Veterans in Franchising September 2018 by CGB Publishing

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Veterans in Franchising september 2018

www.franchisingusamagazine.com

Strategic Franchising:

Life After Active Duty Why Service-Based Franchises Are a Great Fit

q&a with paul bosley

What are my Financing Options?

special feature

american franchising supporting american veterans Franchising USA

SAME DRIVE. DIFFERENT BATTLEFIELD. TAKE THE NEXT STEP > VETFRAN.COM OFFERING FINANCIAL SUPPORT, TRAINING & MENTORSHIP Veterans interested in franchising can take their skills learned in the military to successfully own and develop small businesses. Learn more and support veterans in franchising at www.vetfran.com.

• 650 franchise companies participating • 151,000 veterans and their spouses found careers in the franchise industry • 5,100 veteran franchise owners

Veterans in Franchising Supplement september 2018 Our Veterans in Franchising special supplement has become a regular feature of Franchising USA. To share your story in the next issue, please contact Vikki Bradbury, Publisher Phone: 778 426 2446 Email: vikki@cgbpublishing.com

Contents On the Cover

Veterans Q & A

46 Strategic Franchising - Life After Active Duty: Why Service-Based Franchises are a Great Fit

Paul Bosley, Managing Member, Business Finance Depot

50 Special Feature: American Franchising Supporting American Veterans 56 Q & A with Paul Bosley: What Are My Financing Options?

56 What Are My Financing Options?

Veteran Profile 54 Captain Eric Friedrich II, Owner, FirstLight Home Care of Southeast Georgia

Veterans Feature 50 American Franchising Supporting American Veterans

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V e t er ans in Fr anchising

cover story: Strategic Franchising

Veterans Have Proven Success in Service-Based Franchising

If you ask Steve Kwon, (who has worked in franchising for over 20 years and is the Sr. VP of Franchising with Strategic Franchising), who he looks for in an ideal franchisee, military veterans are the first to come to mind.

In fact, Strategic Franchising has had the honor of working with U.S. Veterans since its inception in 1994, nearly 25 years ago within all 5 of the franchising brands. Although Strategic Franchising is headquartered in Cincinnati, the 5 brands are located all throughout the United States.

business owners have sales of $100,000 or more a year, and roughly 40% of veteran-owned businesses have sales of $500,000 (https://www.entrepreneur.com/ article/229886).

“Veterans have the skills and mindset after returning from service that have proven to be transferrable to franchising, especially in service-based industries like ours,” says Kwon, “it’s a big reason why our brands attract veterans.”

“The ideal franchisee is someone who is dedicated and passionate, but is also disciplined enough to follow the framework provided that is proven for success.”

The statistics support Kwon’s comments. Military veterans are more likely to be self-employed than non-veterans and they aim to be the “best” in their industry. Almost 80% of veteran-owned small

Veteran success as franchisees can be attributed to many things, but it is easy to see how their passion for helping others makes them successful in service industries specifically. Veterans are taught values and want to hold true to these values throughout their civilian career.

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Veterans Continue their Dedication to Serving Others

Serving your country is different than serving the community, but there are still similarities. Many veterans are drawn to the service industry to assist and be a part

Discipline & Commitment R

of their community. For example, they

are able to continue to serve by helping

specific groups in their community, such as the senior population. Caring Transitions of San Antonio North franchise owner

From day one, military personnel are taught discipline. When owning a franchise, military veterans launch their business, disciplined to follow a proven business model. By following a “tested and approved” framework, a veteran is able to successfully own and grow a business the way they so desire. Adam Intihar, owner of Pet Wants Nashville South, formerly a U.S. Army Medic, shares, “I was trained to have, honor, respect, integrity and compassion for both people and animals. I also learned how to lead and how to follow. As a business owner, I need to be a leader in many situations and environments. My motto in life is ‘Improvise. Adapt. Overcome.’ Also, before buying a Pet Wants franchise I was a customer of Pet Wants, and I went to college for medicine, so I understand the immense benefits of holistic pet food.” Intihar was able to turn

his passion for medicine, discipline and commitment from the army into a career as an owner of Pet Wants. He has been in business for over a year and started to build a very successful portfolio of repeat clients that have made the switch to Pet Wants’ nutrition-rich pet food.

Leadership Leading in the military means gaining experiences in guiding and mentoring trainees. Strong leaders coach new recruits to become future leaders. With the Growth Coach franchise, as a professional business coach, our owners continue to develop leaders and help them through professional growth. Tony Colombo, owner of The Growth Coach of Middle Tennessee, is a former Special Operations Engineer Sergeant of the U.S. Army Special Forces. During his military and professional career he gained “experience in advising others formally and informally. The Growth Coach model,

Scott Bleichwhel, former Army Public

Affairs Director says, “I wanted to become part of an organization that is trustworthy,

has values associated with it, and is helpful to others so that I can continue to serve to the best of my ability in my community.” Scott was able to take those core values

and utilize them in his business ownership. Scott’s team at Caring Transitions of

San Antonio North has been recognized twice now as a National top 10 Caring

Transitions Franchise Owner out of over 230 Caring Transitions locations.

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cover story: Strategic Franchising company. Tim feels in charge of his own destiny and feels as if he has more job security owning a franchise than he did while employed in corporate America.

structure, materials and their support staff, along with my experience leading others have allowed me to be a successful Growth Coach business owner.” Being a “coach” in the military provides great skills that can be transferred into helping grow others in their businesses.

Valuing Freedom Freedom is at the core of any veterans’ values. In many ways, this translates to personal freedom when returning to civilian life. All franchises offer the ability to be your own boss, but servicebased franchises like those at Strategic Franchising reduce the barrier for entry with lower upfront costs, and an easier path to translate existing skillsets. With lower upfront costs, our owners are able to take control and live their life on their terms. Tim Diemont, owner of TruBlue Total House Care of Yorktown, former Vietnam Era Veteran says investing in a TruBlue franchise was “the best

decision I’ve ever made. The business is so positive. We help seniors, veterans, schools, army bases, business professions, which makes it not only rewarding for us, but it allows to have a lifestyle where we can take a trip to Europe every year and take as much time off as we want.” Don’t let your job take away your freedoms. Tim was drained from working in retail corporate America after his military service and decided to take charge of his life and become an entrepreneur. He wanted a career where he could utilize his knowledge and experience from the retail industry and the military, while becoming more involved within the community. TruBlue Total House Care provided him with an opportunity that met his goals along with being able to continue to work with both active duty military and veterans. Tim loves working with TruBlue because he has complete control over how the company is managed and the size of the franchise. Franchise owners decide how big or small they wish to scale their

What makes or breaks a job is the people you work with. Locating the best franchise is about finding the right business culture for you. For example, it’s more than just painting with a Fresh Coat franchise, it’s about managing great teams and programs and helping the community. Rich Whitaker, owner of Fresh Coat Painters of Clarksville states that “Fresh Coat offers veterans an opportunity to reach their full potential after military service. The low start-up cost and return on investment are what attracted me to Fresh Coat and the proven systems and operations support provided a structure that facilitated a rapid launch.” Rich and his wife Cheryl, were recently recognized with a Guildmaster Service Award from GuildQuality for demonstrating exceptional customer service within the residential construction industry.

Room to Grow For decades veterans have proven themselves in the service-based industry, and that trend doesn’t look to be slowing down anytime soon. Strategic Franchising is constantly launching new veteran franchisees in markets all over the U.S. Since 2011, about 5,600 U.S. military veterans have become franchise owners (https://www.cnbc.com/2015/05/08/ american-veterans-are-cleaning-up-inthe-franchise-market.html) and they continue to succeed. “We are eager to continue working with potential new franchisees who are transitioning out of or have recently left the military,” says Steve Kwon, “we always look forward to hearing the stories and visions of veterans looking for a way to forge their own path in civilian life. We love turning those ambitions into a reality.” Dedication to service, discipline, leadership, and an entrepreneurial spirit are why military veterans are some of Strategic Franchising’s most successful franchisees. We have the framework; now we need your vision. Service based business are a good fit for veterans. www.Franchisingforveterans.com

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The public and policymakers need to understand franchising. Our purpose

@OurFranchise is an industry-wide campaign created to spread the word about the value of franchising and share the stories of men and women just like you, who are leading the way as franchisors, franchisees, and franchise employees. The franchise business model has been proven time and time again to work, but it’s threatened when the public and politicians don’t understand how it operates to beneﬁt local, independent franchise establishment owners and their communities. Putting a spotlight on real leaders succeeding with the franchise model is how we’ll ensure franchising is stronger than ever before.

Share the tools and resources offered on AtOurFranchise.org/resources

Help us keep the momentum going

Since our launch in June 2016, we’ve reached 1.7 million people through outreach efforts, including events in key cities and states, where we spoke directly with business owners, employees, policymakers, and the media. Additionally, we’ve reached people across America through our website and social media channels, digital advertisements, and the promotion of We the Franchisees on Politico – but there is much more work to do. As a franchisor, franchisee, or franchise vendor, you are a leader in your community – and we need your support, now more than ever.

You beneﬁt by joining

By joining @OurFranchise, you’ll get access to exclusive stories and resources that can help grow your franchise business, educate employees at all levels about the franchise business model, and share the economic importance of franchising with consumers. You will also have the opportunity to share your franchise success story with your peers.

Our Franchise

@OurFranchise

This is just the beginning

Make sure you stay up to date with the campaign’s latest efforts through email updates and social media. Visit our website to read and share the latest stories of franchisors and franchisees making an impact in their communities. Become a franchise advocate to help ensure Americans, now and in the future, have the opportunity to start franchise businesses. Take the lead today!

Visit AtOurFranchise.org Contact Erica Farage, Senior Director of Political Affairs and Grassroots Advocacy and Multi-Unit Franchisee Engagement International Franchise Association efarage@franchise.org (202) 662-0760

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FEATURE

American Franchising Supporting American Veterans U.S. service members are often among the most skilled and capable leaders in America. Transitioning service men and woman have a wealth of training, expertise and experience to draw on when entering into a post-military career, and many industry leaders in franchising recognise this. Veterans with entrepreneurial aspirations and drive are the perfect fit to become a franchise owner, and organisations like VetFran and leading franchise businesses

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are creating fantastic opportunities for U.S. Veterans to enter into a franchise system.

and processes of a successful franchise network, making Veterans and franchising a match made in heaven!

Owning a successful business is a goal for many U.S. Veterans, and the skills and training that transitioning service members can offer a franchise system are invaluable. Many Veterans recognise that they have valuable, transferrable skills that were developed during their time serving their country, so business ownership is a logical next-step. The leadership skills and ability to show initiative that is gained during military service perfectly complements the existing structure

The great thing about owning a franchise is the increased support, access to tried and tested products and the ability to rely on the franchisor for much of the marketing, branding and process implementation within the network. As a franchisee, you donâ&#x20AC;&#x2122;t need to worry about testing new products or creating brand awareness, because all that hard work is done for you by experienced experts at the franchisor level. When a potential business owner or entrepreneur goes into

“This is our way to honor the brave men and women who have served our country over the years by providing a viable option for their post-military careers,” says Don Fertman, Chief Development Officer for the SUBWAY® restaurant chain. “Veterans have put themselves in harm’s way while defending our nation. We cannot thank them enough. This small gesture will make it easier for veterans to adjust to civilian life or help them follow their dream of owning and operating their own business.” Subway believes that their Veterans program assists a group of people who have proven to have a strong work ethic, developed leadership skills and the dedication to get the job done.

sweetFrog sweetFrog Frozen Yoghurt was ranked as one of the top U.S. franchises for Veterans by Entrepreneur Magazine in 2017 after an analysis of how well Veteran-owned franchises are supported, the number of Veteran-owned franchises and the effectiveness of their Veteran incentive programs. sweetFrog offers programs and incentives to assist Veterans to become franchise owners, including 25 per cent off the franchise fee, and 50 per cent off in May and November. This means Veterans pay substantially less than their civilian counterparts when entering the sweetFrogs franchise system. business alone, there is no structure or support in place – you’re really going it alone. Many Veterans are experienced in working within existing frameworks and structures, so working as a franchisee has some similarities. You have the freedom of generating your own income and owning your own business, with the added support and hard work from the franchisor. Somewhat like receiving an Operations Order (OPORD), as a franchisee you have the tools and plans in front of you to hit the ground running and create a successful business for you and your family. Several industry leading franchise businesses offer great benefits to Veterans wanting to own a franchise, having witnessed the numerous increased skills

and training that many Veterans possess. Having capable leaders working within a franchise network is a great benefit for a franchisor, making entering the franchising industry mutually beneficial for Veterans and franchisors.

SUBWAY Since 2010, Subway has offered a program for military Veterans designed to substantially reduce the costs usually associated with purchasing a new Subway franchise. Usually a franchisee fee is charged when purchasing into the franchise network, but Subway has waved the fee for any honorably discharged Veterans hoping to own their own Subway as a franchisee.

“We’re thankful and grateful for the men and women who made the brave decision to wear the uniform of the armed forces to serve and protect this great country of ours,” says Patrick Galleher, sweetFrog’s CEO. “sweetFrog has the utmost respect for our nation’s active duty and veterans. We recognize our token of appreciation can in no way repay them for their daily sacrifice. We at sweetFrog are committed to honoring our veterans through service and programs designed to help veterans make a smooth transition into a postmilitary career with us as successful business owners.” sweetFrog also runs a Military Appreciation Month discount, with active duty and retired military service members receiving a 20 per cent discount every Monday in May.

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FEATURE

“When we talk about Scout’s Honor, we’re not kidding,” explains the Pool Scouts team. “We want to be sure that you and Pool Scouts are the right fit, and our mutual evaluation process is how we learn more about each other. Honest dialog gives you a chance to ask questions and experience the level of professional commitment we offer.” Pool Scouts’ commitment to recruiting and developing the best franchisees is further complemented by their work with VetFran, having recognised the many valuable skills and experience that Veterans possess.

JDog Junk JDog Junk Removals & Hauling pride themselves on being American owned and Veteran operated. The team at JDog Junk have created a community of Veterans working to continue serving their community. With the success and wellbeing of Veterans constantly at the forefront of JDog Junk’s operations, JDog Junk helps transitioning service members achieve their goal of owning a business and remain active in the community. “When you become a JDog franchise owner, you become part of an extended military family.” The JDog team explain. “We empower you with the ability to become an entrepreneur and extend your desire to serve with a proven business model and the support you need to be successful,”

“JDog Junk Removal was created by a Veteran for Veterans and military family members. This gives our Veteran owners an opportunity to collectively play a role in reducing Veteran unemployment to under 1 per cent.”

“We are a VetFran member and we are proud to have Veterans on our leadership team,” says Michael Wagner, President of Pool Scouts says. “We are very interested in Veterans and offer discounts. It is something we are passionate about.”

JDog Junk allows Veterans to work within a team of like-minded individuals and offers programs and support to ensure the continued success of all their Veteran franchisees.

Pool Scouts Pool Scouts is another successful franchise that is part of the VetFran program, dedicated to offering incentives and programs for honorably discharged service members. Pool Scouts ensure that their franchisees are the right fit and continue to work to support U.S. Veterans via their partnership with VetFran.

Strategic Franchising Strategic Franchising offers a number of franchise systems to suit your lifestyle. All are home-based, keeping operating costs low, require no previous experience, include personalized business coaching and have financing available. Strategic Franchising also offer a discount for Veterans, making their franchised brands great options for transitioning service members. Their franchise systems include: - Fresh Coat, a painting and decorating franchise. - Caring Transitions, a service designed to help seniors with home relocation and house sales. - The Growth Coach, business and sales coaching - Pet Wants, a natural and fresh pet food and delivery franchise

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- Tru Blue, a professional home care service “We have tremendous respect for those that have served proudly in our military,” says the team at Strategic Franchising. “Your military background has taught you to be disciplined, dedicated, professional, assertive and confident; traits we actively seek in our franchise owners. We also know committing to owning your own business can be filled with what can seem like daunting obstacles, so we offer franchises that make it easier for you to take that leap.”

Restoration 1 Like many other franchisors, the team at Restoration 1 see the multiple benefits of encouraging Veterans to join their team as franchise partners. Restoration 1 provides fire, water, and mold damage restoration services, as well provides emergency services and storm damage services, making it a great choice for Veterans. Many ex-service members will have numerous desirable, transferable skills that would assist them greatly as a Restoration 1 franchisee, which is why Restoration 1 offers honorably discharged Veterans a 20 per cent discount off their franchise fee. “Veterans are uniquely qualified to franchise with Restoration 1, as they have a proven ability to follow systems, procedures and processes necessary to make any venture successful. Because our business model is easy to run and easy to scale, Restoration 1 is a perfect fit for honorably discharged veterans who aspire to turn their dreams of entrepreneurship into reality,” the Restoration 1 team explains.

Business Review and as a ‘Top Military Friendly Franchise.’

“For many Veterans, transitioning out of service to daily civilian life can be

difficult. FastSigns is dedicated to helping

Veterans find success and purpose through our sign franchise opportunities, which is

validated by the fact that 10 percent of our franchisees are Veterans.”

“FastSigns makes it a point to welcome our Veterans into the company and

give them the tools they need to build a

successful business after their time in the

armed forces,” says the team at FastSigns. Additional incentives FastSigns offers to Veterans include:

- reduced royalties for the first 12 months - SBA approved franchise financing - flexible location options The franchising industry acknowledges the sacrifice that Veterans have made for their country and recognises the wealth of skills, training and experience that Veterans have to offer to their community. Purchasing a franchise is a fantastic option for Veterans wanting to own their own business. Becoming a franchisee is a great way to mitigate the risk of owning a small business, and the franchise businesses listed above, as well as many others, provide valuable incentives and programs to help Veterans hit the ground running in a franchise business.

FASTSIGNS FastSigns is another successful franchise business that offers programs and incentives to Veterans wanting to join their franchise network as a franchisee. FastSigns offers 50 per cent off their franchise fee to all Veterans and First Responders, making it a great option for transitioning service members whose goal is to own their own business. FastSigns have been recognised as one of the ‘Top Franchises for Veterans’ by the Franchise

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Veteran Profile: U.S. Air Force Reserve Capt. Eric Friedrich II

Business After Service: Why Veterans Choose Franchise Ownership

After serving their country in the military, it can be daunting for veterans to determine the next step in their lives. Franchise ownership can be a great opportunity for veterans to apply what they’ve learned in the military while working for themselves. U.S. Air Force Reserve Capt. Eric Friedrich II knows how military service can help prepare someone for business ownership. After separating from active duty, he became the owner of FirstLight Home Care of Southeast Georgia. “If you can survive and be successful in the military, you can succeed in running a business on the civilian side,” he said.

“If you love the military, you don’t have to get rid of it completely. I still get to throw on the uniform 8 weeks a year. I have the freedom to go do my reserve days. That’s one of my best decisions.” - Eric Friedrich II

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Service Career Friedrich started out training as a pilot in the U.S. Air Force but became an intelligence officer. While stationed in Germany, he served as a collection manager for the intelligence, surveillance, and reconnaissance division (ISRD) for the United States African Command. He later served as an ISR liaison officer at Fort Campbell, Kentucky, before separating from active duty after a leg injury prevented him from further deployments.

Setting Up Success Running a business is challenging, but veterans are taught the skills to be successful. “The franchise gives you the tools, but it’s still overwhelming,” Friedrich said. “That’s where the military really does set you up for success. It provides structure, teaches you leadership skills and gives you the confidence to tackle tasks that seem too big to handle on your own. This experience can be very easily translated into business ownership.” For Friedrich, franchise ownership was appealing because, like the military, the franchisor provides the structure and a system to follow for success; however, you still get to be your own boss, “If you can survive in the military and deploy and come out on top, the challenges of owning your own business seem like nothing,” he said.

Finding the Right Franchise Joining a franchise requires a significant investment of time and money. It’s important to find the right fit before signing on the dotted line. That’s why good corporate culture and relationships matter. “During my initial conversations, most of the homecare companies blew me off a little bit due to the fact that I was still active duty,” Friedrich said. “When I

“The franchise gives you the tools, but it’s still overwhelming. That’s where the military really does set you up for success. It provides structure, teaches you leadership skills and gives you the confidence to tackle tasks that seem too big to handle on your own.” - Eric Friedrich II called FirstLight, it was the total opposite. They are super military friendly there. From the get-go, I got the feeling it was the right move. They couldn’t have been more helpful.” It pays to look for a franchise network that supports veterans by offering them franchise fee discounts. Another aspect to consider is whether the franchise offers corporate donations to nonprofit organizations that serve veterans.

Serving Other Veterans Owning the franchise gives Friedrich a chance to help other veterans, from those suffering with traumatic brain injuries to others dealing with post-traumatic stress disorder. “We have several veterans that we serve,” he said. “I work a lot with the VA out of Lake City, Florida. They have case managers out there who work with veterans. If they see a need for home care for them, they’ll contact us and we’ll set up care in that veteran’s home. The greatest part is when I go to do a sign-up with them and they realize I was in the military, too. “Veterans love sharing their stories. When they do find that out, they get almost a sense of comfort, knowing they have another veteran looking out for them. At the end of the day, it’s that camaraderie and that brotherhood and sisterhood that no matter what branch we were in, we all share a common bond.”

Keeping a Foot in the Door Franchise ownership can offer another advantage to veterans: flexibility. Owning

his own business gives Friedrich the opportunity to serve in the U.S. Air Force Reserves. “That’s another piece of advice I would give them,” he said. “If you love the military, you don’t have to get rid of it completely. I still get to throw on the uniform 8 weeks a year. I have the freedom to go do my reserve days. That’s one of my best decisions.”

Trusting the System Franchises have been described as suiting the kind of entrepreneur who wants to work for themselves but not by themselves. Franchise owners have access to proven business systems and procedures developed by the franchisor. In order to succeed, franchise owners have to be able to embrace the guidelines set by the franchisor, Friedrich said. “A lot of people find the franchises and then try to do things their own way, but I bought into the franchise because I needed a path to success. “When I opened my FirstLight, I did everything exactly like the franchise corporate office laid it out. They have a model for a reason. If you stick to that model and work hard, you’re going to succeed. It’s worked out well.” Eric Friedrich II is owner of FirstLight Home Care of Southeast Georgia. FirstLight Home Care is a top-rated non-medical home care provider with a network of offices that provides more than 93,000 hours per week in care for more than 4,300 clients in over 33 states. www.firstlighthomecare.com

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Q& A: Paul Bosley, Managing Member, Business Finance Depot

with

Paul Bosley

What are my Financing Options? A new business is funded by any combination of 3 methods: Self-Funding, Equity Financing and/or Debt Financing. In all cases, a new business owner will have to invest some of their own money in the new franchise venture because 100% financing is not available. Self-financing can be investing your liquid assets such as your savings and/or liquidating your marketable securities such as selling your stock in Apple. A common method of self-funding is to use your retirement funds in a IRA or a 401K from a previous employer to invest in your own business which is referred to as a ROBS (Rollover our Business Start-ups). There will be a future article explaining the ROBS program which was launched by the Internal Revenue Service as an alternative for self-funding a new business. Another common method for self-financing is to secure a home equity line of credit which involves borrowing against the equity in

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real estate owned by the partners. Equity financing involves valuing your company in some acceptable manner and securing business partner(s) to invest their time and money in your new franchise business. The most common method is 2 or more family members or friends to invest and to share proportionately in the stock of the company. This method becomes necessary when more investment is needed than any partner can invest and when the skill sets of the partners is complementary. Debt financing is necessary when the total amount of investment required is more than the amount of money invested in self-financing and equity financing. The most common products used to provide financing to a new start-up business are SBA loans and equipment leases. • The SBA 7(a) loan program is the most common loan used by new business owners. This loan program allows for loans ranging from $25,000 up to $5,000,000. The repayment term is 10 years. The interest rate is a variable rate based upon the prime rate which

“The most common products used to provide financing to a new startup business are SBA loans and equipment leases.” changes over time plus a risk premium assigned by the lender. This loan can be used to finance all business uses including franchise fees, organizational costs, equipment purchases, build out construction costs, purchase commercial real estate and working capital. The borrower’s equity injection can range from 10% up to 30% of the total project cost. A future article will be written to explain the various types of SBA loans. • Equipment leases are used to finance the vehicles and the equipment needed to open and operate the new business. The terms of repayment vary based upon the financial strength of borrower(s). A typical lease for a startup business required a 20% deposit and a repayment term of 3 years. At the end of the lease, the purchase options can range from $1.00, 10% of the invoice amount financed or a fair market value of the equipment at that time. A future article will be written to explain equipment leases in more detail. For more information, please email Paul Bosley at: paul@businessfinancedepot.com. or visit us online at: www.businessfinancedepot.com.

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The Fall Franchise Chase!

“Spring may be a little more active, but Fall is my favorite time of the year for empire building. With a little work you can be on your way to a great next year building your own empire.”

George Knauf

There are a number of reasons that the period between mid-August and mid-September begins one of the busiest franchise development seasons of the year. This is what you need to know right now. We see a number of franchise brands begin, or revive, their franchise development programs mid-August to Mid September. Their goal is to be ready for

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the busy Spring season, but for the very savvy franchise opportunity seeker you can find great emerging opportunities with a lot of available territory while the field of play is a little less crowded! Better yet, lenders seem to be more aggressive getting money out on the street. How to find those opportunities: You often need to be, or know, an industry insider to see who is beginning to ramp up a development program. If you aren’t find one; you are looking for franchise professionals, consultants and the like. Contact them, ask what is new and interesting. Ask what new brands also have new but proven executives. We find that before a successful growth push, new brands will often go find proven pros to support that effort. The same rules stand. Make sure any concept is a good fit for you, know yourself. Do a full investigation. Crunch

the numbers. Talk to any owners they have. If you can’t build comfort then don’t move forward. Have you had a great year? Looking for a business expense? I am not a tax advisor, but if you had the opportunity to invest in business growth and lower your tax obligation then, well, that is not a tough decision for most. If your tax advisor agreed that a franchise fee and start up costs were a good write off to lower your taxes… get moving! It tends to take 2 to 6 weeks to evaluate a franchise, and 2 is very short. So let’s say 4 to be safe… You need to find something to look at, say that takes another 2 weeks. You are maybe looking at Mid to late October to be a franchisee and have paid your franchise fee. That is workable, but if you wait much longer you start closing in on the holidays. At that point you may be

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F R A N C H I S E E S VOL 12 ISSUE 06

SEPT/OCT 2018

w w w. c a n a d i a n f r a n c h i s e m a g a z i n e . c o m

AUSTR ALIA and NEW ZEALA ND

SIGNARAMA CANADA:

S HOWING OFF A NE W S IG N OF ITS OWN

FE ATUR E

BUSINESS SERVICES BUYING A FRANCHISE

SUPPLIER FORUM