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out on your own
2009
The Entrepreneur’s Source
Everything you wanted to know
about Franchising
but didn’t know who to ask
John Culliney MBAThe Entrepreneur’s Source
out on your own
2009
Beyond Mc Donald's - Food for Thought
Starting your own business.
What is Franchising
Advantages/Disadvantages & Benefits of Franchising
Why is Franchising so successful
Finding the right Franchise
Why would an Entrepreneur look at the franchise option
Do I have what it takes to own a franchise.
out on your own
2009
Starting A New Business
Advantages DisadvantagesLower start-up cost Requires more time and
effortIndependence and creative High risk of failure freedom High start-up costsFreedom with location and Takes longer to become procedures profitableAn opportunity to draw Financing may be more on you past experience. difficult to obtain
out on your own
2009
A franchise is the agreement or license between
two independent parties which gives:
• A person or group of people (franchisee) the right to market a
product or service using the trademark or trade name of another
business (franchisor)
• The franchisee has the right to market a product or service using
the operating methods of the franchisor
What is a Franchise
out on your own
2009
Advantages of owning a Franchise
Owning a franchise allows you to go into business “for yourself, but not by yourself” – training, consulting & coaching.
A franchise provides an established product or service which already enjoys widespread brand name recognition.
A franchise increases your chances of business success because you are associating with proven products, a brand name and methods.
out on your own
2009
Disadvantages of owning a Franchise
The franchisee is not completely independent.
Manage the business within the boundaries of the
agreement.
Loose total creative freedom.
Exposed to a culture or market direction change.
out on your own
2009
7
Benefits
Access to live information – “pre-investment”
Proven formula
Quick “turn-key” operation
Cooperative buying power
Instantaneous Goodwill
Established Brand recognition
On-going support & success tools
You have the benefit of other owners experience
out on your own
2009
8
Why is Franchising so Successful?
A proven system
Training and ongoing support
Being in business for yourself,
but not by yourself
Win-win relationship …
starts with mutual benefits
and grows from there
out on your own
2009
Why do Businesses fail?Why do Businesses fail?
• Lack of skills
• Lack of resources
• Working “in” the
business
not “on” the business
There are many reasons for failure:
out on your own
2009
How Successful is Franchising?How Successful is Franchising?
Franchises vs. Business% of Businesses Still Operating
0%
20%
40%
60%
80%
100%
1 2 3 4 5 6 7 8 9 10
Years in Business
% s
till
op
era
tin
g
Franchises
Independents
Most are still in Business after 10 years
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2009
What are Franchisors Looking For?What are Franchisors Looking For?
• Owner…not a
Technician
• Transferable skills
• Willingness to follow a
system of procedures
• Ability to execute
out on your own
2009
Questions To Ask YourselfQuestions To Ask Yourself
Do I know why I’m getting into business?
Am I willing to follow the process?
Am I willing to work hard?
Do I have access to start-up capital?
Can I support myself during the early months?
Are family & friends supportive?
Will I do whatever it takes to ensure success?
Does the business model support my goals?
out on your own
2009
Finding the Right FranchiseFinding the Right Franchise
• Education
• Profiling
• Validation
• Selection
• Success
Where Do You Begin?
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2009
14
About us : The Entrepreneur’s Source
A coaching organisation that works with entrepreneurs and individuals who are exploring start-up or self employment, & businesses who are wishing to expand and improve results
Our tools are education, coaching, and the knowledge of hundreds of franchise and other system-based opportunities available worldwide
95% of our successful clients end up in opportunities that they would not have explored on their own, or would have prematurely dismissed
““Your success is our only Your success is our only Business”Business”
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2009
15
"If you don't design your own life plan,
chances are you'll fall into
someone else's plan.
And guess what they have planned for you?
Not much."
Jim Rohn
The Entrepreneur’s Source
out on your own
2009
The Entrepreneur’s Source
THANK YOU
John Culliney MBA
The Entrepreneur’s Source0862532704
