Franchising for Executives is a business opportunity that anybody can get involved in if they choose to. In this article, I will discuss how it is possible.
However, I’ve always felt that a business model such as franchising is better suited for people with an entrepreneurial spirit as opposed to somebody who is better suited to be an employee and work a job.
One type of person that franchising can be extremely profitable for is executives. That’s what I want to talk about in this article. Why do franchise opportunities for executives make sense? and if you’re an executive, who is considering starting a franchise, and why? and how can you go about doing that?
This Is Not A Job
I want to point out that having your own franchise is not a job, and although I think most executives know this, it’s important to really go into starting your own franchise with the right mindset. Franchise owners have an entrepreneurial spirit that they use to work for themselves and reap the benefits of being self-employed.
You are your own boss. You control your own success. Most executives already know this, and already have many of the qualities needed to break away and start their own franchise.
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Why Franchising?
Thanks to the Internet there are many ways to make money and there are many ways to start your own business. Franchising offers some benefits that executives find attractive.
1. You Are In Business…
For yourself, but not by yourself. One of the great things about franchising is working with a company that provides you with everything you need to be successful.
This means that they already have established a blueprint for success. They have products and marketing tools in place. You just have to take the ball and run with it so to speak.
2. Funding. Do you have the needed funds to buy a franchise? Do you have the needed funds to live on while your franchise is becoming profitable?
Executives are better equipped to live off of their saving while their new franchises are becoming profitable. They also are better equipped to borrow the money needed because they often have a portfolio that includes existing assets needed for collateral if they are borrowing the start-up funds.
Some franchises will loan executives the money needed to get started. Others will offer counsel on how to find the money you need.
At Executives Franchising, they require a minimum of $50K to get started. They offer training on how to access your 401K for the money you need if you have one.
3. Categories. Franchising is not, unlike blogging, in that you can find one to start a niche you are an expert at or have an interest in.
Examples of categories of franchises that are available to buy include…
- Advertising/Direct Mail Franchise
- Automotive Franchise
- B2B Products/Services Franchise
- Children’s Education, Services & Activities
- Financial/Tax Services Franchise
- Home Based Business
- Home Services and Home Improvement
- Mobile Coffee & Smoothie
- Print, Design & Promotional Products
- Professional Business Coaching
- Repair & Restoration Franchise
- Retail/Mall Based/Specialty Retail Franchise
More Franchise Businesses That Are Growing Today
Like…
- Healthcare/Medical Franchise
- Senior Care Franchise
- Sign & Graphics Franchise
- Sports/ Fitness/Health/Nutrition
- Popcorn Franchise
- Commercial Cleaning Franchise
- Pest Control Franchise
These are just a few ideas. If you have something in mind, chances are you can find a franchise to buy.
4. Fast return. Your return on investment, or ROI, can be very quick in a franchise. This is another reason why executives turn to this business model as a way to start their own business.
One of the reasons for this is the larger margins that come from running a well-known brand franchise, which most are. People expect to pay more for a brand product they are familiar with because the perception is they are getting a better product than an unknown brand.
Having a fast return on your money allows you to pay off your startup loan costs quicker as well. This puts more money in your pocket to do as you please.
Getting Started
At this point, you may be wondering what are the steps to get started in franchising. Let me lay out what you should do next.
1. Research. Of course, the Internet is great for this. I have come across some very good websites for researching franchising.
Forbes did a good article on this titled “Looking to Buy a Franchise? Here’s How to Start“. It lists the best and worst franchises to buy.
2. Attend franchise events. I really like this idea because you can meet people who own franchises as well as people selling them. The International Franchise Expo in New York is a good one to attend. Of course, you can and should look for local events as well.
3. Franchises for sale. Biz Buy Sell has a great website and blog on buying and selling franchises. You may be able to buy an existing franchise or find info on starting your own from scratch.
4. Flippa.com. I just want to make you aware of another possible source of starting a business.
Flippa is not a franchise website, but it does sell websites of all sizes, shapes, and prices. In fact, they make over $5 Million Dollars a month in website sales.
This is a way for executives and anyone interested in starting an Internet business to get started with a website that is already up and running. There are benefits to this over franchising if you are interested.
How To Begin Franchising
Is franchising too big to start? Some people like myself started off small. I need the time and freedom to get my franchising business up and running so I started Affiliate Marketing which I can earn an income from home helping me to quit my full-time job so that I can investigate my Franchising business.
I join this community of like-minded people who help me with what approach to take, and I am glad that I did. I understand more about approaching my business from a different perspective than before. I would recommend this community to anyone before venturing into any business of their choice.
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Hello David,
This was a really thorough article on the concept of franchising. I have to admit that it is daunting the amount of outlay up front. But when you know the return is so high, that is only a temporary dilemma. So what are you considering as an option?
in peace and gratitude, Ariel
Hi Ariel, thank you for stopping by and leaving a comment. Yes, it is thorough cause I have gone through this process a few times. What I have tested and found the best approach is to attend Franchise events. Here you will be able to meet with people who own franchises as well as people selling them.
If you find that this is a little high to start out, you can begin with Affiliate Marketing as I mention. Here the startup cost is low and the training can be very useful if you decide to follow up with franchising at a later time. Hope this helps.
Hi Lazybloggr; I have read through your post on Franchising for executives. I can see that you have explain a lot.
If you are suggesting that Executives can borrow the start up funds for Franchising, which reads $50K the turnover must be very attractive, is that so?
Are you certain that there is no chance of loosing the investment?
DorcasW
Hi DorcasW, glad you left a comment and have concerns. Here in New York, fanchising is being done on a regular basis and the failure is little or next to none. A lot of investors look into their track record going through the need and the trend of the market.
Is a win for the investors as well, so they will know firsthand if to lend the $50k or not. Thank you for stopping by, take care.
Great article! My father started a franchise as a second career after he retired from corporate America. You are so right that it’s not something to just jump into, as it requires an intense amount of research to confirm that you have made the right selection. I also think that franchising offers an opportunity to explore fields that you may have otherwise not be exposed to otherwise. Do you think people succeed better in new ventures or in market segments that are familiar to them?
Glad that your father made that choice after he retired. Getting it of the ground is always need careful planning and lots of work. But once that is done, the rest is just daily routine to build a successful business. Affiliate Marketing is the same way. Set it/Forget it and maintain it.
It is always better to choose something where your passion lies, but whatever the business is, if you do the ground work, the results would be the same. Hope that helps and that your father is doing well. Take care.
Thank you for sharing David! I could agree more a franchise is a great way to own some of the biggest brands in America. You dont have to worry about trying to build your business from scratch . The only thing i find difficult is trying to find the right investors to fund it. Every franchise usually wants a large sum of money in cash.
Silvano, glad that you see franchising is a big business and continue to prove as a reliable business built for success. You always get shaky with the second or third one, but after that, it becomes a no-brainer.
Like I said, after the franchise has proved itself after two or three outlets, investors would be kneeling at your feet to be part of it. So to answer you question, you don’t have to go looking for investors, they will come looking for you. Talk to you soon.
Cheers!
I was curious about this article for two reasons. One my boyfriend owned a Rita’s Franchise for seven years and hated every moment.
Yes it was his business and he could make the rules but he was still under Rita’s Corporate thumb where he had to pay his fees monthly and get inspected by a Rita’s District Manager. Granted not all franchises are like that but it is something to think about when you do not want to answer to anyone.
The second reason is my boss wants to franchise his business and I was curious on the steps on how to do that. Do you have any information about this?
Traci, sorry about your husband ordeal on franchising. When you under a contract, although the business belongs to you, there are still guidelines that you have to follow, just like a job.
You boss is making a big step to franchising his business and can turn out to be a success for him, my advise is to contact Mc. Grow, they will handle all necessary procedures. just make sure he has a good lawyer on his side. Here is the information: http://www.mcgrow.com/. Hope that helps!
Hi David,
I have not heard about Franchising before and from your post am getting to learn that it can be a good business which needs time to mature.
I wonder how long have you been involved in this business, is there any formal training on how to start Franchising? How long does it take for it to mature and become profitable?
Dave, i have been involve with Online and Network marketing for over 20 years with different programs. Wealthy affiliate being my latest.
All your questions on Franchising can be answered here. http://www.mcgrow.com/. Hope that helps!
I have always thought about franchising every now and again, but some of these big businesses would ask for a lot of collateral just to get started. I also thought about starting a business that I can turn into a franchise eventually, but again it is a lot of work especially for someone working full-time. What would you suggest I do since I still have a full-time job?
It is good that you thought about franchising, and that is something that you can get help with, cause the task is a huge one.
Having to work full-time and carry bout this task is going be very difficult, my suggestion is to take a leave of absent from your job at the beginning stage, or use an affiliate marketing part-time to supplement your full-time job, to keep a steady flow of income. And then later you can go full-time with your franchising endeavors. Hope that helps.
Great post and for me it is something I’m kind of afraid for.
Franchising seems to be good, but it is an investment.
And when it comes to that, I’m afraid to lose money instead of winning it.
So you have a suggestion which kind of niche/category is the safest?
Thanks for your post!
Hey Emmanuel, I guess I am on the same page with you when come to franchising. A business partner ask me about this a few hears back and I directed him as to what angle to take, now he has one of the franchising business in new York and about to open another one. So it can be a great success to some, if they follow the guidelines I laid out in this article.
Maybe, down the road after several niche websites I may think of looking into a franchise business, which can provide employment to some. Thank you for the comment.
Hi Bishop,
I was really interested in your article about Executives franchising.
You have obviously spent a lot of time researching.
I am curious, do you have a franchise or are you thinking of getting one?
My understanding of franchise, whilst you do get a lot of support from a head office, is that it is extremely hard work and probably very close to having a job!
I also believed that return of investment with franchise is normally 4 to 6 years. Is that correct?
Look forward to hearing your thoughts.
Tim
Tim, i was about to open one about 5 years back, so i did my due diligence by researching and taking the classes and educating myself. Then I hook up with a company and went through the preliminary process before I came to the final decision. What i was looking for is how do I get my franchise to the public so i decide to search, and that is when I stumble on Wealthy Affiliate. No, I did not follow through with it, as yet!
Like any business is always good to give it about 5 years, but with Franchising, the profits is huge, so it worth the time if you set it up right. I am attach to Affiliate Marketing but my passion is serving the public in person with a franchise store. Thank you for your concerns.
Thanks David,
You did a very nice work in this article, am so happy, am privileged to read it, I have not really taken time to give a second taught to franchising, your article has help changed my perception toward it, I think it a nice one!
Most of the big companies that sell franchise are mostly in the Western part of the world, I mean the good ones; Do you think getting involved from a far away land like Africa is possible? I will appreciate if you give more info on how one can get involved without attending their gatherings and loose his hard earn money as well.
However, the online money making outlets available are numerous but only few are actually genuine.
I will be expecting a reply from you if this will really make me a fortune.
Thanks
Azogor, when you have a passion for something, sharing it with your audience would be very easy and complete that your readers would understand. thank you for the comment and kind words.
In this article I give you links on how to go about franchising and what companies you should contact. I even send you a link to the best franchising business that you should stay away from. i even include the prices as well. In case you miss these links, here they are again.
https://www.forbes.com/best-wo…
https://flippa.com/
Hope these sites would answer your questions and concerns.
Thanks for your interesting comments on going the franchise route. I was in that decision mode a few years back, but went with a direct asset purchase. Ended up being a bad decision, you bring up the important point of proven business models.
Hey Bill, glad that get some real value here and sorry to hear of your bad decision on choosing asset purchase. Although I have heard that it turn out to be good for some people, others had negative vibes as well. Like I said going the events and educating yourself would be a wise choice, I know some had used Flippa for guidelines. Thank you for the feedback.
Having been someone who has looked at franchising over the years I would very much agree that it is ideal for executives. There are so many franchises out there but the big names are out of the reach of many.
You have thouroughly explored the whole idea of franchising and explained it very well. I like the way you have pointed out that franchising is not a job.
Derek
Derek, thank you for your honest take and the diversification of franchises. As someone who almost got into it, I must agree with you that it is for executives and there are many that are hard to reach.
Glad that I made the Affiliate Marketing choice and rid myself from the dedication and lots of hours by owning a franchise. Thanks for the input.
A very interesting article David. I’ll be honest. I’ve been under the impression that traditional brick and mortar franchising was not very present any more in this digital age. It sure seems that way out here in northern California. I assume that if there are brick and mortar franchises available that they include a well developed local business website. Do digital franchising opportunities exist?
Nice website by the way.
Hey Dennis, you would be surprise at the amount of Franchise is still available today. And there are some that the average Joe would not even have chance to explore.
Yes, the opportunities for digital franchising is very much available. Learn more about it here. And building a website is also a service that one can provide for these franchises.
Thank you for the comment.
Hello David,
Thanks for this very enlightening article about Franchising.
After going through the various truly incredible advantages of franchising, this is definitely a road I will like to take, so thanks for going further to share the guide to this.
I really agree with you networking with other people undergoing similar business ventures, is definitely a step in the right direction.
Flippa sounds interesting, I might just check it out.
Thanks for this
Etah, thank you for the comment. Today a lot of people are focusing on franchising cause their job is not meeting the demands.
Lot of people go the stocks route and finding out that it is too risky after hearing of a few scams in investing your money in the stock market.
Yes, Flippa is a good place to get all the knowledge you will need to go about it the right way. all the best.
Hi David,
I absolutely love what I read in Franchising for Executives which have me thinking down the road. Although the money is huge to begin, starting with affiliate marketing is a good way to begin to raise money for your franchise.
This article because it is full of great information, and I like how you give the different businesses that are booming today. I can definitely resonate with health and fitness, and branch of the home-based business. This is fascinating and interesting to me. Am hearing franchise for the first time in areas that I never considered, and I am developing more interest in investing in t.
Your article has shown some ways to go about franchising, and I appreciate you take the time to share this. Is there any training on starting a franchise? How do I get the right investors to invest with? thanks for the review and I look forward to hearing back from you.
Yes, more people today are getting into franchising, than investing in stocks, and they are using affiliate marketing to get them there.
Following your passion is the best approach, but buying a successful one is also booming today, cause businesses are being sold on a regular basis.
The best place to go when you ready to educate yourself about franchising is the article that I mention from Forbes, they list the best and worst Franchise to buy in 2018. Hope that helps!
This is a lovely tip about franchising. I am just getting to know about this source of income which I consider to be an eye-opener for me. From your article, I concluded franchising is a great route for people looking for a way of earning money from home without a boss. All you need is your computer and a lot of time and effort.
Franchising is a big business and today people are following their passion and buying profitable franchises that are available in the market.
Investing in stocks is not going well with certain people and they are moving into the franchising business and are seeing better results, especially when more family members coming together to make it a success. I am` definitely going to be going that way in the near future.