Should You Become Franchise Owner?

Should You Become Franchise Owner?

www.thefranchiseking.com

About The Franchise King®Joel Libava

Joel has been involved in some facet of franchising for over 20 years, and is the author of, “Become a Franchise Owner” (John Wiley & Sons, Publisher.) He’s also a franchise ownership advisor.

www.thefranchiseking.com

Should You Get A “Job?” Or, Should You Own What You Do?• Job • Own What You Do

Well? What Should You Do?

Your Last 3 Bosses?

If you feel that you could be a successful small business owner, why the heck are you willing to

work for someone else?

“Sure, I’d like to start my own business, but I think it’s way too risky.”

Lunch. At the top.

3 ways to go onto business

• Start from scratch

• Buy an existing business

• Invest in a franchise

What is a Franchise

• Licensing system for the selling of products/services

• Franchisor sells licenses to others (Franchisees)

• License includes guidelines to follow

• Franchisees usually have an assigned geographic territory

How does franchising impact the USA Economy?

• Generates 18 million jobs

• Contributes 50% of all retail and service $

• Produces over $1.5 trillion in econ. output

Franchise Advantages

• Systems are already in place to help you get started rapidly- a blueprint

• Formal training program• Branding. Maybe…• What else?

Franchise Disadvantages

• There is a system, but it’s not yours

• You don’t have total control. Lots of rules

• What else would be a disadvantage?

What You Get With A Franchise

• Operating system• Their experience• Formal training• Support• Branding• Purchasing Power• Marketing• Franchise network

Can you see yourself as an owner?

Some Franchise Types

• Food Service• Retail• Personal Services• B2B• Children’s Services• Green

Check out hundred’s of franchises at www.franchisedirect.com

Investment AmountsYour total investment for a franchise

depends on the type of franchise it is…

Home-Based- $40k+

Retail- $150,000+

Food franchises- $150,000+

Service franchises- $100,000+

Hotels/Motels- $5 million ++++

Franchise Research

• The FDD

• Online Investigation

• Current Franchisees

• Former Franchisees

• Make a List of Questions to Ask

• Ask The Tough Questions!

Financing a Franchise

• Your cash injection• Using current banking relationships• Projections• Your story

Questions?

For more information on how to carefully choose, properly research franchises, go to- www.thefranchiseking.com

Email- Joel@thefranchiseking.com

Call-216-831-2610

Thank You For Attending!