The Great American Franchise Blog

The Truth About Business Credit: How to Build and Use It Wisely

sales@latitudepark.com (Rusty Rich) — Wed, 26 Mar 2025 14:28:36 GMT

Unlocking the power of business credit to grow your company, increase funding opportunities, and protect your personal finances.

When it comes to running a successful business, cash flow and funding are often top of mind. But one of the most overlooked tools in the entrepreneur’s toolbox is business credit —a powerful resource that can unlock capital, reduce risk, and help your company grow on its own financial merit.

At The Money Expo , we’re committed to empowering entrepreneurs with the knowledge and tools to take control of their financial futures. Whether you’re launching a startup, scaling an established company, or exploring franchise opportunities, understanding how business credit works—and how to build and use it strategically—can open doors that personal credit alone cannot.

In this guide, we’ll walk you through the real story behind business credit: what it is, why it matters, how to build it from scratch, how to protect it, and how to leverage it wisely for sustainable business growth.

What Is Business Credit?

Business credit is a financial profile attached to your company , separate from your personal credit score. It reflects your business’s ability to borrow money, pay vendors, and manage debt responsibly.

Just like individuals have credit reports from agencies like Equifax, Experian, and TransUnion, businesses have credit profiles tracked by agencies like Dun & Bradstreet , Equifax Business , and Experian Business .

Key metrics in your business credit profile may include:

Payment history
Credit utilization
Business size and longevity
Public filings (e.g., bankruptcies, liens)
Number of trade accounts

A solid business credit profile shows lenders, suppliers, and partners that your company is trustworthy and capable of managing its finances.

Business Credit vs. Personal Credit: What’s the Difference?

Many new entrepreneurs rely on personal credit to fund their businesses, especially in the early stages. It’s often faster, familiar, and accessible. But as your company grows, continuing to use personal credit for business expenses can come with serious limitations—and risks.

Personal credit is tied to your Social Security Number , while business credit is linked to your company’s Employer Identification Number (EIN) . When you rely on personal credit, any missed payments or high balances can negatively impact your individual credit score—making it harder to qualify for loans, credit cards, or even housing in your personal life.

In contrast, business credit allows you to build a financial identity that belongs solely to your company. It helps you qualify for business-specific financing , such as lines of credit, loans, and corporate cards, without putting your personal credit on the line. It also boosts your credibility with vendors , many of whom offer trade terms like net 30 or net 60 only to businesses with established credit profiles.

Perhaps most importantly, using business credit allows you to separate your personal and business finances , which is essential for accurate bookkeeping, tax reporting, legal protection, and long-term financial health.

The Benefits of Building Strong Business Credit

There’s a reason smart business owners and franchisors prioritize their business credit profiles. Here are some of the top benefits:

1. Access to Capital

Good business credit increases your chances of qualifying for business loans, lines of credit, and corporate credit cards—often with better terms and higher limits.

2. Better Vendor Terms

Suppliers may offer net 30, 60, or even 90-day terms when you have strong credit, giving your business time to generate revenue before paying for inventory or services.

3. Lower Interest Rates and Insurance Premiums

Just like with personal credit, a solid business credit score can help you qualify for lower interest rates and even reduced insurance premiums.

4. Business Credibility

A strong credit profile signals to vendors, partners, and investors that your business is stable and responsible with money.

5. Protection for Your Personal Finances

By building business credit, you can limit the need for personal guarantees and reduce personal liability for business debts.

Step-by-Step: How to Build Business Credit from Scratch

Whether you're brand new or already operating, here’s how to start building (or improving) your business credit profile:

1. Establish Your Business as a Legal Entity

To separate personal and business credit, you need to form a legal entity such as an LLC or corporation and register it with your state.

2. Get an Employer Identification Number (EIN)

Your EIN is like a Social Security Number for your business. It’s required to open business bank accounts, apply for credit, and file taxes.

3. Open a Business Bank Account

Maintain a dedicated checking account for your business to manage income and expenses. Consistency here is key for demonstrating legitimacy.

4. Get Listed with Business Credit Bureaus

Register your business with Dun & Bradstreet and obtain a D-U-N-S Number. Make sure your business information is consistent across all platforms.

5. Establish Trade Lines with Vendors

Start small by working with vendors who report payments to credit bureaus. These might include office supply companies, wholesale distributors, or utility providers.

Examples of vendors that report include:

Uline
Quill
Grainger

6. Apply for a Business Credit Card

Look for a card that reports to business credit bureaus. Use it responsibly—pay it off monthly and keep your utilization low.

7. Pay On Time (Or Early!)

Your payment history is the single most important factor in your business credit score. Set up reminders or auto-pay to avoid missed payments.

Common Mistakes That Hurt Business Credit

Even well-meaning entrepreneurs can unintentionally damage their business credit. Here are a few pitfalls to avoid:

❌ Using Personal Credit for Business Purchases

This not only muddies your financial records but can also hurt your personal score if cash flow fluctuates.

❌ Applying for Too Much Credit Too Fast

Each credit application can trigger an inquiry. Too many in a short period can appear risky to lenders.

❌ Ignoring Errors on Your Credit Reports

Just like with personal credit, errors happen. Monitor your business credit reports regularly and dispute any inaccuracies.

❌ Letting Old Accounts Close

Older credit accounts boost your business credit history. Keep long-standing accounts active, even if you use them sparingly.

How to Use Business Credit Wisely

Building business credit is just the beginning. Here’s how to use it strategically:

✅ Use It to Grow—Not Just to Spend

Smart business owners use credit to invest in revenue-generating activities, like marketing, inventory, or expansion—not luxuries or liabilities.

✅ Keep Utilization Low

Aim to use less than 30% of your available credit at any time. High utilization can hurt your score, even if you pay in full.

✅ Monitor Your Scores Regularly

Check your scores with Dun & Bradstreet, Experian Business, and Equifax Business. Many services offer monthly monitoring and alerts.

✅ Build Relationships with Lenders

If you plan to seek larger loans or lines of credit, having a track record with banks or lenders will help. Start small and grow the relationship over time.

✅ Use Credit to Leverage Opportunities

Strong business credit can help you negotiate better terms, secure early payment discounts, and compete for contracts that require financial stability.

Business Credit and Franchising: A Game-Changer

If you're exploring franchise ownership—a major theme at The Money Expo—business credit is even more essential.

Many franchisees need to secure funding for:

Franchise fees
Equipment
Build-out costs
Marketing

With solid business credit, you can qualify for financing faster and with less personal risk . Plus, franchisors often look for financially stable candidates when awarding new territories.

Tools & Resources for Building Business Credit

Here are a few resources to help you get started:

Dun & Bradstreet – www.dnb.com
Nav – Offers credit monitoring and funding tools for small businesses
CreditSafe – Business credit scores and insights
Experian Business Credit Reports – www.experian.com
SBA Lender Match – Tool to connect you with vetted lenders

The Future of Business Credit

As digital tools and financial platforms evolve, business credit is becoming more transparent, more accessible, and more essential . Fintech lenders, B2B platforms, and even some suppliers are now using AI-driven credit scoring to make real-time decisions.

That means your business’s financial footprint matters more than ever—and it’s never too early to start shaping it.

In a world where access to capital can determine the difference between success and struggle, business credit is no longer a luxury—it’s a necessity .

Conclusion: Build Your Foundation with Confidence

Business credit isn’t just about borrowing money—it’s about building trust, creating financial freedom, and positioning your company for long-term growth . By separating your personal and business finances, establishing a credit profile, and managing it wisely, you give your business the tools it needs to thrive.

At The Money Expo , our mission is to arm entrepreneurs, investors, and franchise seekers with the education and access they need to win in the financial world. Whether you’re just starting out or scaling your empire, understanding business credit is one of the most powerful steps you can take.

Ready to learn more and network with finance professionals, lenders, and franchise experts? Join us at The Money Expo and take control of your financial future—one smart decision at a time.

Financial Literacy for Entrepreneurs: Resources and Tools from The Money Expo

sales@latitudepark.com (Rusty Rich) — Tue, 18 Mar 2025 14:10:12 GMT

Mastering the Money Side of Business: Tools, Strategies, and Insights from The Money Expo

Starting and scaling a business takes grit, passion, and vision—but to succeed long term, entrepreneurs also need something just as essential: financial literacy .

Understanding the money side of your business isn't just about knowing how to invoice a client or balance your bank account. It's about confidently making strategic decisions, avoiding costly mistakes, and building a venture that thrives even during economic ups and downs.

At The Money Expo , we bring together financial experts, funding partners, and business educators to help entrepreneurs like you sharpen their financial acumen. Whether you're just launching or looking to grow, mastering financial literacy is a non-negotiable skill—and this guide will give you a powerful head start.

What Is Financial Literacy (and Why It Matters for Entrepreneurs)?

Financial literacy is the ability to understand and manage personal and business finances effectively. It includes everything from basic budgeting to interpreting financial statements, forecasting cash flow, and evaluating risk.

For entrepreneurs, this knowledge translates into:

Confident pricing and revenue planning
Strategic use of capital and debt
Smarter hiring and operational investments
Faster growth with less waste

Without financial literacy, even the most promising businesses can fall victim to poor planning or unseen money leaks. With it, you gain the clarity to make smart, data-backed choices that keep your business moving forward.

Core Financial Concepts Every Entrepreneur Should Know

You don’t need to be a CPA, but there are certain key financial principles every business owner should understand:

1. Cash Flow vs. Profit

Many entrepreneurs mistake profit for cash flow. In reality, a business can be profitable on paper but run out of cash and fail. Understanding how money moves in and out of your business helps you manage expenses, plan for slow seasons, and avoid surprise shortages.

2. The Three Key Financial Statements

Profit & Loss Statement (P&L): Shows revenue, costs, and profits over time.
Balance Sheet: Summarizes assets, liabilities, and equity at a specific point.
Cash Flow Statement: Tracks the actual movement of cash in and out.

Together, these statements offer a full view of your business’s financial health.

3. Break-Even Point

Knowing how much you need to earn to cover all your costs helps you set realistic sales goals and pricing strategies.

4. Gross Margin & Net Margin

These metrics help you understand how much profit you're actually keeping from each sale after costs.

5. Budgeting & Forecasting

Smart financial planning isn’t just looking backward—it’s about projecting ahead. Entrepreneurs should create monthly and quarterly forecasts to guide growth and spending decisions.

Why Entrepreneurs Struggle with Financial Literacy

Most business owners start because they love their product, skill, or service—not because they love spreadsheets. But financial blind spots are more common (and more damaging) than most people think.

Common challenges include:

Lack of formal financial education
Avoidance or anxiety around money
Time constraints that push numbers to the back burner
Over-reliance on accountants without understanding reports

This is why events like The Money Expo are critical. They help entrepreneurs shift from passive observers to proactive financial leaders.

Top Financial Tools for Business Owners (Many Featured at The Money Expo)

One of the best ways to improve financial literacy is by using the right tools. Here are some of the most powerful platforms and software solutions that simplify financial management for entrepreneurs:

1. QuickBooks or Xero

Bookkeeping software that helps you track income, expenses, and generate financial reports automatically.

2. Wave or FreshBooks

Affordable, beginner-friendly options for invoicing, expense tracking, and basic financial insights.

3. LivePlan

A planning and forecasting tool designed specifically for entrepreneurs, making it easier to model scenarios and build strategic budgets.

4. Gusto or ADP

Payroll services that help you manage employee compensation, taxes, and compliance.

5. Bench or Pilot

Bookkeeping services that combine software with real human support.

Many of these tools are demonstrated at The Money Expo , where you can ask questions, see demos, and compare features side-by-side.

Free and Low-Cost Financial Education Resources

You don’t need to spend a fortune to level up your financial skills. Here are some valuable platforms that offer courses, templates, and tutorials:

1. SCORE.org

Free business mentoring and financial planning templates.

2. SBA.gov

Educational tools and calculators for business owners.

3. Coursera and Udemy

Online courses on financial literacy, accounting, and business finance.

4. Your Local SBDC (Small Business Development Center)

Often offers free workshops and one-on-one consulting.

5. Podcasts and YouTube Channels

Look for shows hosted by financial professionals who break down complex topics in plain English.

Building a Financial Support Team

You don’t have to do everything alone. Financial literacy also means knowing when to ask for help—and who to turn to.

Key players include:

Accountants: Tax prep, compliance, and insight into your financial statements.
Bookkeepers: Day-to-day recordkeeping and categorizing transactions.
CFOs or Fractional CFOs: Strategic financial guidance for larger decisions.
Business Coaches: Help integrate financial goals with broader business strategy.

Events like The Money Expo are a great place to meet vetted professionals and build your financial dream team.

Real-World Stories: Financial Literacy in Action

Case Study 1: The Overwhelmed Founder

Maria started a popular catering business—but her pricing didn’t account for overhead or seasonal slowdowns. After attending a workshop at The Money Expo, she learned to read her P&L, adjusted her menu pricing, and built a six-month cash reserve that stabilized her business.

Case Study 2: The Scaling Tech Startup

Jordan was scaling a SaaS platform and relied entirely on investor cash without clear forecasts. After engaging with a CFO panel at The Money Expo, he adopted LivePlan, created revenue models, and extended his runway by 12 months with smarter cash flow management.

These stories aren’t unique—they’re the norm. Financial clarity empowers smarter growth.

The Emotional Side of Financial Literacy

Money isn’t just math—it’s emotional. Entrepreneurs often deal with:

Imposter syndrome when they don’t understand the numbers
Fear of facing financial realities
Anxiety around debt or cash shortfalls

Improving your financial literacy builds confidence. It turns avoidance into empowerment. When you know where your money is going—and why—you feel more in control.

How The Money Expo Helps Entrepreneurs Thrive Financially

At The Money Expo, financial education is more than a side session—it’s a core mission. Through workshops, live demos, expert panels, and networking opportunities, we give entrepreneurs hands-on access to the knowledge and resources they need to grow stronger businesses.

At The Money Expo, you’ll find:

Workshops on pricing, budgeting, and forecasting
Live software demos to find the right tools for your business
Q&A with financial advisors, CPAs, and funding experts
Connections to financial institutions and lenders
Real-world education that makes numbers feel less intimidating

Whether you're bootstrapping your first venture or scaling a multi-location brand, The Money Expo helps you think—and act—like a financially confident CEO.

Final Thoughts: Empower Your Business with Financial Literacy

Numbers tell the story of your business. The more fluently you speak their language, the more confidently you can lead, grow, and adapt.

Financial literacy is not a destination—it’s a muscle you build over time. And with resources like those found at The Money Expo , you don’t have to go it alone.

Show up. Ask questions. Get curious about your numbers. When you do, you’ll unlock not just financial stability—but the freedom and clarity that entrepreneurship is all about.

Building a Strong Financial Foundation for Your Business from Day One

sales@latitudepark.com (Rusty Rich) — Wed, 19 Feb 2025 19:39:39 GMT

Expert Tips on Setting Up Your Business’s Financial Infrastructure for Long-Term Success

Starting a new business can be an exciting and rewarding endeavor. But as any seasoned entrepreneur will tell you, one of the most important elements for long-term success is ensuring that you build a solid financial foundation from the outset. Whether you’re launching a startup or expanding an existing company, establishing strong financial practices early on can set your business up for success and reduce the risk of financial setbacks down the road.

At The Money Expo , we believe that understanding and managing your business finances is key to making smart decisions, attracting investors, and ensuring sustainable growth. In this post, we will guide you through the essential steps for building a strong financial foundation for your business, from creating a comprehensive budget to setting up effective accounting practices and managing cash flow. By taking these steps, you will lay the groundwork for a financially sound business that can thrive over the long term.

1. Start with a Comprehensive Business Plan

Before you dive into managing the day-to-day finances of your business, it’s essential to create a comprehensive business plan that outlines your financial goals, strategies, and projections. A solid business plan acts as the blueprint for your business’s financial health and helps you align your financial decisions with your overall vision.

Why a Business Plan is Crucial for Financial Success:

Clear Financial Goals: A business plan helps you define short- and long-term financial goals, including revenue targets, profitability objectives, and funding needs.
Investor and Lender Confidence: Whether you're seeking financing from investors or banks, a detailed business plan provides proof of your business’s potential for success. It demonstrates that you understand your financial needs and have a clear strategy for achieving profitability.
Risk Management: By outlining potential risks and your financial strategies for addressing them, your business plan prepares you to navigate uncertainties, such as economic downturns or unexpected expenses.

What to Include in Your Business Plan:

Market Analysis and Financial Projections: Provide detailed insights into your market, target customers, and competitors, along with realistic financial projections for the first few years of business. This should include estimated income, expenses, and profitability.
Funding Requirements and Use of Capital: If you’re seeking external funding, outline how much capital you need and how you plan to use it. This helps investors and lenders understand your financial requirements and the potential return on investment.
Revenue Streams and Pricing Structure: Detail your pricing strategy and how you plan to generate revenue. Whether you rely on product sales, subscription services, or a combination of revenue streams, having this clearly defined will help guide your financial decisions.

2. Set Up Proper Accounting and Financial Systems

One of the most important steps in building a strong financial foundation is establishing reliable accounting systems from day one. Proper accounting practices help you track your income and expenses, ensure tax compliance, and provide valuable financial insights that can guide your business decisions.

Choosing the Right Accounting System:

Manual or Software-Based: For small businesses or startups, you can start by manually tracking your expenses and income. However, as your business grows, investing in accounting software will streamline the process and save time. Tools like QuickBooks, Xero, or FreshBooks are popular choices for businesses of all sizes.
Hire an Accountant or Bookkeeper: As your business expands, you may want to hire an accountant or bookkeeper to manage your finances. An experienced financial professional can ensure accuracy, help with tax filings, and provide expert advice on managing your financial health.

Key Areas to Focus On:

Chart of Accounts: Set up a chart of accounts that categorizes all your income and expenses. This helps track cash flow, manage expenses, and create financial reports.
Invoicing and Billing: Ensure that you have a clear invoicing system in place, whether it’s through software or a manual system. Timely invoicing ensures that you get paid on time, which is essential for maintaining cash flow.
Tax Planning and Compliance: Understand your tax obligations early on. Set aside money for taxes, file your taxes on time, and keep track of tax-deductible expenses.

By setting up solid accounting systems from day one, you can avoid financial pitfalls and position your business for growth.

3. Create a Realistic Budget

A well-crafted budget is one of the best tools for managing your business’s financial health. A budget helps you plan for both expected and unexpected expenses, allocate resources effectively, and make data-driven financial decisions. For new business owners, sticking to a realistic budget is one of the most important factors in staying financially stable.

Why Budgeting is Essential:

Control Over Cash Flow: A budget helps you track income and expenses, giving you better control over your cash flow. By keeping your spending within your budget, you ensure that you have enough funds available to cover essential business costs.
Avoiding Overspending: Startups and small businesses often face financial strain when owners underestimate costs or overestimate revenue. A solid budget helps you avoid this common mistake by outlining realistic expectations for both sides of the equation.
Financial Flexibility: Budgets help businesses plan for both growth and unforeseen challenges. With a solid financial plan, you can pivot if necessary and make informed decisions when opportunities or obstacles arise.

How to Create a Business Budget:

Identify Fixed and Variable Costs: Start by categorizing your expenses into fixed costs (e.g., rent, utilities, salaries) and variable costs (e.g., raw materials, marketing expenses). This helps you understand your core financial obligations and where you have flexibility.
Estimate Revenue: Make realistic projections for your revenue, based on market research, your business model, and industry trends. Be conservative with your revenue estimates, as it's better to overestimate expenses than to underestimate income.
Allocate Resources Wisely: Set clear priorities for your spending. Decide where to allocate funds for growth, such as marketing, product development, or hiring staff, while still leaving room for contingencies.
Monitor and Adjust Regularly: A budget is not a one-time task. Continuously monitor your financial performance and adjust your budget as needed based on changing circumstances, such as new expenses, revenue shifts, or unforeseen financial challenges.

4. Establish a Cash Flow Management Strategy

Effective cash flow management is essential to ensure your business has enough funds to operate smoothly. Cash flow refers to the money flowing in and out of your business, and managing it effectively is key to maintaining financial stability.

Why Cash Flow Management is Crucial:

Avoiding Cash Shortages: Businesses often struggle when they don’t have enough cash to cover day-to-day expenses, such as payroll or supplier invoices. By forecasting and managing cash flow, you can avoid these shortages and ensure smooth operations.
Timing Payments and Receivables: Managing cash flow helps you time payments and receivables efficiently. For instance, you can adjust your invoicing practices to ensure you get paid on time or negotiate with suppliers to extend payment terms.
Planning for Growth: Proper cash flow management allows you to plan for expansion by allocating funds for growth initiatives, such as hiring employees, purchasing new equipment, or launching marketing campaigns.

How to Manage Cash Flow Effectively:

Cash Flow Forecasting: Create a monthly or quarterly cash flow forecast to predict your income and expenses. This helps you plan for both expected and unexpected financial needs, ensuring that you always have enough working capital.
Monitor Receivables and Payables: Keep track of customer payments and your own bills. Implement a system for following up with overdue invoices to ensure timely payments, and monitor supplier bills to avoid late fees.
Maintain a Cash Reserve: Set aside a portion of your earnings as a cash reserve for emergencies. Having an emergency fund ensures that you can weather financial storms, such as a temporary dip in sales or unexpected expenses.

Tools for Cash Flow Management: There are several software tools designed to help businesses manage their cash flow effectively. Platforms like QuickBooks, Xero, and Wave allow businesses to track income, expenses, and projections, making it easier to keep tabs on cash flow in real time.

5. Plan for Taxes and Compliance

Proper tax planning is critical to avoid surprises and stay compliant with local, state, and federal regulations. Many new business owners overlook the importance of taxes, which can lead to costly penalties or missed opportunities for tax savings.

Why Tax Planning is Vital:

Avoiding Penalties: Failing to file taxes correctly or on time can lead to penalties and interest charges, which can harm your financial standing. Proper tax planning helps you avoid these pitfalls and stay in good standing with the IRS and other authorities.
Maximizing Deductions: With tax planning, you can take advantage of all available deductions, such as business expenses, depreciation, and other tax-saving opportunities. This can reduce your taxable income and ultimately lower your tax burden.
Ensuring Long-Term Sustainability: Properly managing your taxes ensures that your business can continue to grow without the threat of tax issues derailing your progress.

How to Plan for Taxes:

Work with a Tax Professional: If possible, consult with an accountant or tax advisor who can help you navigate the complexities of business taxes. They can help you set up proper tax planning and ensure that you’re taking advantage of all available deductions.
Set Aside Money for Taxes: Create a separate account for tax savings, so you’re not caught off guard when it’s time to file. It’s essential to allocate a percentage of your revenue each month to cover your tax obligations.
Understand Your Tax Obligations: Familiarize yourself with your local and federal tax requirements, including income tax, sales tax, and payroll taxes, to ensure you’re compliant and avoid penalties.

6. Build Relationships with Lenders and Investors

As your business grows, you may need additional capital to fund expansion or other initiatives. Building strong relationships with lenders and investors from the outset will help you secure financing when needed.

Why Relationships Matter:

Access to Capital: Establishing relationships with lenders and investors can give you access to capital when needed. Having a financial partner who understands your business and its needs will make the financing process smoother and faster.
Expert Advice and Support: Investors and lenders often bring expertise and business acumen, offering valuable advice that can help you improve your financial operations and decision-making.

How to Build Relationships:

Engage Early: Begin networking with potential investors, lenders, and business professionals early in your entrepreneurial journey. Attend industry events, such as The Money Expo , to connect with financial experts who can help guide your business.
Communicate Regularly: Keep your investors and lenders informed about your business’s performance and growth plans. Regular updates will build trust and ensure they are supportive when you need financing.

Conclusion: Set Your Business Up for Success with a Strong Financial Foundation

Building a strong financial foundation for your business from day one is essential for achieving long-term success. By following these best practices, such as creating a business plan, setting up proper accounting systems, managing cash flow, and planning for taxes, you’ll ensure that your business is financially sound and prepared for growth.

At The Money Expo , we provide valuable resources, expert advice, and networking opportunities to help entrepreneurs set up and maintain strong financial practices. Take advantage of the Expo to connect with experts, learn new strategies, and gain the knowledge you need to build a thriving, financially secure business.

Start strong, stay informed, and watch your business grow!

The Future of Business Financing: What You’ll Learn at The Money Expo

sales@latitudepark.com (Rusty Rich) — Wed, 19 Feb 2025 18:16:40 GMT

Explore the latest trends and innovations in business financing that will shape the future of entrepreneurship, only at The Money Expo.

As an entrepreneur, one of the most critical aspects of growing and scaling your business is securing the right financing. Whether you're a startup looking for seed capital or an established company seeking to expand, understanding the future of business financing is essential for making informed decisions that will fuel your growth.

The landscape of business financing has been evolving rapidly in recent years. Traditional bank loans are no longer the only option available, and a wave of new technologies and financial products is reshaping the way entrepreneurs access capital. From crowdfunding and fintech innovations to digital lending platforms and venture capital, the future of business financing is diverse, dynamic, and full of opportunities.

At The Money Expo , entrepreneurs will gain invaluable insights into the future of business financing, connecting with experts and discovering cutting-edge financing solutions. In this post, we’ll explore the emerging trends in business financing, what you can expect to learn at The Money Expo, and how these innovations are changing the way businesses secure funding.

1. Crowdfunding: The Democratization of Business Funding

Crowdfunding has emerged as one of the most transformative innovations in business financing. Thanks to platforms like Kickstarter, Indiegogo, and GoFundMe, entrepreneurs can now raise capital from a large pool of individual investors, rather than relying on traditional financing sources such as banks or venture capital firms. This approach allows entrepreneurs to reach a broad audience and gain support for their business ideas.

What You’ll Learn at The Money Expo: At The Money Expo, you’ll have the opportunity to learn about the latest trends in crowdfunding and how it’s being used to finance a wide range of businesses, from tech startups to creative projects and social enterprises. You’ll hear from industry experts and successful entrepreneurs who have used crowdfunding to fund their ventures, offering practical advice on how to run a successful crowdfunding campaign.

You’ll also gain insights into:

Choosing the Right Crowdfunding Platform: Learn about the various crowdfunding platforms available and how to choose the right one based on your business goals and target audience.
Setting Realistic Funding Goals: Understand how to set achievable funding goals and create a compelling pitch to attract backers.
Building a Community of Supporters: Discover how to leverage social media and other digital marketing tools to build a loyal community of supporters who are invested in your success.

Crowdfunding can provide an innovative way for entrepreneurs to finance their businesses, but it requires a strong marketing strategy, clear communication, and a compelling business idea. The Money Expo is the perfect place to learn from experts and network with individuals who have successfully raised capital through crowdfunding.

2. Fintech: Revolutionizing Traditional Financing Models

Financial technology, or fintech , is another key driver of change in the business financing space. Fintech refers to the use of technology to improve and automate financial services, including lending, payments, and investment management. In the realm of business financing, fintech has made access to capital faster, easier, and more efficient than ever before.

What You’ll Learn at The Money Expo : At The Money Expo, you’ll gain insights into how fintech is revolutionizing business financing and creating new opportunities for entrepreneurs. You’ll meet with fintech experts and learn about the various fintech solutions that are available to help businesses access capital, including:

Online Lending Platforms: Discover how online lenders, powered by fintech technology, are providing an alternative to traditional bank loans. These platforms typically offer faster approval times, more flexible terms, and easier access to capital for small businesses.
Peer-to-Peer Lending: Learn about peer-to-peer (P2P) lending platforms, which connect businesses directly with individual investors. P2P lending offers businesses the opportunity to secure funding without going through traditional financial institutions, often at lower interest rates.
Invoice Financing and Supply Chain Financing: Learn how fintech innovations are enabling businesses to secure short-term financing by using their outstanding invoices or supply chain assets as collateral.
Fintech for Equity Investment: Discover how fintech platforms are enabling businesses to raise equity capital by connecting them with a broad network of angel investors and venture capital firms.

With fintech solutions, businesses can access a variety of financing options, often with fewer barriers than traditional lending institutions. At The Money Expo, you’ll learn how to navigate this rapidly evolving landscape and find the right fintech solution for your business needs.

3. Digital Lending Platforms: Speed, Efficiency, and Flexibility

In recent years, digital lending platforms have become a significant player in the business financing world. These platforms leverage technology to streamline the lending process, providing faster approval times, more flexible terms, and greater accessibility for borrowers.

What You’ll Learn at The Money Expo : At The Money Expo, you’ll learn how digital lending platforms work and how they can help entrepreneurs secure the capital they need to grow their businesses. These platforms are transforming the lending process by:

Offering Faster Approval Times: Traditional bank loans can take weeks or even months to process. Digital lending platforms, on the other hand, use algorithms and automated processes to provide quick approval decisions, often within days or even hours.
Providing More Flexible Loan Terms: Digital lending platforms offer a range of financing options, from short-term loans to lines of credit, with more flexible repayment terms than traditional lenders. This flexibility can be particularly beneficial for small businesses that need quick access to cash flow.
Expanding Access to Capital: Digital lending platforms provide access to capital for a wider range of businesses, including startups and small businesses that may not qualify for traditional bank loans. These platforms often use alternative data sources to assess the creditworthiness of borrowers, making it easier for businesses to qualify for financing.

At the Expo, you’ll be able to explore digital lending platforms in depth, learn about the different types of loans they offer, and hear from entrepreneurs who have used these platforms to secure funding for their businesses.

4. Venture Capital and Angel Investing: Traditional but Still Relevant

While new financing options like fintech and crowdfunding are gaining popularity, venture capital (VC) and angel investing remain key sources of funding for many high-growth businesses. Venture capitalists and angel investors provide capital in exchange for equity ownership, often in early-stage startups with high growth potential.

What You’ll Learn at The Money Expo: At The Money Expo, you’ll learn how to approach venture capitalists and angel investors, how to pitch your business idea, and how to negotiate terms that are favorable to both you and your investors. The event offers opportunities to:

Meet with Venture Capitalists and Angel Investors: The Money Expo is a hub for networking, and you’ll have the chance to meet directly with VCs and angel investors who are actively looking for investment opportunities. Learn how to pitch your business to these investors and make a lasting impression.
Understand What Investors Look For: Discover what VCs and angel investors are looking for in a business, including a strong management team, scalability, and a compelling market opportunity. You’ll learn what makes a business attractive to investors and how to increase your chances of securing funding.
Structuring Deals with Investors: Learn how to structure equity deals with investors, including understanding valuations, equity ownership, and exit strategies.

Venture capital and angel investing can provide the funding needed to scale your business, but it’s important to approach these investors with a solid business plan and a clear vision for growth. At The Money Expo, you’ll gain the knowledge and confidence to successfully navigate this traditional form of business financing.

5. The Role of Alternative Financing: From Revenue-Based Financing to Cryptocurrency

The world of business financing is expanding to include alternative financing options , which provide businesses with additional ways to secure capital beyond traditional loans and equity investments. These alternative options can be particularly beneficial for businesses that don’t fit the mold of traditional lenders or investors.

What You’ll Learn at The Money Expo: At The Money Expo, you’ll explore alternative financing solutions, including:

Revenue-Based Financing: This model allows businesses to secure funding based on their revenue projections. Instead of offering equity, revenue-based financing provides capital in exchange for a percentage of future revenue. This option is ideal for businesses that have consistent revenue but may not qualify for traditional loans or equity investments.
Cryptocurrency and Blockchain Financing: As the world of cryptocurrency and blockchain technology continues to evolve, businesses are increasingly turning to these innovations to raise capital. Learn about Initial Coin Offerings (ICOs) and other blockchain-based financing models that are opening up new avenues for business funding.
Asset-Based Lending: For businesses with valuable assets, such as equipment or inventory, asset-based lending provides an option to use these assets as collateral to secure financing.

Alternative financing options can provide businesses with greater flexibility and access to capital, but they often come with their own set of risks and complexities. At The Money Expo, you’ll have the opportunity to learn about these innovative solutions and determine if they are a good fit for your business needs.

6. The Future of Business Financing: What’s Next?

The future of business financing is bright, with new technologies and models emerging all the time. From blockchain and artificial intelligence (AI) to peer-to-peer lending and beyond, the next wave of financing innovations is likely to continue disrupting the traditional financial system.

What You’ll Learn at The Money Expo : At The Money Expo, you’ll hear from experts and thought leaders about the future of business financing. Topics will include:

The Role of Artificial Intelligence (AI) in Business Lending: AI is already being used to streamline the lending process and assess creditworthiness more accurately. Learn how AI can help businesses access capital more easily and quickly.
The Impact of Digital Currencies and Blockchain: With the rise of digital currencies like Bitcoin and Ethereum, blockchain technology is likely to play a larger role in the future of business financing. Explore how these technologies can enable faster, more secure financial transactions.
The Evolution of Venture Capital and Crowdfunding: As new models continue to emerge, both venture capital and crowdfunding are evolving. Learn how these financing models will adapt to meet the needs of businesses in the years to come.

Conclusion: Embracing the Future of Business Financing at The Money Expo

The landscape of business financing is changing rapidly, and entrepreneurs who are aware of the latest trends and innovations are better positioned to succeed. At The Money Expo , you’ll have the chance to explore the future of business financing firsthand, connect with industry experts, and discover innovative solutions that can help fuel your business growth.

Whether you’re looking for traditional financing, alternative solutions, or emerging technologies, The Money Expo provides the resources you need to make informed decisions about how to fund your business. Don’t miss the opportunity to gain valuable insights and make the right financial choices for the future of your business.

Join us at The Money Expo and take the next step toward securing the capital you need to bring your business vision to life!

How to Craft a Winning Pitch for Investors

Mon, 06 Jan 2025 15:45:00 GMT

Secure Funding with a Compelling, Professional, and Memorable Presentation

Securing funding is a pivotal milestone for many entrepreneurs. Whether you're meeting with angel investors, venture capitalists, or pitching at a major event, crafting a compelling and professional pitch can make all the difference. Your pitch is your opportunity to captivate investors, communicate your vision, and demonstrate why your business is worth their time and money.

At The Money Expo , we’re dedicated to empowering entrepreneurs by providing actionable insights, resources, and networking opportunities. In this guide, we’ll walk you through the essential components of a winning pitch to help you secure the funding you need.

Understanding Your Audience

Before you even begin crafting your pitch, it’s crucial to understand your audience. Different types of investors have unique priorities and expectations:

Angel Investors: Typically interested in early-stage startups, they look for passionate founders, innovative ideas, and potential for high returns.
Venture Capitalists (VCs): Often focus on scalability and growth potential. They’ll want to see a clear path to profitability and a sizable market opportunity.
Corporate Investors: May be looking for strategic alignment with their own business goals.

Take the time to research your potential investors. Understand their investment history, preferred industries, and any recent deals they’ve made. Tailoring your pitch to their interests and expectations shows professionalism and can increase your chances of success.

Consider reaching out to fellow entrepreneurs who have worked with your target investors. Their insights can help you avoid common pitfalls and better prepare for investor meetings.

Key Components of a Winning Pitch

A successful pitch combines storytelling, data, and a clear call to action. Here’s how to structure your presentation:

1. Start with a Hook

Your opening sets the tone for the entire pitch. Begin with a powerful hook that grabs attention and sparks curiosity. Consider:

Sharing a compelling statistic about your industry.
Telling a short, relatable story that highlights the problem your business solves.
Asking a thought-provoking question that engages your audience.

For example: “Did you know that 80% of small businesses struggle to secure affordable financing? That’s why we created [Your Solution].”

A strong hook not only engages but also sets the stage for the rest of your presentation, making investors eager to learn more.

2. Clearly Define the Problem

Investors need to understand the problem your business addresses. Be specific and use data to back up your claims. The more pressing and relatable the problem, the more likely they are to see the value in your solution.

For example: “The [industry] market is plagued by inefficiencies, costing companies an average of $X billion annually.”

3. Present Your Solution

This is the heart of your pitch. Clearly articulate your product or service and explain how it solves the identified problem. Highlight its unique selling points (USPs) and emphasize what sets you apart from competitors.

Use visuals, prototypes, or demos if possible. Showing your solution in action can leave a lasting impression. For example, if you’ve developed an app, a live demo showcasing its features can be far more impactful than just describing it.

4. Showcase the Market Opportunity

Investors want to know that your business operates in a lucrative market with growth potential. Provide:

Market Size: Highlight the total addressable market (TAM), serviceable available market (SAM), and your target market.
Trends: Discuss any relevant trends that position your business for success.
Growth Potential: Explain how your business can capture significant market share.

For instance, if you’re entering the renewable energy market, emphasize the global shift towards sustainability and how your business aligns with this trend.

5. Outline Your Business Model

Your business model demonstrates how you make money. Be clear and concise:

Revenue streams.
Pricing strategies.
Scalability.
Customer acquisition and retention plans.

This section should convince investors that your business is financially viable and has the potential to generate strong returns. Highlight any recurring revenue models, as they often appeal to investors due to their predictability.

6. Highlight Your Traction

Nothing builds credibility like tangible results. Share metrics, milestones, and achievements, such as:

Revenue growth.
Customer testimonials or case studies.
Partnerships or collaborations.
Product development progress.

If you’re pre-revenue, focus on early wins like beta user feedback, pre-orders, or pilot program results. Demonstrating progress shows that your business has momentum and is on the path to success.

7. Introduce Your Team

Investors invest in people as much as they do in ideas. Highlight your team’s expertise, experience, and passion. Explain why your team is uniquely qualified to execute your vision.

For example, if your team includes a CTO with a history of successful product launches, emphasize how their expertise strengthens your business’s technical foundation.

8. Address the Competition

Acknowledging competition shows that you understand your market. Provide:

A comparison of your product/service to competitors.
Your competitive advantages.
Barriers to entry that protect your business.

For example, if your software is easier to use and integrates seamlessly with existing systems, highlight these differentiators.

9. Financial Projections

Investors want to see a clear path to profitability. Include:

Revenue and expense projections for the next 3-5 years.
Key financial metrics like customer acquisition cost (CAC) and lifetime value (LTV).
Breakeven analysis.

Make sure your projections are realistic and supported by data. Overly optimistic estimates can undermine your credibility.

10. The Ask

Conclude your pitch with a clear and specific request. State how much funding you’re seeking and explain how you’ll use the funds. For example:

Hiring key team members.
Scaling production.
Expanding marketing efforts.

Be confident and direct. Investors appreciate clarity and purpose. Consider breaking down your funding needs into categories to show you’ve thought through your allocation strategy.

Presentation Tips

A well-structured pitch is only half the battle. How you present it matters just as much. Follow these tips to make a strong impression:

Practice, Practice, Practice: Rehearse your pitch until you can deliver it confidently without relying on notes.
Engage Your Audience: Make eye contact, use natural gestures, and speak with energy and passion.
Use Visuals Wisely: Slides should enhance your presentation, not overwhelm it. Keep them clean, simple, and easy to read.
Be Ready for Questions: Anticipate potential questions and prepare thoughtful answers. Show that you’ve considered every aspect of your business.
Time Management: Keep your pitch concise. Aim for 10-15 minutes, leaving time for a Q&A session.

Common Mistakes to Avoid

Avoid these pitfalls to keep your pitch professional and compelling:

Overloading with Information: Focus on key points and avoid overwhelming investors with unnecessary details.
Being Vague: Specificity builds trust. Provide clear data and actionable insights.
Ignoring Risks: Acknowledge potential challenges and explain how you’ll address them.
Failing to Connect: Remember, investors are people too. Build rapport and make your presentation relatable.

How The Money Expo Can Help

Crafting a winning pitch is no small task, but you don’t have to do it alone. At The Money Expo, you’ll find resources and opportunities to refine your pitch and connect with potential investors. Highlights include:

Pitch Workshops: Learn from experienced professionals who can help you perfect your delivery.
Networking Sessions: Meet investors, mentors, and fellow entrepreneurs.
Expert Panels: Gain insights into what investors look for and how to stand out.
Live Pitch Events: Practice pitching in front of a live audience and receive constructive feedback.

Conclusion

A winning pitch is more than just a presentation; it’s a chance to showcase your vision, passion, and potential. By understanding your audience, structuring your pitch effectively, and delivering it with confidence, you can secure the funding you need to bring your business dreams to life.

Join us at The Money Expo to gain the skills, connections, and insights to craft a pitch that stands out. Together, we’ll help you turn your entrepreneurial vision into reality. With preparation, dedication, and the right guidance, your pitch can open doors to incredible opportunities.

Kickstart Your Business in 2025: Top Funding Options to Consider

Fri, 03 Jan 2025 15:25:24 GMT

Unlock the Financial Resources You Need to Succeed in the New Year

Launching or growing a business in 2025 requires more than just a great idea; it demands a clear plan, strategic thinking, and, most importantly, access to the right funding. Whether you're starting fresh or scaling your existing operations, securing the right financial support can mean the difference between success and stagnation.

At The Money Expo , we understand the challenges entrepreneurs face when navigating the financial landscape. That’s why we’ve curated this comprehensive guide to help you explore the top funding options available in 2025. Read on to discover the resources you need to achieve your business dreams.

The Importance of Funding for Business Success

Every successful business starts with a clear vision, but bringing that vision to life requires capital. Whether you need funds for initial startup costs, expanding operations, purchasing equipment, or hiring staff, identifying the right funding source is crucial.

In 2025, entrepreneurs have access to more diverse financing options than ever before. From traditional bank loans to innovative online platforms, the funding landscape is constantly evolving. Understanding these options will empower you to make informed decisions and secure the resources your business needs.

Additionally, having a solid financial plan demonstrates professionalism and readiness to potential investors and lenders. Showing that you’ve considered all financial aspects of your business can set you apart in competitive funding environments.

Traditional Funding Options

1. Bank Loans

Bank loans remain a popular choice for entrepreneurs due to their reliability and structured repayment plans. Banks offer various loan types, including:

Term Loans: Ideal for large, one-time expenses like equipment or real estate.
Business Lines of Credit: Provide flexible access to funds as needed.
Small Business Loans: Tailored specifically for small businesses with competitive interest rates.

To qualify for a bank loan, you’ll need a strong credit score, a solid business plan, and collateral in some cases. The application process can be thorough, so preparation is key. Entrepreneurs should anticipate providing detailed financial records and projections.

2. SBA Loans

The U.S. Small Business Administration (SBA) partners with lenders to offer loans designed for small businesses. These loans are known for their low interest rates and favorable terms. Popular SBA loan programs include:

7(a) Loan Program: General-purpose loans for working capital, equipment, or expansion.
504 Loan Program: Focused on fixed-asset purchases like real estate.
Microloans: Smaller loans designed for startups and underserved businesses.

SBA loans can be a lifeline for entrepreneurs, but the application process can be lengthy and competitive. It’s essential to ensure your business meets the eligibility criteria and prepare a compelling case for funding.

Alternative Funding Options

3. Online Lenders

Online lending platforms have revolutionized business financing by offering faster approval processes and more flexible terms. Companies like Kabbage, Fundbox, and OnDeck specialize in:

Short-Term Loans: Ideal for quick capital needs.
Merchant Cash Advances: Repayment is based on a percentage of daily credit card sales.
Invoice Financing: Provides cash advances against outstanding invoices.

These platforms often cater to businesses with less-than-perfect credit, making them accessible to a wider range of entrepreneurs. However, it’s important to carefully review the terms and interest rates, as they can be higher than traditional loans.

4. Crowdfunding

Crowdfunding allows entrepreneurs to raise capital by soliciting small contributions from a large number of people. Popular platforms include Kickstarter, Indiegogo, and GoFundMe. Crowdfunding models include:

Rewards-Based Crowdfunding: Supporters receive perks or products in exchange for their contributions.
Equity Crowdfunding: Investors receive equity or shares in the company.
Donation-Based Crowdfunding: Common for nonprofit or community-focused projects.

A compelling campaign and a strong marketing strategy are essential for crowdfunding success. Engaging your audience with visuals, videos, and updates can significantly increase your chances of meeting your funding goals.

5. Angel Investors and Venture Capitalists

Investors play a critical role in funding innovative startups.

Angel Investors: High-net-worth individuals who provide funding in exchange for equity or convertible debt. They often invest in early-stage companies.
Venture Capitalists: Professional investors who manage large funds and typically invest in high-growth potential startups.

Both options require a well-crafted pitch and a clear vision for scaling your business. Building relationships with potential investors through networking events and professional introductions can also improve your chances of securing funding.

Industry-Specific Funding

6. Grants

Grants are an excellent funding source because they do not require repayment. Numerous organizations and government agencies offer grants for specific industries or demographics, such as:

Technology Startups: Grants for innovation and research.
Women-Owned Businesses: Programs like Amber Grants and the Women’s Business Center.
Minority-Owned Businesses: Opportunities through the Minority Business Development Agency (MBDA).

While competitive, grants can provide vital support to qualifying businesses. Researching available grants and tailoring your applications to meet specific criteria can enhance your chances of success.

7. Equipment Financing

For businesses that require expensive machinery or technology, equipment financing offers a tailored solution. Lenders provide funding specifically for equipment purchases, and the equipment itself often serves as collateral.

This option can be particularly beneficial for industries like manufacturing, construction, or healthcare, where specialized equipment is a necessity.

Emerging Trends in Business Funding

8. Revenue-Based Financing

This innovative model allows businesses to repay loans as a percentage of revenue. It’s an attractive option for startups with fluctuating income streams, offering flexibility and lower initial repayment pressure.

Revenue-based financing is particularly popular among e-commerce businesses and subscription-based models, where monthly revenue can vary significantly.

9. Cryptocurrency and Blockchain Financing

As blockchain technology continues to evolve, some businesses are turning to Initial Coin Offerings (ICOs) or token sales to raise capital. While still a niche market, cryptocurrency financing offers unique opportunities for tech-savvy entrepreneurs.

However, it’s important to note that this funding method comes with regulatory challenges and risks. Entrepreneurs should conduct thorough research and consult with experts before pursuing blockchain-based financing.

10. Green Financing

Sustainability-focused businesses can take advantage of green financing options, which support eco-friendly initiatives. These include loans, grants, and incentives for projects that reduce environmental impact.

Green financing is gaining traction as consumers and investors prioritize environmental responsibility. Highlighting your commitment to sustainability can also enhance your brand’s reputation.

Making the Most of The Money Expo

The Money Expo is your ultimate resource for exploring these funding options and connecting with industry experts. By attending the expo, you’ll gain access to:

Workshops and Panels: Learn from financial experts and successful entrepreneurs.
Networking Opportunities: Meet potential investors and business partners.
Exhibitors: Discover funding platforms, lenders, and service providers tailored to your needs.

The Money Expo’s focus on innovation and practical solutions makes it an invaluable event for entrepreneurs at any stage of their journey. Whether you’re seeking advice, resources, or connections, this expo is designed to empower you.

Tips for Securing Funding

Craft a Solid Business Plan: Investors and lenders want to see a clear vision and strategy. Include detailed financial projections, market analysis, and growth plans.
Build Your Credit Score: A strong credit history increases your chances of approval. Take steps to address any outstanding debts or errors on your credit report.
Research Your Options: Explore multiple funding sources to find the best fit for your needs. Consider factors like interest rates, repayment terms, and eligibility requirements.
Prepare Your Pitch: Be ready to articulate your business’s value and growth potential. Practice your pitch with mentors or colleagues to refine your delivery.
Leverage Your Network: Attend events like The Money Expo to connect with potential funders and industry experts. Building relationships can open doors to new opportunities.

Conclusion

As you embark on your entrepreneurial journey in 2025, having a clear understanding of the funding landscape is essential. Whether you choose traditional loans, innovative online platforms, or alternative methods like crowdfunding, the right financial support can propel your business to new heights.

Don’t miss your chance to dive deeper into these options at The Money Expo , where opportunities and connections await. Together, let’s make 2025 the year your business dreams become reality. With the right resources, guidance, and determination, success is within your reach.

The Franchise World and Options

Fri, 09 Feb 2018 22:28:43 GMT

The Franchise World is Vast- How Should You Explore?

Thinking of starting a franchise business

Anyone thinking of starting a business, especially a franchise, likely starts with the known franchises – Subway, McDonalds, or a Maaco.

We speak with potential franchisees every day and almost everyone mentions these are the types of franchises they want to own. But you need to ask yourself some questions-:

Do you have food experience?
Do you enjoy the automotive business?
What is your experience with employees?
What level of investment are you able to make in a business?

How Should You Explore Before Entering Franchise World?

I suggest that an investigation of franchises starts with what you’ve done and the things you like to do. Research those types of businesses online and see if they are already established in your area. If so, then I suggest you visit those types of businesses and try to see yourself owning that business. Talk to owners of similar businesses in the area.

Are you good at marketing or does the business depend on sales experience, a skill you either have and like or are willing to learn or just want to avoid?

Are you more interested in businesses that are missing in your area?

When you have found a franchise in which you are interested , then contact the franchisor. They will have a process to follow that provides you a view of the franchise as well as providing the franchisor the ability to determine if you are similar to their successful franchises and are a good fit financially, culturally, and skilled for their franchise.

I’d also recommend that you have a franchise attorney review any franchise disclosure documents and franchise agreements before making any decision.

I realize that what I have suggested takes a lot of time and work. You may also want to consider using a franchise consultant , or visiting an expo . However you decide to investigate franchise opportunities , our expos can give you a window into the franchise world!

How to Get Awarded a Franchise

Fri, 02 Feb 2018 21:59:15 GMT

"Be All In Until You Are All Out"

I recently had a candidate who was previously awarded a franchise lose it.

The candidate, a sharp, successful attorney felt like he was communicating enough with the franchisor. Once he made his final decision he contacted the franchisor to tell him the good news. The franchisor just felt like he took too much time to make the decision after having enough information to make it. So the franchisor said no! Even though the franchisor had originally offered him a franchise, he took the offer back. Wow! What a huge disappointment.

One of the most common statements we hear in working with franchise candidates (potential franchisees), is “I want to buy a franchise”.

That is the way most people think about the franchise purchasing process. “I’m going to buy a franchise. “The reality is you only get awarded a franchise. It’s an award process. The franchisor has to first offer you the franchise .

Ideal Franchise Candidate - What Does That Mean?

A common misconception is “Well if I have the money, solid experience and there’s territory available, why wouldn’t they sell me a franchise.” The truth is a great franchisor will be looking for the best matches for their system.

It means that they’re going to take in a variety of factors while making their decision. I always tell my candidates “BE ALL IN, UNTIL YOU ARE ALL OUT”. That means being prepared, being on time, having your questions prepared, asking great questions, understanding the process, showing respect, being kind, connecting, doing your homework, responding quickly and professionally to emails, texts and voicemails.

It’s possessing the understanding that you are, in a real sense, selling yourself. That is the reality. Every seasoned professional that helps folks find franchises has had candidates turned down because of one or more of the factors that I point out here. It could be more of a slippery slope then one would think. It’s not just about money and having solid experience. It’s about connection, attitude, being the right fit for the culture of the franchise .

So when it’s time to listen, listen. When it’s time to talk, when it’s time to ask questions , ask questions. When it’s time to be there, it can be very costly and very disappointing not to pay attention to these factors.

Buying a Franchise - Making The Final Decision

Another very important point is being able to make a decision. There comes a point in the process when you have received the information, talked to the franchisees, met the franchisor face to face , asked all your questions, ran the numbers, settled on your area, and the next step is to make a decision. As scary as the decision can be as big of a deal, as life changing as it is. When it’s time to make a decision you need to be able to make a decision. There’s no hard and fast rule on what’s too long. Be open and honest always communicating clearly to the franchisor. Clarify where you’re at with your decision and what your concerns and fears are. Discussing what else still needs to be done or thought through before you will make a final decision can be key to not losing your deal.

The bottom line is don’t take it for granted just because you think you’re qualified and have the money. It is simply not all up to you.

Discovering amazing franchise concepts at our franchise trade shows and making a connection is only one step in the longer process.

Franchising Can Lead To Unexpected Doors

Thu, 25 Jan 2018 16:35:09 GMT

Discover new horizons in many industries.

We would like to share with you a success story about a new franchise owner. This gentleman came to us through a referral as he was looking at small business ownership after working in Corporate America for most of his career. He found himself the last 3-5 years moving from job to job due to restructuring and downsizing.

Is Starting a Franchise The Right Decision?

He felt that he had reached a threshold on the financial end and he wasn't being able to move any further. He decided to work with a professional like myself to help him determine whether or not this would be a good move for him.

Part of the process that I take my clients through helps me to determine whether or not this is the right move for them. Once it was determined that it was I wanted to focus on a number of things like what he enjoys doing with his life outside of work, his hobbies and more. One of his hobbies was working with horses and likes to be around animals.

Franchise Discovery Process

We were able to present him several options including some from his industry and an opportunity in the pet space. At first he was hesitant on the pet opportunity and didn't see what the opportunity was and I told him to trust the process. I felt the business model from a financial standpoint from both investment and ROI was going to be most effective for him.

Long story short, after he spoke to a few franchise owners he was blown away and wanted to learn more. It was important to continue the process and was finally able to go meet the team. In the end he was awarded not only one unit but three within his territory. Both my client and franchisor saw that this was going to be a great fit! This was probably one of the biggest success stories because this was someone coming in thinking I'm just going to follow the path of what I've been doing in my career and now he found himself going into business for himself in an area where he so happy to be in.

Being able to build something for his family was amazing. If you’re looking to change your career path , looking to exit the corporate world or just looking for a change and want to find out more about what it would take to own a franchise attend one of our expos and meet experts who can guide you! Meet concepts in a variety of industries- you never know what will be a great fit

Franchise Business in Boston is Thriving

Wed, 24 Jan 2018 18:28:36 GMT

Unique Aspects of Boston That Make it Prime for New Franchises

It’s a well-known fact that the success of any business is greatly impacted by the quality people hired. When a new hire proves successful, the company benefits and transversely when a hire doesn’t work out, it can be disastrous creating a lot of turmoil for the business.

Hiring is An Art Form

Finding “good” talent is challenging and many Entrepreneurs would go as far as saying “hiring is an art form.” There is no one size fits all playbook for successful recruiting, and there are many variables that contribute to the overall success of a hired resource for any company.

Benefits of Starting a New Business in Boston

That said, having a business in a geographical location that lends itself to education, vocational training, infusion of investment capital and government supported programs will greatly assist in finding top notch talent for a plethora of businesses. This is where BOSTON comes in:

Boston is one of the oldest cities in the US that maintains stellar higher education institutions like Harvard, MIT and Boston University. Given that many students and graduates need employment; This environment provides a hotbed of talent pools for businesses to choose from.

Additionally, there is a huge start-up technical community with strong investment capital and established companies like Accenture are bulking up their workforce in Boston —creating additional demand for work and smaller businesses to support them and their communities

This past June (2017) the city of Boston infused nearly $11 million to prepare more than 3,000 residents to fill growth industries' talent gaps. ( https://www.boston.gov/news/major-investment-bostons-talent-pipeline-announced )

Boston is clearly having a revival in business opportunities , and having the talent pool to support it can take the edge off of one of the biggest challenges for businesses—hiring great people that will poise a business for success!

The innovation spirit is alive and well which helps all businesses by creating a community of passion with a range of diverse new ideas . Innovation, education and business growth is clearly working overtime in Boston, and there is no better time as an entrepreneur to take full advantage of Boston’s culture and professional community that is on-fire right now!

Attend The Great American Franchise Expo - The #1 trade show for those seeking to own a franchise in Boston .

Starting Your Own Franchise Business: If Not Now- When?

Mon, 22 Jan 2018 18:38:16 GMT

Could business ownership be your next big move?

There are risks with any everything in life. The question is when is the best time to minimize those risks and be adventurous.

The pendulum has swung in the direction of higher risks attributed to working in corporate America over that of owning your own business . What has this been? The 3rd or 4th merger you have gone through? The average job now lasts less than 3 years. Don’t believe me- just stroll through LinkedIn for an hour and look at each person’s resumes.

Even in a great economy as we see today, Corporations are still shedding upper management in order to flatten out their organizations and manage costs. I think the new cost cutting mind set from the 2008 recession has captured the minds of CEOs for years to come.

So, when is the best time to secure your future?

What is it that you need to see in the economy that will convince you that now is the very best time. So now is the time to get into business, build your platform and take advantage of consumer confidence. What should we all have learned from the last recession? Save more money!

So, build your business by building a strong foundation while the economy is good, yet store away for when the next recession comes.

This economic theory dates to biblical times. Remember when Joseph told the people store up in times of harvest so they would be prepared for the times of famine?

So, if not now when?

Start Your Own Business - Now is the Time!

If you don’t believe me look at your retirement account which is made up of stocks in major corporations. If those stocks have gone up it means those companies are doing great. This would be the same for you and your own company.

Don’t want to go it alone and want someone to share some of the risk? Great thinking!

The Franchise Model is Your Answer

They have taken great strides to minimize your risk . They have done the heavy lifting, weathered the storms, and built a proven concept. What is left is you! For you to add your experience, passion, and perseverance to make your business the best one in their system. In franchising it is said “You are in business for yourself but not by yourself”.

Want to peek into the Franchise industry? Come to our franchise expos and meet one of many emerging brands!.

Finding The Right Franchise That is a Fit For You

Fri, 19 Jan 2018 17:02:59 GMT

What To Consider When Entering The Franchise Search

A report issued by Goldman Sachs and Babson College cited that small business (defined as less than 500 employees) make up 99% of all employer firms. The report cites that existing small businesses accounted for over 60% of the private sectors net new jobs over the past two decades.

What Business Ownership Options Do You Have?

If you are considering business ownership where do you start looking?

The question becomes where are the businesses that thrive in all economic conditions?

It’s helpful to understand the positives and negatives of your options of business ownership –

building your own (start-up),
buying an existing business,
or a Franchise model.

Building Your Own Startup

The advantages of a start up are that you have total control, there’s plenty of room for creativity, you and your team make the rules, and there is huge upside. The disadvantages are you must create your systems, it may be difficult to obtain financing, it may have a longer ramp up, and start ups have the highest failure rate.

Buying an Existing Business

An existing business has the advantages of having cash flow, actual financial results, an existing customer base, and an existing team of employees, but one needs to understand other factors. Discovering a hidden motive of the seller may be difficult to find out and your valuation of the business may not match the offer price. What if you found out that a key employee was going to leave when your takeover, how would that affect your view of the existing business?

Entering The Franchise Business Model

With a Franchise model you can thoroughly research the business model and develop an unbiased opinion about the business.

Other advantages of a Franchise model include but aren’t limited to

operating a proven system,
having a powerful brand continuously supporting you,
lower failure rate,
lower entry cost,
and financing options.

The Franchise business model does have limitations; some franchises are very structured, there are territory limitations, they may have preferred suppliers that you must buy from, and you must weigh the benefits against paying a monthly royalty.

Franchising is a way to

create a distribution channel,
build brand awareness and loyal customers,
and quickly dominate the marketplace.

If we find the right franchise that is a great fit for you , it creates a path for you to achieve your lifestyle and financial goals. It is also a way to reduce risk. Working together, we define your short and long-term goals and define your exit strategy.

We create your business model that identifies what you want from the business . It may be challenge, recognition, prestige, more time with family, create independence, or build equity for financial milestones and retirement. Your business model also includes the skills you have that can be transferred in to provide the leadership that your team needs.

All of our franchise partners at our expos are ready to dive into this process with you. Join us, and start your adventure into franchising!

What to Look For in a Franchisor

Thu, 18 Jan 2018 22:05:44 GMT

There Are Many Excellent And Sub-Par Franchise Brands Out There - Be Vigilant.

As you move through your day, you'll have many questions, especially as a new franchisee, in various categories of the business. Those of you who have been in your own business know that multiple things can be thrown at you at any given moment, and you need support as well. This is why it is so important that you have help – even if you think it may be a silly question!

This could include things such as:

1. My delivery arrived today but I only received three quarters of what I ordered. Can you help me with getting the rest of my order to me today?

2. My Pepsi machine just caught on fire! Who do I call to fix it or get a new machine? (Yes, this really did happen and it happened to me!)

3. We had a new promotion that started this morning. When I received my marketing kit, it looked like it had been trampled by Gorillas. Can you please ship me another kit?

4. I have a TV Reporter that is standing at my front desk wanting to get my opinion on”X”. What should I say?

5. When arriving at my business this morning, my back door was wide open and all of my computers are gone. Can you help me get back up and running?

6. I just received a shipment of workbooks and the binding fell apart on half of them. Can you please ship more to me?

7. I just had a customer slip and fall outside my front door. Can someone help me with what I should say and do?

8. I have an idea on how we can sell more of ”XYZ”. Is there someone I can talk to about this?

9. It looks like when you pulled royalty payments, you pulled them twice. Can you please help me? I have another bill coming in today and now that payment will bounce.

10. Can I please get the details about our upcoming meeting? For some reason, my email crashed and I don't have the details.

Does The Franchise Have a Reliable Franchise Support System?

The value of having an individual or team of individuals that can take these calls and respond in a timely fashion can make the difference between a happy franchisee and an unhappy franchisee. Many times, you hear people complaining that they can't get any answers and don’t know what's going on. Through the best efforts of the franchisor, while they think they communicate and many of them do, these questions continue to rise and the franchisees must have reliable support.

When looking at a franchise, ask the current franchisees if the franchisor has someone to help them on a daily basis with any questions that may arise. Ask them who they talk to and how quickly they respond.

Meet many quality concepts that are looking to expand all over the United States at one of out franchise expos .

Maybe you will find your next big opportunity here?

New England Loves Franchising!

Wed, 17 Jan 2018 16:21:13 GMT

If you are thinking of owning a franchise, New England is great company.

When it comes to franchising, Boston and the New England area are where many franchise companies were born.

Here’s Just a Partial List of Franchises Based in New England:

Subway – Milford, Connecticut

Dunkin’ Donuts – Canton, MASSACHUSETTS

Baskin Robbins – Canton, MASSACHUSETTS

Fantastic Sam’s – Beverly, MASSACHUSETTS

Coffee News – Bangor, Maine

Ben & Jerry’s – Burlington, Vermont

Friendly’s – Wilbraham, MASSACHUSETTS

Edible Arrangements – Hamden, Connecticut

Rooterman – North Billerica, MASSACHUSETTS

Au Bon Pain – Boston, MASSACHUSETTS

Brueggers Bagels – Burlington, Vermont

Wireless Zone – Middletown, Connecticut

Tedeschi Food Shops – Rockland, MASSACHUSETTS

Uno Chicago Grill – BOSTON, MASSACHUSETTS

D’Angelo’s – Dedham, MASSACHUSETTS

Papa Gino’s – Dedham, MASSACHUSETTS

Pressed 4 Time – Maynard, MASSACHUSETTS

Honey Dew – Plainville, MASSACHUSETTS

Sandella’s – West Redding, Connecticut

Learning Express – Ayer, MASSACHUSETTS

MaidPro – BOSTON, MASSACHUSETTS

Hannoush Jewelers – West Springfield, MASSACHUSETTS

Resort Maps – Waitsfield, Vermont

The Right One/Together – Norwell, MASSACHUSETTS

Snip-Its – Natick, MASSACHUSETTS

Kabloom – Woburn, MASSACHUSETTS

White Hen Pantry – Norwood, MASSACHUSETTS

Elizabeth Grady – Medford, MASSACHUSETTS

Super Coups – East Taunton, MASSACHUSETTS

American Ramp Systems – SOUTH BOSTON, MASSACHUSETTS

Lapels Dry Cleaning – Hanover, MASSACHUSETTS

Amato’s – Portland, MASSACHUSETTS

Ronzio’s – Lincoln, Rhode Island

Wings Over – Agawam, MASSACHUSETTS

Boston Market – Newton, MASSACHUSETTS

With so many franchise companies getting their start in New England, shouldn’t you attend The Great American Franchise Expo and see what franchises might be a great fit for you?

Mark your calendar to be at the DCU Center March 3rd and 4th!

Apples-to-Apples and Hitting It Off

Tue, 26 Dec 2017 18:14:48 GMT

How do you go about finding the franchisees who are the “apples-to-apples” with whom you need to speak.

As you progress through the formal investigation process with a franchise company, after you’ve read the Franchise Disclosure Document, listened to your representative discuss the “nuts and bolts” of running the franchise and how the franchise company will train and support you … it’s time for you to start talking to existing franchise owners .

Talking to existing owners is called the “validation” phase of the investigation process and it’s perhaps the most important phase of the investigation.

Most franchise companies will provide you with a list of franchisees whom they feel you would most benefit from calling. No surprise, that list will be a list of their most successful franchisees. If you were in the franchisor’s shoes, you’d give prospective franchisees the same kind of list, right?

There is absolutely nothing wrong with calling the list of “top performing” franchisees … in fact, you should call them. You should call all of them!

But … you shouldn’t call any franchisee before you realize you are searching for the apples-to-apples comparison you need to be able to determine if the franchise is, indeed, right for who you are, your skills, your market and your resources.

Makes sense, right?

So, how do you go about finding the franchisees who are the “apples-to-apples” with whom you need to speak?

Start with the list your franchise rep gives you, if, indeed, your rep gives you a list.

Then, look at the list of franchisees in your Franchise Disclosure Document and focus on the franchisees who are operating in markets with demographics similar to yours.

Why is that important? Simple.

It’s great to speak with a franchisee operating successfully in Los Angeles … if you are going to operate in the same market or in NYC, Boston, Philly, Dallas, Houston, etc.

But, if you are going to operate in a smaller market, let’s say Waco, Texas, you really should talk to franchisees who are operating in markets of similar size.

OK, so it clearly makes sense to talk to franchisees operating in the same type of market as in which you’ll be operating … but, there’s more you need to do.

You need to constantly ask yourself as you talk to franchisees:

“Am I more like this person or less like this person?”

When you talk to the top performing franchisees (regardless of what market they are operating in) … ask yourself, “Am I more like this very successful franchisee … or, am I less like this successful franchisee?”.

Likewise, when you talk to a franchisee who is disgruntled, unhappy, not achieving what he or she hoped to achieve, is blaming the franchise company for their displeasure and lack of success, you really, really need to be asking yourself, “Am I more like this whiner or less like this whiner?”.

Another factor that is vitally important in the validation process is what I call “hitting it off.”

Its human nature … people like other people who are more like themselves than less like themselves. Birds of a feather flock together, as the saying goes.

Discover various concepts at our expos and see if you can hit it off with them in person.

Former or Retired Military? Is Franchising Right for You?

Tue, 26 Dec 2017 18:09:04 GMT

Franchising can be the right pathway for former and retired military people, but have to keep some important facts in mind before delving in.

As a retired USAF officer who has been in franchising for the past 20 years, I've worked with many former and retired military people who have been interested in owning their own businesses via franchising . Franchising can be the right pathway for you, but you have to keep some important facts in mind before delving in.

First, many franchise companies very much want former military as franchise owners. Why? Simple: military people have demonstrated the willingness and ability to follow systems and procedures. More, military people understand what it means to be part of a team...and franchise companies are TEAMS.

Teams of franchisees "quarterbacked" by the franchisor in which every member of the team does his or her job to make the overall team -- the franchise -- successful.
That said, franchise companies can't give their franchises away, so you'll need some resources to invest before you can become a franchise owner.

Typically, as a general rule of thumb, you'll need about $50,000 in available liquid capital, and a net worth (assets minus liabilities) of about $250,000 to leverage an investment in any top-tier franchise opportunity .

Be very, very cautious about "business opportunities" that disguise themselves as franchises. "Biz Ops" are not regulated by the Federal Trade Commission, as are all franchise opportunities, and Biz Ops can therefore "promise you the moon" with virtual impunity. Biz Ops typically are selling vending machines, ATM machines, or Multi-Level Marketing opportunities and promise the same support and training as franchise companies ...only they generally do not deliver on their promises. Their real objective is to sell you the machines or MLM memberships and then the rest is up to you.

Franchises, on the other hand, as mentioned before, are regulated by the Federal Trade Commission and each franchise must supply you with the FTC-mandated Franchise Disclosure Document (FDD). The FDD discloses everything you need to know about the franchise, including all costs, the history of the franchise company (including the history of law suits), what you and the franchise company are required to do and even the track record of success (or failure) of their franchise owners.

So, with a franchise, you'll know everything you need to know about the franchise before you invest -- but, which types of franchises are right for you, your goals, your investment resources, your market, your skills and your lifestyle preferences? With so many businesses out there, attending our expos gives you a chance to explore the opportunities that are out there before you make a commitment.

Daily Support from Your Franchisor

Tue, 26 Dec 2017 18:05:10 GMT

What to expect and ask your franchisor. A franchisor needs to provide a main point of contact to help their franchisees navigate their daily routines.

This blog will focus on General Support for your everyday needs as a franchisee.

As you move through your day, you'll have many questions, especially as a new franchisee, in various categories of the business. Those of you who have been in your own business know that multiple things can be thrown at you at any given moment, and you need support as well. This is why it is so important that you have help – even if you think it may be a silly question!

This could include things such as:

My delivery arrived today but I only received three quarters of what I ordered. Can you help me with getting the rest of my order to me today?

My Pepsi machine just caught on fire! Who do I call to fix it or get a new machine? (Yes, this really did happen and it happened to me!)

We had a new promotion that started this morning. When I received my marketing kit, it looked like it had been trampled by Gorillas. Can you please ship me another kit?

I have a TV Reporter that is standing at my front desk wanting to get my opinion on”X”. What should I say?

When arriving at my business this morning, my back door was wide open and all of my computers are gone. Can you help me get back up and running?

I just received a shipment of workbooks and the binding fell apart on half of them. Can you please ship more to me?

I just had a customer slip and fall outside my front door. Can someone help me with what I should say and do?

I have an idea on how we can sell more of ”XYZ”. Is there someone I can talk to about this?

It looks like when you pulled royalty payments, you pulled them twice. Can you please help me? I have another bill coming in today and now that payment will bounce.

Can I please get the details about our upcoming meeting? For some reason, my email crashed and I don't have the details.

As you can tell, these are just some of the questions that have actually been asked on a regular basis. A franchisor needs to provide a main point of contact to help their franchisees navigate their daily routines. Over time, new franchisees we'll have fewer and fewer of these questions where they need help, however, the majority of these will continue to exist on a daily basis.

The value of having an individual or team of individuals that can take these calls and respond in a timely fashion can make the difference between a happy franchisee and an unhappy franchisee . Many times, you hear people complaining that they can't get any answers and don’t know what's going on. Through the best efforts of the franchisor, while they think they communicate and many of them do, these questions continue to rise and the franchisees must have reliable support.

When looking at a franchise , ask the current franchisees if the franchisor has someone to help them on a daily basis with any questions that may arise. Ask them who they talk to and how quickly they respond.

No matter what franchise system you are exploring, don't be afraid to ask questions. The inquisitive minds tend to be more successful.

Key Questions to Ask Before Buying Franchise

Tue, 26 Dec 2017 18:00:16 GMT

Discover strong concepts where you can ask different kinds of key questions and determine if franchising is right for you.

Some Key Questions to Ask Franchisees before buying!

One of the most important things to do before buying a franchise is to ask some key questions of other franchisees that are in the same business. I like to break it up into different categories so that you’re gathering enough information to help make an informed decision about whether or not to buy the business. Here is a sample of those questions:

#1 Financial Questions:
I often get asked “how much money can I make and how long will it take for me to be profitable”. While it’s important to understand that every business is different and every franchise owner will be different you still want to ask other franchisees this very question. The franchise company will be providing you with a Franchise Disclosure Document (FDD) and you want to examine it closely to understand the kinds of revenues the average franchisee (this is disclosed under Item 19) is bringing in. You can ask franchisees how long it took to get to profitability or maybe cash flow positivity or how long it took to ramp up their business.

#2 Training & Support
What kind of support did they provide once you completed your training and opened up your business? What sort of support did you get beyond the training? Are you getting field support from home office in your market ? What sort of ongoing training is provided once the initial training is complete?

#3 Marketing
Marketing and advertising are important to the business or any business for that matter. What sort of marketing programs has the franchisor put in place and have the franchisees had success? Is the franchisee satisfied with marketing support in the digital, print and Social Media space? Is the franchisor up to date on the latest and greatest in marketing for your franchise that you're looking at ?

#4 Franchisee/Franchisor Relationships
Ask the franchisee if they have had any concerns regarding the franchisor? Have they had any conflict, if so, was it resolved to their satisfaction? In the first year did the franchisor offer support at the level that you expected and has that support from the franchisor met or exceeded the expectations?

#5 Ask “Would you do it again”?
One of the last things or one of the main things that I always advise my clients to make sure they ask other franchisees is “if they have to do it all over again would they?” If they did great I think the answer is pretty simple and if they didn't or say they wouldn't I'd want to know why as everyone comes into business with their own end goal in mind and that will be different for everyone.

Discover strong concepts where you can ask these kinds of questions and determine if franchising is right for you at one of our expos .

Transitioning from Corporate Refugee to Franchise Owner

Tue, 26 Dec 2017 17:56:36 GMT

Discover what franchise concepts to consider when you are making a transition.

People who have spent their entire career working in Corporate America may find themselves at a crossroad after several years of working to being laid off, restructured or ready for a new challenge. For those looking to start their own business and becoming a business owner or entrepreneur is an exciting and scary one at the same time. Most are looking to build equity or wealth, maybe create a family legacy and most importantly taking back control of their life and creating a lifestyle. Some of the things to consider when you are making a transition are:

#1 Your old Corporate Life:
What you're used to may not be there -- corporately you're used to working with a structure and organization within a company – for example you work from 9am to 5pm, you know who you're reporting to, you know certain people handle certain tasks within a department. But when you come into your own business the systems that existed in corporate do not exist anymore and all the decisions and responsibilities start and end with you. For some people the challenge of starting a new business and creating their own systems and processes can be quite exciting. But for other people it can be daunting so franchising becomes the optimal solution. You will work with a proven business model and a built-in operating system all the while being your own boss. In franchising you're in business for yourself not by yourself!

#2 All Alone:
Small business owners can sometimes feel alone when they set out to start a business. They might not have that colleague in next cubicle or office and so that might make them feel insecure. In franchising your fellow peers will fill that gap. Being able to communicate and reach out to them to ask questions or learn best practices can help you overcome those kinds of challenges. I’ve often referred to your franchise as a second family, they are they when you need them offering guidance and support .

#3 Risk:
Risk can be another big issue when considering small-business ownership but there's also risk in a corporate job. The biggest risk with a corporate job is job security -- someone else is going to determine what your future is going to be and financially someone else will decide when that's going to happen. Your job could be lost at any time with restructuring or downsizing. Being a business owner you have full control over the level at which you're going to grow your business and build financial security. Of course you're taking on risk with a business but statically there are positive signals. Over 95% of franchises opened within the last 5 years are still open for business and over 85% opened within the last 5 years are still under the same ownership.

#4 Change:
Let’s face it a lot of people don't like change. If there's uncertainty or there's new things being brought our way can be a challenge for anyone. If you’ve spent a long time working in a job and now you’ve switched over to being an entrepreneur when it comes to franchising you have the support of the franchisor. They have the infrastructure and resources in place to help you through any challenges that you may be facing.

Discover what franchise concepts are out there at our expo and see if a change from corporate America to the real world makes sense.

Looking to invest in the hottest franchise brand? You might be surprised!

Tue, 26 Dec 2017 17:52:44 GMT

Here are some thoughts on how you can identify the hottest franchise opportunity that would be fit for you.

I am often asked, “what is the hottest franchise opportunity that would be best for me?” “it depends”. With more entrepreneurs looking for flexible, agile businesses and culture fit being the new trend, the better question to ask is which franchise brand is right for me? Considering over 3000 franchise brands reach almost every industry and investment options ranging from $50,000 to $5,000,000, finding the right franchise in today’s marketplace could be overwhelming.

Here are some thoughts on how you can identify the hottest franchise opportunity that would be “a fit” for you:

No experience necessary! You don’t need to have experience in the franchise model you are considering only transferable skills. Today’s franchisors provide education on every facet of the business model, demonstrate how they support franchisees and give you the tools you need to set your business up for success. Do you see yourself leveraging your skills and experiences in a model you are interested in?

Keep an open mind and ask questions . You have access to other franchisees who can speak to their experience with the franchise brand, give a perspective on the financial model and share what they have learned from the franchisor. Take the time to get educated on the model and validate what you have learned. You can also leverage the Franchise Disclosure Document (FDD) as part of your due-diligence. This document is required by the Federal Trade Commission and is provided to franchise candidates to provide them with important information including a copy of the Franchise Agreement so that you can make an informed business decision.

Concerned about culture fit? Multiple diverse franchisees have different success stories, backgrounds and experiences. Learn from them and listen to their story. What values are important to them? Does it align with your values? It can help you determine if the model and culture are a right fit for you.
So, final answer? It depends? Yes! The best brand aligns with you and your goals. The key is to keep an open mind, do not let experience limit you, and be o.k. with considering multiple brands. Investing in a franchise is a big decision. Make sure it’s the right fit for you!

Explore various franchises at our expos and discover many of the prominent brands that are looking to expand in your area!

Why I quit the green corporate job and started into my own franchise.

Tue, 26 Dec 2017 17:49:11 GMT

Here is a quick list of perks that I discovered that comes with franchise ownership beyond having a proven business model to work with.

Several years ago, I woke up one morning and found myself at a cross roads. I had a great job in corporate America, was making a nice stable income, but something was missing. I was lost. Corporate America was becoming larger, unpredictable and more difficult to navigate and I found myself questioning. Is this the right career for me? Do I want to retire from this job? Is it too late for me to go back to business ownership? What’s next? The list went on and on and on… So, I did what any rationale human being would do, I went to the office and quit! Looking back, I probably needed to rethink my approach, but it turned out to be one of the best and most rewarding decisions I have made. A key factor in my decision was getting educated and exposed to franchise opportunities that would enable me to be my own boss. I decided to explore a career path that offers a lot of options but a path I didn’t know too much about...Business Ownership!

Here is a quick list of perks that I discovered that comes with franchise ownership beyond having a proven business model to work with:

Ownership. You’re the boss! Owning your own business allows you to control the decisions and create the work environment you want to create. You chose the people you work with and who works for you and most important, you get things done faster (or slower). You control the pace.

Flexibility. Certain business models allow you set your own hours and in some cases you can work from wherever you want. What is better than that? Flexibility and balance are two of the most desired requirements in today’s business world. Business ownership gives you both.

Challenge. Most entrepreneurs thrive on the “no two days are the same” principal. Each day is filled with a different opportunity that allows creative thought pattern and problem solving.

Passion. You love what you do! You chose your business for a reason and when you are having fun, long hours don’t feel like work. By the way, I don’t want to imply that long hours are the norm when you own your own business. There are plenty of businesses that give you options in ownership structure that we can’t discuss in this blog, for example: Manage the Manager, Executive Models could be great fits…With your own business and depending upon your situation , there is no question that you will be working hard the first 2 to 3 years vs the alternative of working hard for the next 20 years in a corporate setting with no guarantee that you are going to retire with that company…

Pride. Nothing gives us a sense of accomplishment more than when we are successful. Business ownership allows you to be successful on your own terms under your own leadership and give you the opportunity to share your story to inspire others .

Discover franchise concepts that can transform your life and your community.

In 5 Years What Will Your Career Look Like

Tue, 26 Dec 2017 17:44:28 GMT

There are many options on your table- discover why franchising may be a next logical step.

Most of the humanity would like to see themselves in a position that is better off in five years than where they are today. We always look to the future to have our dreams take form. Many of our clients, however, are telling us a different tale. Every day we hear story after story of clients who have reached a certain age and have become “too expensive” for their companies. They are laid off, pushed out, or asked to take salary decreases. Certainly, they are not better off.

For the lucky few that this doesn’t happen to, they still seem to have a longing for something better, something of their own, something which they can rely upon for retirement.

A recent article by Elaine Pofeldt ( Prior senior editor for Fortune Small Business magazine ) reported a study by the AMERICAN INSTITUTE OF ECONOMIC RESEARCH, an independent research firm in Great Barrington, Mass., had some good news for would-be career changers in mid-career and beyond.

1 million to 2 million workers ages 45 to 65 made a CAREER CHANGE between 2011 and 2012.
82% of workers in this age range who wanted to switch careers pulled it off
90% of those who switched careers said their transition was successful. Seventy-two percent agreed that “emotionally, I feel like a new person” since changing careers, 65% said their stress levels dipped, 68% said it didn’t take unreasonably long to find a new job and 59% reported they are now “following their passions.”

So how do you join them? The study offered an interesting glimpse into what the successful career changers had in common.

They pushed past the fear. Among the successful career changers, 49% said they were “very nervous” about it. Despite their anxiety, they pressed on.

They didn’t wait for the “perfect” moment. Among the successful career changers, few had extra financial resources to help them make a change, and 30% had to take a PAY CUT. Half of successful career changers reported an increase in income over time.

They made the change in less than a year. It took the successful career changers 11 months to change their work situation, while career changers who viewed their change as unsuccessful took 22 months. Each month that goes by one must figure how much of their nest egg do they want to spend contemplating their next adventure.

They made the most of the skills they already had. The survey found that successful career changers used seven skills from their prior job; those who were disappointed with their career change only used two.

So what skills did the successful career changers tend to tap? The top five were: Problem-solving, interpersonal communication, public COMMUNICATION, reading comprehension and basic computer skills.

They ignored the conventional wisdom. You’ve probably read advice for career changers to network at career fairs or on LinkedIn, or volunteer to become a paid employee. The vast majority of successful career changers did not do these things.

That’s a little surprising but when I think of very experienced colleagues who’ve re-invented themselves in high-paying careers or business ownership .

Assuming you are not financially able to retire, everyone who falls victim to such circumstances is left will the same four choices. (The good news there isn’t a hundred to choose from).

Find a job in the industry you came from or a new industry
Start your own business
Buy an existing business
Buy a franchise.

Maybe a franchise is a perfect fit. Visiting one of our franchise expos will help you discover concepts that can fit your skills and interests.

Being a Great Franchise Candidate

Tue, 26 Dec 2017 17:40:31 GMT

Here are three things to remember on being the best franchise candidate.

We work with people throughout the country who are exploring business ownership for the first time. We have gone through the process of figuring out that they are right for business ownership and that a franchise model is the best path to explore.

Here are three things to expect and here are three things to remember on being the best candidate that they can be. Without this part of the conversation, the franchising process can break-down because both the Franchise company and the candidate are not aligned in their expectation about the process.

1. Stick to Commitments: Just like dating, missing a commitment even as simple as an email deadline creates doubt in the relationship. For example, I work with an increasing number of clients whose motive is to keep their job and develop an additional income stream. I suggest that during your initial call with the Franchise company you will have the opportunity to express what you do along with the responsibilities you have. This helps the Franchise company adjust the steps in their process to fit your ability to manage your workload and move through the process. I state you will be asked to mark dates on your calendar for calls, webinars, and follow up. I let candidates know that they can help manage the process by communicating well in advance if they must reschedule a call or need an extra day to complete the FDD review, or organize validation calls.

2. Always ask questions: You learn more about the business model at each step of the research process, continue to ask questions. I’ll pre-frame with my client that at each touch point in the process you will learn more and more about the business. Each touch point will generate different types of questions . For example, when preparing for the review of the FDD with the Franchisor, develop questions about what may not be clear from reading this legal document. When speaking with Franchisees (owners in their system), develop and ask questions that will help you visualize if you can see yourself being the CEO of this business and if those owners have been able to achieve the goals they set for themselves.

3. Reach Out: It’s okay to initiate contact. This shows your enthusiasm. You don’t have to wait until your scheduled appointment to ask a question or voice a concern. Showing your enthusiasm throughout the process can go a long way to be at the top of the pile when you go to Discovery Day or Meet the Team Day. Creating a positive and proactive relationship will help when it time for the Franchise Company to award their business to you.

Meet growing concepts in your area at one of our many expos and discover the best franchises to explore .

Are interested in evaluating a resale your franchise ?

Tue, 26 Dec 2017 17:34:52 GMT

If you have questions about resales or interested in evaluating a resale, attend our expo and meet one of the many resale experts that exhibit at our shows.

Frequently Franchisors will ask us at The Great American Franchise Expos to find qualified candidates for their franchises that are going to be resold within a market. We meet many people who look for businesses with existing revenue, cash flow, customers, employees, infrastructure etc. It is just as important to understand why the business is being sold from the Franchisors perspective as it is from the Franchisees. In dealing with a resale, understand that most of your time could be spent dealing with the seller, the franchisee. Here are some tips to follow to get the best understanding of what you could be buying:

Tips for Resales:

The Offer Price:
Get an understanding of how the offer price was developed. Is it a multiple of EBITDA, is it a multiple of free cash flow (FCF) and the value of assets that can be collateralized, or is it based on emotion. Understanding how the sell price was developed will put you in a better position to make a counter offer.

Seller’s Discretionary Income:
In addition to Net Income or owner’s salary, ask the seller to share with you how much money they have gained from the business. Ask the seller to include anything the business may have paid on their behalf such as cell phone, healthcare, auto expenses etc. Unearth any one-time expenses that you as the new owner will not incur. Backing these out will give you a better picture of free cash flow.

Revenue Trends and Owner Involvement:
Ask questions on how the seller grew their revenue year after year as a percentage against the previous year? Did the actual results meet their expectation?

Ask how active they were in the business community when they started and today and what type marketing they did to help grow the business? Ask how their marketing efforts changed over time. How active are you in the business community today and what type marketing do you do to help grow the business?

The better Franchisors work with their franchisees to best value the business and develop the offer price. Ask the Franchisor if they have an Executive Summary on the business being sold.

If you have questions about resales, are interested in evaluating a resale, attend our expo and meet one of the many resale experts that exhibit at our shows .

Franchise Association- Tremendous Asset to You as a Franchisee

Tue, 26 Dec 2017 17:20:20 GMT

If you are looking to become a franchisee, understand how an effective franchise association can be a tremendous asset for your franchisee.

“Can a franchise Association save my business?”

They can, they have and they will.

A bold statement? Maybe it even sounds a bit preposterous? I might agree with you if I had not seen it happen firsthand.

I rarely hear a franchisee candidate talk about a franchise Association. I suppose it makes a lot of sense as you’re looking at getting into a system. You’re thinking about costs, income potential, risks, fear, industry, number of units and location, etc. Folks are not typically thinking that far down the road. But boy it makes a difference in the long run.

As the Executive Director of the dominos franchisee association for 11 years, I remember getting a call from a desperate franchisee early on a Friday afternoon. He was having financial difficulties and was behind on payments to the company. They had refused to deliver food to his store, which would’ve caused it to shut down over the weekend. He was in a real panic and asked for my help. After a few hours of phone calls and back to back and forth with senior executives across the country, the company agreed to deliver his food. What a relief! I will never forget his gratitude and determination.

Eventually that franchisee got back on track, caught up on payments to the company and went on to be a successful franchisee. What a pleasure it was to make such a difference in his life. This is just one story of many. Over the last nearly 40 years I have seen many similar type situations. I have been involved in many, many, many tough spots with franchisees. I have been in the middle of these challenges, not just in Dominos, but with other major national brands over the years. I have helped national associations build strength and systems all focused on helping the individual franchisee.

The reality is franchise associations have played a key role in many franchisees lives. Whether it’s meetings with best practices, aggregating purchasing, lines of communication to the franchisor, developing relationships with vendors and suppliers, having fun with fellow franchisees at a convention, addressing major concerns in a collective manner, franchise association’s can be a tremendous asset to an individual franchisee…you.

We all understand we are stronger as a group. The reality is we are also wiser. When we put our minds together to address issues, concerns and operational challenges we are way more likely to succeed. Collective representation is key in a relationship that you have influence but not control over.

The franchise/franchisor relationship is inherently challenged. Contracts by necessity are one-sided and the basic profitability of the franchisor is typically based off of the top line sales. A franchisee’s profitability is based off the bottom line. This simple reality opens up the relationship for piles of smiles and potential trials. In this environment having collective representation is very useful. It’s not a union thing. It’s more about gathering consensus on issues and communicating those concerns and ideas. A great franchisor like Dominos understands that the association is offering a vehicle for discussion and communication in the other direction. Well respected and used with wisdom, this is a tremendous vehicle for building a solid and stable relationship.

Another key aspect of an effective association is saving its fellow franchisees money. When I was running the association we set up nearly 40 affinity partnerships with suppliers to aggregate purchasing and save the franchisees money. Everything from shipping to accounting to insurance was offered for a “special” price. Our value-added partnerships (VAP’s) added value to being a franchisee. I’ve been involved in negotiations that has saved franchisees multiple millions of dollars. I know one franchisee that took advantage of one of our value added partnerships and the savings in one year paid for 20 years of dues. Do you think he is still at member and grateful for the associations efforts?

It may seem far down the road when you’re beginning to look at becoming a franchisee, but an effective association can be a tremendous asset.

So as you’re looking to become a franchisee , find out if there is an association and make a call to the head of the association to talk about the company. Discuss what value they offer as an association explore the franchisee make up and their key concerns. Talking about the main issues will help you make a better decision in buying a franchise. Franchise Association’s can be a tremendous asset to you as a franchisee.

The great american franchise expo is filled with quality brands that support such associations and feature strong brands looking to expand.

Where do I Go to Find The Right Franchise?

Tue, 26 Dec 2017 16:48:10 GMT

There are many ways to find franchise companies. The question is how do you know whether it’s a good match for you.

Where do I go to find the right franchise?

Did you ever walk into the ocean until the water got so deep that you stopped walking and just started to swim to survive as the waves started to hit you? Is that a thrill or a bit scary?

That’s the way I look at finding a franchise. I know that’s the way many of us feel when we’re looking to find the right franchise to buy . It starts out kind of fun, exciting, even exhilarating as we begin window-shopping…and then?

I recently met a franchise candidate at a franchise tradeshow who told me “ when my wife and I began looking it was kind of fun and exciting, but as we talked to more people and looked at more franchises it just became a scary blur”. I have heard a version of this from many of the folks I have helped. It is a very common observation and feeling. It is just simply tough to filter through the massive amount of information and opportunities.

That initial excitement soon turns into overwhelm. Once you start contacting companies they start sending you information, they want to get your information, get you on phone calls, and before long start asking for commitments. They are asking you to review documents that look bigger than books, join in webinars and want you to come meet them. It can get tough really fast. How do you know what information is correct? How do you decide whom to trust? How do you know if this is right for you? How do you know if you are buying or being sold? It can be a pretty slippery slope.

There are a number of ways to find franchise companies.
• You can look on the Internet at franchise portals that display hundreds of different companies
• You can go directly to a company‘s website
• You can look around your neighborhood
• Maybe someplace you visited and had a great experience
• You can go to tradeshows and see the franchises displayed and talk to sales people
• You can read magazines or books
• Maybe a friend has told you about a franchise they know is successful

There is so much information out there you can literally get lost. I have heard it from so many people. They get frustrated, tired and overwhelmed. As the truism goes, “a confused mind does nothing”. That’s so often the case. We just simply stop.

They’re many ways to find franchise companies . The question is how do you know whether it’s a good match for you. Sometimes we work through the overwhelm and come out the other side with the franchise. Sometimes we come out the other side with a franchise that’s not a good match. We simply didn’t know what questions to ask , how to ask them and who to ask him to. So often we just do not know what to do to make sure we make a great decision.

With approximately 4000 franchise companies available there’s bound to be some bad ones. Those that will take your money without making sure you are a great fit for the brand. Sometimes a sales person can get a commission, a franchisor can pay some bills and put somebody in business even if it’s not the right business for the candidate (you).

How do you prevent this on your own? Great Question… If you do not have the experience, find someone who can help you think it through.

The Great American franchise expo features people from all walk of franchising, from financial and legal experts to franchise consultants. You will find their perspective invaluable as you approach discovering new concepts.

Understanding Franchise Contracts

Tue, 26 Dec 2017 16:35:54 GMT

Have you ever read a franchise contract and felt violated, maybe slightly abused, or maybe like you’re about to be taken advantage of

Franchise contracts...do they stink?

Last week, I had a franchise candidate ask me about “the contract”. He looked through it and was unsettled. He wanted my expert opinion on franchise agreements. Man…what a classic moment in helping folks figure this all out!

Have you ever read a franchise contract and said, “Oh boy, I can not wait to sign this”? Having said that, when you know you are with the right company you are good with it.

The question for the average franchise candidate ...Have you ever read a franchise contract and felt violated, maybe slightly abused, or maybe like you’re about to be taken advantage of. We all have.

I’ve never read a franchise contract that I was about to sign without feeling anxiety. I realize it’s just my own personal reaction, at the same time, I know I’m not alone. These things drive me nuts. What I do realize after being in the franchise industry for 38 years is that in fact, these tough contracts are necessary. They have to exist for a franchise company to succeed and in fact excel. You can’t have a strong franchise company with a week contract, it just doesn’t exist.

The company has to have the right and teeth in its contract to get rid of weak franchisees that don’t follow the system. Maybe they’re just not financially strong enough. Maybe they’re just not operationally strong enough. Maybe they just don’t believe in the direction of the company and so refuse to follow the company’s directives. There are many reasons why a company needs to have the teeth to create consistency, hold people accountable, develop the brand, maneuver as industries change, develop new technologies and ultimately have the ability to implement them.

If a company can’t do that, you don’t want to be a part of it. It’s critical for you as a franchisee to have a strong franchisor. It may not feel good when you read the contract and it may not feel good if you’re the one who gets a little out of line and needs to step back in, but it’s necessary to develop the brand.

To build a brand and maintain a brand is a big job. It takes strong leadership and a focused constitution. Protecting you as a franchise owner against other franchise owners that may not be strong enough, or care enough, or be willing to be part of the team, takes guts. That’s what you are, as a franchisee, on a team. It is you as a franchisee, as a fellow franchisee, and you as part of a growing, dynamic system that ultimately builds a strong brand.

In every franchise system, the more cohesive the franchisees and the franchisor are, the stronger the system. Sometimes that means towing the line when you don’t want to. Sometimes that means saying goodbye to a fellow franchisee who you may like but was not towing the line. That is just the reality, especially as a franchise grows, changes and develops into a bigger stronger organization. There will always be weak links to any chain. If a franchisor does not have the teeth or is not willing to take action, the entire brand suffers. Not good for your investment or anybody else’s investment.

It may not be comforting to any of us as we read a contract, but in the long run it’s necessary. So although these contracts seem to be almost offensive they are necessary and you need them to protect your own investment. Nothing is better than a great franchisee down the road from you, and nothing is worse than a bad franchisee down the road from you. You need a strong franchisor, just like you need fellow franchisees that are strong.

So be grateful for those of obnoxious contracts because in fact they are part of your lifeblood as a franchise owner.

I am not an attorney, I do not give a legal advice, and I’m not offering legal advice here. My point is simple. We need the strong contracts to protect our investments and to build a strong brand. Nothing is worse than a weak brand. Nothing hurts your investment more than a weak franchisor.

So even though these franchise contracts seem to stink, the one-sidedness is necessary. Make no mistake about it; it’s exactly what you want.

You can attend one of our shows and discover resources from the legal field and beyond to get a better sense of what to look for in contracts. Being prepared and understanding your playing field is critical to success.

What I have Learned from 20 Years in Franchising

Tue, 26 Dec 2017 16:16:50 GMT

Learn from my mistakes and success- you never know where life can take you.

Not all franchise companies are the same – some are great … some are good … some are just “OK” … and, some are bad (some even worse than bad).

Good franchise companies don’t want to “sell” you a franchise –they want to “award” franchises to people whom they believe will become successful.

Most of the money a franchise company makes from franchisees year after year comes from royalties the franchisees pay. That’s why the prior statement is true.

Good franchises won’t allow franchisees to open in a location or market where the franchisees won’t be successful. That’s why the prior two statements are true.

Most people become interested in franchises they patronize … in other words, if they like eating at Subway, they want to own one, whether it’s right for them or not.

Most people who buy franchises never read the entire franchise agreement … yes, ridiculous, but nevertheless, true.

There are three main reasons why a franchise owner in any type of industry fails:

1. The franchisee isn’t a good match for the role of an owner

2. The franchisee runs out of money before becoming profitable

3. The franchisee doesn’t “follow the program”

The franchise company isn’t going to run the franchise owners’ businesses for them – franchise owners have to run their business.

The other “half” of the franchising motto, “Be in business for yourself, but not by yourself,” is all about your fellow franchisees – your automatic peer group.

Once people buy a franchise , they never want to work for anyone else again!

Before you actually sign “on the dotted line” of a franchise agreement, you have to stare a hole in the ceiling above your bed as you lay in a pool of sweat … but then, you sign.

If you stopped 100 people in Times Square in NYC and asked by show of hands how many of them would like to control their own destinies by owning their own businesses, all 100 hands would go up … if you then said, “Keep your hand up if you have done anything to investigate business ownership, all 100 hands would go down – it would take a thousand hands before one would remain up – that’s your hand because you are reading this!

Come to the Great American Franchise Expo and discover what brands are out there, and are truly worth your time and efforts. You never know what you may find.

Explore a New Future with No Fear!

Tue, 26 Dec 2017 15:19:47 GMT

"I Will Not Live in Fear!" - Great motto, right? But how many people are living it?

Explore a New Future with No Fear!

"I Will Not Live in Fear!" - Great motto, right? But how many people are living it?

There are more types of fear than we could name or count, but they all tend to steal our dreams and destroy our destiny. In Who Switched Off My Brain, Dr. Caroline Leaf reports that fear "triggers more than 1,400 known physical and chemical responses - it actually 'marinates' the body in toxic chemicals and is the root of all stress."

One of the greatest thieves of our dreams is the fear of failure - it prevents us from trying new things or stretching ourselves to do more than we feel comfortable.

It can paralyze us and prohibit our ability to discover new things or create a better life. Destinies are destroyed by a fear of discomfort, fear of lack, fear of sacrifice, fear of something new. Fear always tells you what you're not, what you cannot do, what you will never be – not what you can be! Unfortunately, I've found that it usually lives up to its name - False Evidence Appearing Real - as many people simply forego the opportunity to explore options that may create the life they want due to preconceived assumptions or limitations and lack of knowledge of the wide range of opportunities out there.

I believe that each of us was created to enjoy life in abundance - to take bold steps to achieve the kind of life that few dare to dream. So many people are unsatisfied with their lives simply because they won't step out of their "safe zone," which may feel secure, but not always where the joy of life can be found.

Feel the fear and do it anyway. It will never go away completely. Feeling fear does not mean we are cowards - it simply means we are human. Do what you believe you were supposed to do to make your dreams a reality even if you have to do it afraid. You can always simply stay where you are today, but at least you can say that you gathered the information, explored your options and made a proactive decision that you are where you need to be.

The good news is that you do not have to do it alone! At the Great American Franchise Expo , we strive to provide you with quality concepts that can make business ownership a less feared pursuit. Come to a show and see for yourself!

I'll Know It When I see It!

Tue, 26 Dec 2017 15:15:43 GMT

Many people who are interested in franchising go about it all wrong!

Many people who are interested in franchising go about it all wrong. For example, a guy I know owns a non-franchised business that requires 24/7 demands on his time, not to mention the physical toll it takes on his aging body due to often being the "technician" in the business doing the actual labor. As a result, he complains constantly about his aches and pains and the fact that he is not achieving his financial and lifestyle goals.

Like many, he has been checking out countless franchise opportunities on-line thinking that something will jump out at him saying -

"I will just know it when I see it!"

Sounds insane, right? But, does it also sound familiar in some way? If so, let me ask you this - do you simply start driving hoping to end up somewhere that you want to be?

Of course not, you set your GPS for your destination and where you want to be. Just because the on-line pictures of the beach look nice, there may also be a multitude of spring break kids tossing furniture in the pool.

Your exploration of franchising should be done the same way. You start by clearly defining your "destination" - how much money do you want to make, how many and what kind of people do you want to manage (if any), where do you to be geographically and what is available in your area, what lifestyle do you want to enjoy, and more – then explore options and learn how to get there through the "road map" provided by the franchises that are the best match for you.

Is there some aspect of your life that you would like to change? Are you currently employed, but do not see a clear path to achieving your financial or lifestyle goals? If so, I encourage you to explore franchise ownership as a more effective way to achieve your personal and professional goals.

Come to our franchise shows and check out brands on a deeper level. Ultimately, the time you invest now during your search can save headache later.

A Time For Reflection

Mon, 11 Dec 2017 00:00:00 GMT

How much of your life did you spend commuting to work last year to help someone else get rich from your labor?

At the end of the year people often reflect on the previous months and look at things they would like to change. I would like to ask you to think about something for a minute and not get depressed by it. Rather, let it empower you to change in 2018. If you answer this honestly, I think you’ll get a lot out of it. If you don’t want to answer it honestly, you may have stumbled upon something that has held you back.

Here are 2 questions to think about:

1. How much of your life did you spend commuting to work last year to help someone else get rich from your labor?

2. How much time did you spend at work last year instead of with your family?

The average employee in the United States spends the equivalent of 100 hours (or 2 ½ weeks) travelling to work each year.

For those earning more than $100,000 in major metro areas, that number skyrockets to over 250 hours or almost 6.5 weeks.

If that number doesn’t make you stop and think. Here’s another to think about it.

Average retirement age = 62

Average number of years worked = 35

Average number of work weeks in a year = 50

35 years X 6.5 weeks commuting = 227.5 weeks

227.5 / 50 = 4.55 YEARS

Over the course of your working life – you will spend over 4.5 years travelling to a job

What if you put 4.5 extra years of time into you? What is that worth?

Those in full-time employment in the US spend more waking hours at work than anywhere else, and that’s why it’s vital to do something you are passionate about. For me, this has always been franchising: I love the fact that you can be in business with a proven method and partners who can help you along the way. The adage “be in business FOR yourself but not BY yourself” well describes what a solid franchise brings to the table.

If you have always wanted to be your own boss, there has never been a better time to start your own business and make 2018 your most fulfilling year yet. Instead of talking about taking the next step, why not set yourself a timescale and think about some key decisions, spend time developing your idea and see if your business ambitions are truly viable.

Before you do – here are a few questions to think about:

Are you suited to self-employment?

Before you do anything else, you need to be really honest with yourself and ask: am I truly cut out to start my own venture? You need to be calm, clear-headed and rational. When thinking about starting a franchise passion and enthusiasm are essential but you need to think with a business mind at every stage. You have to take a step back and try to be non-emotional when deciding if you’re ready to go it alone. Try and look at it in the same way you would if you were advising someone else. The best advice I can give is to essentially interview yourself. Would you back you to lead a company?

Is your business viable?

You probably already have a business idea in mind: most ideas come from a problem you’ve come across that needs solving. Your idea doesn’t have to change the world. The most successful business ideas are often simple, ingenious tweaks on an existing way of doing business, but delivering it faster, better, cheaper or more easily. You need to find your unique selling point. What sets your franchise apart from your competitors?

Research and planning

Once you feel confident about your idea, research and make sure there is a market for it. Give your idea a tough grilling. Ask yourself if your idea is fulfilling a genuine customer need: will somebody really want to buy your product or your service? And, if so, does the price you plan to offer it at match what they would expect to pay?

Make sure your business appeals to potential customers, take time to understand their wants, needs, concerns, opinions, behavior: only then can you build a business that meets their requirements.

Don’t be paranoid. Share your ideas. Tell as many people as you can. Ask for feedback and you’ll be amazed what you can learn. Somebody will give you a piece of advice or the one angle you hadn’t thought of that could make all the difference between success and failure.

Where can I get support and funding?

Once you have spent time analyzing yourself, your business idea and potential customers and feel that your business will earn money, you need to find the financing to help get it off the ground. Support and mentoring are just as vital in making your business a success. Make sure you seek as much expert outside advice as possible: it’s no good asking the opinion of a friend or family member if they have no idea about your sector. Seek advice from others in the industry. Businesses that have mentors are far more likely to still be trading after five years than those that don’t. This is one of the key attributes of a solid franchise system. Having mentors and support as part of the program.

Emotional Intelligence

Fri, 08 Dec 2017 00:00:00 GMT

“The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.”

“The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.”

― Adam Smith

If you are thinking of achieving independence through business ownership , a good place to start is with who you and what you are trying to accomplish. Most of my consulting work revolves around helping people define their search criteria in identifying franchise businesses that can help them achieve their goals. If you are interested in knowing yourself better and what kind of business owner you might be – read on or send me an email and I would be happy to send you more information that may be useful.

An important component of defining search criteria for a client is achieved through Emotional Intelligence - EQ – which is a relatively recent behavioral model, rising to prominence with Daniel Goleman and Richard Boyatzis’ ground breaking work. The early Emotional Intelligence theory was originally developed during the 1970s and 80s by the work and writings of psychologists Howard Gardner (Harvard), Peter Salovey (Yale) and John 'Jack' Mayer (New Hampshire). Emotional Intelligence is increasingly relevant to organizational development and developing people, because the EQ principles provide a new way to understand and assess people's behaviors, management styles, attitudes, interpersonal skills, and potential. Emotional Intelligence is an important consideration in human resources planning, job profiling, recruitment interviewing and selection, management development, customer relations and customer service, and more.

Emotional Intelligence links strongly with concepts of love and spirituality: bringing compassion and humanity to work, and also to 'Multiple Intelligence' theory which illustrates and measures the range of capabilities people possess, and the fact that everybody has a value.

The EQ concept argues that IQ, or conventional intelligence, is too narrow; that there are wider areas of Emotional Intelligence that dictate and enable how successful we are. Success requires more than IQ (Intelligence Quotient), which has tended to be the traditional measure of intelligence, ignoring essential behavioral and character elements. We've all met people who are academically brilliant and yet are socially and inter-personally inept. And we know that despite possessing a high IQ rating, success does not automatically follow.

Different approaches and theoretical models have been developed for Emotional Intelligence. This summary article focuses chiefly on the Goleman interpretation. The work of Mayer, Salovey and David Caruso (Yale) is also very significant in the field of Emotional Intelligence, and will in due course be summarized here too.

Emotional Intelligence - two aspects

This is the essential premise of EQ: to be successful requires the effective awareness, control and management of one's own emotions, and those of other people. EQ embraces two aspects of intelligence:

• Understanding yourself, your goals, intentions, responses, behaviour and all.

• Understanding others, and their feelings.

Emotional Intelligence - the five domains

Goleman identified the five 'domains' of EQ as:

1. Knowing your emotions.

2. Managing your own emotions.

3. Motivating yourself.

4. Recognizing and understanding other people's emotions.

5. Managing relationships.

Emotional Intelligence embraces and draws from numerous other branches of behavioral, emotional and communications theories, such as NLP (Neuro-Linguistic Programming), Transactional Analysis, and empathy. By developing our Emotional Intelligence in these areas and the five EQ domains we can become more productive and successful at what we do, and help others to be more productive and successful too. The process and outcomes of Emotional Intelligence development also contain many elements known to reduce stress for individuals and organizations, by decreasing conflict, improving relationships and understanding, and increasing stability, continuity and harmony.

Work Martyrs

Thu, 07 Dec 2017 00:00:00 GMT

Being self-employed is hard work. So is being an employee.

Being self-employed is hard work. So is being an employee. How many hours do you work a week? If you are like most of the employee readers of this book, you have probably worked fifty to seventy hours a week and travelled significantly. You work every bit as hard as a business owner. Most employees who are making upper-five- or lower-six-digit salaries usually spend most of their time and energy on their jobs. How many times have you dragged yourself home after a week on the road? How often did your exertions that week move your family’s financial needle forward? Did you get to determine where your time would be spent, or did you perform a task because the boss told you to go and do something? You did not write your job description. You probably have some kind of yearly goals that were “agreed upon” by you and your manager, and then you review them at the end of the year when you discuss your “performance.”

The self-employed, by contrast, do write their own job descriptions, and they tend to have very significant occupation goals; one of them is to become financially independent. They are independent in their actions, and their work is not graded by a supervisor. It is graded by the market. If they do well, their bank account grows. It follows that the self-employed actively seek out and spend time on activities that further their independence. If you are an employee, you are dependent upon someone else. Do not kid yourself. If you are dependent on someone else, it is likely that you have slowly, over time, become less self-reliant in planning your investments. Think about how much control you have over your 401k investments. You can choose from a menu of predetermined options. As an employee, you have the illusion of choice in many aspects of your working life. As Thomas Ward wrote, "Where to elect there is but one, / 'Tis Hobson's choice—take that, or none."

Either way, as an employee or as a business owner, you will work hard and have risk. Risk that you can control and act independently to reduce is calculated risk. Rolling up your sleeves and making it happen is the American way. As Yoda said, "Try not. Do! Or do not. There is no try."

To read more about “work martyrs” click on the link below:

http://www.cnbc.com/id/102363524