I Know What You Want

privacy fence

 

Not only do I know what you want,  I understand why you want it.

In times of high unemployment especially, lots of people want what you want. But, that “wanting” goes away for most of them when they get a new job.

You see, most people feel in their heart that working for someone else provides them with that one thing we all need, in some form or another; security.

But, if you believe that a job provides security, you haven’t been keeping up on things. Where have you been?

 

Newsflash; the only time that a job provides security is when you have one.

 

Do you agree? Or, have you had to find out the hard way, because you’ve been downsized, rightsized, wrongsized, or just plain fired, recently, or in the past?

My upcoming franchise book, Become a Franchise Owner! is about getting to a more secure place…by using a long-term strategy. As you’ll learn when you read it, (Fall 2011) when you Become a Franchise Owner! the payback can take awhile, but it can be worth it. In lots of ways.

I know you want some security. I also know that franchise ownership, if done correctly, can provide it for you.

In addition to having a feeling of security, (that only small business ownership can provide) there are several other important and even popular reasons that people choose to become franchise owners.  And yes, I know those too.

If you’re at all interested in franchise ownership, heck any type of business ownership, you’ll really want to read my series on, “Popular Reasons for Buying a Franchise.”

I’d love to hear what you’re reasons are…or were.


Why is This Huge Financial Services Brand Now Offering Franchise Opportunities?

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Frankly, it’s so confusing, I had to read the post twice. The very-well branded Charles Schwab financial services empire has decided to take a shot (invest) in some franchise development efforts, but I’m not really sure why.

Don’t get me wrong; I’m all for creating opportunities for people to become franchisees, so that they have a shot at the American Dream. In the case of Schwab though, it seems like the people they’re trying to recruit to become Schwab franchisees are already on their way to doing so, albiet under a corporate structure.

According to a recent post by Investment News, Schwab plans to split revenue fifty-fifty with established franchisees. The question posed by the writer of the post is a good one. In my own words, it’s this; Why would someone who’s running a financial services office already, and who’s not paying any overhead, want to pay an up-front franchise fee, split their revenue fifty-fifty, and pay for things like rent and salaries?

I find it strange that a company with a seemingly good reputation in the retail investment category would be trying to sell an investment which sounds to me like one with a really low return.

Maybe I’m missing something. Look at the Schwab franchise brochure 

If I happened to be an independent investment professional, the thought of having the Schwab name behind me would be very attractive.

But, for a fifty-fifty split, an upfront franchise fee, and high monthly operating expenses?

If you, or someone you know is contemplating the purchase of a franchise, I offer brain-picking services, which in this case, may be needed…

Paychex Payroll Services: Sign up Today!

 

 

Ben & Jerry's Ice Cream Presents Red Velvet Cake Ice Cream!

Ben & Jerry's Red Velvet Cake

According to R & D Chief Leo Aquino, the new summertime ice cream tastes just like what you’d expect a classic Ben & Jerry’s flavor would taste like.” He added that  ”The combination of chunks, the velvety cream cheese swirls, along with the sweet and berry nuances makes it a perfect summer flavor.”

(I wonder how one can apply for the R & D job over at Ben & Jerry’s franchise headquarters.)

In case you were wondering, Red Velvet cake is my favorite cake. Period. Just the thought of 1/2 inch thick cream cheese frosting is enough to send me right over the edge.

Did you know that it’s National Ice Cream Month? I didn’t either, but I guess it is!

There just happens to be a Ben & Jerry’s located less than a mile away from…. The Franchise Kingdom.

I think that I’ll have one of my Royal Subjects grab a pint or two.

While I’m doing that, go over to www.franchising.com and find out what the other 4 new flavors for summer are…..

As for me, I don’t really care. I have all the information I need.


This Guest-Post About Franchise Resources Includes Some Serious Sucking Up

 

the solo biz coach!

(This is a guest post from Fred Leo, a business coach whose home on the Internet is SoloBizCoach.com)

One of the fastest ways to become your own boss is to buy a franchise, but finding the franchise that is right for you (and the right information) can be a tough task. There are so many franchises and business opportunities that it can become overwhelming. Well, here are some of the best resources that I have found to help aspiring franchisees.

1. California Electronic Access to Securities Information Database (Cal-EASI) – Before a franchisor can offer its franchise to buyers in the United States they need to file Franchise Disclosure Document with the Federal Trade Commission and in each state where they are intending to offer their franchise for sale. One state that makes these filings available for download online is the State of California at its Cal-EASI Database. Using this database you can find any franchise disclosure documents filed in California.

2. SBA Consumer Guide to Buying a Franchise – The SBA’s mission is to help Americans build and grow small businesses. Franchises are a very important segment of the American small business community. The SBA Consumer Guide to Buying a Franchise will help you to understand what you need to know about franchising before you purchase, how to select a franchise, and how to invest in a franchise.

3. 48Days.net – 48Days.net is a community for anyone trying to find work they love. This is my favorite community on the Internet. Almost all of the content on this site is created by the community members (over 6,000 members I think). The blogs, groups and discussion forums have some of the best discussion about self-employment.

4. SCORE.org – SCORE is an awesome resource for any aspiring business owner, not just franchisees. But, since it is such a great resource, I needed to include it here too. SCORE is a volunteer organization dedicated to helping entrepreneurs start, grow and succeed in business. There are so many valuable resources at score.org, but I would like to highlight one in particular – mentoring. The volunteers at SCORE (over 13,000) will meet with you for one-on-one consulting. This is an excellent resource for anyone thinking about buying a franchise.

5. Joel Libava, the Franchise King® – While some of you might think I am just sucking up, the site you’re on now is an invaluable resource for aspiring franchisees. Start by checking out these must-reads. Too often we only read the latest blog posts of our favorite bloggers. But, don’t miss out on the archived articles. There’s gold in them hills. After you have read through all of Joel’s archives, watch one of Joel’s better videos for franchise buyers.

I hope that these online resources help you to find the franchise that is right for you. That is the key. You need to find a business that fits your interests, strengths, and passions. When you find that business, you have hit gold.


(Fred Leo helps aspiring entrepreneurs create awesome businesses. He has over ten years experience as a business attorney, and he has built two successful online businesses. If you’d like to learn about Fred’s coaching, visit SoloBizCoach.com.)


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Is a Part-Time Business in Your Future?

 

Wouldn’t it be nice to have some part-time income coming in from a part-time business? Of course it would.

The real question is this; can it be done?

Can you find a legitimate franchise opportunity that only requires a few hours a week to run? And, if you do find an opportunity to own your own part-time business, can you make enough money for it to be worth your up-front investment, and of course, your time?

Now, it’s not realistic to think that you’ll be able to buy a restaurant franchise and work in it part-time. The exception would be if you purchase something big like an area development opportunity. In that case, you’d probably work in the actual restaurant early on, but then you’re role would be one of finding new franchisees and locations. It still wouldn’t be part-time, though.

You could invest in a top multi-unit franchise, and maybe even keep your job while things ramp up. It’s definitely possible, because in certain franchises, you’d have a manager in place, running the show for you. But, again, it’s not part-time, because you’re working at your full-time job. Eventually though, it could become semi-part-time.

That sure sounds like the perfect franchise situation, doesn’t it? Unfortunately, it’s just not realistic for everyone that’s looking for a franchise to own. Multi-unit opportunities usually have an investment that’s on the hefty side.

There’s one alternative to part-time franchises, and maybe it’s one that you can explore. What if there was a franchise business that offered a lot of flexibility? Would that be appealing to you?

yes and no web buttons

Lots of prospective franchise owners that I consult with bring up flexibility as one of the things they’re looking for in an opportunity. There are franchises around that offer lots of flexibility. Would you like to see one?

A Flexible Franchise Business 

 

 


Protect Your Privacy

More Trouble at the Troubled Quiznos Franchise Chain

 

The Quiznos located down the street from us was open for about a year and a half, then all of a sudden it closed. Then it opened back up for about 8 months or so.

Then it closed again. 

Then it opened for about 3 months. Now it’s closed. Being an ex-franchisee of Quiznos can’t be too enjoyable.

I’ve written about how things have been completely dysfunctional at the Denver headquarters of Quiznos Restaurants.

I’m sure that some of the ex-franchisees of the Quiznos Restaurant franchise had no idea what they were getting into. Now, I’m not going to get all crazy here and talk about the fact that these ex-Quiznos franchisees did a horrible job researching their franchises. Obviously, they didn’t know the proper franchise research steps. They couldn’t have talked to that many Quiznos franchise owners.  Or, maybe they did, but still invested their $175,000.

Well, things just aren’t getting better for this submarine sandwich franchise.

According to The Wall Street Journal, Quiznos just hired the law firm of Paul, Weiss, Rifkind, Wharton & Garrison along with investment bank Moelis & Co. to negotiate with creditors on how to address Quiznos debt load, which may exceed $850 million.

So, what happened? What caused this once fast-growing food franchise to become one of the franchise industry’s biggest train wrecks? What did the management team in Denver do to rile their franchisees up so much, that some of them ended up filing a class-action lawsuit. Read about the $206 million

It may not be over for this once hot franchise opportunity; only time will tell.

I really feel bad for the franchisees that have gone out of business. Maybe they’ll share their stories, so that other would-be franchise owners can learn from their mistakes.

Heck, maybe even the guy that put  Quiznos on the map, Rick Schaden, will share his mistakes with the world. It wouldn’t hurt.

Stories like this make me realize that prospective franchise owners really need to get a lot more educated about franchising, including how to choose franchises, and how to do their franchise research.

Maybe I should write a book.

Become a Franchise Owner!: The Start-Up Guide to Lowering Risk, Making Money, and Owning What you Do

Be in My Franchise Book

book launch

(Are they talking about us?)

 

Do you have a 1st Class website or blog that’s focused on franchising, entrepreneurship, finance-lending, small business issues, marketing/pr, or copywriting? If so, here’s your chance to get some ink!

I’m looking to put together a 1st-Class resource section for my soon-to-be-published book,  Become a Franchise Owner! The Start-Up Guide to Lowering Risk, Making Money, and Owning What You Do.

Book Announcement


The time is now, if you want to be included in it.

I’m writing this book for a few reasons;

1. Book Publishing company John Wiley & Sons approached to do one

2. It’s been one of my long-term goals

3. I want to help as many folks as possible become franchise owners

4. I want to protect franchise buyers

5. I want to help franchisors

6. I want to change the franchise world

 

All you have to do is give me a “Like” on this new Facebook Page I created for my book, and give me a reason that you should be included as a resource in my franchise book-along with a link to your website or blog.

Are you ready for prime-time?

Is what you provide up to snuff?

I’m really picky. Show me what you got.

In addition, I’d love some help putting this small business/franchise resource list together on a Word document. If you would like to jump-in, you’ll receive full credit for doing so in the book. Just drop me an email. (My contact information is on the lower sidebar of this page.)

Of course, following me on Twitter wouldn’t hurt :)

@FranchiseKing

and

@FranBizPlans

Franchise PR Lesson; How To Ruin Your Less Than Stellar Reputation Even More

A recent press release announcing a “$7.6 million Franchise Giveaway” by ActionCoach, formerly known as Action International, is causing me to have major neck pain.

I mean it; whenever I get really stressed-out over something….really angry…the muscles located in the back of my neck do the herky-jerky.  (As I write this, my wife is being kind enough to bring my Shiatsu Turbo-Massage thingy up to my nicely-equipped home office. ) Thanks, Jeannine!

the franchise king and his Shiatsu massager

(Notice the Shiatsu Massager?)

So, I’m reading this press release, and the first thought I had was; how dare they

How can this franchisor, (in good conscience) announce this?

ActionCOACH, the world’s number one business and executive coaching company, has launched a program that will provide business opportunities to 100 military veterans, through its Free Franchise for the Forces program, which will give away $7.6 million in free franchises to 100 eligible veterans in select U.S. states.”

Now, my neck isn’t getting all twisted up because ActionInternational is giving away 100 free franchises to veterans. I’m angrily writing this post because the franchise salespeople at ActionInternational will pretty much have nothing to do.

That’s because, for the most part, military veterans, especially the ones who will be soon coming back home from dreamy places like the Iraqi desert, and the ultra-modern tribal communities of Afghanistan, will have;

A. No money

B. No executive-level sales skills

ActionInternational is taking care of the $70,000+ in start-up costs, and that’s great, but I just don’t see these folks as executive business coaches. They may inquire about these “free franchises,” but they won’t get very far through the franchise buying process.

The franchise information area of  the ActionCoach website describes what they’re looking for in a franchisee;

A Practice is a ‘single coach’ business model that offers both a solid business and a great work-from-home lifestyle with a lower overhead and stress level. It provides an opportunity for those with an executive leadership or business ownership background to directly transfer the skills they have developed over their careers into a business opportunity where the value they provide to their clients is amplified by the ActionCOACH Tools and Systems.”

Did you read the part about “executive leadership?” Or, a “business ownership background?”

Now, in case you don’t know, a coaching franchise is an executive-level franchise model that requires a serious amount of sales skills; you can’t be a coach unless you have someone to coach. You have to find your own clients! Read All About Coaching Franchises

It would be wrong for me to say that all military veterans don’t come from executive-level backgrounds. It would even be worse if I stated that military veterans weren’t ever business owners.

Because, I’m sure that Brad Sugars (The big boss of ActionCoach) would never want to award franchises to the wrong people.

Brad Sugars scams?

http://www.ripoffreport.com/franchisors/brad-sugars-actionco/brad-sugars-actioncoach-ac-yf669.htm

The thing that’s really requiring me to have an electric Shiatsu massage at this juncture is not that fact that some veterans may be awarded franchises that they have no chance in heck of succeeding in; it’s the fact that the executives at ActionCoach have seemingly made a conscious decision to use the men and women who make it possible for ActionCoach and franchises like them to even have the right in the first place to offer their franchises all over the US (the land of the free) for some cheap PR.

These guys will never give away 100 franchises to veterans. That’s because almost all military veterans aren’t usually the right fit for a coaching franchise. And how do I know, you ask?

I’ve worked with lots of veterans over the years in an advisory role, and have even helped some of them get into franchising. I can’t remember one time in which a consulting/sales franchise was ever on my list of ideas to present to them.

Ask anybody in the franchise industry about veterans. Ask them what types of franchises they usually go for, and tend to be a fit for.

Let me know what you hear.

Anyway, the ActionCoach Franchise Giveaway made for a nice press release. Kudos to them for that.

Do you agree with me on this? Or, am I living in Shiatsu Land?

Do you have a plan, franchise buyers?

 

No Business Plan Equals No Business Loan

Do you really think that you’ll be able to waltz into your local bank and get a small business start-up loan approved, quickly and easily?

Really?

Let me ask you a question that may seem off-topic with regards to my first question;

Where do you get your news?

The reason I’m asking you that is because of two words that have permeated the news cycle for the past two years now. Those words are, “credit crunch.” You have heard them, right?

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How to Screw Up a Great Idea

 

Recently, I wrote about a new franchise concept that had a great name, and at the same time, seemed to be focused on doing all the right things. It’s quite refreshing to see a young company like this attempt to dominate its market.

As I was taking a little breather from my new duties as the author of a new book on becoming a franchise owner, I came across a post over at my friend Dane Carlson’s site….

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