Business services franchising usa february 2016 4#4 2

Page 39

FranchisingFeature spo rts S & S fiERV tnesss BU SINES ICES

F E B Rjune U A R Y 2200 1 6 5

how

social media can make or break your brand

business services feature

Are You Overlooking the Option of

Self-Directed 401K to Finance Your Franchise?

Franchising USA

BUSI N ESS SERV ICES fr anchising

what’s new!

Alta Mere implements rebranding strategy to enhance customer experience

Alta Mere Automotive Outfitters, a national franchise offering a complete selection of automotive aftermarket high-tech retail accessories and installation services, recently underwent a national rebranding that included several new products and features to enhance the customer experience.

Alta Mere introduced two new features in the company’s line of operations – paint protection services and car accessories including a focus on driver safety. Their paint protection guards against damage done by rocks, pebbles, road debris and snowmelting chemicals by applying a precision cut protective film to the exterior of a car. The franchise offers a premium line of accessories such as security and radar detection systems, remote starters and keyless entry, GPS tracking, and hands-free phone systems, while continuing their most popular service, custom window tinting.

The Alta Mere updated their showrooms with six digital menu boards featuring video demonstrations and price guides for each of the products and services offered by the store. The rebranding began in the fall of 2014 with the Alta Mere store in Oklahoma City, which experienced a 15 percent increase in sales over that time. All new Alta Mere stores will replicate the appearance of the Oklahoma City showroom, while existing stores will incorporate the updates pending their individual budgets. www.moranfamilyofbrands.com

Service Team of Professionals celebrates a great 2015 in Las Vegas Service Team of Professionals (“S.T.O.P.”) may be one of the smaller restoration brands at this time – by location count. But the service footprint of STOP’s 35 locations (providing mitigation and repair for water damage, smoke, fire, and mold) is comparable to about 100 locations of most other brands; credit to STOP’s huge territories and their system of building large franchisees.

If you attended STOP’s year-end meeting and awards banquet in Las Vegas last month, the validity of STOP’s large territory / fewer locations model would be glaring. In a room of only 50 people, mostly couples, awards went to five STOP

Franchising USA

franchisees; one that hit $1,000,000 in

2015 sales, 4 of which did $2,000,000 $7,000,000!

“We know how to build large companies

and STOP is a management and marketing weighted program” said Brian Clark, a

consultant with STOP. To be fair, STOP

has over four decades of experience in the industry (providing their knowledge and

support in a consulting format, prior to franchising). STOP provides deep support and close interaction with its franchisees.

“We are not touting a goal to replace your old job’s income” Brian points out.

“We are looking for high-commitment, big thinkers that want to dominate their market. www.stoprestoration.com

Minuteman Press Franchise Opportunities Available for Aspiring Entrepreneurs Serving the business community for over 40 years, Minuteman Press’ customer service driven business model provides digital print, design and promotional products and services to businesses from concept review through to completion.

Today we are much more than just print; we can provide anything you can put a name, image or logo on! Our new slogan – We Design, Print & Promote… YOU! – indicates the wide variety of products and services we offer that go beyond printing. For more information, visit www.minutemanpress.com.

Minuteman Press International is a number one rated business service franchise that offers world class training and unparalleled ongoing local support. Minuteman Press opened in 1973 and began franchising in 1975. Today, there are more than 925 locations worldwide including the U.S., Australia, Canada, South Africa, and the United Kingdom. Minuteman Press aims to grow to more than 1,000 franchises within the next three years. Prior experience is not necessary to own and operate a successful Minuteman Press franchise.

Learn more about Minuteman Press franchise opportunities at www.minutemanpressfranchise.com.

International Franchise Professionals Group Invites New Members The International Franchise Professionals Group (also known as IFPG) is a membership based organization that has over 800 members. Our members consist of Franchisors, Franchisor Brokers, Lenders, and other Franchise Professionals that help potential candidates in the process of buying a franchise.

Hundreds of nationally recognized franchise companies have chosen the IFPG and its members to represent their brand; hundreds of experienced franchise consultants and brokers have chosen the IFPG to power their business. All of these individuals understand the value of being associated with IFPG. The IFPG is a strictly membership based organization that does not participate in any referral fees from our franchisor members or our brokers, thereby allowing all of our members to work freely together. Our long-term success is predicated on retaining our members and providing all the tools needed to help you sell more franchises, and close more deals.

Call us at (888) 977-IFPG or visit www.ifpg.org.

Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 41

BUSI N ESS SERV ICES fr anchising

what’s new!

New Year Brings New Franchises to Image One USA

Just months after announcing its franchise affiliate program, Image One USA, a commercial cleaning franchise company headquartered in the Chicago area, is expanding its business hub across the United States.

In keeping with the company’s growth projections for 2016, two new franchise affiliates announced their opening in January — one in Cincinnati, Ohio and the other in Nashville, Tennessee.

The company is on pace to add additional franchise affiliates in the months ahead.

“I think this expansion shows the momentum we’ve had in the Chicagoland area, and how that momentum is now carrying outside the region,” Tim Conn, director of operations for Image One USA says. “The goal is to spread our business model all across the U.S., so to have two new franchises in just a few short months of starting that endeavor is pretty amazing. Hopefully we can continue this momentum.”

In Image One’s franchise affiliate arrangement, individual owners market goods and services for their Image One franchise as a way to drive additional revenue and hit the ground running, faster. The hyper-local approach Image One has taken to franchising empowers entrepreneurs who are involved in their community to capitalize on existing relationships to develop a variety of new accounts ranging from offices and movie theaters to auto dealers and medical

facilities with a whole crew of dedicated employees.

Image One has more than 80 commercial cleaning franchise locations throughout the Midwest. Immediate franchise and affiliate expansion plans call for locations across Texas, Florida, Georgia, Tennessee, Kentucky, Wisconsin, Illinois, Indiana, Michigan and Iowa.

For more information on the Image One franchise, visit imageonefranchise.com.

Commercial signage franchise sees continued growth and opportunity allowed by local zoning regulations where other signage is not.

Boulder Designs is a non-complicated franchise system coupled with low entry cost and minimal inventory requirements.

Our franchises produce custom boulders

that make great commercial signage. They are earth-friendly products that can turn

any business into a landmark and are often

Franchising USA

Boulder Designs signage has the ability to turn any business, park, memorial, or subdivision into a landmark. In addition, the flexibility of the Boulder Designs system allows you to transition from your job into business ownership gradually as you do not need employees or a store front to start off like other franchises.

Boulder Designs also integrates easily into existing businesses. Take a look around and imagine the potential that exists with Boulder Designs. Businesses,

churches, schools, parks, associations,

municipalities, even memorials. Because of this we see continued growth and opportunity.

Boulder Designs® is certainly one

franchise opportunity developed around people who love to work with others. If you are looking for a rewarding career, or developing a niche market for your

company, Boulder Designs® may be what you’re looking for.

boulderdesigns.publishpath.com/ franchisee

Franchise Dynamics and The Pizza Press are making news

The franchise sales outsourcing firm, Franchise Dynamics, has seen success over the past 15 months working with California-based publish-your-own-pizza concept, The Pizza Press. The energetic leadership and viral cultural popularity have helped Franchise Dynamics find new franchisees ready to help grow the brand.

Franchise Dynamics operates on a cost-justifiable compensation schedule. Unlike other franchise sales outsourcing firms, Franchise Dynamics does not require a percentage of royalties once it makes a sale. The goal is to help franchisors focus on operations and growth strategy while Franchise Dynamics focuses on managing leads from inquiry to agreement signing. franchisedynamics.net

ANY LAB TEST NOW provides businesses a one-stop solution for employee lab tests and wellness ANY LAB TEST NOW is a franchise direct access lab testing company that provides a one-stop solution for businesses.

With more than 150 facilities around the U.S., ANY LAB TEST NOW provides businesses with general health and safety services and affordable and confidential lab tests in a professional, convenient, and cost-effective manner.

Companies across the nation use ANY LAB TEST NOW for a wide array of services including flu shots, employee health events, Employee Wellness Discount plans, criminal background checks, DOT and non-DOT drug and alcohol testing, proof of immunization and hepatitis testing, TB screens, and occupational exposure and heavy metals tests as required by OSHA. When companies work with ANY LAB TEST NOW they have one partner to cover required employment tests as well as support employee wellness.

To make it as convenient as possible many locations offer online drug test results. Candidates and employees benefit from workfriendly hours, including Saturdays. With most tests people are in and out in fifteen minutes. Companies enjoy the wide menu of services ANY LAB TEST NOW offers because they coordinate through one provider.

To learn more about ANY LAB TEST Store in store model inside aNOW, Walmart visit in suburban Atlanta, GA. www.anylabtestnow.com or like us on Facebook, www.facebook.com/anylabtestnowcorp.

Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 43

BUSI N ESS SERV ICES fr anchising

Featu re

b y G i n a G i l l Fr a n c h i s i n g U S A

business services ure Feat In order for a business to remain functional and successful, it is dependent on other businesses to serve and supply them properly.

Operating a business service franchise can be a safe investment for a first time franchisee. It usually comes with a guaranteed high end client base that allows a lot more freedom and financially security from the beginning.

There are many different types of business services that one might consider, but they all contribute to other companies and consider the business market their main clientele which generates more money than an individual customer and usually purchases in bulk.

Cleaning services This is one of the most successful business services available for franchise. Every type of business has to remain clean and the

Franchising USA

bigger the company, the more likely they will hire outside to keep in tip top shape.

A lot of these franchises come packed with automatic clientele within that area like hotels, office buildings, restaurants.

If a franchise you are considering has a contract with a chain of establishments, you’re likely to pick up their business in your location.

A negative aspect of the cleaning franchise is the afterhours. People tend to rent out services once their doors are closed.

Sometimes a hired staff will perform most duties, but a franchisee may have to make themselves available afterhours depending on the situation.

Though the cleaning industry is expected to hit $175 revenues in the next three

years, it only accounts for 10 per cent of total revenues that occur in the franchising industry. It packs a mean financial punch but there is not a variety of choices for those interested in this field.

Accounting Services A lot of businesses will seek out professional accountants to help with payroll and budgeting, as well as tax processing. Companies want to depend on others to keep them in line and make financial predictions to insure successful outcomes.

Again, accounting firms usually have a set of clients that could benefit a franchisor from the beginning of set up. It would be beneficial to have a background or

Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 45

BUSI N ESS SERV ICES fr anchising

Featu re

b y G i n a G i l l Fr a n c h i s i n g U S A

“Some shipping services can be extremely successful and profitable...

All businesses, especially any form of retail is dependent on shipment in order for them to make product.�

training in the field but it is not always necessary. Though employees may take a hefty annual salary, there is not a large staff. Individuals are able to take on many clients at once.

A franchisor will compete with a smaller private business, which can be an issue if that business is well-recognized in the community.

Packing and Shipping Services Some shipping services can be extremely successful and profitable. For example, Fedex and UPS are some of the most successful franchises. It is very rare that a company will have their product depend on a privately owned shipping company.

All businesses, especially any form of retail is dependent on shipment in order for them to make product.

Though this industry suffered with online communication and less physical mail being shipped, it has a $4 billion dollar revenue and a lot of franchises have a secure and established brand across the country and internationally.

Franchising USA

Maintenance and Repair Companies are not likely to have a professional maintenance service on site.

Demand for repairs comes when a problem arises, rather than a part of everyday tasks. As an emergency arises, some business will seek out a professional on an individual basis but bigger companies prefer to have a reliable and secure contract with a well known franchise.

It’s important to hire the proper staff and it’s beneficial to have some background knowledge in the area.

“A downfall with tech services is the 24 hour presence. Though it’s easy to gain customers outside your location, due to time differences services must be offered throughout the day to accommodate clients’ needs.”

Suppliers Rather than purchase supplies at retail value, businesses work with a supplier to help provide non-profit items, such as cleaning products, sanitary products, office supplies and so much more. Again, this field usually has established chained customers.

This type of services usually offers a great schedule because though it is based on demand, franchising can set up their services online and ship them out at their earliest convenience. The franchise can set restrictions on companies about when orders can be placed. However, it can be risky because the supplying industry is competitive and a contract usually has to be secured. Choose a franchise that has a lengthy resume of clients and a lot of experience.

Tech Services Nowadays a company cannot function without electronic communication and services. Though it is a part of everyday life, most businesses rely on another company to supply support and repairs.

Businesses need to stay up to date on all advancements in technology to continually please their immediate customer base and produce successful and time efficient results.

Though technology usually makes our lives easier, they have a tendency to require updates and repair.

A background in this field would be helpful but maintenance and installation can easily be learned and training is offered by the franchisor.

A downfall with tech services is the 24 hour presence. Though it’s easy to gain customers outside your location, due to time differences services must be offered throughout the day to accommodate clients’ needs. Technology is continuously changing and franchises in this field would have to remain updated to service their clients and stay ahead of the competition.

That being said, franchisees will find themselves in continuous training sessions.

When stepping into the field of franchising, business services is safe and usually comes with a decent amount of established clients. Franchisees have to deliver and perform the services of the upmost quality to keep clients, be consistent with the franchises model and lengthen contracts. Training and support staff is easily accessible and if followed properly can lead to success without a lot of time consumption for the franchisee.

ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.

Look out for our next special feature:

HEALTH AND BEAUTY FRANCHISING Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 47

BUSI N ESS SERV ICES fr anchising

Marsha Friedman, Public Relations Expert

HOW

CAN Make or Break Your Often – much too often in my view – I talk with CEOs who are still resistant to getting involved with social media. It’s as if they view sites such as Facebook and Twitter as little more than pesky annoyances that are irrelevant to what they do.

They fail to recognize just how powerful social media can be as a tool that allows them to promote their brands, communicate with customers and handle damage control when complaints come tumbling in.

What they don’t realize is that abstaining from social media really isn’t an option any longer. Social media carries on with or without you, and if you own or manage a business there’s a chance you are already a part of it – through people’s reviews and comments – whether you like it or not.

Recently, I was thinking about the changing ways in which businesses and customers interact, and I asked Jay York and Brittany Vaill, two social media strategists at my company, for their insight

Franchising USA

about the role social media sites play in that interaction.

“One good example is how Facebook is being used as a customer-service platform,” Jay says. “Customers can go to a company’s Facebook page and send the company a message instead of making a phone call or sending an email. People want to talk to you on social media and they expect you to talk back.”

If you don’t have anyone managing your social media accounts, though, those consumer questions and complaints are met with silence – and that’s not good.

Jay encountered such a situation not long ago when he began handling social media for a client. Previously, no one had monitored the company’s accounts. Ill will had been building with customers who had issues with the company’s product, but were getting no response to their complaints.

One of Jay’s first tasks was to begin responding to those unanswered social media posts. He was able to start building good will as a result.

“You have to be there,” Jay says. “If the only way to contact you is through email or by phone, then that takes away a quick means of communication that many people want and expect.”

Brittany reminded me that many daily newspapers traditionally have had

restaurant critics, movie critics or theater critics whose opinions could sway an audience.

“But today everybody can be a critic,” Brittany says. ““That means you need to step it up and be on your game because you never know when a disgruntled customer is going to show up on Twitter with an angry tweet.”

Brittany and Jay say there are at least four ways social media is transforming the interaction between businesses and consumers:

• Quality of communication The rise of social media and various social media tools, such as Facebook Messenger, has made communication much quicker and much better. Anyone now can dash off a quick comment or question at nearly any time. The same speed of communication goes for you as a company for whenever you have an important or timely message to share.

• Variety of audiences Social media isn’t something that only young people use. Every generation is represented. Name a demographic and you can target them and reach them through social media.

• Responsiveness You can respond quickly to customers’

r Brand Marsha Friedman

questions, concerns and needs. That helps you build one-on-one relationships with customers who become loyal and spread the good word about your company on their social media sites.

• Transparency

“Customers can go to a company’s Facebook page and send the company a message instead of making a phone call or sending an email.

People want to talk to you on social media and they expect you to talk back.”

- Jay York, EMSI Public Relations

The whole world can check in on how you handle those consumer questions and complaints. “If you go on a site and see that a company is responding quickly to its customers, then you are more likely to want to do business with them,” Brittany says. Of course, the opposite also is true.

Never before have companies had to compete in quite this way. Years ago, consumers had no quick and easy way to gauge the reputation of a business, unless perhaps a neighbor or a cousin happened to have done business with you.

Now they can see what the world thinks about you. And you certainly want them to think only the best.

That’s why social media is not just a pesky annoyance anymore. It’s an important piece of your marketing that should command your attention in as professional a way as every other piece of your business.

Marsha Friedman is a public relations expert with 25 years’ experience developing publicity strategies for celebrities, corporations and media

newcomers alike. Using the proprietary system she created as founder and CEO of EMSI Public Relations, an awardwinning national agency, she secures thousands of top-tier media placements annually for her clients. The former senior vice president for marketing at the American Economic Council,

Marsha is a sought-after advisor on PR issues and strategies. She shares her knowledge in her Amazon best-selling book, Celebritize Yourself, and as a popular speaker at organizations around the country. www.emsincorporated.com

Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 49

focus

Fresh C oat Painter s

Painting Franchise Aims to

Professionalize Industry and Double Numbers in the Process Already active in 35 states, Fresh Coat Painters looks to expand that number significantly in the near future.

“I would like us to double the number of franchises we’re in within the next two years,” company president Tara Riley said during a recent interview from Fresh Coat’s Cincinnati headquarters.

In operation for a little over 11 years and franchising for over 10 years, Fresh Coat Painters does both interior and exterior residential and light commercial painting.

With more than 130 franchises, Fresh Coat is a home-based business that is active

in Texas, Florida, Ohio, throughout the mid-west and in the mid-Atlantic states.

But, the company has territories available across the United States.

Riley said the company has a significant veteran presence among its franchisees and also mentioned that over 20 percent of the company’s franchises are femaleowned businesses.

Fresh Coat franchisees tend to be owneroperators that have business experience and understand how to scale up a business, Riley said. Many of them have come from corporate middle management executive positions and are looking to transition into business ownership.

“We have a variety of people who are successful in our business model,” Riley said.

Professionalizing the Industry According to numbers from IBIS, there are currently an estimated 259,775 painting companies in the United States.

If you also factor in people who perform painting jobs, but don’t officially classify themselves as a business, she added, that number could easily double.

With so many painting subcontractors within the country, the Fresh Coat president said, the light painting industry is extremely fragmented.

“What we find is the need is to professionalize the industry,” Riley said.

Homeowners want true customer service when it comes to any kind of contracting, she explained, and the greatest opportunity to professionalize the customer service side of contracting is in the residential and light commercial painting industry.

Fresh Coat Painters aims to provide that missing customer service element to home and business owners by ensuring that their painters are at the location on time, that those painters are bonded and insured and that they’ve had a thorough background check performed.

The reason the company is able to provide this kind of stellar customer service is

“We have a variety of people who are successful in our business model.”

- Tara Riley, President, Fresh Coat Painters

Franchising USA

because it uses an employer-based model rather than a subcontractor-based model, meaning all of the painters that set foot inside a client’s property are employees of Fresh Coat rather than subcontractors.

Hiring employees rather than subcontractors allows Fresh Coat more control over every aspect of the business and it means the same people stick with the company for years rather than just being hired on a per-project basis.

“It allows us to control the quality of the job,” Riley noted.

Sound Onboarding Riley said she believes the key to success for both franchisees and the company is a sound onboarding process. That process starts with a three-week training program for new franchisees the company calls “Base Coat” training.

That initial core training is done at the Cincinnati headquarters and it covers the basics of opening and running the business, how to assess potential employees and how to use the company’s proprietary quoting software, called Epic.

“If we get people off on the right foot, then they will be successful and that’s where we get our return.” - Tara Riley, President, Fresh Coat Painters “Our proprietary quoting software allows somebody who basically has no experience in the industry to have the ability to come in and provide a profitable quote that is fair to the consumer and the franchisee,” she explained.

In addition to training, franchisees are given a 90-day marketing plan to run for the three months after their initial launch.

They are also assigned an onboarding business coaching team that works with them twice a week to make sure they are doing everything correctly to get started.

“If we get people off on the right foot, then they will be successful and that’s where we get our return,” Riley said.

possible training for painters, the company has partnered with Sherwin-Williams in Ohio and Prep to Finish in Vermont, both of whom specialize in painter training.

“It’s an investment we make because we believe in the employer model and feel like if we’re going to have that model then we have to support our franchisees in having the absolutely best, top-notch painters in the country,” Riley said.

The president mentioned that she aims to continue investing in both training and proprietary software to keep Fresh Coat on the leading edge of the painting industry.

Ongoing support for franchisees includes three regional training sessions per year that provide owner and lead painter training in areas like job organization, profitability, and how to paint at the highest quality level.

Wit a robust training program in place and the guarantee of great customer service in an industry that lacks just that, Fresh Coat Painters should have little trouble reaching their dual goals of doubling the number of states they’re active in and professionalizing the residential and light commercial painting industry.

To ensure they are providing the best

www.freshcoatpainters.com

Franchising USA

focus

Page 51

BUSI N ESS SERV ICES fr anchising

William R. Seagraves, President, CatchFire Funding

Are You Overlooking the Option of

Self-Directed 401K to Finance Your Franchise?

The employment landscape has changed dramatically in recent years; the concept of a corporate job for life, with a healthy pension, is dying out.

A growing number of Americans are turning to entrepreneurship, often midway through their careers, to reach their income needs and retirement dreams.

Most of the people I talk to don’t want to go into debt to finance their entrepreneurial venture; they’re not interested in re-mortgaging the house or other personal assets. They’re often

Franchising USA

surprised, and delighted, to learn about “rolling over” their retirement dollars to invest in their new business, whether you have an IRA, 401k (the most common), SEP, SIMPLE, 403b, 457 or other eligible plan.

The government calls it ROBS - Rollover for Business Startup; the strategy is also known as a Self-Directed 401K. It’s a great way to minimize risk, by eliminating or reducing debt servicing that would negatively impact their cash flow.

The Magic of Pre-Tax Investing When you use a Self-Directed 401k to invest in your business, you are investing your pre-tax dollars. You’re not borrowing it; you’re not withdrawing it. Think of it this way: when you began contributing to the 401k you have currently, you were

likely investing in your employer’s stock, giving you company shares in return for your cash. It’s the same concept when you invest in your own small business with a Self-Directed 401k.

Your retirement plan (your self-directed 401k) invests in the stock of your small business. Your company gets the money from the sale of its stock, and then has the capital required to start—or expand—its business.

Some of the benefits of Self-Directed 401k for funding your new business include:

You Can Approve Yourself You can skip the embarrassment of groveling in front of your banker for a loan; you effectively approve the newly incorporated company of You, Inc.

“When you began contributing to the 401k you have currently, you were likely investing in your employer’s stock…It’s the same concept when you invest in your own small business with a Self-Directed 401k.”

Multi-Unit Franchising Made Possible with Self-Directed 401k Max Steiner, of Little Rock, AK, took early retirement after working three decades for a private mining company, and with his kids away at college and his wife working part-time, Steiner discovered he had lots of free time - and that didn’t suit him, personally or financially in the long-term.

But Max wasn’t looking for another fulltime job; he was looking for a business investment. And when it came to his retirement dollars, Max knew it wasn’t realistic to rely on the stock market to grow any real financial security.

No Debt, Taxes or Penalties With no interest to pay and no time schedule to repay for retirement funds, your business thrives with improved cash flow.

Minimal Paperwork Setting up a Self-Directed 401k plan requires far less paperwork than a loan application, and there is no business plan required to get your funding.

Get Funding Fast On average, it takes about three weeks for entrepreneurs to receive their money from the rollover of their current retirement plan and the purchase of their company stock.

Cover Business Expenses You can use the money for salaries, equipment, inventory purchases or any other legitimate business expenses, including a down payment for another loan.

He was attracted to franchising because he felt that the proven business plan that comes with the purchase of a franchise would require less involvement on his part. Working with a franchise consultant, Max narrowed it down to Sola Salon Studios, whose business model is to lease salon space to individual hairdressers.

Max realized he could play landlord and he’d just collect checks each month - no employees, no inventory, and no need to be there every day. Perfect for his lifestyle.

Then came the issue of upfront capital.

“The investment [in the multi-unit franchise] was considerably more than I was prepared for,” Max admitted. “I probably could’ve gotten a loan, but it’s not what I wanted at this stage of my life.

I didn’t want to get tied down to a huge commitment that way.”

When Max worked with me and the rest of the CatchFire Funding team, we suggested he take a look at rolling over his 401k. We advised Max that many entrepreneurs see substantial return on investment with the Self-Directed 401k, 25% or more - pretty

William R. Seagraves

great when compared to investing in Wall Street where you might get 6 to 8% ROI. While multi-unit franchising isn’t for everyone, it’s a great way to build a portfolio. You are effectively buying options on units two through five; costs are really only for the first unit. Once that unit is profitable, it’s easier to get bank loans for the rest of the units. Any loans will be covered by your cash flow from first two units.

Max went the route of Self-Directed 401k, and opened his first Sola Salon Studios franchise in Little Rock in February of 2014. A year later, he’s on track to open his second location of the franchise, with plans for a third.

Franchising financed with Self-Directed 401K - a great marriage for fast, effective investment!

William R. Seagraves, president, CatchFire Funding, of Parker, CO, is the author of the Penguin Random House book, Be Your Best Boss: Reinvent from Employee to Entrepreneur, released in February 2016.

Learn more at yourbestboss.com.

Franchising USA

BUSI N ESS SERV ICES fr anchising

Page 53