Starting your own business?

admin — Wed, 19 May 2010 20:21:58 +0000

You have decided to consider starting your own business. You are thinking about a franchise. Should you pursue franchising, start an independent business, or license a national brand? There are myriad business opportunities out there. What will give you the greatest financial freedom, let you be your own boss, enjoy life, time to travel, income to put the kids through college and set something aside for retirement? You are an entrepreneur, and it is time to make some decisions.

Here is something to consider.- According to a study by The United States Chamber of Commerce, 97% of franchises are still open for business after five years, and 86% of those franchises are still under the original ownership. A similar study showed that 62% of independent startups fail.- One out of every twelve businesses is a franchise.

- Franchise businesses account for 42% of the total retail sales in the entire United States.

- A Franchise Times survey indicated that 87% of franchisees were satisfied with their franchising experience and 90% of respondents recommended franchise ownership.

So is franchising in your future? Not necessarily. If this is your first business, I strongly recommend franchising. Franchising provides you with a recognized brand, business coaching, personal development, a proven profitable system, a prepared business plan that will get you needed financing, a time tested marketing system, software specifically designed for your operation, a real estate team to help you find the best possible location, leasing support to help you negotiate an advantageous lease, legal support to keep you from falling prey to unscrupulous litigates.

If you already have some business experience and think you don’t need all that support, you may consider licensing a national brand. This will give you a national presence, but save you franchise fees and royalties.
If you are a savvy entrepreneur who is fully capitalized and already has several businesses under your belt, you may consider going it on your own. Create your own brand and take it nationwide. This is the apex of entrepreneurship, but it is not the place to start. You didn’t learn to drive by registering for the Indy 500.

Why is now the time?

admin — Wed, 19 May 2010 20:20:06 +0000

Do a thorough investigation.

Even if you decide not to buy a franchise you have investigated, you will learn a great deal. The best way to learn about franchising is to investigate a franchise. Each franchise you investigate and decide not to buy will teach you invaluable lessons you will use in in your next investigation. Think of each as a stepping stone to your dream business.

Three reasons to do it now.
1. It is too easy to think about it until you have lost your best opportunity.
2. Signing up for the business course is free, and you might learn something.
3. Investigating a franchise is not buying a franchise. You will definitely gain knowledge and might even find your dream business.
Click on the image are right to view top franchises. Email info@wfafc.com for more information on franchising.

Why Franchising

First, you get a proven business model, which includes a business plan, marketing strategy, and operating systems. It is like going into business with a business partner who has 20 years of experience in the industry vice starting from scratch and learning the ropes through your own mistakes. In many small businesses, one mistake can close the doors of the company. Franchising protects you from that.

I happened across WFA Franchise Consultants while web searching franchises. I had been in the corporate world for over 20 years, but knew little about franchising. Ed Wills took the time to determine my true core values and recommended a service franchise that matched my investment goals. I am now in my new career and loving it. Being my own boss is even better than I expected.
Frank S.

Second, you receive training and ongoing support. Most people don’t know what they don’t know. Your franchisor teaches you everything you need to know to run a successful business. Then, they are available for ongoing support when you have a question or need help with an issue. Franchisors have legal departments, accounting departments, graphic designers, marketing departments, and operations experts ready to provide predetermined support or help you with specific issues. It would cost you a fortune to have all those professionals on retainer, but suicide to go into business without them.

I have been an entrepreneur my entire adult life. I was considering adding a franchise to my list of business holdings. Ed Wills works with lots of franchises, but he recommended a non franchised national brand in the food service industry that cost me half what I had expected to spend. Now I am working on expanding to new locations.
Sally P.

Third, you get brand recognition and national presence. Jones Soda has a cola that has beaten Coke in every blind taste test ever conducted. So why does Coke outsell Jones by over 10,000%? Brand. Why does MacDonald’s have 10 cars in the drive through at any time of the day while Buddy’s Burgers parking lot is empty? It’s not because MacDonald’s burgers are better or cheaper. It’s because MacDonald’s has a recognizable brand that people can identify with.

I was getting out of the Army and was unexcited about looking for an entry level job. Ed Wills was able to find me a franchise that offered a veteran’s discount and in house financing. Their training, coaching, system and support have prepared me to be a business owner. As a result, I am now the boss instead of the new guy.
Juan J.

Fourth, you get an exit strategy. When a mom and pop goes out of business, they close their doors. When a franchisee is ready to retire to the Bahamas, they call the franchisor that has a marketing team already in place talking to people who are looking to buy a territory. Mature franchises have people on waiting lists ready to buy the next available franchise.

I was a laid off information technology specialist. After six months of collecting unemployment and emailing resumes, I decided to get in control of my life. I didn’t think I could afford to start a business, but my consultant showed me how to invest my 401k into my own business. Now instead of the stock market determining my future, I get to determine my own future.
Jill F.

For more information, email: info@WFAFranchiseConsultants.com