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Archive for the ‘Is a Franchise right for me’ Category

Franchise Opportunities

Posted by trinda On January - 19 - 2016

Is a Franchise Opportunity Right for Me?

The question you may have is whether a franchise will be right for you and if so, why you would pay a franchisor for a business you may be able to set-up yourself.

Here are the top reasons to select a franchise opportunity if you want to own your own business.

  1. Franchisor Track Record. A good franchise company has developed a method of doing business that works well and produces results. A franchise brand that has been around for a long time has already gone through the stages of understanding who is the right fit and what the successful business model looks like based on early franchisees in the business. In joining a more established franchise you are not the pioneer which results in higher rates of success.
  2. Your chance of success is much higher. The bottom line is a franchise is more likely to succeed than an independent start up, and the security of investing in a proven concept is worth its weight in gold. With a franchise, the chances of success are dramatically increased because you have the support of the proven system. The franchisor has already taken most of the risk.
  3. Training and Support. Franchise companies have staff dedicated to providing ongoing assistance to franchisees. Many franchise companies offer support through live chat, trainers and mentoring from more experienced franchisees. You’re not alone when you’re building and running your business, and you can always call on experienced people when you want to share new ideas for growing the business or need help with your own. A good franchisor understands that there are exponential improvements that take place when franchisees are connected and sharing best practices. In business for yourself but not by yourself. Look for a system that fosters on collaboration.
  4. Portability Some franchise businesses offer the ability to move or relocate from state to state or even to another country. With many baby boomers parents hitting an age where you need the flexibility to relocate and potentially play a more active role in there care or simply just spending that extra time with them this portability concept is becoming more important for many.
  5. No previous experience needed.  No previous experience in a particular business is necessary for a franchisee to operate it. However an established franchise brand will know based on history who their most successful or ideal candidates are and will be more favorable to awarding a franchise to this type of person. Any lack of knowledge on how to run a business is not a problem as a franchisor will provide the necessary training to the franchisee.
  6. Hit the ground running. Franchisees “hit the ground running” as they enter the market with a brand, marketing materials, proven business systems and products and or services which have been market tested over the franchisors tenure in business.
  7. You can be your own boss You can call the shots, you can have work/life balance and attend your sons soccer game, you can have control and you can build equity in your own business. If you follow the business system and use the support systems in place, chances are you will be your own boss for a very long time.

While buying a franchise does reduce your risk going into business it doesn’t mean you hang the sign and wait for things to happen. Just like university why do some pass and some do not? Why do some get 50 and some get 90 when they are learning the same things, have the same resources and the same professor? It’s simple what you put into your business is what you will get out of it!

Request more Information to learn about the WSI Franchise Opportunity

What Does Freedom Look Like?

Posted by trinda On January - 13 - 2016

Take control of your life and enjoy financial independence, flexibility and freedom that a WSI franchise can give you. Start your own business and join a network of franchisees in 80 countries who’ve already discovered the benefits of being a business owner.


What does freedom look like…

  • Flexibility to set your business hours
  • Being rewarded for hard work and building equity in your own business
  • Setting your own goals and having the tools to achieve them
  • Having control
  • No corporate bureaucracy
  • Building a future with no limits
  • Having the flexibility to relocate and expand your business

WSI believes that everyone has the right to the freedom, flexibility and choices that come with having your own business and we offer the support and training needed to make that business a success.

We are with you every step of the way, helping to build your business through a wide range of training, marketing support, collaboration, coaching and support.

What is your freedom worth?

Click here to learn more about the WSI franchise

Where’s your Yellow Brick road?

Posted by trinda On January - 2 - 2016

Where’s your Yellow Brick road?

Everyone has heard of the wizard of Oz and the famous movie of a young girl swept up by a cyclone and dropped into a fictional land of munchkins. Here the young girl is to follow the yellow brick road in order to see the wizard and get back home. Along the way there are a lot of bumps in the road but she meets many friends to whom she is willing to help.

The Wizard of OZ really depicts all of our lives in some way or another. Each one of us has a yellow brick road to follow and sometimes this road can lead to disruptions in our life like being part of a downsizing, a company going under or simply not being happy in the role we play today.

For me my journey has been helping people realize a dream of self employment and owning their own business. In the 10 years I have been in my role I have experienced and spoke with many very experienced professionals who had the dream of having a work /  life balance and were not able to find that in there then current situation so they embarked on the road of looking to own their own business.

One of the most rewarding things for me in what I do every day is making a difference in the lives of others. Getting that one phone call a year later that being in business for themselves has changed their life. I spoke with a couple many years ago and the wife was travelling many hours away from home to a big city for her position and having to stay there all week only home on weekends to see her family. Their goal was to be able to have a business they could be passionate about, not have to travel and for her to be able to see her children blossom into young adults as she has missed a good part of their early years. Business ownership offered them the opportunity to do this.

In looking at self employment I believe the most important thing is to find a business you can be passionate about, something that will help you to achieve your goals both financially and personally. It is important to have the work / life balance because our kids will only grow up once, there will only be one prom to take pictures for and I know myself I want to be proud of what I have done in life, what I have been able to achieve and hopefully one day I will be able to leave a legacy for my children.  Every day you should look in the mirror and say whom have I been able to help today, am I happy with what I am doing today and if I continue to do the something for the next 10 years will I achieve my goals. The yellow brick road has many options and going north or south is not always the best sometimes you need to head to the west or turn to the east to find the right path, your path.

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The Choice is Yours! Is a Franchise Right for Me?

Posted by trinda On December - 5 - 2015

The Choice is Yours! Is a Franchise Right for Me?

Owning and operating a small business was once the exclusive domain of the risk takers of the business world. The true entrepreneur had a distinct flair for creativity, innovation and vision.

Well, times certainly have changed in the business world. More so recently as many companies are faced with  uncertainty and layoffs become the norm rather than the exception.  As such, many individuals including more females than ever before are deciding enough is enough. Wanting to control their own destiny they’re increasingly choosing small business ownership as opposed to leaving their future in the hands of Corporate America.

Sure, the financial aspects are vitally important. That’s a given. However, today’s new small business owners describe their number one priority as establishing true balance in all areas of their life. They desire the freedom  and flexibility of furthering their own personal growth, finding it more important to help others improve the quality of their lives and build long-term mutually beneficial relationships; both business and personal. They firmly believe people and relationships to be the foundation of success even more than money itself as they have determined money (profits) will be the end result of their actions.

This is where the road gets tricky as a decision must be made between starting their own venture and assuming total risk or reducing the learning curve and limiting the risk by investing in a franchise where they would be in business for themselves but not by themselves. The key question posed by many emerging small business owners are “Can I achieve my goals and objectives as part of a franchise system?

Franchisee Mindset

In addressing these questions (and concerns), it’s relatively easy to analyze  the viability of a particular franchise brand. The answers actually lie in understanding the mindset required to be a franchisee. Once understood, a choice must be made regarding the desired path either as an independent small business owner or as one of the hundreds of thousands of franchisees across several thousand franchise concepts worldwide.

The typical franchisee must be willing to follow and adhere to a franchise company’s business system and ultimately, promote the same within their new franchise community at all times.

A franchise is almost definitely not the right choice for the business maverick or renegade. Certainly, there is an important place in business and in our hearts for these unique innovators. If not, we wouldn’t know Apple or Dell Computers as they’re known today. Even McDonalds, as probably the greatest franchise of all time that stormed through the country under the leadership and direction of a true maverick, Ray Kroc, would not have been successful without franchisees being required to strictly follow and adhere to the McDonalds system without fail.

Entrepreneurs will be around for centuries to come blazing trails as never before. Some will actually plan to choose franchising as an expansion strategy and build the foundation of future franchise concepts. They will provide a choice for tomorrow’s small business owners on whether to go it alone or invest in a franchise. It will be those franchisees of tomorrow that will follow, promote and expand those systems that will prove to be the steel, bricks and glass built upon the foundation of new franchise companies. Thus, continuing the growth of franchising as it expands throughout the world; truly a way of giving back by affording people more opportunities and options in determining the path to small business ownership that suits them best.

The biggest reason people look at a franchise today in addition to controlling there own destiny is that a franchise gives you the ability to take your experience and knowledge and put it into a working business model. Essentially a Business in a Box.

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Is it time to change Your Career?

Posted by trinda On November - 15 - 2015

What is your first thought every morning from Monday to Friday?

If you seem to be mumbling about how you hate your job, have no control or simply do not agree with the directions or values of your company, then you’re probably one of those people who really do need to make a change.

Maybe the job isn’t the problem, in which case a job switch wouldn’t help much. This may be the time where looking at going into business for yourself  has never been more appealing.

Here are some signs that it’s the career to blame not you — and that it’s time for a change.

You have reached the Ceiling  You don’t seem to be moving forward in your career no matter how hard you try. The positions above you are limited.

When did my kids grow up? The corporate grind and travel has been so taxing on your time and family life that one day you woke up and your first thought was how did my kids get so big. Where did time go?

Your happy go lucky attitude is gone  Thanks to your corporate position, you don’t have patience for anyone and quite often it is just easier to do it yourself.

Mental Exhaustion  You seem to be tired all of the time. Your position has become like a soul-sucking demon leaving little, if any, life in you.

If all or most of these feelings sound familiar to you and your own career situation, you need to take control. Try various ways to add more meaning to your work, even if that means asking your boss to change or add more responsibilities.

If you’ve tried this and other approaches and you still experience a draining situation, it’s time for major change. Perhaps now is the time to consider taking everything you have learned in corporate and putting it into your own business.

Perhaps a franchise is an opportunity for you to have a proven system, be in business for yourself but not by yourself. 

Start-Up VS. Franchise

Posted by trinda On July - 1 - 2015

Start-Up VS. Franchise

Buying a small business is a major career step. One of the first decisions you’ll need to make relates to the type of business you hope to acquire. Specifically, you will need to decide whether to start your own business or a franchise.

Some professionals thrive as independent business owners, while others are more likely to prosper as franchise owners. In reality, there are no easy answers to the startup business versus the franchise . Instead, you will need to carefully evaluate the factors that differentiate the two approaches.

1. Ownership Model

From an ownership perspective, a franchise is very different than a start up business. A startup business offers you the ability to grow the business products, processes, offerings and systems from the ground up.

But on the other hand, owners don’t have the security of knowing that product lines, service offerings and other ownership decisions have already been tested and optimized for the marketplace. In other words, although franchise owners sacrifice building and developing the business from the ground up, they enjoy the security and stability that comes from belonging to a much larger organization with a proven track record.

2. Cost

Independent business owners are likely to have higher investment costs to buy and operate their business, but they also have more control over the investment decisions and timing thereof. For example, if cash is tight, independent business owners can delay remodeling or expansion plans. They can also choose to downsize the scope of the projects they pursue.

Franchise business buyers typically have lower total investment costs (especially upfront), but need to fulfill the obligations set by franchisors. For example, in addition to an upfront franchise fee, franchise buyers are required to pay royalties on an ongoing basis.

3. Brand Recognition

In most cases, franchise buyers have an advantage over independent business owners when it comes to brand recognition. Unless the independent business seller has proactively cultivated the brand, it’s unlikely that the business will enjoy the brand recognition that comes with standard franchise business opportunities.

4. Operational Resources

Franchise businesses tend to be popular with buyers who lack extensive business or industry experience. Certainly, experienced business owners also buy franchises, but franchisors make it easier for first-time business owners to succeed by providing access to a business system, corporate support, a supplier network and other services.

Independent business owners, on the other hand, typically have to go it alone. In return, however, they get complete control. Although independent business owners retain total control over their companies, they don’t have access to the support franchisors provide their franchisees in marketing, operations, supply chain management, human resources and other departments.

5. Success Rate

A study by the International Franchise Association (IFA) suggested that at many as 95 percent of new franchises were still in business after five years, and 91 percent after seven years.

According to the US Bureau of Labor Statistics and the US Small Business Administration  just over 30 percent for independent start-ups last longer than 10 years.

As a business buyer, you need to evaluate each potential acquisition on its own merits. Both franchises and startup businesses fail every day, and at the same time, people clearly have success with both models.

Ultimately, the decision to buy a franchise or start a business business may boil down to your personality as a business owner. If you can’t see yourself growing the business products, processes, offerings and systems from the ground up , then a startup likely isn’t the right business model for you. However, if you prefer the security, stability, and benefits of participating in a larger organization, then  a franchise may make more sense than starting from the ground up.

For more information and to Be your Own Boss  email ttresham@wsifranchise.com

Who Said Your to Old?

Posted by trinda On June - 29 - 2015

50+ Boomers are now the fastest-growing group of new business owners in the U.S.

Boomers are attracted by the freedom to act upon there ideas as they see fit, the chance to achieve much better balance between there work and leisure lives and the opportunity to enjoy a source of income that’s only limited by personal ambitions. Who ever said you were to old is clearly mislead. Even many retired professionals are coming out of retirement to start there own business as one realizes they can only play so much golf!

As attractive as self-employment may appear at first glance, it’s important that you carefully consider the following  criteria when considering whether to take the plunge.   

  1. Look for a business that you will enjoy. This is especially important if you’re feeling burnt out emotionally from the demands of your corporate career. A good starting point for identifying the right business idea for you can be to visualize how you can turn your passion and strengths into a business.
  2. Understand the income potential and whether it matches your needs, and how much you are comfortable investing. Take a hard-nosed look at start-up costs and the return.
  3. Match the physical demands of your chosen business to your energy level. A business that requires putting in long hours every day, or hard physical labor, may not suit you at this point in your life. On the other hand, if you love the outdoors, planning and planting landscaping or working in one of the building trades, by all means dig further into the possible business opportunities, but be honest about the sustained physical stamina that will be demanded to earn a steady income. If you are not looking to have a business with such physical demands there are other franchises that are more white collar and B2B.
  4. If day-to-day variety is important to you, rule out businesses that involve doing the very same thing for each customer. The idea here is to find something that will keep you passionately interested. Not every detail of running a business is equally interesting, but you want to assure that your business offers enough different experiences so that you remain eager to get up every day and run your business.
  5. Do you love or hate technology? While most businesses require some computer use, consider the extent to which you’ll need to use other technologies – like wireless gadgets, the Internet, and various types of software – to help you manage your business.
  6. Consider if you’re ready to learn a complete new set of skills or primarily wish to build off of skills you already possess. Every new business owner has to learn some new skills, such as office administration or Internet marketing. But, it’s very important that you honestly assess how well you know the “nuts and bolts” of your prospective business idea, otherwise you face a steep learning curve your first year in business, at the same time you face the daily demands of selling your product or service. A franchise system may be the way to go if you want a ready made system and are not looking to invent the wheel.
  7. Weigh your options of a Start-up vs A Franchise.  A start-up business offers you the ability to create and invent the business. It will take a lot of resources and time to do this so be prepared to put the time and money in. A franchise business allows you to skip the build and invent process and just align yourself with a proven business model and apply your skills and experiences accordingly.

At the end of the day what is most important is to do something you are passionate about , have a solid plan and the rest will come.

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Do you want to Quit your Day Job?

Posted by trinda On June - 19 - 2015

Do you want to Quit your Day Job?

What defines a good business Owner?

Attitude: 60% –Winston Churchill said: “Never, ever, ever, ever give up.” If you really believe in what you’re doing, your passionate and you truly want it you can achieve it. Settle in and mentally prepare yourself to work. Overall positive attitude is the deciding factor in the success of your business. Attitude is what separates very successful people.

Network: 20% –The relationships that you develop and maintain over the years matter a lot. Ask the people you want to access how you can help them. That will open up far more doors for you, if you lead with “how can I help you?” Not everyone has a network and if this is the case you will need some support and guidance in creating one a franchise may offer a good way to do this as there is already a proven system in place.

Skills: 20% –Anyone can learn the capabilities of the business if they truly want it, pedal to the metal. You have to want it. If you are not someone who wants to create something for themselves then perhaps other business options are more feasible such as buying an existing business or buying a franchise.

So do you quit your day job and follow your dreams only you know the answer to that. 

 

Feeling Secure With Your Own Business

Posted by trinda On June - 1 - 2015

Feeling Secure With Your Own Business

In Business For Yourself

The “in business for yourself” part is that you are the owner, you call the shots. You can work with the clients directly, expand the business as you choose. create your own hours and availability, and in general organize your operation to suit your needs and style. At the same time, you’re working within an established formula that you know works, because 100’s of franchisees in our case around the world have tested it. You don’t have to perform the risky tasks of market research and testing to determine what works this is already an existing business model working breathing and evolving.

All this translates into that golden word we mentioned earlier: security

With a  franchise, you have the complete picture, and don’t have to work in the dark. Nor do you have to worry that you’re unsupported or aren’t moving into a strong market, like you would with a more traditional small business. A WSI franchise has all the best elements of traditional employment and self-employment rolled into one strong, effective package. A proven system, strong creditability, global partners and ability to use your experience and skills is what provides security and long term success to our franchisees in over 80 countries.

Downsized, Restructured, Not Happy, Now What?

Posted by trinda On May - 27 - 2015

You’ve been laid off, downsized or restructured . You can’t find employment or you are just not happy with what you are doing. Have you considered starting your own business?

So you have been laid off, let go, downsized, or however you want to put it, once someone has been out of work for any amount of time it can be difficult to get back into the workforce.

People with the best chances of landing that new career tend to find new opportunities quickly. Those who come from industries that are downsizing or who have outdated skills can wind up unemployed for months or even years.

When older workers lose their jobs they are out of work for a long time, according to the AARP Public Policy Institute.

Nearly two-thirds of unemployed workers age 55 and older say they have been actively searching for a job for more than one year, compared to just one-third of younger workers, a recent survey by the Heldrich Center for Workforce Development at Rutgers University found.

“When there’s a large supply of unemployed workers, employers can afford to be choosier, and they’re opting for workers that are less expensive or more recently trained,” said Sara Rix, senior strategic policy advisor for AARP’s Public Policy Institute.

If you can’t find a new career, does it make sense to wait months and months and use up your resources or make a change and start your own business.

Starting a business can be risky. First, unless you have credibility, an unfair advantage in your market or a proven, profitable business model, you’re most likely going to have a hard time showing your value. So you’ll be unpaid for some time. Secondly, no matter how much you have a vision and passion for your start-up, you have to face the very sobering statistics that 70% to 80% of start-ups fail to see their return on investment (source). So, in some sense, starting a business is risky. However there are options that decrease this risk greatly such as franchising.


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