Start Here Start Now: Indpendnece thru Franchising
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Transcript of Start Here Start Now: Indpendnece thru Franchising
• Today, the number of unemployed is in the tens of millions (around 10%) and in certain demographics it is only rising.
• 80% of those unemployed are over the age of 21
• 70% of jobs created in the past 7 years are part-time or low paying jobs
New Carer Economy: What is it?
You Deserve Better!
• Unemployed senior executives among the hardest hit
• 46% of employable people have been out of work >6 months
• Those >45 – largest slice of long-term unemployed
New Career Economy: How it Effects You
Those with corporate jobs are simply Building Someone
Else’s Wealth!
“Workers in the United States are putting in more hours than anyone else in the industrialized world.”
Lawrence Johnson – chief economist for ILO
For what?
Are we out of our minds?!
Maybe It’s Time For A Change!How’s your career doing?
Are you stuck in the mud?
Are you following the herd?
What Can I Do About It?Get Mad
Make everyone around me miserable Make myself physically ill Burn my bridges
Surrender Hold on until retirement Self talk yourself into a docile lull:
“I only know how to do one thing” “At least I have a job! “ “I can tolerate it” “Someday I’ll be appreciated”
“………. a flat world is one in which the individual worker is going to become more and more responsible for managing his or her own career, risks, and economic security……..”
Thomas L. Friedman author, The World is Flat
Take Ownership of Your Career
Declare Your Independence!
What are the Options For Independence?
• Start a new business
• Buy an existing business
• Invest in a Franchise
What are the Choices? Start Business From Scratch
Owner wears all the hatsExceptionally long work hoursNo supportHigh failure rate (80%)
What are the Choices?
Is it successful? Will you keep the clientele? Will you keep the staff? Cost: 1.5 -2 x the value ( how is the value
determined?) Owner wears all the hats Is the location right? No support
Purchase an Existing Business
Training
Operations
Team
Education
R&D
Brand Building
What is a franchise?
Brand Name
Support
Proven System
Technology
How do success/failure rates compare?
Maybe it’s too risky to invest in
myself…
Department Of Commerce Study: Success rate of Franchises vs.
Independents
Source: Department of Commerce Study
What’s Your Process?
DIY: Wear All the Hats- Start
from Scratch
Internet Overload and Disinformation
Become a Victim of Salesman/Broker
Paralysis by Analysis
Identifying the Right Franchise is Not a Matter of Luck or Chance
OOPS…
Choosing the Right Franchise:Learning and Discovery
Assess opportuntities based on your personal goals; not emotions or rumors.
Keep an Open Mind Understand business “model” Study several models in depth and compare Separate facts/risks from “false” fears
Why A Coach?• On your side • Helps navigate through
confusion/bumps in the road• Sounding board/sees blind spots• Insight to information / resources• Open doors to
• Franchisors: front of the line• Financing: multiple sources• Education Resources
TES Coach!
What Does Coaching Involve?
Clarify your vision Clarify your abilities, skills,
and gaps Guide your discovery of
possibilities Focus on business options
that match YOU! Give objective coaching every
step of the way Hold you accountable to
follow through.
How to Identifythe Right Franchise for you?
Consider:• Income, Lifestyle, Skills, Values
• Interests
• Work Style preferences
• Financial resources
Goals• Income• Life-style• Non-
negotiable Factors
Skills• Past History• Experience• Work-Style
Financial Options• Portfolio• 401(k)• SBA Loan
Business Models• Mobile• Home-Based• Office• Brick & Mortar• Owner
Operator• Semi-
Absentee
Franchise ID Process:Discovery Process
Meet FDs• 2-6
calls
FDDItem 5-7Item 19
Franchisee calls• 3-5
franchisees
Discovery Day• Meet VIPs• Meet
support team
• Visit HQ unit
Franchise Validation Process:Discovery Process
Do You Have What It Takes?
1. Are you self motivated?2. Do you look at the world as full of
opportunity?3. Can you operate with intent?4. Can you admit to what you don’t know?5. Do you understand the relationship
between risk and reward?6. Can you set aside NIH* to follow a proven
system?7. Can you let facts overcome fears?* NIH = Not Invented Here = my way or the highway = arrogance
What Might Keep You From Independence?
Needle in a Haystack Crabs in the Basket Definition of Insanity Closed Mind
FEAR: False Evidence Appearing Real
Will you let these get in the way of your success?
Is It Your TimeTo Step Up and Explore New
Opportunitties with your Coach?
630-779-1573
