Disgruntled Franchise

As with any industry and profession, things can go horribly wrong with your business. When something goes wrong you often times have those people who will make a fuss of it until the end of times. Despite how wrong this is and the legal repercussions this can lead too, you will always hear about some unhappy franchise owner. No franchise is perfect, so learning about what other business owners have gone through will make potential franchise owners more aware.

Take Burger King for example, in the last couple of years there has been a few skirmishes due to menu pricing. The association that represents the majority of Burger King Franchises claimed that the company was setting costs below what the product actually cost. One such example is the dollar cheeseburgers. In reality these burgers cost $1.10 and were being sold at $1 due to what the head of the company wanted. There were several lawsuits traded back and forth. While you are obligated to follow your contract, you might sometimes face situations that will cause you to lose profits. If you were happy before the incident you may be willing to overlook such thing, but if it is something that happens on a regular basis you might be inclined to not do as the company wants.

Other companies like 7-11 you don't hear too many complaints from owners because the head of the companies ensures that "business consultants stop by twice a week." The advantage to this is that store owners can talk things out as they happen. This means there is no periods as to where one person's anger can build up. It is almost a real-time solution to preventing anyone from becoming unhappy.

In the end you have to be aware of the early warning signs that your franchise will be soon disgruntled over one thing or another. When this happens it is time to open and solidify communications before things get out of hand. When you are able to catch the early warning signs, you can consider yourself very lucky. It will be a disaster averted because you cared enough as to what is happening. A family based company runs well when you actually act like a family.

When you are researching various franchises, try not to listen to those who make the biggest issues out of something. Often times the angrier the person is, the more they are at fault for something. It can be something as small as not listening to the head of the company and doing whatever it is that pleases you. Once a person gets set off, they forget about all the positive times they had and just focus on the negative. This is especially true if you only hear one person going off about a certain franchise and the rest of the owners are as happy as can be. Don't be drawn in by a singles person's complaint. Not everything is black and white and every side of the story is needed to make a good solid decision about anything.

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How to Kiss Corporate Life Good-Bye and Stay Busy in Retirement

For many of the baby boomer generation now in their 50's to 60's and facing the prospects of retirement, some are pushing back against the traditional expectations of our society. And why not!

This is the generation who lived through the radical ideas of the 1960's and rebelled against the commonly held views of how to live a quality and passionate life.

Some boomers see retirement as "flex time" where choices and direction are no longer fixed. If you wish to buy an RV and ride the roads across the country, stopping whenever the urge arises to pass some time or even get a job to accumulate needed cash, then do it.

There are retirees who still see and feel the passion of their work and commit to stay in the corporate game for years past the traditional retirement age of 65 but in the context of corporate life seek more flexibility and opportunities to teach, share and pursue areas of curiosity while transferring the tremendous intellectual wisdom gained over a lifetime of employment to younger staff.

I wonder if the corporate world can find a constructive way to harvest these often untapped passions and the wisdom of older workers.

Too often the corporate hierarchy seeks to find a way to discard these senior workers in favor of a younger audience who desperately need the business wisdom these senior players possess.

What a shortsighted strategy to dismiss these workers rather than capture and effectively utilize these loyal stewards for as long as possible.

And if the statistics are accurate there is a growing wave of people ages 44 to 71 years old representing roughly 100 million Americans who yearn for a creative solution to their retirement years. In fact, there is an estimated 40% of the 100 million who seek an encore career path to close out their final years of employment.

How does that encore career path look for a growing number of people?

A good number of these retirement bound people are assembling a known team of colleagues and buying an existing business they feel has growth potential. This approach is not for everyone but for many, starting a business or buying one with growth opportunities is a way to put a final stamp on a great career while driving income, ownership equity and family wealth for the future.

Yes business ownership has risk, but so does corporate employment in your 50's and 60's as so many senior workers are finding out.

For some people who lack the core business team and often large dollars necessary to buy an existing business or start one from scratch, they are finding their team of choice by buying a franchise.

Franchise ownership isn't a fit for everyone but offers thousands of senior people in the final stages of a successful career a way to buy a business that has tangible market exposure, proven business systems and offers a business solution, product or service that will fit almost any person's passion. With over 6000 franchises in more than 70 industries, there is a franchise opportunity to fit almost anyone.

For many Boomers and retirees who find themselves pushed out of traditional corporate security and have the skills, time and funds, a franchise investment can be a great family project offering the training, marketing methods, proven systems & technology, a shared vision and a business that can be started quickly and create positive income in a relatively short period of time depending on the franchise selected.

And if you have a solid credit score and other types of assets there are several creative financing techniques available to get you into the franchise of your choice.

The next step doesn't require radical action. If you are curious and open-minded, then take the time to engage a good executive business coach to help you explore a creative path to business ownership. If the process reveals nothing constructive, then nothing has been lost but a little time. But you never know where a new path may lead. Start an exploratory search today. Just call it part of good retirement planning.

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Due Diligence Process in Franchising

Due diligence is defined as an investigation of a company to determine operational or financial information. This process is designed to provide information to make decisions about the potential franchise and determine if it is a good "fit" in a market.

If the potential franchise buyer is a group of investors, these investors must be kept informed regarding all aspects of the transaction and marketing potential needs to be investigated to ensure that stockholders do not lose money on their investment.

Most franchises have business models that have been developed and tested from the parent company. Yet, there are many details that still need attention. You do need to make sure you have done your research of the franchise organization, the product or service, what the market area is, and understand the contract and franchisor support.

• When you have determined what franchise you want to purchase, research the track records of the company. Make sure the principles have industry expertise and will answer questions readily. Read and study accounting breakdowns to make sure your franchise is valued by the target market and actually makes money.


• You also need to know that you have exclusive rights to the territory you are considering. Check out similar franchises and determine why they are successful. Make sure no other similar franchise is located in the area.


• The contract needs to include fees and royalties. There should also be renewal, termination and transfer charges if you decide to liquidate or "give" back the franchise. The parent company should be able to give store layout and lease negotiation support. Make sure the promotional fee is geared toward marketing and based on a percentage of profits or sales.


• Check out the business relationship of the parent company and other franchises. Determine how the company treats vendors, partners and suppliers. This is a good indication of how investors will be treated.


• Determine reputation. A good company reputation will generally insure a good franchise reputation. If there are too many complaints about a parent company, leasing or purchasing a franchise from them might not be a sound investment opportunity.

In addition to finances, reputation, contract, market and relationships, you will also need to consider communications. It is due diligence to ensure that there are open lines of communication in regards to policies, changes, supply and demand. If you are unable to communicate fears, negative happenings as well as celebratory events with the parent company, you may want to reconsider your franchise purchase.

Seek legal counsel as well. You want to do your own due diligence by hiring a professional to look over all franchise documentation, rules, regulations and so on to make sure the opportunity is a good and legal "fit" for you as a business model, too.

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Tile and Grout Restoration Franchise Opportunities

Finding the Right Franchise

There is a large variety of the types of tile and grout restoration franchise opportunities that are available. Some concentrate their efforts on residential business, some concentrate on commercial business, and others dip into both markets. It is important for any person that is thinking about going into the tile and grout restoration business to carefully weigh their options and do the required research. There is specific equipment and training that will be needed, and it will vary depending on the sector that is selected.

Franchise or Private Business?

Many people do not want to have someone looking over their shoulder so they choose to go into business for themselves. The only problem with this is that it takes a great deal of money and time to invest in a private business. This could simply mean that the person could not see profits for years to come. Most families cannot afford to allow someone to invest money in a business and not see a return for a couple of years. This is when a Franchise opportunity is the perfect solution. The franchise title has already done most of the heavy lifting. They have brought in the customers, built up the name, and established a strong reputation. The Franchise will allow you to use these things by simply paying their required fee.

A Lot to Choose From

The nice thing about selecting a tile and grout restoration company to own is that you are not limited to the type of management or work that you would like to seek. You can choose to go after residential, commercial, or both. Residential projects tend to be smaller jobs that can be conducted with a smaller staff. Commercial projects tend to be larger projects that require more support but often offer repeat business. It can be difficult to select both unless you plan on having a decent size staff and are trained on several different pieces of equipment.

What to Expect from Your Franchise

The reason that there is a fee in order to have a franchise is easy. The new business will get off the ground much faster because it already has a solid reputation. Most people do not think of a company as a franchise with separate owners, they think of the name and if it is trusted. For example if you like a chain restaurant you do not often stop to look at the franchise owner you expect the same level of business at every one you go to. This helps to get business in the door and profits in your pocket quickly. The higher the fees that you pay for the franchise you purchase the more likely it is that you will have owner involvement and the franchise name carries a well respected title.

Tile and grout restoration can be a great business for a single person who wants to work at his own pace or for someone who wants to make a serious investment of time and energy in a new business enterprise. Whichever route you take, do your research on the franchisor first. Every thriving business began with careful, strategic planning - do your homework first to determine your best path to profit.

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How to Go About Finding Franchise Opportunities?

So you have decided that you would like to try out owning a franchise. This is a wonderful decision especially for beginners. The act of buying and maintaining a franchise will teach you a lot. At the end of your time as an owner of a franchise you will be very experienced and ready to teach others. However, you must first find some franchising opportunities to buy into before you can move forward.

To start off, look online

When you go and do researches online you can find out what cities have new openings for big malls and super centres. You can even find individual franchise opportunities even though they don't show up all too often online. Then see if moving to another city is something you can do or if you can handle the commute. If this is something that doesn't agree with you, then you must continue looking for other franchise opportunities.

Networking is very important

By keeping good contact with a variety of people you will eventually hear about various franchise opportunities. This can range from having store owners who are friends, old business partners, teachers, consultants and lawyers. The more prominent a person in the business field is the more likely they will hear something, so keeping good ties with them is essential.

Go to trade shows

There are many companies who will turn up at a trade show. Even though it is a small sampling, it is still enough for you to forge new contacts among employees in other companies. Be sure to make a good and lasting impression when you talk to these representatives. When you listen carefully, take notes and ask all the right questions you may find yourself being contacted in the future.

Talk to consults

This is one of your best bets because everyone has to go through a consultant when they want to purchase a business or franchise. They will be able to give you some good leads and even some names of people you can contact for more information. Keep in regular touch with everyone you talk to so they know you really mean business. After all, a company would rather hire someone who goes to them on a regular basis rather than some person they have to track down just so they can talk. Eagerness is the key to moving forward.

Now you have found a perfect franchise opportunity for yourself. Now you have to go and talk to a business broker and an accountant and get the ball rolling. It is imperative that you understand all the risks and rewards you are signing yourself up for. If you are unsure of yourself go visit other stores in the franchise and talk to the owners and employees there. They will be able to give you a more in-depth look into the experiences they have had in the past. When you are reassured you can finally accomplish your dream of owning your very own business.

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A Critical But Often Missing Option for Boomers in Career Transition

Many senior workers in their 50's and 60's are finding themselves out of traditional corporate jobs and unable to find a new job.

The reasons vary; too close to retirement, lacking skills with emerging technology, too expensive relative to younger people; lack the intensity of the younger generation.

Whatever the reason you may find yourself out of work with no immediate new job prospects, the critical question is how to prepare for contingencies.

Ask yourself... "How long am I willing to wait for that perfect job?" "If that perfect job doesn't come, what are my choices?"

For many, the immediate choice is to go as long as unemployment is available despite the slow drain on personal funds. For others, the choice may be to simply to surrender to a lower paying job.

Still others are choosing to open a new door to self-employment by investing in a fast growing franchise business.

If you are intrigued by the potential of buying a franchise but don't want to pull the trigger quite yet, then consider getting some education while you search for that perfect job.

How do you gain critical education and information about franchising and what options there are for you?

The first step is to engage a qualified business coach who can work with you to evaluate your skills and business capabilities, assess your hobbies and passions and help you identify franchise options that are aligned with your personal interests and financial capabilities.

All of this can be done at no cost to you and while you search for that perfect job so you don't lose precious time. If you are willing to spend 3-4 hours per week for just a few short weeks, you will gain important clarity whether a franchise business is right for you.

Some will never open this educational door because they presume up front that they don't have the financial resources to buy a franchise and lack the skills to run a business.

Don't make the mistake of assuming you are unqualified too soon. If you have some funds, a good credit rating, a 401K or other assets you may well be capable of moving forward. And many franchisors offer some financing for interested investors.

The key is to take the time to get the facts about a franchise. See what is available while you do your job hunting. This process will assure you make a good decision regarding your future and ultimately enjoy and thrive during the final years of your career.

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Types of Franchise Ownership

Having a franchise is one of the most common ways to do business. To have a franchise means to have the license to run a business for another company and to be able to use the company's logo and business model, and also their branding to run the business. You essentially are a store for that particular business and the only difference is that you have your own space and can run the business in pretty much your way, obviously while maintaining the standards of the parent company that you take the franchise for. Today, there are franchises for almost every type of business; food, clothing, cosmetics, accessories, and even flowers. There are many types of franchises today and it becomes difficult to identify between them and to understand which one is the best for you.

Following are the most common types of franchise ownerships with explanations:

Single Unit Franchise

A single unit franchise means that you run the business for one company or brand. This is the most preferred option for those who are getting into the franchise business as the investment costs are manageable and earn a substantial income. When a person has a single unit franchise they can focus on one single line of business and it is a good idea to start with such because the business could keep you occupied throughout the day. With a single unit franchise you can manage a few of zip/Postal codes allotted to you. Such a franchise also allows a person to invest all their capital in a big and established brand and focus at making it successful and make a reputation for themselves.

Multiple Unit Franchise

This is a good option for those who already have experience with running a franchise or are currently running one and are successful at it. Getting a multi-unit franchise is definitely an added responsibility and it is a good idea if you have someone to manage the first one you have. It could also be possible that you plan to get another franchise for the same business that you have the first franchise for. There are quite a few benefits of having a multi-unit franchise. It increases the option to reach a wider customer base and subsequently the possibility to market your first franchise. It helps to consolidate expenses as the same marketing material can be used and the resources can be shared between the two franchises. Multi units, in this case, are purchased in reduced per unit price and owner's involvement in day-to-day operation become minimal. It is also important to first analyze whether you have the time and the money to be able to invest in two different locations before you make the decision.

Area Developer

This particular franchise has a certain number of units of the business in a particular area. This is not an easy task but is quite profitable as you have the sole rights to run that particular business in a given area and all the earnings from that business in that area come to you. The marketing becomes easier, the competition in that particular area isn't there, and you can market the business without having to worry about beating the other franchise with the same business. You are, in this case, obligated to open a number of outlets in a geographic area in certain time.

Master Franchise

This type of franchise comes into the picture when you plan to expand your business beyond your city or maybe even your country. The master franchise ideally has the control of the concept or the main business and earns revenue based on royalty. The initial franchise fees and royalties are shared between the Business and the Master Franchisee.

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