11 minute read
Why owning a franchise is for everyone regardless of race, education, gender, or geography
by Rich LeBrun, Consultant, The Franchise Consulting Company
One of the great things about owning a franchise is that it is available to everyone regardless of race, education, gender, or geography. That’s right - everyone! The criteria that determine if you would be a good business owner or not has nothing to do with race, education, gender, etc.
The trend of globalization has effects towards small businesses. It is evolving to cater with the modern changes. The notion of a certain ethnicity running only a certain kind of business is long gone. Approximately 19% of U.S. employer businesses were minority-owned providing millions of jobs. This shows an increase in business ownership for small businesses across all the ethnic groups. As of now, the pie in business ownership consists of 71.8% white, 11.6% Hispanic, 9.6% Asian, 4.2% African American and 2.8% for remaining ethnicities.
To understand this better, let me explain what the franchise model is and how it came about. It all began back in the boardroom. Key executives who started the franchise had a decision to make when they launched the company. “Do we become a franchise or not?” Companies like Starbucks decided not to go the way of franchising. Why? Because they wanted full control over staff, capital, and pace of distribution.
McDonald’s, on the other hand, decided in their board room that being a franchise was a better route for them. They liked the idea of using other people’s money (the fact that owners will have invested in their company). They didn’t want to manage hundreds or even thousands of employees and they wanted to increase the pace of distribution. However, they knew that if a person invested in their company and wanted to own their business, they would have to give up control. Therefore, companies who chose the franchise route have a defined set of criteria that they are looking for in an investor/owner of one of their franchise stores.
Franchise companies are looking for anyone who can show a good work ethic and have a background in management, leadership, and business development, and who have the capital requirements needed to purchase the brand. There is one group of people that do stand out as great franchise owners, they are our veterans. Veterans have proven that they can follow a system, and franchise companies are wanting their owners to follow the system they created that has brought them success.
This is what’s so great about the franchise industry. It is truly “The American Dream”. You don’t have to have experience in the product or service, they will train you. You don’t have to have a college education or an MBA, you only need to show a good work ethic and that you can manage operations, build teams, and understand what it takes to develop your business.
You might be thinking that franchise ownership is only for those well-off, those with maturity in age and net worth. Interestingly enough, there was a shift in the average age of franchisees. Ten years ago the average ge was between 45 to 65 years old. However, today the survey shows that individuals start to own franchise businesses as early as their mid-30’s. The trend for net worth in starting a franchise has also taken a favorable turn. The cost of owning a franchise can run from $50,000 to well over a million dollars. There is something for everyone. We have individuals, families, partnerships, corporations, and even private equity groups who buy franchises.
There is a great saying “A job is the quickest way to cash flow but owning a business is the fastest way to build wealth”.
Franchise ownership is not for everyone but for anyone who has the drive and mindset of taking control on how they earn. Regardless of background, ethnicity, age, even education; individuals can own a business that can secure their future.
We at The Franchise Consulting Company would be glad to help you learn how you too can reach the goal to secure your future!
ABOUT THE AUTHOR
Rich LeBrun is the founder and CEO of LeBrun Advisory group Inc. and owner in the Franchise Consulting Company, working with clients around the US and many parts of the world. Rich is an author of “What’s My Next Move”. Rich is a certified franchise broker (CFB) and commercial investment manager (CCIM). Contact Rich at rich@ thefranchiseconsultingcompany.com.
grow a healthy business
Healthy – USDA reports that American adults are choosing healthier foods such as fruits and vegetables to support a healthier lifestyle. That’s why nearly half of all Millennial and Gen Z consumers buy 3+ entrée salads per week away from home. Saladworks is on-trend. grow a healthy businessSimple – Our concept is asset-light, equipment-light and easy Saladworks is the original create-your-own, fast-casual salad franchise. to operate. No fryers and no hood means less expensive Healthy – USDA reports that American adults are choosing buildout costs for you. Just chop, slice and dice to serve the healthier foods such as fruits and vegetables to support a healthier lifestyle. That’s why nearly half of all Millennial and tastiest create-your-own salads around. Saladworks is turn-key. Gen Z consumers buy 3+ entrée salads per week away from home. Saladworks is on-trend. Accessible – The fast-casual landscape is overbuilt and Simple – Our concept is asset-light, equipment-light and easy grow a healthy business to operate. No fryers and no hood means less expensive buildout costs for you. Just chop, slice and dice to serve the tastiest create-your-own salads around. Saladworks is turn-key. cluttered with create-your-own burger, sandwich, pizza, Mexican and smoothie concepts. Landlords are looking for Saladworks is the original create-your-own, fast-casual salad franchise. Accessible – The fast-casual landscape is overbuilt and cluttered with create-your-own burger, sandwich, pizza, Mexican and smoothie concepts. Landlords are looking for healthy concepts like ours. We have the market, venue, format and footprint you want. Saladworks is available. healthy concepts like ours. We have the market, venue, format and footprint you want. Saladworks is available.
saladworksfranchising.com fransales@saladworks.com
* Details located at Item 19 inside Saladworks Franchise Disclosure Document.
$1,227,858 median net sales for top quartile*
Healthy – USDA reports that American adults are choosing healthier foods such as fruits and vegetables to support a healthier lifestyle. That’s why nearly half of all Millennial and Gen Z consumers buy 3+ entrée salads per week away from home. Saladworks is on-trend. Simple – Our concept is asset-light, equipment-light and easy to operate. No fryers and no hood means less expensive saladworksfranchising.com fransales@saladworks.com buildout costs for you. Just chop, slice and dice to serve the * Details located at Item 19 inside Saladworks Franchise Disclosure Document. tastiest create-your-own salads around. Saladworks is turn-key. Accessible – The fast-casual landscape is overbuilt and cluttered with create-your-own burger, sandwich, pizza, $1,227,858 median net sales for top quartile* Mexican and smoothie concepts. Landlords are looking for healthy concepts like ours. We have the market, venue, format and footprint you want. Saladworks is available.
saladworksfranchising.com fransales@saladworks.com$1,227,858 median net sales for top quartile** Details located at Item 19 inside Saladworks Franchise Disclosure Document.
From Chaos To Contentment:
Immigrant Is Floored By Opportunity
by Rhonda Sanderson, CEO, Sanderson & Associates
Javier Alonso loved his job in Venezuela, but he loved his wife and infant daughter even more. The decision he faced would affect his family for the rest of their lives.
Alonso had run a successful flooring business in Venezuela for 10 years. He had a passion for the industry he knew so well, but it mattered little given the circumstances in his native country. For Alonso, being in Venezuela was akin to finding yourself in a camping tent with a wall of tornadoes converging on you.
The country is on the verge of collapse, gripped by a harsh recession. The International Monetary Fund expects Venezuela’s inflation rate to reach 720 percent this year. There are shortages of food, medicine and most recently, an order of a two-day workweek for public-sector workers in order to save on electricity in government offices.
“Our country is in the middle of a terrible situation,” the 38-yearold Alonso said. “We have a nine-month-old daughter and we needed to pursue a better opportunity. We sold everything we owned and set off on this new adventure. Our goal was to not only start a new business, but to start a new life.”
The new adventure that Alonso, his wife, Isabel, and daughter, Ana Paula, set upon five months ago took them to San Antonio, where on March 22, Alonso opened a Floor Coverings International franchise serving the
communities of Alamo Heights, Shavano Park, Inwood, Castle Hills, Stone Oak and Dominion.
Floor Coverings International offers an unmatched selection of flooring products including carpet, hardwood, ceramic, tile, and vinyl, as well as specialty products such as bamboo and slate. Floor Coverings International’s expert Design Associates offer free in-home Design Consultations, visiting customers’ homes in a Mobile Flooring Showroom with thousands of flooring choices to assist them in choosing the perfect flooring solution.
When he made the decision to leave Venezuela, Alonso was certain he was leaving his flooring career behind. Given the circumstances, how could one be so fortunate to continue a career he loved in a new country while fleeing the turmoil of his former country?
“I was going to leave the flooring industry,” Alonso said. “Our main goal was to relocate from Venezuela, but out of luck, I found Floor Coverings International. The opportunity is everything that we envisioned our Venezuelan flooring business to be. Think about it… I get to keep doing something I know and love, just in a different part of the world.”
Community engagement is one of Floor Covering International’s core values and Alonso has already committed to supporting Child Advocates San Antonio (CASA), whose mission is to recruit, train and supervise court-appointed volunteer advocates for abused and neglected children and youths while advocating for services and placement in safe and permanent homes.
“This is a wonderful program, because not only will we be involved financially, but we will also be able to give of our time, which is probably the best way of contributing to this noble cause,” Alonso said.
It has been a whirlwind six months for Alonso and his family, certainly a time that he and his wife will never forget. But when Alonso replays the timeline in his mind, it’s a smile that emerges with the memories.
“A friend we met here in San Antonio said there a few stages in life where you put yourself through a lot of stress,” Alonso recalled. “Moving to a new place, having a baby, starting a new business, and adopting a new culture… it seems we are doing them all at once and we are loving it!”
Catching up with Javier this month he added this update: “We hit the grown running and in 2017 we won New Franchise of the Year being the first franchise to do one million in the same year we opened. Our family has grown and now Ana Paula, 6 years old has a 3-year-old sister Cristina Elena deepening our roots in the states. I was part of the Franchise Advisory Council for 3 years and won the President’s Award in 2020 for the contributions made to the network during the pandemic’s initial year. Our American dream continues with a much more robust business that has 3 design associates and over two million in sales for 2021.We came here looking for a future, now we have a present and we have grown our immediate family but also our FCI one, having them support us during the ups and downs has been keen to the stability we didn’t have back home.”
ABOUT FLOOR COVERINGS INTERNATIONAL
Norcross, GA based Floor Coverings International has ranked consistently as the #1 Mobile Flooring Franchise in North America by Entrepreneur Magazine. The 181 franchisees and their Design Associates offer a unique in-home experience with a mobile showroom that comes directly to the client’s door. More than 3000 flooring choices are available to view in the home with and along-side the existing lighting, paint, and furniture. The company will open several more locations throughout the U.S. and Canada through franchise expansion in 2022. For franchise information, please visit www.opportunities. flooring-franchise.com and to find your closest location go to www. floorcoveringsinternational.com.
ABOUT THE AUTHOR
Rhonda Sanderson is a franchise expert who has owned and operated Sanderson & Associates and Sanderson PR, both specializing in, traditional, social media and crisis PR in the franchise space since 1986. She has authored many articles, helped grow numerous franchise chains is considered one of the Top 30 Small Business Influencers (Fit Business) in the U.S. Find her at Rhonda@sandersonpr.com or on LinkedIn where she is the author of Franchise Stars at https://www.linkedin.com/in/rhonda-sanderson-a6b658/
