Explore the World of Business Ownership - Wednesday (3/25) One Hour Webinar

Join us for this free, detailed webinar from the business experts at FranNet. Designed just for you to answer all those initial questions on business and franchising basics, we’ll cover:

• The advantages to starting a business
• A look at franchise ownership
• Misconceptions about franchising
• Building equity as a strategy
• How to find the right franchise

Stop climbing the corporate ladder, and create one! If you’re considering business ownership, it’s essential to use the best available resources so you can get it right the first time. At FranNet, we use an established, proprietary process to match a person’s talents and goals with the right franchise choice. In a recent study we conducted on clients we’ve placed into business, we found that:

• Over 91% of clients we place are still in business after two years
• More than 85% of our clients are still open after five years
• Nearly 15% of our clients are top performers in their franchise
• These are all “Best in Class” numbers for our industry

There are other franchise brokerage-type services out there, but what makes FranNet unique is how we look at your career options first, and then jointly decide if business ownership is the right option for you. All of our consultants are locally based and bring face-to-face attention to your needs so that we’re personally there for you every step of the way. And perhaps the best part is that our services are completely free to you throughout.

This webinar takes place on Wednesday, 3/25 at 8pm ET.  It should last about 60 minutes depending on group participation.  The first 25 to register and attend will receive a free copy of Street Smart Franchising!

Let FranNet help you become what you’ve always wanted to be.

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You're on Deck ... The Franchisors are Pitching ... Will it be a Home Run!

As the weather improves daily, it’s easy to think about enjoying America’s Pastime.   Especially as we hope the Tigers are about to start a World Series run.

It’s also a good time to think about the American Dream.  Owning a business.  And FranNet is proud to present our signature event that will inspire you to think about swinging for the fences.

SIGNATURE EVENT
Michigan Franchise Forum: “Meet the Franchisors”
Thursday, April 16 in Lansing
Several premier franchise companies that are poised for expansion in Michigan are ready to meet you.  Listen as their development executives tell you about their brands, their pathway to success, and who they are looking for in a franchise owner.  After their presentation, you get a chance to ask them questions directly.

Categories may include:  Professional & Business Services, Light Manfuacturing, Retail/Commercial Distrbution & Recycling, Hair Care, Home/Commercial Improvement, Automotive Aftermarket and more.  Models represented will include home-based, full-time owner/operator, semi-absentee, executive models and more.

You will also hear tips from FranNet consultants and a franchise financing expert about successful business ownership.

Click here for more information and to RSVP.

DON’T FORGET TO TALK TO YOUR COACH
As your local FranNet consultant, I am here to provide help as you further learn about franchising.  I might even be able to connect you with a potential business, thanks to FranNet’s exclusive matchmaking process.  Don’t forget, all of my services, consultations and events are FREE.  Contact me at lbelford@frannet.com or 810-423-3956 to learn more.

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How to Assess a Franchise Opportunity? One Step: Franchise Disclosure Documents

Homework is not only dreaded by school children, but also conjures up bad memories for those of us who have long since graduated. Unfortunately, plenty of homework (a/k/a due diligence) is required if you want to make a sound decision on a business investment.

In the world of franchising, Federal Trade Commission (FTC) regulations actually make it easier for the prospective buyer by requiring that the sellers (franchisors) compile much of the essential information needed for a proper investigation in a uniform document known as the Franchise Disclosure Document (FDD).  It must be updated at least annually, and has to be in the buyer’s possession for at least 14 calendar days before any commitment can be signed or fee paid. Every one of these documents, regardless of the issuing franchise company, will look similar because the FTC prescribes the format and requires 23 “Items” or topics to be addressed, always in the same order. This helps create a level playing field for prospective buyers who are evaluating more than one franchise concept simultaneously, making it easier to compare and contrast.

WHAT IS IN THE DISCLOSURE DOCUMENTS

Some of the details that will be in the FDD are: 

• Business experience of the franchisor and a list of affiliates and officers
• Any litigation that the franchisor has pending that may impact franchisees
• The estimated initial investment and all fees, including the initial franchise fee, ongoing royalties, advertising fees, transfer fees, etc.
• Any restrictions on the sale of products, services, and also on their sources
• The franchisor’s obligations and the franchisee’s obligations
• Available financing and territory rights
• Renewal, termination, transfer and dispute resolution
• Information on the financial performance of franchised and/or company units (optional)
• List of outlets and franchisees, including any who left the system in the last year, and three-year grid by state of opened/closed/sold/transferred units
• Audited financial statements of the franchisor
• Sample franchise agreement

WHAT TO DO WITH THE INFORMATION

• While getting a good sense of the franchisor and its systems and track record, you’ll also be looking for red flags in the disclosure documents.  A high number of re-sales or closures or significant franchisor vs. franchisee legal disputes may be cause for concern. This does not necessarily mean that coming across an alarming sign or two means you should start looking elsewhere, but it certainly warrants further discussion on the topic with the franchisor and maybe even some franchisees.
• Once you’ve completed your due diligence and are pretty certain that you’ve found the right franchise for you, it’s a good idea to have a qualified franchise attorney review the franchise agreement section of the FDD to make sure you understand the various legal provisions.
• Contact FranNet with questions or concerns, or to learn about other franchise options that may be a better fit prior to making a final decision. By getting to know you and what your goals, ambitions and capabilities are, I can counsel you as to whether the road you are heading down truly is a road you want to travel.  I’ve personally helped many individuals, couples and families select the right business and start down a road toward success. All of my consultations, events and workshops are on a no-fee, no-obligation basis. 

WANT TO LEARN MORE ABOUT FRANCHISING?

We have several free events coming in the next month and a half where you can learn more about franchising. This includes three webinars and our signature event, "Meet the Franchisors," that puts you in the same room with franchisors looking to expand in Michigan. For more information, please visit michiganfranchiseforum.com or look at the links to the right.  You can also contact me at lbelford@frannet.com or 810-423-3956 with any questions or to learn more about franchising.

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Being Semi-Absentee, Actually a Good Thing!

Semi-absentee has a bad sound to it, doesn’t it. Would you want to be semi-absentee in an investment? What about being semi-absentee in something you want to be successful?

Well, would it surprise you that being a semi-absentee business owner can be a GOOD thing? (Although, you probably got the hint from the title of this article.)

If you want to keep the security of your day job, but put in some extra effort to invest in something you believe in, you can become a semi-absentee franchise business concept owner. Combine your capital with about 15 to 20 hours of work per week, and you can own a business.

There are some successful franchise concepts out there that you can take advantage of – from hair salons to restaurants to handyman referrals (just to name a few). You don’t need to be an expert in the industry; you rely on managers and employees to get the job done. You focus on running the business side.

Still, the bottom line is, you are the main boss. You make the final calls. You just are not always on site or having to put 110% of your attention on the business, 24/7/365.

Want to find out more about owning a semi-absentee franchise? Let me invite you to an upcoming free webinar tomorrow (Wednesday, February 25) at 8pm EST. Learn more about a semi-absentee franchise in a multi-billion dollar industry and growing. The franchisor is a leader in its category, providing clients a comprehensive program that blends one-on-one support and education with cutting-edge technology.  At a glance:

• Semi-absentee opportunity
• Multiple revenue streams provide residual income from repeat clients and product sales
• Staff ratio:  Dedicated franchisor staff to franchisee ratio of one to one
• Quick ramp up with an average 6-month break-even point
• Ongoing franchisor support and marketing and PR assistance

Find out more about this webinar by clicking this link.

Don’t forget, you can always contact me at 810-423-3956 or lbelford@frannet.com. Don’t forget to click on the social media links below to follow me as well!

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How to Assess a Franchise Opportunity? Make Sure to Thoroughly Examine the Franchise Disclosure Documents

We all might be out of school, but business opportunities do require doing your homework.   You do not want to make this sort of decision without having done homework, your due diligence, in accessing the opportunity.

When you are 14 days from completing the purchase of a franchise business concept, the franchisor is required (by federal law) to provide you with disclosure documents about the franchise. 

WHAT IS IN THE DISCLOSURE DOCUMENTS

Some of the details that will be in these franchise disclosure documents will be:  franchisor revenue, number of units sold, number of units resold, and whether the franchisor is or has been involved in any significant lawsuits.

You will also receive names and phone numbers of all current and past franchisees. 

REVIEWING THE DOCUMENTS

These documents could be several hundred pages long, and should be overviewed by your accountant and lawyer, as well as those involved in buying the franchise.

Now, if possible, try and get a copy of the franchisor’s disclosure documents as soon as you can.  This will give you the chance to do some digging before you meet with the franchise sales team.  You might be able to spot some issues before you “fall in love” with the business.

WHAT TO DO WITH THE INFORMATION
You are looking for red flags in the disclosure documents.  A high number of resells, franchisor vs. franchisee lawsuits, or other items that just give you a bad gut feel.  Look over these documents with your lawyer and accountant as well. 

Last but not least, make sure to contact FranNet.  I am a highly successful former franchise owner and seasoned consultant with experience in helping people reach their dream of business ownership.  My goal is to get to know you, and help you know what you are getting into.  For example, if you are looking to get into a semi-absentee business ownership situation (where you are only working 15-20 hours a week on your business), I can steer you clear if the franchise your are considering will require much more than that.

IS FRANCHISING RIGHT FOR YOU?

I invite you to attend my upcoming FREE workshop, "Is Franchising Right For You?"  This event is being held THIS TUESDAY (February 24, 2015) in Clarkston, MI.  We'll be covering the following topics in this seminar:  General discussion of the reasons that compel individuals to start their own business in the first place.

• A comparison of the pros and cons of starting a business from scratch, buying an existing business or starting a franchise.
• How franchising can provide a desirable alternative to traditional employment by reducing the risk of ownership to an acceptable level through proven business systems, comprehensive training and ongoing support.
• Basic information on franchising, including the range of industry categories, entry and long-term strategies, investment levels and fees.
• The legal regulations governing franchising that protect the buyer.
• A strategic approach to defining your personal business model, quantifying your returns and safely researching and selecting the business opportunity that’s right for you.
• Growth trends and choices in franchising that offer stability and success in weak and strong economies.
• A brief overview of FranNet’s no-fee, no-obligation consulting service is also provided.

To register, or for more information, please visit michiganfranchiseforum.com/registration.php or contact me directly at 810-423-3956 or lbelford@frannet.com.

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Is Franchising Right For You? Free Workshop in Clarkston, MI on February 24

Tuesday, February 24, 2015 | 7:00 PM to 8:30 PM
Clarkston Independence Library | Community Room
6495 Clarkston Road | Directions

Have you been considering business ownership as a career change, a supplemental income source or an additional layer of retirement security? Have you stopped short of looking into franchising because you think it’s all fast food, or it’s too expensive?

Linda Belford, franchise placement specialist from FranNet, will bust some common franchise myths, and enlighten you on the wide-range of categories and investment levels available today. She will also discuss the various entry strategies available in the world of franchising, ranging from single unit owner/operator to semi-absentee investor to regional developer.

You’ll learn whether franchising could be a path for achieving your goals, and if so, how to go about finding the RIGHT fit for you!

Following is a brief outline of the topics covered in FranNet’s seminar:

• General discussion of the reasons that compel individuals to start their own business in the first place.
• A comparison of the pros and cons of starting a business from scratch, buying an existing business or starting a franchise.
• How franchising can provide a desirable alternative to traditional employment by reducing the risk of ownership to an acceptable level through proven business systems, comprehensive training and ongoing support.
• Basic information on franchising, including the range of industry categories, entry and long-term strategies, investment levels and fees.
• The legal regulations governing franchising that protect the buyer.
• A strategic approach to defining your personal business model, quantifying your returns and safely researching and selecting the business opportunity that’s right for you.
• Growth trends and choices in franchising that offer stability and success in weak and strong economies.
• A brief overview of FranNet’s no-fee, no-obligation consulting service is also provided.

Register now by clicking this link - http://michiganfranchiseforum.com/registration.php.  You can also contact Linda at 810-423-3956 or lbelford@frannet.com.

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It’s a Week About Love … Do You Love Your Job?

Valentine’s Day is a week filled with hearts, chocolate, cupid and roses.   Love is in the air.  But, is love in the air at your workplace?  I’m not talking about an inter-office romance; I’m asking do you love your job?

According to a Society for Human Resource Management survey (SHRM), 81% of US employees reported overall job satisfaction with their current job (2013).  This is unchanged from 2012.

Now, this may be a bit surprising.  You might have been expecting a lower satisfaction number.  But, do all of those people truly LOVE their jobs?

WHAT ARE THE KEY COMPONENTS TO JOB SATISFACTION?
The SHRM study reported the top aspects of Job Satisfaction rated as “very important” by employees.  In order, they are:

• Compensation/Pay
• Job Security
• Opportunities to use skills/abilities
• Relationship with immediate supervisor
• Benefits
• Organization’s financial stability
• The work itself

Just the fact that you clicked on the article means that maybe one of the areas listed above could be lacking in the job your currently have.

STARTING YOUR OWN BUSINESS PUTS THOSE FACTORS IN YOUR OWN HANDS
It may take years to reach where you want to be for your current employer.  Like most people, you probably feel under-paid or are seeing their benefits cut.The organization’s financial stability, let alone your job security, are probably being decided by some corporate big-wigs sitting in another building.  Are you in a rut, not being utilized to your full potential, dealing with a boss you just can’t stand?

Starting your own business puts these factors in your own hands.  If you want to be the boss, there is no better relationship with your immediate supervisor – you are the Big Kahuna!  You determine the compensation, benefits, and your job security.  It is hard work, but many people turn owning a business into more of an investment than a job.  Some even own their own business on top of working a ‘9 to 5’ job.

As I alluded to in the previous paragraph, the biggest component to owning your own business is YOU.  You are going to have to want to be in charge, and have to love the field you are in.  This is where your skills, abilities and the work itself come into play.

DO YOU NEED A NEW IDEA TO START YOUR OWN BUSINESS?
Now, you don’t need a revolutionary idea to start your own business.  Did you know that you can actually use another’s already-proven business concept – allowing you to start a business in one of many different industries?  Let me introduce you to franchising.

WHAT ARE SOME OF THE DIFFERENT BUSINESS INDUSTRY CATEGORIES?
ADP is the company that provides HR, payroll time, tax and benefits administration services to businesses across the world.  ADP releases an employment report monthly that covers a number of jobs in the country.  For franchise jobs, here are the different industries they list:

• Auto & parts dealers
• Building materials and garden equipment and supplies dealers
• Food retailers
• Real estate
• Rental
• Restaurants
• Gas stations and auto repair
• Business services
• Education
• Accommodation
• Leisure
• Manufacture
• Other
• Personal services
• Personal care retailers
• Professional, scientific and technical services

Odds are, if you can think of it, there is a franchise that exists.

DON’T BE AFRAID TO THINK OUTSIDE THE BOX
Doing what you love is very important, but don’t afraid to explore other business industries.  Sometimes, you might be surprised to find a new love in something you never considered.

And, that’s where I can help!  As a FranNet Consultant, I can introduce you to FranNet’s exclusive matchmaking process.  We take in to account your skills, abilities, financial goals and lifestyle ambitions to connect you to different franchise concepts.  We’ll get to know what you are passionate about – and find the right franchise for you.

LEARN MORE ABOUT FRANCHISING
I also host workshops and webinars to help further introduce you to the world of franchising.  I invite you to learn more about franchising at one of my upcoming FREE events/webinars.

Join me on February 24th in Clarkston, MI for a workshop entitled “Is Franchising Right For You?”  I’ll bust some common franchise myths and enlighten you on the wide-range of categories and investment levels available today.  I will also discuss the various entry strategies available in the world of franchising, ranging from single unit owner/operator to semi-absentee investor to regional developer.  You will learn whether franchising could be a path for achieving your goals, and if so, how to go about finding the right path for you.

For more information on this (and my other upcoming events), please visit michiganfranchiseforum.com.  You can also contact me at 810-423-3956 or lbelford@frannet.com.

CONTACT ME
Are you interested in owning your own business?  Let’s get started on the road to success.  Contact me at the phone number or email address listed in the previous paragraph.

Remember, if you don’t love your job – you should be doing what you love!

http://www.shrm.org/Research/SurveyFindings/Documents/14-0028%20JobSatEngage_Report_FULL_FNL.pdf

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