Auto Parts and Dealers Rebound, US Adds 25,000 Franchise Jobs in November 2014

ADP released its November 2014 Franchise Jobs Report with the announcement that the US added 25,000 franchise jobs - the biggest monthly increase seen since June.  This marks 34th straight month of job increases for overall franchise jobs.

"Franchise jobs added increased sharply in November to a level not seen for several months," said Ahu Yildirmaz, vice president and head of the ADP Research Institute.  "Much of the rebound came from the Auto Parts and Dealers segment which added about 5,000 more jobs than in October." 

The biggest category to see an increase in jobs was the restaurant industry, which added 11,800 jobs.  

Overall, ADP reports 8,364,400 American jobs are with franchises.  This is a 2.9% overall increase from November 2013.

Help Create Jobs as a Franchise Owner
Owning a franchise is not only an investment in yourself, but helps to create jobs in your area.  Find out more about how you can discover if franchising is right for you by taking part in one of our events or webinars listed to the right.  You can also contact me directly to find out more at 810-423-3956 or lbelford@frannet.com.

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Location, Location, Location

Let’s say that you’re well on your way to becoming a successful entrepreneur by this point. You have made the decision to go into franchising because you like the idea of being your own boss, contributing to your own bottom line and experiencing a limitless future. You’ve done your due diligence and selected a carefully crafted opportunity that matches up with your needs. You have a business plan and it’s been blessed by a financial advisor and an attorney. The stars are aligned for your success and it comes down to a question of where your business will be located.

Two things are going to happen based on this decision. Either your business will succeed because you chose to reside in a prime location, with maximum visibility and well-heeled co-tenants or…your business could fail because you located your company in the wrong area. That’s why FranNet has such strong views on the supreme importance of your franchise location.

Taken at face value, many franchisors will have a good idea of the territory they want new franchisees to choose based on the location of other franchisees of the same brand. Typically, there are clauses written into franchise contracts which prohibits direct competition among these like-minded opportunities—and that’s a good thing. Territories are important because they allow you to operate exclusively in a stated set of boundaries. And if your franchise locating your franchise outlet in your community, you should have more than a passing knowledge of your own city or township’s neighborhoods and shopping districts.

That being said, here are three critical points to consider when selecting a location for your franchise:

• Look for Class A Retail Space. These spaces typically include a high concentration of population and higher household income levels. Ask for it by name! 
• Population figures. Any real estate expert should be able to cite you statistics on daytime population within a three and/or five-mile radius of your location. It’s usually one of their prime selling points. If this isn’t discussed, it’s probably not a positive statistic! 
• Co-tenancy. This is important! If the location is a shopping mall or retail strip, ask who the “Anchor” tenant is. Usually, it’s a well known grocer or national consumer branded store. Make sure all of the other businesses in the location don’t directly compete with your business or service. Also, consider whether or not you’d feel comfortable doing business around the businesses already located there. 

Last, before you sign anything related to real estate, get out and investigate the opportunity on your own. Show up on a weekend afternoon and survey the car and foot traffic in and out of the location area. Check to see if public transportation supports your location. Then go on a Tuesday night. Make notes and compare. Talk to some of the other shop owners and proprietors. Many of them will be all too happy to share their experiences with you—both good and bad.

At the end of the day, FranNet wants our new franchisees to succeed well after signing a contract to represent a franchise brand. Blowing the whole opportunity with a bad location selection would be nothing less than a tragedy. Don’t let it happen to you.

Do you feel that you’re ready to get started? If this article has inspired you to investigate a franchise opportunity, perhaps it’s time to check out one of my events or webinars listed to the right side of the screen. Or, contact me directly at 810-423-3956 or lbelford@frannet.com. All of my consultations, events and services are FREE. Let’s get further down your path to success!

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As the Holidays Progress, Are You With Your Match (Professionally That Is ...)

It’s December.  The time of snow and Christmas parties and Cyber Monday.  It’s also the time for reflection as the calendar gets closer to turning to 2015. 

TIME TO REFLECT

Think about your 2014.  Do you find yourself working too much and other people reaping the rewards?  Are you in a second job that is only paying by the hour?  Was the year a drag, just because you are not doing what you love?

ASK QUESTIONS

What if you could be matched with a business concept that allowed you to invest in yourself?  What if you could be matched with a business concept doing something that you love?  What if you could be matched with a business concept that is a side investment or a “second job”.

GET MATCHED

FranNet has an exclusive matchmaking process that pairs you with business concepts doing what you love.  We are going to ask you questions and get to know you, as well as find out where you want to be in life?  Are you going to be a day-to-day owner directly involved in the business?  Are you going to be a semi-absentee owner, meaning that you are going to be involved 15 to 20 hours a week? 

FIND OUT MORE

We also have the knowledge about franchising and can coach you through the process.  What’s a FDD?  Where can I get financing?  What are the questions I should be asking?

I invite you to take a look at some of our upcoming events and webinars listed to the right.  My webinars, events, consultation and services are totally free – no obligations at all.  My goal is to educate you and show options.  There has been times that I have suggested that people should not be franchise owners. 

You can also reach out to me at anytime if you want to learn more about franchising.  I can be reached at 810-423-3956 or lbelford@frannet.com.

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Franchise Jobs in October 2014 – What’s the Trend?

According to data from the ADP National Franchise Report (October 2014), franchises created 16,970 jobs in October 2014. This increase almost matches the 16,930 jobs created the month before.

Here are the facts:
Industry categories that saw increases in jobs (with the percentage contribution to the overall monthly growth in parenthesis):

• Restaurants (78%)
• Other (10%)
• Accomodations (10%)
• Professional Services (9%)
• Auto Parts and Dealers (4%)
• Food Retailers (1%)
• Manufacturing (1%)
• Building Material and Garden Equipment (1%)
• Personal Care Retailers (<1%)

LEARN MORE ABOUT FRANCHISING and How YOU Can Play a Role in Job Creation
Want to know more about franchising and how you can play a role in job creation?  Attend one of our upcoming events to learn about franchising industry categories, and how FranNet can match you with a franchise concept suited for you. The upcoming events and webinars are featured directly to the right of this page. All events, webinars, consultation and services are totally FREE. Feel free to contact me as well at 810-423-3956 or lbelford@frannet.com. Let’s talk more about your dreams and how I can help you on your journey down the Road to Success.

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Giving Thanks as a Business Owner

As we approach Thanksgiving, a holiday about reflection, gratitude and family, I am thankful for many things: family, friends, good health and more.  As a business owner, I am thankful for the chance to make my own career and invest in myself.  

GIVING THANKS FOR HELPING PEOPLE
As a FranNet consultant, I have had the chance to meet with many of people looking to start a business.  Some I have been able to help provide guidance and coaching as they start on their journey to success as a franchise owner.  While  with others, I have advised that starting a business just is not the best idea.  I have been able to introduce some to business concepts that meet their passions – some concepts that the person didn’t even know existed!  The bottom line is that I’m thankful for the chance to help people.

GIVING THANKS FOR SUPPORT
As a FranNet consultant, I have been able to network with other franchise consultants.  Sharing steps to success and things to avoid, it never feels like I am alone in this business.  I am thankful for support and places to turn.

GIVING THANKS FOR A FLEXIBLE SCHEDULE
As a FranNet consultant (and owner of Accent Resources), I am able to maintain a great "work-life" balance.   During the past 10 of years owning a retail franchise, being an independent consultant, and, most recently, a  FranNet consultant, I have been blessed with an accommodating schedule.

Owning a business allows you a certain amount of flexibility which is not generally possible when you are working for someone else.  I am thankful that I control of my own life schedule (most of the time)!  I am grateful that I have been able to find business concepts that fit my busy schedule.

GIVING THANKS FOR A PROVEN CONCEPT
As a FranNet franchise consultant, I have access to tools to help me with my business.  I could have never thought of the exclusive matchmaking system that we use to help match prospective business owners to franchise business concepts based on that persons goals, passions and lifestyle.  FranNet also conducts webinars that  provide educational opportunities to any interested persons that I might not be able to reach on my own.

LET ME HELP YOU FIND MORE FOR WHICH TO BE THANKFUL 
As a FranNet consultant, I can help match you to a franchise that meets your goals, interests, and financial resources.  With more than ninety franchise concepts available,  I can help you find the right franchise.

Take a look at the events and webinars listed to the right.  These events and any of my consultative services are FREE for those serious about business ownership!  For more information, please contact me at LBelford@FranNet.com or 810.423.3956.

5 Good Reasons to NOT Buy a Franchise – From a Franchise Coach

Yes, you read the headline right! I’m going to tell you why, under certain circumstances, you should NOT buy into a franchised business concept. Why am I telling you this? For some people, owning a business (franchise or otherwise) is probably not the right life choice. And on the far extreme, those born to be purebred entrepreneurs, owning a franchise business is probably not the right choice. But for some, franchising can be the perfect choice for a new career, a different investment, or both. Here are some good reasons NOT to buy a franchise (or maybe any business):

• YOU NEED AN IMMEDIATE PAYCHECK
  Rarely does a new business start cash flowing on Day One. You need to be realistic in terms of projecting when you’ll be able to draw a paycheck, and make sure you have adequate reserves, or another source of household income to sustain you and your family for at least 6-12 months.
• YOU ARE CONSIDERING A PARTICULAR CONCEPT THAT WILL PUT EVERY PENNY YOU HAVE AT RISK
  The pressure and sleepless nights will not only be detrimental to your health, but can also lead to poor judgment and decision-making which will detract from your likelihood of being successful. If you don’t have sufficient cash reserves as a safety net, then maybe it’s probably better to pass, or find a concept that requires a lower upfront investment. 
• YOU THRIVE ON 100% CONTROL
  The key to success in franchising is consistency and adherence to a proven system. Your customers know what they are getting before they walk into the door, whether it’s a product or service. It doesn’t matter who owns the McDonald’s, you know what the Big Mac looks and tastes like. You are buying a name brand and an operating model. You cannot change that brand. “Oh, the Big Mac isn’t selling well, but let me call it the Mega Mac – that will change things!” There may be certain vendors, supplies and programs that you have to stick with as part of the franchising agreement. If you think you have invented a superior product and/or business system, then perhaps you should consider starting a business from scratch, as opposed to joining a franchise system. 
• YOU ARE LOOKING FOR A LIQUID INVESTMENT
  You are making a commitment and a significant investment when buying into a franchised business concept. This cannot be liquidated on the spot, should the need arise. Remember, just like most businesses, it may take you time to make back your initial investment or cash out if you decide to sell.
• YOU DON’T HAVE A COMPELLING REASON FOR BEING IN BUSINESS FOR YOURSELF
  It’s not enough that you’d think it’d be fun to “Be the Boss” or you have a passion for a particular product or service. Business ownership is a huge commitment, and should only by attempted by those that have the transferable skills necessary to be successful, and have sound reasoning for taking the risk, such as a resolve to never work for someone else again, or not wanting to have your money subject to the roller coaster stock market.

At FranNet, we believe that business ownership, whether through franchising or otherwise, only makes sense for the select few. That being said, we’ve seen lots of folks that have what it takes, including a compelling reason for being in business, achieve freedom, independence and fulfillment by selecting and managing a franchise that FITS their goals, transferable skills, preferences and lifestyle requirements.

If you’re wondering if you could be one of the “select few," take a look at our upcoming FREE events and webinars listed on the right. You can also contact me at 810-423-3956 or lbelford@frannet.com to discuss your unique situation. We’re here to help you decide whether franchising and/or business ownership might be for you, and if so, how to go about finding the RIGHT fit. Don’t forget to also visit frannet.com/lbelford.