in the FDD, from the franchise fee, inventory software, build-out costs, initial training and ongoing marketing and advertising. See Items 5-7.

Do I have enough money?

We highly recommend you consult an accountant to go over whether you have enough to cover your costs to operate. You should plan on a full year to get your business to start operating profitably. You may get there sooner, but it’s safer to err on the conservative side. As you likely know, under-capitalization is one of the leading causes of business failure.

Would franchisees buy this franchise again if they had to do it all over again?

The only way to learn the answer to this vital question is to get out there and talk to franchisees. Visit some nearby and call others by phone. Be respectful of their time, and they’re likely to reward you with invaluable details about their own experiences. You can find a full list of current and former franchisees in the FDD. Only by doing your due diligence can you make a good match and find the perfect franchise for you — one that will allow you to advance your career for many years to come.

Who isn’t sick of the incessant slog of working for a big corporation under the looming shadow of global economic pressure that sends American jobs and whole companies overseas. When you add in an unappreciative boss and workplace malaise, it’s only natural to start dreaming about starting your own business.

It’s important to learn how to finance your own business. Related: Want To Work For Yourself? Learn How To Finance Your Own Business The questions add up fast — How do I even start? Don’t I need a lot of money? — and you go back to your desk and spin on that hamster wheel a little longer. Wonder no more. Starting your own business is easier than you think. A whole growing sector of our economy proves the point, as people continue to start franchises at a rising rate. Folks at mid-career represent the largest cohort of entrepreneurs in the U.S. economy, which isn’t really surprising since they have the experience and skills to be successful. The best thing about choosing a franchise to jumpstart your career is you can find out everything you need to know to succeed before signing any contracts. With the assistance of a franchise coach — whose services are free — you can learn how to investigate the market to make the right match for your skills, experience and interests. So the big question remaining is how to finance your new business. Not all franchise businesses require the type of large outlays typical of fast food restaurants like McDonald’s or Five Guys. Lots of franchises in the area of personal and business services require less than $150,000 and can offer a six-figure income. Many excellent earnings opportunities are available for a total investment of under $100,000! Among the most popular ways to finance your new business is to tap into your retirement funds. Think of it as investing in yourself. Just as you would invest a 401K in other people’s company, i.e. the stock market, you would instead invest in your own business, and the profits would roll right back into the fund. Basically the way it works is the Employee Retirement Income Security Act of 1974 allows people to roll over a portion or all of their 401K or IRA into a new 401K profit-sharing plan sponsored by your new business entity, which buys stock in the new corporation without penalty or paying additional tax. While you do put your retirement savings is at risk, you’re betting on your business acumen. The question is do you think you’re a good risk? If you believe you have the skills and experience to succeed then the risk is low when you buy a franchise with a good track record. If you’re not sure you should invest your own money in yourself, you might want to reconsider starting a business altogether. Of course, you might be able to finance the start-up cost with a combination of savings, and a home equity loan. A big advantage of tapping into your own savings is you don’t need to put other collateral at risk. The goal is to take every step possible to minimize your risk. This includes conducting a thorough due diligence of the franchise company, including checking out its record of success and how well it trains and supports its new franchisees. If you believe you have what it takes to run a business and you connect with a great operation, your risk may actually fall lower than remaining with a company whose loyalty is to shareholders, not you.

espite all the beautiful pictures on Instagram, not everyone is meant to be an entrepreneur. Entrepreneurship can lead to a life of freedom, and benefit the people a business serves. Or, it can be a nightmare if someone isn’t cut out for entrepreneurship. It’s not a one-size-fits-all choice for everyone.

I took the opportunity to become an entrepreneur at 19 years old. No one in my life at that point was an entrepreneur, so I took the leap without any firsthand knowledge or mentors to guide me. The business grew to half-a-million dollars a year, but I ran it into the ground. I didn’t know what I was doing and wasn’t ready. I’m now 35. My second business — a lifestyle business — allowed me to clear up the debt from the first business so I was able to sell it.

Today, I have a business that allows me to write, speak all over the world, consult and coach. I love what I do because I was ready for this business. Before you make the leap into entrepreneurship, you need some certainty. Life isn’t a movie where things magically work out. You can’t be 100 percent certain of anything in life, but there are six signs important signs that you may not be ready or cut out for entrepreneurship.

1. You aren’t self-motivated.

Entrepreneurship is lonely at times but you only get out of it what you put in. The ability get things done working alone is important. You have to be self-motivated to complete tasks, especially when you don’t feel like it.

If you are the type of person who needs a boss telling you what’s next, you are not ready.

2. You haven’t established the foundation.

Before you consider leaving that steady paycheck, you should have a foundation established. This foundation includes a generous emergency fund—you never know when things won’t work out as planned. It should also include a strong financial base. Your debt shouldn’t be out of control and you should have enough currently to pay your bills comfortable. Income from entrepreneurship can be sporadic and you want to prepare the best you can.

3. You get flustered under pressure.

The stress of a business will be overwhelming at times. You have to juggle running the business while dealing with pressure from many angles. If you crumble under pressure and stress, think twice about entrepreneurship.

4. You haven’t done enough research.

Whatever business you want to start will require research. Before you take the first steps you should become an expert on what it will take to be profitable. The Internet and social media provide an opportunity to do some efficient research on building a profitable business. Take advantage.

Just because you don’t like sales doesn’t mean you can’t own a business. That’s right. Contrary to popular belief, you can be a successful entrepreneur even if your strength doesn’t happen to be cold calling and glad-handing. If you visit a McDonalds the owner probably is not trying to close you on buying a burger. And the same holds true for many other types of businesses.

Opportunities abound with businesses whose customers are drawn in by an effective marketing campaign, a great location, or strong advertising. And you don’t even have to be an expert in a particular business to get going. All you need is to connect with a good franchise operation that matches your interests and skills, and you can get all the marketing and advertising expertise to help you get going. The trick is to capitalize on your strengths and let the franchisor fill in the gaps. Some large franchise organizations rely on national advertising and marketing programs to generate business. In addition, customers often actively seek out a conveniently located operation, often without realizing it’s an independently owned franchise. Just to give you a taste, here is a small sample of franchise types that fit these categories:

• Electronics sales and repair
• Fitness and Gyms
• Sandwich shops
• Hair Salons
• Residential painting and maintenance
• Pack and Ship businesses
• Massage therapy studios
• Academic tutoring

The trick is to make a good match with a franchise that has an established record of working to develop new franchisees into successful and profitable businesses. That’s where working with a franchise coach can help you use your time most efficiently. Let a franchise coach direct you to operations that have the best time-tested systems and a solid track record. Best of all their services are free since they’re paid by the franchisor. You would then be responsible for talking to as many franchisees as possible. Use their experiences and advice to help you determine if an operation is, in fact, a good match for you. The franchise coach can also help you with pointers on the essential due diligence you will need.

About the author

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.

Franchising is big business that keeps getting bigger, and there’s lots of money to be made — that is if you know where to look. The trick is to hitch your wagon to the fastest, strongest horse!

That means you have to screen out less than ideal businesses to find the right one with the sure-fire system.

Most of the information you would need is available either in the Franchise Disclosure Document (FDD), which all franchisors are required by federal law to disclose to potential franchisees, or through the interviews you should do as part of your due diligence.

So whatever you do, don’t sign any contracts based on superficial knowledge. Your research should go deep and should include advice from the experts.

What Everyone Should Know About a Franchise before Signing a Contract

Litigation History

If a franchisor has been the object of numerous lawsuits from disgruntled franchisees, walk the other way. This history is easily discovered in Item 3 of the FDD. A simple Google search might dredge up more detail, but remember, just because you read it online doesn’t make it true!

Track Record

Ideally, the franchise you choose should have plenty of franchisees operating successfully for a sufficient period of time. They are the folks, after all, who will be perfecting the franchise system and helping you succeed with your business. Look at the list of outlets, Item 20, in the FDD. Where are they and when were they established?

All Upfront fees

These would include an initial franchise fee, and costs to start up the operation, marketing fees, the cost to buy any equipment you need, build out a location, hire employees, and sign a lease. You also want to factor in the cost to consult an attorney and an accountant. If the numbers appear unaffordable, you shouldn’t sign because one of the biggest causes of business failure is undercapitalization. All costs are listed in the FDD, Items 5-7.

A Franchisee’s Obligations

If you don’t agree with all the expectations for how you must operate, this business is not for you. Find this information in Item 9.

Renewal and Termination Procedures

The franchisor is also required to detail how a franchise can be terminated or ownership transferred or renewed. Know these details upfront, because there will come a time when you want to sell either to retire with your hard-earned wealth or for a tidy profit. Advice from a franchise attorney is well worth the cost.

Why franchisees have left the system

With the list of outlets in the FDD (Item 20) you also get contacts for franchisees who have left the system in the last three years. Call them and find out why. If you learn about a pattern of neglect you might want to back away. Just remember, sometimes the fault lies with the franchisee, and don’t just take one person’s word.

What current franchisees say about the franchisor

Interview current franchisees. What works for them? Are they making money? Are they happy with the business? Would they make the purchase again?

While your research may take some time, and expert advice may add some expense, the payoff is in choosing a great franchise that gives you the life and the living you always wished for and that works for you in the long run.

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 2024