Tag Archives: franchise opportunities

Five Questions for Your First Contact With a Franchisor

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We found this helpful article from BeTheBoss.ca and wanted to be sure to share it with you all because these tips are so spot on! Check out the 5 helpful tips below to help you prepare for the next step after you’ve found your perfect franchise fit.

What is your mission statement?

The franchisor’s mission statement will help you decide if your values actually align with the brand’s. This also gives the franchise the chance to ensure you understand what the brand is really about and how their principles are brought into each franchise location. Does the brand focus on creating experiences for its customers, or is it one that aims to help clients plan for their futures? Regardless, you want to ensure the franchisor’s values don’t clash with your own as that can make it more difficult for you to be happy or even successful.

What are the financial requirements?

You may have already seen estimates online, but you want to hear this directly from the brand as well. Find out what the franchise fee is and the initial investment range–this is the total amount needed for things like training, build-out (if there is a location), licenses and so on. Ask the franchise what liquid capital and net worth is required for franchisees to qualify; this will allow you to determine whether you would qualify for this franchise.

What type of franchisee are you looking for?

A franchise search is about finding the fit that’s right on both sides, so ensure the brand is right for you and you are right for the brand. Does the franchisor want franchisees with specific experience or skills or just general business sense? To see how well you line up with the brand’s typical franchisee, ask for an ideal franchisee profile and see where you land.

How would the franchise describe the franchisor-franchisee relationship?

Whether you want a brand that is hands-off to a degree or one that provides a lot of support, this question can give you insight into how closely the brand works with its franchisees. Is there ongoing training? Who is the contact person for franchisees at corporate? How often does the brand hear from franchisees? With some insight into this relationship, you’ll have a better idea of what to expect should you decide to go with the brand.

What else should I know?

A handy catch-all question, a good franchise representative should answer this by providing you with some new information or taking a deeper dive into something you previously asked. Not only will you receive additional information, but you may even learn the answers to questions posed by previous franchise candidates.

Franchise Financing – How to Get It

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If you’d like to purchase a franchise, but aren’t sure where to get the financing from, then you will want to read this article. Specifically in this article, we’ll discuss how to raise investment capital, what banks are looking for before they will loan money for a franchise, and alternative resources you can utilize to finance your franchise. After reading this article, your head should be swimming with ideas on how to get franchise financing.

The best way to get financing for your franchise is to have a good credit rating and a solid character. Most franchises will assist someone who they believe can run a business well but lacks the initial startup cash. Oftentimes these franchises have track records for picking successful business owners, so they have networks of investor groups who they can tap into for capital. Sometimes, your best bet for franchise financing is to get help from the franchise itself.

If that isn’t an option, then you need to know how to go about getting a loan. First of all, if you own property, that is your best bet at getting a loan. Otherwise, you might need the help of family and friends to sign on to share the burden by offering assets in exchange. Unless you have had several big loans in the past that you have made good on with your bank, then you’re going to need some assets. Unless your net worth is very substantial, don’t count on getting a simple signature loan.

If your credit is bad but you have a lot of cash on hand, then this works in your favor. My advice to you is to first find a franchisor that banks will be more apt to give money for. Investing in a new franchisor that only has 5 locations is probably not a good way to get financing from banks. If you were to invest in a McDonald’s franchise, I guarantee you’d have banks lining up at your door waiting to give you money. Before planning your business model, you need to take into account the bank’s point of view. They are in the business of giving money that they are 99% sure will be able to pay back the loan. If they have any doubt in their mind that you could go under, they will not give you financing.

Sometimes, if a franchise itself won’t help you with the financing, they will point you to the direction of someone who will. Because franchises want to sell their franchise to make money, they typically create resources that will help you in approaching venture capitalists and other people who are looking to loan money for a better than average return.

In conclusion, your best chance for franchise financing comes either from the franchise itself, the resources they can point you towards, or the loan you can get for the bank. Depending upon your circumstance, if you do it right it shouldn’t be a problem getting a loan from one of these three resources.

How to Research Low Cost Franchises

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There are many franchise opportunities for people with small budgets. A low cost franchise does not necessarily mean a business with low income potential. Trawling through the franchise market, I have discovered that some of the best franchises only need a small initial outlay.

In some cases it is possible to recover the entire franchise fee in the first year of trading. With many of these businesses, you do not need any premises as you can work from home. This greatly reduces overheads and enables you to reach profitability very quickly.

Another very important benefit of low cost franchises is that some of them can be run full time or part time. This is ideal for people who do not have large monthly outlays and only require a small income to supplement their existing business. Just be very careful when analyzing any new business opportunity. If you cannot see a market for the product then it probably does not exist!

One low cost franchise opportunity specializes in cleaning carpets. They use extra powerful industrial vacuum cleaners to remove 80 percent of the dirt and dust in carpets before applying specialist chemicals which dissolves most of the oily and greasy particles that still remain. Their specialist equipment then removes almost all of the fluids used in the cleaning process. This means that your carpet is bone dry within a couple of hours.

Householders benefit because they get their carpets cleaned to a high professional standard at a reasonable cost. This then leads to repeat business possibly every couple of years for the franchisee and his reputation spreads quickly by word of mouth. The franchisee also benefits from professionally created marketing material including leaflets and business cards.

This business also benefits from positive cash flow as the franchisee gets paid for his work on completion and he receives generous term from his suppliers for his cleaning materials. The ideal franchisee for this company is a person who is still relatively strong and does not mind the hard physical work involved.

Another franchise for people with low budgets specialize in bringing single people together. Again this business can be managed from home. The franchisee has to follow a predefined local marketing programs that generates enquiries. This is then followed by a professional consultation so that a suitable match can be found.

This franchise requires people who have decent communication skills and are very presentable. This business is ideal for people who sincerely like to help other people and do not mind networking. The one downfall of this business is that if you do your job properly then you will not get any repeat business although you might get referrals!

Another interesting business opportunity is providing asset finance (lease & hire purchase) to local businesses. Again you do not need expensive premises (and can possibly work from home) but an aptitude for basic arithmetic definitively helps. If you already have many business contacts then this might be right up your street!

This business targets a very specific niche in business and has well proven marketing strategies to help you identify your most lucrative clients. The best factor in this business is that you can generate a lot of repeat business with the same client and if the business is handled correctly then most of your new clients will be generated by referrals.

In this type of business you will most definitely have to be prepared to learn new skills and some cold calling is required. From the point of initial contact to actually generating new business might take months and in some cases years. Patience is a virtue in this business.

My advice to anyone thinking of buying a franchise is:

-Do not just think about the earning potential.

-Find a business that suits your personality and lifestyle.

-Always take professional advice before embarking on a new business.

-Be prepared to “go back to school” and learn new skills.

In short, if you have a small budget, are prepared to learn new skills and choose the right niche, then one of these opportunities could work for you.

David Schwartz of Franchise Clique Announces New Daniel Island Headquarters to Accommodate Increased Growth

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Charleston, SC (May 31, 2018)— Franchise Clique, LLC, a leading franchise recruitment and lead generation company serving the franchise industry, today announced it has moved into new corporate offices at 133 River Landing Drive in Daniel Island’s growing business district to accommodate rapid company growth.

Franchise Clique was founded in 2009 in Charleston, South Carolina. The company offers lead generation and business development services for franchises and businesses of all kinds. It is privately held and boasts that its leadership team has decades of combined experience in lead generation.

Franchise Clique, LLC New Corporate Headquarters

“Going into our tenth year this is a monumental time for Franchise Clique and is the start to large company improvements that have the staff and customers eager to benefit from the unique opportunities this expansion provides,” said Franchise Clique Chief Executive Officer David Schwartz. “Franchise Clique’s new office space provides an updated and healthier work environment for existing and incoming employees while also leaving room for even greater company growth in the future.”

The new space reflects Franchise Clique’s proactive company goals that are meant to bring customers top-notch service while maintaining a high level of efficiency.  The new location is near Daniel Island’s public dock and walking/biking trails which are walking distance from multiple restaurants and shops.  The new office provides each employee with a personal office space which is a drastic improvement from the cubicle-style space from before.

Diversifying the Businesses You Own

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Many feel that if managed properly, owning a diverse set of businesses can help insulate against business peaks and troughs in the market. Many wealth planners will generally present diversification models to allow the purchase of multiple asset classes such as stocks, bonds, and mutual funds. Diversification in the franchise industry is different. Franchisees can diversify within a particular industry by acquiring different brands.  Diversifying within the same industry, such as the buying several different restaurant brands, still allows the franchisee to apply the same basic infrastructure to their business.

This strategy of franchising helps spread the risk from a franchisee’s perspective. If the demography of existing brands and new brands are vastly different, there becomes an opportunity to cross-market both products and knowledge. Aziz Hashim, the president and CEO of NRD Holdings, LLC, highlights a smart way to diversify in his recent piece in Franchising World about this topic, stating that “The most effective way to execute a diversification strategy is to identify opportunities in new sectors where the operational complexity is generally lower than the existing operations so as to not dilute the franchisee’s time and focus, where at least some existing infrastructure can be leveraged and ideally where there are natural synergies through complementary service offerings and similar demographic.” Complementary service offerings can play a key role in expanding your opportunities and create growth.

Do you own a diverse set of businesses? We would love to hear feedback from you!

Marketing to the “20-Somethings” of the World

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I have been reading recently about a hot topic in marketing and advertising – targeting the Millennial generation. Who is the Millennial generation, you may ask? While there has been some debate over when the generation starts and stops, generally, it is considered those born between 1977 and 1995. Larger than the baby boomers’ 76 million, there are an estimated 80 million Millennials in this group of 18 to 34 year olds.

So from a marketing perspective, how do we target this generation of people ranging from college students to young parents? First off, we must recognize that most Millennials are technology dependent. There are several tips that Susan Glosby from FIT4MOM offered in this past month’s issue of Franchising World magazine offers some advice.

1. Offer ease of access to your information

Most Millennials use their smartphones and other similar electronic devices to access webpages. Make sure your website is mobile-friendly and is easy to read for those accessing info via a smartphone. Additionally, make sure you have all the information people are seeking on your site – contact information, sales information, costs of goods – if they can’t find it quickly, they may take their business elsewhere.

2. A sense of involvement and purpose

Millennials are said to care about the purpose and identity of the brands they support more than generations of the past. What does your brand do to make the world a better place? This generation wants to know. Do you promote local volunteering with your franchisees and employees? Do you help educate your community? Do you donate to certain causes as a company? They want to know those things, and are more likely to be a repeat customer if your ideals are in line with their own.

3. Peer value

Use social media to provide peer endorsements! Millennials have the sense that when using technology, they are never truly alone – their peers are always with them. Having Instagram tags, a Facebook page, a twitter account, allows this generation to easily do some of the advertising for you among their friends.

 

What other ways can we appeal to our 20-somethings? Leave your marketing tips in the comments below!

Franchise Profile: Baskin Robbins

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Are you looking for a cool franchising opportunity?

Named “#1 Ice Cream & Frozen Treat Franchise” by Entrepreneur Magazine, Baskin-Robbins is the world’s largest chain of ice cream shops. Baskin Robbins has developed over the years to  offer ice cream and frozen desserts with creative cones, unique cakes, specialty desserts, frozen beverages and take-home treats. They also offer BRight Choices®, a line of better-for-you options including fat-free, dairy-free, no sugar added and light ice creams.

Reasons to Invest

  • Simplistic operations with convenient operating hours
  • Multiple revenue streams – in-store, take home, cakes and beverages
  • 95% brand awareness with a multi-million dollar national advertising program
  • Flexible real estate options
  • First-rate product innovation and new product pipeline
  • World-class training and support

Baskin Robbins can be opened in a traditional storefront with a floor plan usually between 800-1,500 square feet, or in non-traditional venues such as gas and convenient stores, universities, airports, mall food courts, and stadiums. To learn more about Baskin Robbins and available franchising opportunities, check out Baskin Robbins over on Franchise Clique.

Get LinkedIn: How Franchise Professionals Should Be Using The Networking Site

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This month I have been paying a closer attention to the way in which franchise professionals utilize social media platforms. Specifically this week, I wanted to take a closer look at how LinkedIn is being used in the franchise industry. LinkedIn is a hot topic in the social networking realm right now. Everyone wants to know how to best leverage LinkedIn for their various needs. Franchisors, franchisees, and suppliers all see opportunity in the networking site, but many question how exactly they can use the platform to their benefit.

With a database of more than 238 million individuals, LinkedIn provides a great pool of prospective franchisees and customers. How can franchise professionals tap into this resource? They can start with their profile page. A new article in Franchising World’s November issue gives some tips about how you should go about revamping your page. First, look at your page from an outsider’s view. Does it read like a resume? If you’re seeking employment, that is one thing. But if you are not, it may be time to rewrite your profile to target whichever prospect or customer or prospective employee that you would like to engage.  People are using LinkedIn to better know you. You must actively choose a message: what do you want people to know about you and your company?

The article says that as you read through your LinkedIn profile, you must ask yourself whether your profile answers these questions that the reader may have:

–          Should I pay this person money?

–          Can I trust this person?

–          Can this person help me with my objectives (franchise ownership, employment, doing business)?

–          What benefits does this person and his company provide?

–          Does this person have the ability to help me make a significant decision?

–          Does this person look trustworthy and credible?

 

What is all really comes down to is making your profile a welcome mat to your company. You want to seem approachable, communicable and transparent. People want to do business with people they like and feel at ease with. Let your LinkedIn profile be a peak into your company’s missions and future goals. What LinkedIn tips do you have for fellow franchise professionals?

A Conversation with Luke from Mighty Kicks Soccer: A Franchise Investment Worth Checking Out

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This past week I spoke with Luke Vercollone, the president and founder of Mighty Kicks Soccer, a mobile soccer program designed to build motor skills, life skills, self-confidence and basic soccer techniques to children ages 2-7. The program brings soccer to where the children are, whether it is a childcare facility during the day, an after-school program at an elementary school, or other various locations in the community for home-schooled children and the general public. Mighty Kicks Soccer is unique in introducing sports and concepts of teamwork to children at a very young, impressionable age – and the coolest part? It’s a franchise.

Following Luke’s graduation from Seton Hall University (where he majored in Sports Management), he was drafted into the MLS and has been playing professional soccer since 2004. He is an NSCAA certified coach, with his USSF National B License and over 17 years of coaching experience. It was his coaching experience at other programs that inspired Luke to develop his own program.

I asked him how long after he began Mighty Kicks did he realize it had the capability to be franchised. Luke said “It wasn’t until I started the program in 2008 that I realized the program had potential to become a franchise. It was early in the first season; I immediately saw the popularity of Mighty Kicks and I realized there was a demand for this type of program and it was profitable.”

He went on to explain the unique aspect of this franchise, “Soccer is extremely popular, many other soccer programs play evenings and weekends, and we don’t compete with those programs. Mighty Kicks brings the program to the children. It’s, convenient, it’s economical, and it’s unique.” Mighty Kicks primarily focuses on preschool-aged children, at their preschools, where children can partake in the enrichment program on site during school hours.

Mighty Kicks Soccer is highly successful in developing many skills, including balance, agility, coordination, teamwork and good sportsmanship. Luke says “Our goal is to give young children an overall positive experience with sports, and specifically soccer. If they’re having fun, they’re learning. If they are enjoying soccer, they are more likely to play it in the future.” Even beyond the basic skills Mighty Kicks Soccer helps children develop, he says “We are indirectly teaching them life skills. We provide them with a positive experience, and keep them active.”

After speaking to Luke, I was very interested in checking out the benefits of franchising with Mighty Kicks Soccer. There are many: including a high profit margin with little overhead to maintain, flexible and family friends work hours, tax benefits, saved time (not wasted on the learning curve), as well as the enjoyable and rewarding work that makes a difference to children in the community. There are many other benefits one can receive when franchising with Mighty Kicks Soccer and you can check the rest of them out here.

And Luke’s message to those interested in franchising? “I think we have the greatest value.  As a new franchise, we are eager to bring on quality franchisees. If a candidate is interested in sports, in kids, and in business, this is a great investment.” Luke says this is an “Unbeatable value with a great investment opportunity.” I most certainly agree.

Are You Using Environmentally Responsible Pest Control Services?

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Are You Using Environmentally Responsible Pest Control Services?

It is not breaking news that many of the products that are used for pest control in our homes are toxic to both humans and pets. Most people are willing to compromise the health of them and their family members for pest elimination when in actuality there are health conscious and eco-friendly ways to rid their home of unwanted creatures. LadyBug Eco-Friendly Pest Control does just that. The company has over 23 years of pest control experience and use products that are entirely National Organic Program (NOP) compliant.

The main product that LadyBug Eco-Friendly Pest Control uses is called Diatomaceous Earth which, once refined, resembles talcum powder. The powder is made from one-cell plant organisms extracted from the bottom of large bodies of fresh water. This natural ingredient kills pests like roaches, ants, crickets, spiders and scorpions without bringing harmful chemicals inside of your home.

Is there an environmentally responsible pest control service in your area?

Read on if you are interested in this eco-friendly franchise opportunity!

 

Lady Bug Eco-Friendly Pest Control  Franchise Specifics:

Benefits Of Unit Ownership With Lady Bug

  • Life-Style Opportunity (M-F 9 to 5)
  • LOW Unit Investment Of $30,000 Per Unit, 2nd ½ price
  • Fast ROI With HIGH Net Return
  • 1 Truck/Route With 300 Monthly Customers =$150,000
  • A Unit Can Have Multiple Truck Routes!
  • Pest Control Operation – Repeat Monthly Revenue
  • All Training At Corporate Office For Unit Owners

Benefits Of A Regional Developer

  • Multiple Revenue Streams
  • Revenue From Their Own Unit
  • Unit included In The RD price
  • Revenue from Selling Units & Collecting Franchise Fees
  • Developing Territories & Selling Customers to Units
  • Receiving Royalty Stream
  • All Training at Corporate Office For RD’s

Unit Investment

  • $30k Franchise Fee
  • Capital $40,000+
  • 70k Total Invest
  • 7-10% Royalty
  • 2% Advertising Fund

Unit Numbers

  • $150,000 Revenue Per Truck/Route (300 customers)
  • 1 Unit Can Have Multiple Trucks/Routes
  • Avg. Pest Control Service $45 rate
  • Up To 50% Net Profit

Mobility: A Time-Tested Specialty and an Alternative Entrance into the Senior Market

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Headquartered in Wilmington, North Carolina, and sweeping its way across America, 101 Mobility is one of the nation’s largest providers of mobility solutions and one of the most exciting alternative opportunities for entrepreneurs seeking out their niche in the senior boom.

101 Mobility sells, installs, rents, and services a complete line of home health, mobility, and accessibility products for the elderly and disabled. From stair, porch, pool, and auto lifts, to ramps, bridges and walkways to power scooters, safety baths, and more, they service residential and commercial clients alike and are the top dealer of many of their products’ manufacturers.

In an industry historically predominated by “mom and pop” shops and anonymous online firms, seniors and their caretakers often don’t know who to trust for professional and reliable mobility products and aren’t aware of the broad variety of mobility solutions available. As one of the first nationally franchised organizations of its kind, 101 Mobility has been leading this specialty into the 21st century.

101 Mobility’s is a scalable business model designed to grow with your operation, and can be launched in 90 days or less. Their franchisees receive comprehensive training, protected territories, established relationships with equipment vendors and core national accounts, marketing assistance, and their unparalleled, all-inclusive “Mobilink” business operating system.

101 Mobility is on the move and is seeking motivated entrepreneurs who can help them reach their national goals. If you have strong sales and marketing skills and are shopping for solid alternative options in the senior market, consider the time-tested specialty of “mobility” and contact their franchise development team today.

To learn more about this up-and-coming franchise opportunity, please visit: http://www.franchiseclique.com/franchise/101-Mobility.

Franchise Profile: The Grout Medic

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The Grout Medic, in response to exploding customer demand, was founded under the commitment that their company could provide customers a viable, long term, cost effective, alternative to replacing tile and grout.

 

The Grout Medic is the leading grout & tile restoration franchise with over 40 locations across the US. Their franchise owners come from all walks of life, but they all have the same common goals; to gain control over their future and provide a better lifestyle and opportunity for themselves and their families.

 

At The Grout Medic™ their goal is simple – To create an opportunity to allow motivated, hardworking, business-minded individuals a low cost, high margin path to success. In doing so, The Grout Medic™ has become a leading grout and tile repair service with a cost effective, highly profitable, operating system offering a valuable service to their customers with very little competition. The Company’s foundation is based on solid business principles, extensive training and post operating support and, most of all, their experienced and dedicated people.

 

 

The Grout Medic Difference:
The Grout Medic has an industry leading approach to grout and tile restoration which has been one of the major factors in its success. They use exclusive equipment including their vapor machine and electric grout removal tools, as well as techniques and exclusive product lines to position The Grout Medic as the leader in the industry. The Grout Medic also employs a number of “green” practices in line with the current consumer demand.

 

To find out more about this amazing franchise opportunity, please visit the following link: http://www.franchiseclique.com/franchise/The-Grout-Medic. An online form may also be submitted for more detailed information.