FranchisingFeature on th e ro a d
ju ne 2020
On the Road:
Mobile Franchising why 2020 is the year to
invest in a moble franchise how this global pandemic will
shift the future of remote work
fe at ure : o n th e road - m o b i l e Fr a nchisi ng
what’s new!
Tint World® announces partnership with top antimicrobial auto application Tint World® Automotive Styling Centers™, a premier automotive styling and window tinting franchise, has announced a partnership with BioPledge®, the EPA-registered, hospital-grade, AntiMicrobial Protection (AMP)™, offering their customers long-lasting, industry-leading protection from germs that can cause illness and odors. The partnership is part of Tint World®’s ongoing commitment to helping vehicle owners stay safe and healthy during the COVID-19 crisis. “BioPledge is an industry-leading disinfectant for treating microbes that can build up on high-touch surfaces inside vehicles, boats, homes, and offices,” said Charles J. Bonfiglio, CEO and president of Tint World®. “Our customers are looking for the additional level of security that BioPledge delivers right now, and during this challenging situation we’re doing everything we can to enhance their safety.” BioPledge® is EPA-Registered, offering Anti-Microbial Protection (AMP)™ that instantly kills viruses, bacteria, mold, mildew, algae,
and yeast – all without the use of caustic chemicals or scented masking agents. A one-time treatment of BioPledge® AMP™ forms a protective shield that delays the growth of harmful microbes on interior surfaces and prevents odors for up to 30 days after it is applied. BioPledge® AMP™ treatments also remove organic and inorganic odors from air, carpet, upholstery, and other “high-touch” surfaces. www.tintworld.com
Assisted Living Locators and Dementia Care Education Partner-up First Nationwide Senior Placement Franchisor To Achieve Dementia Care System-Certification franchisees are now dementia certified, with the majority choosing the Dementia Care Certified® designation, making it the first nationwide senior placement service to achieve system-certification.
Assisted Living Locators, a national senior placement franchisor, and Dementia Care Education, the leading Alzheimer’s/dementia education, training, and consulting organization, announced they have partnered to raise the bar and deliver best-practice service and dementia care support to families during COVID-19. All Assisted Living Locators’ 140
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“With 5.8 million people in the U.S. living with Alzheimer’s disease, a large number of our senior placements involve families having to locate assisted living or memory care for their loved ones,” said Angela Olea, Assisted Living Locators CEO RN. “The double hit of dementia and the COVID-19 pandemic has raised great concerns for people living with dementia. Having this dementia care training helps us provide much-needed support to families during COVID-19.” “We are excited to align forces with such a forward-thinking company,” said Brian
Browne, President of Dementia Care Education. “Assisted Living Locators provides exceptional service to families throughout the country. With our years of experience and track-record of expertise in education and training, we stand poised to positively impact care and quality of life for many families.” After being trained and certified, Assisted Living Locators franchisees will be required to obtain CEU’s to maintain their certification and to stay abreast of the most current information in the field. If you are noticing changes in your loved one’s cognitive health and have questions about dementia care, speak to an Assisted Living Locators Senior Care Advisor at 877-266-7788 or visit www.assistedlivinglocators.com
CURRY UP NOW LAUNCHES ON GOLDBELLY TO SHIP INNOVATIVE INDIAN EATS NATIONWIDE
Intelligent Leadership Executive Coaching® Franchise Launches Backed by the Powerful Partnership of John Mattone and Terry Powell Intelligent Leadership Executive Coaching® (ILEC) has launched an exceptional coaching franchise dedicated to growing leaders, building cultures, and driving results.
Fans of Curry Up Now’s Tikka Masala Burritos & More Can Now Order from Anywhere in the U.S. Curry Up Now, the nation’s largest and fastest growing Indian fast casual concept, has launched on Goldbelly to deliver their innovative Indian eats to hungry fans across the country. Those who know and love Curry Up Now’s signature items like Tikka Masala Burritos, as well as those looking to try Indian cuisine in new and modern formats, can now order Curry Up Now from anywhere in the nation and have it delivered straight to their doorstep. “We’re very excited to partner with Goldbelly,” says Curry Up Now’s founder and CEO, Akash Kapoor. “We get comments all the time from people who want to try our food and asking us to open locations in their area. While we’re still in the process of opening up more than 40 restaurants across the country, with Goldbelly our anxious customers don’t have to wait! Now, some of our signature and most popular items are available to anyone, anywhere, anytime.” “We have been looking for an Indian food partner who could fulfil orders on a national scale, and we found the perfect fit with Curry Up Now,” said Ken Graham, Business Development Manager for Goldbelly. “We are thrilled to have Curry Up Now as a partner on Goldbelly.” Curry Up Now currently operates 11 locations nationwide in California, Utah, New Jersey, and Georgia, with more than 40 franchised and corporate units in varying stages of development in the existing states, Colorado, and Indiana. For more information about Curry Up Now, visit www.curryupnow.com and follow @CurryUpNow on social media.
The ILEC unique coaching methodology provides franchisees with a proven system to empower leaders and future leaders to unlock and unleash their potential. ILEC clients will benefit from a high ROI designed to drive real results. Upon completion of the ILEC training, franchisees will be prepared and confident to deliver the proprietary ILEC coaching experience. The ILEC coaching experience is certified by the International Coach Federation (ICF). ILEC is powered by the partnership of John Mattone, the world’s top executive leadership coach, and Terry Powell, visionary founder of The Entrepreneur’s Source®, the world’s largest and #1 Career Transition Coaching organization. “There is a growing need for this type of executive leadership coaching,” said Powell. “As companies rid their rosters of senior managers in high-paying positions, they’re replaced by younger faces who may have the skills to do the job, but lack knowledge on how to inspire and motivate the team they suddenly have looking to them for leadership.” Mattone, who has personally coached hundreds of CEO’s and thousands of leaders, including the late Steve Jobs, adds, “We are in a unique position to help new leadership flourish as well as harness the knowledge and experience of those looking for a career change by giving them this executive leadership coaching franchise opportunity.” ILEC is a low investment franchise with a high ROI backed by recognized brand leaders and offers unparalleled training and support. For more information about Intelligent Leadership Executive Coaching (ILEC) franchise opportunities, contact Michelle Sudovich at msudovich@franchisesource.com.
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what’s new!
Koala Insulation Sets Aside $148,500 to Help America’s Entrepreneurs
The numbers are devastating: a staggering 30 million American workers have filed for unemployment since the onset of the novel coronavirus pandemic. As that number grows every day, Koala Insulation is doing its part to help entrepreneurs seeking career independence get back on their feet. The emerging franchise brand is offering an extraordinary initial franchise fee giveaway of three franchise territories ($148,500 combined value) to qualified entrepreneurs who have been impacted by the devastating economic fallout following the COVID-19 crisis. “As Americans continue to lose jobs and face economic hardships like never before, we knew we had to jump in and help, however we can,” said Scott Marr, founder and CEO of Koala Insulation. “Our brand is built on supporting customers and our franchisees, so this program came naturally out of that commitment.”
meet all of Koala Insulation’s standard franchisee qualifications, which includes a financial requirement of $50,000 in liquidity (cash, marketable securities, etc.) and $150,000 in total net worth. Prospects will be required to purchase the equipment package and obtain financing as needed.
Starting May 12 and through June 30, Koala Insulation is inviting prospective franchisees to complete a franchise application and submit an essay to apply for the program.
After a review of all prospective franchisee applications and essays, Koala Insulation will announce the potential winners on National Give Something Away Day (Wednesday, July 15).
Koala Insulation is prioritizing the program in select markets across the country. A panel of judges from Koala Insulation will select three qualified entrepreneurs based on their contest applications, which includes the essay. Winning contestants must
To apply for the program, those interested should visit https://koalainsulation.com/franchise/coronavirus/ for more information on how to submit. For more information on franchise opportunities, visit koalainsulation.com/franchise
Chem-Dry Announces Sanitizing Service for Homes & Businesses Chem-Dry, the world’s leading carpet and upholstery cleaning service with a network serving over 11,000 homes and businesses a day across 55 countries, announced the rollout of a specialized Sanitizing Service that targets areas of homes and workplaces most prone to viruses, bacteria and germs. As the Healthy Home Authority®, Chem-Dry has been making homes and workplaces cleaner, healthier and safer for more than 25 years by combining its proprietary Hot Carbonating Extraction process with an EPA-registered, hospitalgrade sanitizer for use on surfaces such as carpets, upholstery, rugs, tile/stone and wood floors, and granite countertops.
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The new Sanitizing Service for homes and workspaces will focus on applying a professional sanitizer to surfaces most vulnerable to the transmission of viruses, bacteria and germs. “Coming through the COVID-19 pandemic, the way people think about the health and safety of their indoor environments will never be the same,” said Ed Quinlan, President of Chem-Dry, part of the BELFOR Franchise Group family of brands. “Chem-Dry has a long-standing reputation for creating cleaner, healthier spaces through our proprietary cleaning and sanitizing services..”
guidelines and recommendations for home cleaning. Based on lab testing, its sanitizer eliminates 99.9% of bacteria and viruses from hard non-porous surfaces like tile, stone, wood, laminates and vinyl and is approved by the EPA for use against SARS-CoV-2, the cause of COVID-19.
The Chem-Dry protocols follow CDC
www.chemdry.com
Scoop Soldiers Offering Franchise Opportunities, Plans to be No. 1 in the business of No. 2 Scoop Soldiers, the premier residential pet waste removal company throughout the south, has opened franchise opportunities that will expand the brand to new markets, while creating unique business opportunities for prospective owners. Taking the stink out of pet ownership, Scoop Soldiers makes it easy for dog parents to keep their yard poop-free by outsourcing this smelly task to trained professionals who quickly clean up their yard and responsibly dispose of the waste. Dallas native Josh Cahill has spent 10 years growing Scoop Soldiers to encompass 14 territories including Atlanta, Austin, Dallas, Denver, Houston, Orlando, Phoenix, Tulsa, Tampa, and more. The brand aims to continue this growth by establishing
franchises throughout their home state of Texas, with plans to expand nationally over the next year. John Cahill was recently named President of the franchise brand, bringing 30 years of leadership experience including the launch of a franchising program on behalf of la Madeleine French Country Café. “Our rollout will be highly controlled, choosing partners who share our vision of building meaningful relationships with clients and becoming difference-makers in their communities by helping them stay clean and safe,” said John Cahill. Potential franchisees in the state will have the unique advantage of taking over territories with established customer bases, employees, and revenue streams. Partners
will have access to a turn-key model that includes a training program, branded trucks, local marketing support, and more. For more information about why Scoop Soldiers franchise opportunities are something worth barking about, visit scoopsoldiers.com or call 877-930-7668.
Conserva Irrigation Debuts In Utah And Expands Across Colorado And Texas Conserva Irrigation, the only national outdoor irrigation company founded on the concept of water conservation, announced the addition of seven new territories in May. Despite economic uncertainty caused by COVID-19, Conserva Irrigation continues to grow and will now welcome four new franchisees to the system, expanding across Texas and Colorado, as well as debuting in Utah. Partnering with franchisees possessing corporate and maintenance experience, the smart irrigation leader is slated to expand throughout the following territories: Fort Collins, CO and Southeast Denver, CO; Southern Salt Lake City, UT; North Frisco, TX With the addition of seven territories in three states, Conserva Irrigation has now grown its footprint across 90+ territories in markets throughout the country. As a result of a strong company culture and recession-resistant franchise model, the brand’s sales were up 65% YOY in Q1 and Conserva Irrigation has surpassed revenue goals for the year by 20% YOY. Conserva Irrigation is looking to expand further throughout the
United States and is seeking single- and multi-unit operators with a range of experience levels, as well as those looking for add-on or conversion business opportunities. For more information about franchise opportunities with Conserva Irrigation, visit ConservaIrrigation.com IrrigationFranchise.com or OutdoorLivingBrands.com
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On the Road:
Mobile Franchis All good businesses know the importance of choosing a great location to operate from. You want to be close to your customers and maximise your exposure at the lowest cost. But one sector of franchisees doesn’t need to worry about location. So what exactly is a mobile franchise?
Taking it to the people An ever-changing view, mobile franchising means not sitting in the same office every day. You take your product or service directly to your customers and you both win. Service their car at their workplace, so they don’t have to waste the weekend. Bring fabric samples to their house so they can find precisely the right shade against the whole room. Diagnose technical issues quicker in its usual place, so you have all the relevant information—wash
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dogs in familiar surroundings to reduce
anxiety. People recognise the benefits of an excellent work-life balance and need
services that can fit in with their varying
schedules. A mobile business gives you the flexibility to meet your customers when and where they need you.
And the benefits continue. From as little as $10,000, mobile franchises are a low-cost entry so that you can be on the road earning money sooner. With no
business property to maintain, there are lower overheads and no landlord or centre management relationships to manage. This means they are a more straightforward business to run, and so often, no extra employees are required. And while all franchise businesses allow you to take control of your lifestyle, mobile businesses have an extra level of freedom in that a store doesn’t need to close down or replace you if you have other commitments in business hours. Your business hours are
sing whatever works best for you and your product or service.
Support Mobile franchises come with the same
support a bricks and mortar style franchise does. The source organisation can help
you with all aspects of the business from practical things such as supplier lists, to
industry-specific training such as how to
“People recognise the benefits of an excellent work-life balance and need services that can fit in with their varying schedules. A mobile business gives you the flexibility to meet your customers when and where they need you.”
create the most profitable and efficient coffee run. Usually, a franchisor will also provide business and administration support such as branding, stationery and social media and/or web presence. This means you can focus on the work you love knowing the experts have covered these other essential aspects in those areas. Many franchisors will also offer to mentor and run conferences where your fellow franchisees can inspire you. Running your own business doesn’t mean you have to go it alone.
Growth Mobile franchising is a fast-evolving sector. There is potential for a mobile franchise for any interest under the sun. Pets, property and coffee are amongst the most popular as are office supplies and services. Some existing franchises are even adding a mobile arm to their current businesses.
Before you jump in When considering a mobile business, it’s essential to do your research and understand the factors unique to mobile franchises. Be sure to carefully consider whether your desired business is a good fit for you. Like any business, your mobile business will flourish when it ticks three necessary boxes for the customer: quality, service and price. Without a shop for potential customers to wander in to, the quality of your work will be the main
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drawcard. You may decide that some extra training or experience would help before you branch out on your own. Do you have the personality to build and foster customer relationships? Depending on the type of work you do, repeat business could be your primary income, and customers return to where they feel valued. Identify any other challenges you might face and what you could do to overcome them.
Due Diligence Franchisors are required to provide you with several documents and details related to the franchise, and it is your responsibility to ensure you have fully understood them. Examine the franchise’s financial health and see if it lines up with your expectations. Contact previous and current franchisees about the business, the franchisor and any issues they encountered. Double-check your assumptions will pan out as you expected. Consider specialist business and legal advice. Do your homework thoroughly and keep records in case there are issues down the track. You don’t want to find out you have to generate all your own leads after you’ve laid down your hard-earned cash. A fully informed decision is likely to be far more successful and rewarding in the long run.
“Some franchises organise their franchisees into areas or zones to ensure equality in their customer base. Make sure you are clear about where you can and cannot work/service.”
Territories Some franchises organise their franchisees into areas or zones to ensure equality in their customer base. Make sure you are clear about where you can and cannot work/service. Your Franchise Agreement will explain whether you have an exclusive territory or not, where you are permitted to market your business and any other exclusions and rights you have. Be sure to understand everything in this document before you sign up.
Research Owning your own business doesn’t necessarily mean every dollar you earn is yours. Find out what fees and other costs are involved in the franchise you are considering and don’t forget running and maintaining your vehicle. Some are initial payments, and some will be ongoing. If you’ve worked for a salary,
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your tax requirements could be quite straightforward. Taking on your own business means knowing what your reporting obligations are—Check-in with your trusted accountant about franchisespecific requirements. There are also potentially very different insurance needs. You want adequate coverage if you are working on private dwellings or at the very least, income insurance if the business would not be able to run if you were sick or injured.
Go for it If you value your freedom, have a marketable skill and are driven to succeed, then a mobile franchise may be just the ticket.
Look out for our next special feature: food & franchising
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Expert Advice: Scott Marr | Founder and CEO | Koala Insulation
Why 2020 is the year to invest in a mobile franchise Let’s face it: 2020 is not going exactly as we all planned it. What was supposed to be a fresh start to a new decade was completely turned on its head with the coronavirus pandemic. It’s taken significant effort for all of us to acclimate, but not all is lost: amid the pandemic lies unexpected opportunities.
For many of us, the past few months have been a time of reflection and taking note of what’s important in life. One of those important things, especially for folks whose livelihoods have been impacted, is the opportunity to take control of one’s career. There are many franchises that will come out of the pandemic stronger than before. One segment that’s slated for growth and presents a very strong investment opportunity in a post-COVID-19 world mobile franchising, or franchise concepts that can be run out of a home or vehicle. So, why is mobile franchising particularly appealing to today’s entrepreneurs?
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Mobile franchising is more likely to be recessionresistant Mobile franchising presents a great opportunity as it requires much lower overhead as compared to franchises with a storefront space. With less space needed and fewer operations, franchisees save money. And, you won’t have to pay rent for a location that is temporarily closed amid stay-at-home orders. A sad reality right now is that tens of millions of Americans have lost jobs. Investing in a franchise concept allows you to take control of your future. This can be your chance to set the tone of your career,
work for yourself and establish a legacy for your family – investing in a mobile franchise can give you these benefits for less of the cost. Those who may have fallen on hard times during the pandemic may also be thinking of how quickly they can get on their feet to support themselves and their families. Another great advantage of mobile franchising is that in most cases, it allows for a quicker ramp up time than a franchise with a retail footprint as there is not a need to hire (and pay!) several employees to run the location on a daily basis. Additionally, as you do not need to select a site and negotiate a lease, ramp-up time for a
“One segment that’s slated for growth and presents a very strong investment opportunity in a post-COVID-19 world - mobile franchising, or franchise concepts that can be run out of a home or vehicle.”
mobile franchise concept is significantly faster than brick-and-mortar. Plus, right now, the general population is not too willing to leave their homes – and we do not know how long this trend will last. Mobile franchising allows you to go to them. In many cases, mobile franchises allow for you to have minimal contact with customers. For example, at Koala Insulation we are able to go into our customers’ homes and often don’t have to even see the customers face-to-face with the digital and technology capabilities our franchisees have at their disposal.
2
Mobile franchising allows for flexibility
Mobile franchising offers much more flexibility and work-life balance than the standard brick-and-mortar franchise. Many people choose a mobile franchise because of the flexibility to manage a team from their home which allows more time to be with their family. During COVID-19, parents had to uproot their lives and change their schedules to educate and care for their kids 24/7. In fact, 42 percent of parents are worried that COVID-19 will affect their child’s education, according to Gallup. For a 9-5, full-time job, changing schedules to be with your children can be extremely challenging. Running a mobile franchise allows you much more flexibility, as you make your own schedule in many cases and can manage and operate your business from home as long as you have the right team members in place.
“Mobile franchising presents a great opportunity as it requires much lower overhead as compared to franchises with a storefront space.”
Scott Marr
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Mobile franchising lends itself to more local brand exposure Since you are operating out of your home or vehicle, there is more of an opportunity to gain exposure through your mobile franchise. While traveling to jobs, you (or your team members) have the opportunity to get many eyes on your brand through a branded truck or vehicle. Additionally, since you aren’t paying an expensive lease every month, you may find yourself with more marketing dollars to spend locally and in creative ways, gaining even more exposure for your business. As the days go on, we’ve started to not only survive in our “new normal”, but actually adapt to it; many of us have found ways to make the most of the situation we are in. For Americans considering ways to take control of their career and future – especially when so many aspects in our lives are out of our control right now – mobile franchising presents an attractive option. Recession-resistant franchise concepts that offer flexibility and make financial sense will thrive post COVID-19. It’s certainly worth exploring! Scott Marr is the founder and CEO of Koala Insulation, an emerging insulation franchise serving residential and commercial customers. koalainsulation.com
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Expert Advice: Jed Ayres | Global CEO | IGEL
How this Global Pandem
Shift the Future of Re The concept of remote working started to gain notoriety within the last six years, as corporations such as Hilton, WilliamsSonoma, and American Express, have invested in this new approach to work. COVID-19 has accelerated this new model by revolutionizing the modern business
world, forcing companies globally to adapt to this new wave in employment. Current trends have proven the shift from a traditional workspace to a home office garners increased productivity in workers, higher employee performance rates, and stronger business engagement. Now that more and more professionals are partaking in a work-from-home model, many are wondering if the current health crisis has brought upon a new change in the business world. Jack Dorsey, co-founder and CEO of Twitter, has publicly notified staff of his decision to allow them to work from home permanently; that is if the employee chooses to do so. This will only be the
beginning of corporations announcing plans to shift their workers into a remote setting. Will the future of work become even more remote? For most, it already has.
The fidelity of the experience Though the advantages of remote working certainly seem to outweigh the negative, there will still be a period of adjustment in terms of roles and responsibilities. The fixation on where the work is done will become obsolete, with managers focusing more on the quality of their employees’ contributions. Managers will start to
“The idea of work is transforming from a traditional 9-5 office space, to a flexible and freeing mindset that proves once and for all – work isn’t a destination, but a way of life.”
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mic Will
emote Work measure their teams’ value, providing a meritocracy to invest in workers based on their talents, efforts, and achievements. Trust is another important component of the boss vs. employee dynamic, as leaders today will need to instill a higher level of confidence in their department, relying more so on the outputs of their team, rather than their presence in an office. These enhanced relationships will greatly impact personnel and their ability to not only adapt, but to learn more efficiently. Remote training will become more readily available, providing guidance in time management, assisting with adjustment to modern technology, and boosting communication skills amongst the entire team. This is a profound advantage for both the remote worker, as well as the organization. Remote working and training won’t be the only change in the modern world, as hiring remote workers will become increasingly popular, focusing on workers’ output rather than their zip code. Individuals from all over the world will have ample opportunity to land their dream job without the challenges of re-locating or long commutes. In turn, this will benefit companies as it broadens the pool of talent, with fewer restrictions on location, and more focus on the candidate.
Disruption equals opportunity There are endless detriments to a statewide stay at home order. The restrictions on seeing loved ones, traveling, and even modest outings such as catching a movie are the grim realities of a global pandemic. While it’s easy to focus on the hardships, history has proved time and again that the darkest periods often bring about the most innovation. Wars have contributed to advancements in modern medicine,
and plagues have resulted in some of the most timeless works of art and literature. COVID-19 will surely be no different. The rise of starting a home business or franchise will surely flourish as individuals will hone in on their hobbies and passions and look towards creating a business from their joys. Entrepreneurs, notoriously resilient in nature, will ultimately prosper through times like these, taking creative control on new ideas, start-ups, and crafts.
The impact of customer relations Zoom and other video conferencing platforms have changed the core of business communications for good. Sales reps and professional home services have dramatically changed the ways in which they connect with customers, offering digital tutorials, servicing, and follow up opportunities. Businesses that once relied on travel for client relations can now double or triple their networking efforts by utilizing technological services such as Zoom, or traditional phone conversations. This has proved to not only save a tremendous amount of money in travel fees but has opened a time portal, allowing for more opportunities in one day to connect and build relationships than in the past. Omitting the need to see a client face-to-face has still produced budding professional rapport without the expenses and time restraints.
Technology will only enhance from here With social distancing put in place, companies that offer home servicing to set up routers, cable and internet, and more, will shift focus on how they build their equipment. The future of TV streaming and Wifi will rely on technology that is simple and secure yet provide high
Jed Ayres
“Individuals from all over the world will have ample opportunity to land their dream job without the challenges of re-locating or long commutes. In turn, this will benefit companies as it broadens the pool of talent, with fewer restrictions on location, and more focus on the candidate.” performance. Other avenues to consider are industries that rely on high-tech servers, privacy and security, and artificial intelligence. With the many expected changes set to revolutionize the modern workplace, a post-COVID-19 world, though uncertain, provides a wide array of opportunities, room for growth, and excitement for the future. The idea of work is transforming from a traditional 9-5 office space, to a flexible and freeing mindset that proves once and for all – work isn’t a destination, but a way of life. As Global CEO, Jed Ayres leads IGEL’s seasoned team of executive leaders as the company works to align with the world’s most prominent cloud providers to transform end user computing by simplifying and securing the clouddelivery of all needed applications and resources. Ayres brings more than 20 years of technology experience to IGEL and has a wide range of industry experience across workspace management, virtualization and mobility.
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Expert Advice: Jeff Brazier | VP of Franchise Development | Kiddie Academy Educational Child Care
Why Now is
a Good Time to Invest in a Franchise
â&#x20AC;&#x153;COVID-19 has abruptly impacted businesses on a large scale and small business owners are forced to adjust as best they can. This is when having the large support system that a franchise concept offers is most valuable.â&#x20AC;?
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The old adage in franchising is: “You are in business for yourself, but not by yourself.” This has never been a more important variable in the world of business than it is today. COVID-19 has abruptly impacted businesses on a large scale and small business owners are forced to adjust as best they can. This is when having the large support system that a franchise concept offers is most valuable. From lender relationships and navigation of the Payment Protection Program, to operational and marketing support that can help pivot your business in a time of change, the franchise comradery is crucial to the future viability of a franchisee’s business or businesses. Fortunately, and unlike most new business landscapes, this support comes with the territory. Along with this wide system of support, there are several other timely advantages that have recently come into play for investing in a franchise during the world’s current state. Here are just a few of these advantages:
Down Time With more time on everyone’s hands to conduct research, more folks have the ability to become an expert on franchising and dig into a potential franchise business opportunity. If utilized to their advantage, this time frame will allow a prospective franchisee to learn more about the business of franchising and how it is engaging customers. It is also a good time to connect with other franchisees virtually to learn how their franchisors might be helping them in this time of need. This will give a prospective franchisee a good understanding of how they may be treated when faced with, and how to navigate, any unforeseen challenges that come during their time as a business owner.
“With more time on everyone’s hands to conduct research, more folks have the ability to become an expert on franchising and dig into a potential franchise business opportunity.”
Great Rates For those with good credit, strong resources and a solid franchise concept, today offers a chance to obtain some very favorable rates. The banking industry has been impacted by the workload from the Payment Protection Program but once the dust settles, they will be looking for opportunities to lend to new franchisees with rates many have never before seen. That could be you!
Real Estate One of the biggest elements to start considering is the real estate market. Location has always been an important factor in the success of a business and now there could be many more opportunities to take advantage of in terms of real estate. Costs have risen over the last few years, but now may start to decrease in price and increase in advantage when you are signing a long-term lease or acquiring a piece of land or property.
Struggling Job Market These days, everyone knows at least one person who has recently been furloughed or lost their job. That said, the ability to create new jobs is one that is not to be ignored. Capitalizing on the recent shift in business and economy in the way of franchising could eventually give others the opportunity for employment. If you have the means to simultaneously benefit yourself and others, wouldn’t now be the best time to do so? After reading thus far, you may feel like your decision should have been made yesterday. While you consider tapping into the benefits the current economic state offers and beginning the process of investing in a franchise, the important thing to keep in mind is that time is still on your side in the long run. For most franchise concepts, you will not be opening your doors the day after you sign your
Jeff Brazier
franchise agreement. Rather, you will begin the development cycle, which will take several months to a year (and beyond, in some cases). This time period will allow you to get through the current climate at a steady pace, learn how the world of business will pivot and grow by the time your doors are open and get prepared for your future as a successful business owner. In this time where having control over your future, or even your present, seems like a distant reality, acquiring your very own business will grant you a sense of ownership that goes beyond the current state of things. That is something you simply cannot put a price tag on. Jeff Brazier joined the Kiddie Academy franchise development team in 2016. In his role as Chief Development Officer, he works closely with franchise candidates to guide them through our franchise discovery process. Jeff has over 16 years of business development experience. Brazier began his career in the sports industry, with an emphasis on baseball, where he transitioned into business development. Jeff holds a BS from Towson University and MS from California University of PA. franchising.kiddieacademy.com
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