Franchise Journal September 2020 by TheFranchiseJournal

FRANCHISE Journal LEARN Why You Should Consider Options for Senior America p. 36

THE SCOOP Why Franchises Are Likely to Succeed in COVID-19 p. 18

HOW TO Make Your Final Franchise Selection p. 86

SEPTEMBER 2020 /FranchiseJournal.com

DESIGN YOUR LIFE ! Making Purpose Fila le Living p. 92 d

r e v the Si l i m a n u Ts

Baby Boomers are Changing The Elder Care Franchise Landscape

Itâ&#x20AC;&#x2122;s a silver tsunami! Join our team and ride the wave.

Own your own senior living placement business and make a diﬀerence. Approximately 45 million Americans are age 65 or older. By 2030, that number will reach 73 million Americans.

Currently, around 1 million Americans live in some type of senior living community. That number is expected to double by the year 2030.

An estimated 70% of people currently turning age 65 will require some form of long-term care in their lifetime.

Be a part of our compassionate and dedicated team. • We provide a vital service at no charge to seniors and their families. • Franchisees receive unparalleled training, ongoing support, and business marketing. • Work from home with a low-investment, low overhead business.

Kim Graham |

Director of Franchise Development

239-940-6669 kim@oasissenioradvisors.com oasissenioradvisors.com/franchiseopportunities

FranExpoUSA.com

FranExpoUSA.com FranExpoUSA.com

Build your own media company with

Your brand. Our audience. DIGITAL-OUT-OF-HOME ADVERTISING Social Indoor is an advertising franchise that focuses on marketing in local venues, primarily in restrooms of restaurants, bars, community centers, stadiums, and more. We install full motion digital monitors with audio capabilities to give our advertisers the most captive and powerful impression in out-of-home advertising. Consumers canâ&#x20AC;&#x2122;t flip the page, change the channel, or turn it off. Guaranteeing your clients ads are seen!

PROVEN LEADERSHIP: Our founder, Tony Jacobson, pioneered the industry back in 1987 with AJ INDOOR, and successfully reinvented it in 2002 with AllOver Media. His vision for this next chapter, is to build a national, digital advertising franchise network. Over 30 years of success in small to medium-sized cities and major metro areas.

TRAINING & SUPPORT: We have a comprehen-

sive training program & ongoing support to help you succeed.

PROPRIETARY TECHNOLOGY: Social Indoor

has developed SIMON, a proprietary software that will manage hundreds of venues and ads with flexible content. The monitors have full motion video, sonar and sound, allowing our ads to be even more engaging to consumers. Our SIMON software manages your market.

LOW START UP COSTS: You can own your own territory or even an entire market for as little as $50,000. We provide franchises with the digital monitors, pay for most of the installations and assist with any technical maintenance.

NO BRICK & MORTAR LEASE & NO/LOW EMPLOYEE NEEDS: Manage from your home and grow your team as you grow your business.

socialindoor.com

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contents

SEPTEMBER 2020

Q&A WITH BEST LIFE BRANDS

14 OASIS SENIOR ADVISORS

36 OPTIONS FOR SENIOR AMERICA

Oasis Senior Advisors Making Senior Housing Simple

Why You Should Consider Options for Senior Ameria By Rick Morgin

18 Why Franchise Business Owners Are More

Likely to Succeed Through COVID-19 By Seth Lederman 2020 Investment Strategy By Rich LeBrun

26 Common Mistakes to Avoid When

Contemplating Buying a Franchise in Canada By Jim Gormley Keeping Loved Ones at Home By Eddie Rodriguez

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

40 "Thow Momma from the Train" and Other

Senior Care Options By Kevin Baron

46 Age in Place

By John Ovens

The Importance of Medical Fitness By Drew Paras

58 Ten Important Questions about the Senior

Care Industry By Dave Cooley

100

LITTLE MEDICAL SCHOOL RECEIVES RECOGNITION

66 FranDevCo

92 Make a Living? Design a Life.

Is your Business Franchisable? By Jeff Dudan

70 Why the Senior Care Industry is Thriving

During the COVID-19 Pandemic? By Bill McKee

74 The Best Investment? Yourself!

By Ken Boyce

By Faizun Kamal

96 FASTSIGNS INTERNATIONAL, INC. FASTSIGNS Finds Success in Expansion Despite the Pandemic 100 Little Medical School Is Recognized as

Innvoator of Youth Health Education By Rhonda Sanderson

78 Now It's Personal

106 The Senior Club

By Mitchell Licata

By Julie Kreider

82 BEST LIFE BRANDS

112 Franchise Ownership Models

Q&A with Best Life Brands A family of Companies Serving Seniors Along the Continuum of Care By J.J. Sorrenti

By Mark Schnurman

116 Are You Prepared? Five Important Lessons

By Phyllis Pieri CFE

86 With So Many Options Available How Do

You Make Your Final Franchise Selection? By Seth Lederman WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

2020 ONLINE FRANCHISE EXPOS

UPCOMING EXPO

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Franchise Expo

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THE GREAT AMERICAN VIRTUAL FRANCHISE EXPO TIMES ARE 11:00 AM - 5:00 PM EST

SEPTEMBER 24

OCTOBER 8

The Great American Expo

OCTOBER 22

NOVEMBER 12

www.FranExpoUSA.com

The Great American Expo www.FranExpoUSA.com

NOVEMBER 23

The Great American Expo www.FranExpoUSA.com

www.FranExpoUSA.com

The Great American Expo www.FranExpoUSA.com

DECEMBER 10

The Great American Expo www.FranExpoUSA.com

PLANNING ON ATTENDING A TRADE SHOW IN 2020? THERE ARE ALOT OF CHOICES! Download our Free White Paper on how to get the most from your time at WHATEVER show you go to! Go to www.FranchiseJournal.com/whitepaper

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welcome

NOTES

T "Census Bureau data also estimates that one in every five Americans will be retirement age by that year. And beyond that, come 2035 some 78 million people will be over 65, while 76.7 million will be 18 or younger."

he Silver Tsunami is already rolling in and projections from the U.S. Census Bureau point to 2030 as a milestone year in which older people will actually outnumber children for the first time in history. Census Bureau data also estimates that one in every five Americans will be retirement age by that year. And beyond that, come 2035 some 78 million people will be over 65, while 76.7 million will be 18 or younger. It’s not just that the population is living longer and, as such, expected to cost more to treat or keep healthy people alive. There’s also the reality that as Baby Boomers age they are bringing demands and requirements that their predecessors did not envision. One of those is ageing in place. The desire to live in your home as long as possible. Consider that both a challenge and an opportunity. Franchising is certainly rising to this challenge with a myriad of offerings that provide services of every sort……...and opportunities for savvy entrepreneurs. As this field continues to grow, the growth for those interested in doing well and doing good is almost beyond comprehension. This month’s article is dedicated to those companies that make the world a little bit better for our elders and create opportunities for the next generation of entrepreneurs.

Nick Neonakis

Editor, Franchise Journal

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

FOUNDER

NICK NEONAKIS DESIGN DIRECTOR

Pete Neonakis DIGITAL DIRECTOR

Abel Beyene ART DIRECTOR

Marty Greenbaum

EXECUTIVE EDITOR Chantae Arrington

SENIOR DESIGNER Patrick Elsner

MANAGING EDITOR Brenda Lesch

VIDEO PRODUCER Matt Panepinto

DEPUTY EDITOR Faizun Kamal

CONTRIBUTORS Kevin Baron Ken Boyce Dave Cooley Jeff Dudan Jim Gormley Faizun Kamal Julie Kreider Rich LeBrun Seth Lederman Mitchell Licata Bill McKee Rick Morgin John Ovens Drew Paras Phyllis Pieri Eddie Rodriguez Rhonda Sanderson Mark Schnurman J.J. Sorrenti

SENIOR EDITOR Bill Polk ONLINE EDITOR Seth Lederman STAFF WRITER Megan Neonakis SOCIAL MEDIA EDITOR Abel Beyene ASSOCIATE EDITOR Mariel Miller ONLINE EDITOR Mike Ciccarelli

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FRANCHISEJOURNAL.COM

If you want to get ahead in franchising, The Franchise Journal has the most concepts and tactics to help you become a business owner.

Share with your friends. franchisejournal.com

SENIOR CARE

Oasis Senior Advisors Making Senior Housing Simple

caring, compassionate heart, a good business sense with a desire to excel and a willingness to give back to the community provides the perfect portrait of a franchise owner for Oasis Senior Advisors, which is dedicated to making senior housing simple for its clients and their families. When a loved one needs assistance offered by independent living, assisted living or memory care, a franchise owner with Oasis

Senior Advisors is committed to finding the perfect place that not only fits a senior’s health and budgetary needs, but also their lifestyle desires. Franchise owners embrace the Oasis vision of providing older adults with a comfortable, exciting and reassuring journey in a place perfect for them. Oasis is well positioned for growth, thanks in large part to the “silver tsunami.” Sixteen percent of Americans are age 65 and over, 4,000 Americans a day turn 85 and 10,000 turn 65. Oasis has 88 franchise

locations nationwide but sees the potential for close to 300 in North America. “An ideal franchise owner is somebody who is a compassionate person and a business builder, and they are individuals who generally care about giving back to their community,” said Kim Graham, director of franchise development for Oasis Senior Advisors, which is based in Bonita Springs, Fla., and services a growing number of franchises across the country. “A sales and marketing background isn’t required but it’s a bonus. They have to be willing to integrate themselves in the community, networking and marketing on a daily basis.” Franchise owners are an eclectic, high-energy group. They have backgrounds in business operations, healthcare and management in many fields. They are not afraid of a challenge and they enjoy engaging with people. “They know how to build and lead teams,” said Oasis Senior Advisors President John Benbrook, a former franchise owner. They also know how to build relationships with seniors and their families.

THE OASIS PLAYBOOK IS BUILT FOR SUCCESS. 14

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"WE MATCH THE SENIORS' NEEDS TO THE COMMUNITY." — John Benbrook, Oasis Senior Advisors President That book puts a franchise owner in the best possible position for success, Benbrook said. Most franchise owners work from home, limiting the amount of personal investment and overhead. The training and support are world class, giving franchise owners the latest in technology and tools to become successful. One of those tools is proprietary software that franchisees use to find the right place for their clients. CEO Tim Evankovich says the software is a competitive advantage for Oasis, and a great contributor to franchisee success. “Nobody else in our industry has their own software to help franchise owners manage every aspect of their day.”

Evankovich is no stranger to supporting f ranchise owners. Before launching Oasis Senior Advisors in 2014, he led a residential cleaning business with more than 180 f ranchise locations in 42 states and Canada. That 20-plus year experience has allowed Evankovich and the Oasis team to develop an intensive and supportive f ranchisee training program. Several members of the corporate team are former Oasis f ranchise owners themselves, giving them unique insight into f ranchisee needs. Clients and their families always come first through a personalized approach. After matching a client to

potential senior communities, Oasis advisors act as family advocates, accompanying clients throughout the transition process. The personalized approach, combined with the power of technology, has given Oasis a tremendous success rate in matching clients with the right housing option. “We match the seniors' needs to the community,” Benbrook said. Oasis Senior Advisors’ dedication to its clients has been noticeably apparent during the COVID-19 pandemic. In May, franchisees donated 8,500 plastic face shields to hospitals and skilled nursing facilities across the country. Others delivered hand sanitizers and homemade masks. Oasis connected with grade school students to write special cards for seniors who couldn’t have visitors, and some franchisees donated iPads so seniors could communicate with loved ones via video chat during the pandemic. “We have overcome obstacles, used our creativity and supported our franchisees,” Graham said. Evankovich hopes to continue building this group of compassionate and supportive franchisees. Through client satisfaction and strong partnerships throughout the country, Oasis Senior Advisors is well positioned to do just that. FOR MORE INFORMATION Visit oasissenioradvisors.com or call 888-455-5838 to learn more about nationwide franchise opportunities.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

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COVID-19 GUIDANCE

Why Franchise Business Owners Are More Likely to Succeed Through COVID-19 by Seth Lederman, Consultant, The Franchise Consulting Company

o one could have expected how the impact of the coronavirus would ripple through, well, everything. If you wanted to start a business this year, you might be thinking that those plans are out the window. But that’s not necessarily true. Here’s why investing in a franchise now may be your ticket to owning a successful business, even in the midst of chaos.

COVID HAS CREATED MORE OPTIONS FOR FRANCHISE INVESTORS Interest rates are down, landlords are more willing to negotiate shorter lease terms and rent concessions, and banks are willing to negotiate on loans with better interest rates. These conditions are surprisingly good for those looking to set up shop. Securing favorable terms now, when people are more

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

flexible, can accelerate a franchise's growth, especially when things start to pick back up again. For franchise investors, another area where there’s room to negotiate is with the f ranchisor. If you are considering becoming a f ranchise owner, there are more incentives and flexibility of franchise agreement

"BE STRONG NOW BECAUSE THINGS WILL GET BETTER. IT MIGHT BE STORMY NOW, BUT IT CAN’T RAIN FOREVER" — Unknown language that normally would not be achievable. Even if it’s just temporary, you can talk about what changes can be made to help you get through the pandemic. And if you need further assistance, the U.S. Small Business Administration can also help. Currently the SBA is waiving the first 6 months of payments on any franchise acquisition loan originated before September 27th, 2020, and possibly longer if they extend it. They have additional information and useful resources such as small business guidance, disaster assistance, and other relief options. YOU ARE NOT ALONE With all the uncertainty about the future, it pays to have someone you can turn to, someone who can provide franchise industry expertise in navigating

franchise ownership. A franchise consultant can be an invaluable resource for guidance and support, especially in times like these. With professional guidance and expertise, you won't have to take the leap by yourself. With extensive experience in the franchise industry, a franchise consultant can help you reach your goals even during global unrest, be sure to seek one out. It's important to lean on your resources and on people with experience during these times. In addition, when you are in business as a franchisee, you will have the staff and support who are trained with the best practices and guidelines set by your franchise. That means you don’t have to create procedures and processes from scratch. You can simply follow the “recipe for success” provided by your franchisor. And of course, don’t forget about your potential customers. When times are tough, they’re more likely to choose a brand they trust. A franchise associates you with a name that people know they can rely on. At the end of the day, both you and your customers are taking on less risk. FRANCHISES ARE BUILT TO HELP EACH OTHER OUT Franchisees are part of a large network of business owners. You can learn from each other and develop

collaborative and effective solutions in conjunction with your franchisor’s support. For example, some businesses are looking at texting to help with communicating with customers during COVID-19. If that’s something that can work in one location, it’s likely to work for many others. If you’re looking for brands with the support structure that’s ready to weather this storm, our franchise consultants can help. Frannexus provides the highest level of expertise in all franchise industry sectors and operating models. We’ll find a franchise that you can partner with for the long run. As you think about how your life is going to change, don’t forget that everyone’s experiencing the same thing. We’re all a little anxious about what the future might bring. While it’s good to be empathetic to those sharing the same struggle, don’t let that stop you from making progress. Rise to the challenge and you’ll build a business that can get through anything. Remember “rising tides raise all ships.” ABOUT THE AUTHOR Seth Lederman, a Franchise Acquisition and Development Specialist, is a Multi-faceted entrepreneur with over 30 years of experience in small business success, including ownership and sale of his own business enterprises. Contact him at 312-307-1297 or at seth@ thefranchiseconsultingcompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

FRANCHISEJOURNAL.COM/SUBSCRIBE C O N TA C T U S I N F O @ F R A N C H I S E J O U R N A L . C O M

A DIVISION OF KEYSER

DON’T HAVE A REAL ESTATE DEPARTMENT?

WITH F.R.E.D.

NOW YOU DO WHAT’S F.R.E.D.? Franchise Real Estate Department (F.R.E.D.) is your team of franchise commercial real estate experts.

F.R.E.D. IS ALWAYS

ON YOUR SIDE

As a franchise-focused division of Keyser, F.R.E.D. gives you all the power and resources of a commercial real estate brokerage, with a focus on franchising.

F.R.E.D. only represents tenants, never landlords, so you know we’ve always got your back and are ready to negotiate aggressively for you and your franchisee.

From site selection, to lease negotiations and hanging your official “Now Open” sign, F.R.E.D. helps remove the hassle by coordinating with construction, legal, and your landlord throughout the entire process at no cost to you or your franchisee.

CHAT WITH F.R.E.D. ROCCO FIORENTINO

rf@keyserco.com 609.206.4300

TY BREWSTER

tbrewster@keyserco.com 623.332.3201

OR VISIT US ONLINE www.keyserco.com/fred 602.9.KEYSER

EXPERT ADVICE

2020 Investment Strategy by Rich LeBrun, Consultant, The Franchise Consulting Company

or many of us there has never been a tougher time to discern the right investment strategy as it is today. With a virus pandemic that hasn’t been seen since the early 1900’s, unemployment that has exceed that of the Great Depression, the GDP hitting a historical low, civil unrest in the streets similar to that of the 1960’s and a stock market that is shored up by the federal government, how do we make sense of it all, especially when it comes to making an investment decision? Howard Marks, CEO of Oaktree Capital and a world renown investment advisor of which people like Warren Buffet heeds advice, has said in years past “we have always had history to base future decisions on, yet today much of what we’re seeing is unprecedented and history is as current as the last 30 days.” This has to bring us back to the fundamentals. Much like the great football coach Vince Lombardi said to his 1961 Green Bay Packers after watching their championship dreams slip through their fingers “Gentlemen, this is a football!” So, what are the fundamentals? For this I will defer to one of the greatest investors of all time, Warren Buffet. Here is what he lays out as being a solid game plan.

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1. Invest in what you know… and nothing more “ Never invest in a business you cannot understand.” — Warren Buffett

2. Never compromise on business quality “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” – Warren Buffett

3. When you buy a stock, plan to hold it forever “If you aren’t thinking about owning a stock for ten years, don’t even think about owning it for ten minutes.” – Warren Buffett “Our favorite holding period is forever.” – Warren Buffett

4. Most news is noise, not news “Owners of stocks, however, too often let the capricious and often irrational behavior of their fellow owners cause them to behave irrationally as well. Because there is so much chatter about markets, the economy, interest rates, price behavior of stocks, etc., some investors believe it is important to listen to pundits – and, worse yet, important to consider acting upon their comments.” – Warren Buffett

5. Investing isn’t rocket science, but there is no “Easy Button”

6. Know the difference between price and value “Price is what you pay. Value is what you get.” – Warren Buffett

7. The best moves are usually boring “Beware the investment activity that produces applause; the great moves are usually greeted by yawns.” – Warren Buffett

8. Only listen to those you know and trust

“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ.” – Warren Buffett

“Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.” – Warren Buffett

As sound as these fundamentals are, there are a few more questions you need to ask yourself or do before you start to invest in anything. 1. Draw a personal financial

roadmap. Identify what you want the investment to do for you. 2. Evaluate your comfort zone in taking on risk. 3. Consider an appropriate mix of investments. 4. Consider rebalancing your portfolio occasionally. 5. Create and maintain an emergency fund. 6. Understand the value of time. Investment options haven’t changed over time, they

remain the same. Put your money under the mattress, place it in a money market, bonds or stocks. Buy real estate or buy a business. The strategy is the same when you defer to the basics. There is no magic button to push but rather disciplined due diligence is the best secret sauce. In the franchise industry we have seen an increased interest in business ownership today as a way to diversify one’s investment portfolio, secure their future,

create recurring income, leave a legacy for their children and fulfill personal dreams. ABOUT THE AUTHOR Having had the opportunity to own and operate several businesses throughout his thirty-year career, Rich LeBrun is passionate about helping his clients reach their financial freedom and secure their future through business ownership. If you would like to learn more, feel free to reach Rich at 224-678-9212 or by email at rich@ thefranchiseconsultingcompany.com. Please check out his free services at rlebrun.com

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

RETIRED RETIRED:

I KNOW IT ALL, I JUST CAN'T REMEMBER IT ALL AT ONCE

NOT EXPIRED! 2020 Congratulations to one of the BEST! — Janice Charles, The Franchise Consulting Company

BOB ROCKS! — Jim Wood, The Franchise Consulting Company

Bob, you are the man, Go Irish!!

— Eric Martin, Lawn Doctor

I have known Bob for years; he is fabulous! Congratulations Bob!

— Nancy Lanard, Lanard and Associates, P.C.

Wonderful Memories my Friend. Pool Time!! — Doug Schadle, Rhino 7 Franchising

Bob is the epitome of magnificence! — Ali Zorich, Guidant Financial

Bob is a man of integrity

— Richard LeBrun, The Franchise Consulting Company

LET the FUN BEGIN!

ONE OF A KIND! No one quite like him! A good friend and funny as shit! — Kurt Landwehr, Regis & BrandONE

Best of luck ! — Mitchell Licata, The Franchise Consulting Company

North Shore Boston - best evening ever! Thanks for the laughs Bobbie Mac!! — Gayle Longmore, MedSpa810

Awesome, Leader, Fun!

— Doug Stout, The Franchise Consulting Company

I should have listened to Bob and become a H&S franchisee!!! Argh! — Bill Polk, Barley Enterprises, LLC

Congrats! Bob McQuillan — Vice President of Development , Hand & Stone Massage & Facial Spa

BOB IS A GREAT KISSER!

— Mike Gardner, ShelfGenie of the Wasatch Range

Bob is a great guy!

— Richard Zimmer, Zoup!

Best is yet to come!

— Steve Taylor, The Franchise Consulting Company

Gonna miss that great Bob-Smile!

— Sherri Seiber, FranFund

Wonderful Memories my Friend. Pool Time!! — Doug Schadle, Rhino 7 Franchising

Bob always has a warm smile and welcome for everyone. Great times sitting around after a conference for a drink and a chat.

— Ann Power, The Franchise Consulting Company

Congrats my friend , here's to your retirement — Pete Baldine, Moran Family of Brands

Sincere, Funny, and a GREAT Singer — Bob Johnston, Fibrenew

Bob is everyone's favorite!

— Tom Ryan, Regis Corp

Bob is the consummate professional! — Faizun Kamal, The Franchise Consulting Company

Bob, you are a class act!

— Phyllis Pieri, The Franchise Consulting Company

If there is anyone in franchising who doesn’t know Bob McQuillan it would be surprising. Always ready with a mega-watt smile and exuding friendship, Bob has never met someone who isn’t a friend. He was instrumental in building Hand & Stone from a handful of locations to one of the largest spas on the planet. While he is retiring from that chapter of his life, he has many more adventures ahead of him.

May the road rise up to meet you. May the wind be always at your back. May the sun shine warm upon your face; the rains fall soft upon your fields and until we meet again, may God hold you in the palm of His hand.

EXPERT ADVICE

Common Mistakes To Avoid When Contemplating Buying a Franchise in Canada by Jim Gormley, Consultant, The Franchise Consulting Company

WHAT TO KNOW ABOUT COMMON MISTAKES AND HOW TO AVOID THEM Franchising can be a rewarding financial and professional experience for any budding entrepreneur who has the right personality, attitude, and willingness to work as part of a team. If you are exploring franchising as a possible career opportunity, you are likely excited and eager to get

started right away. Excitement is great, but you need to use that energy to carefully understand what’s ahead of you so that you make an informed decision. This will take time, but it will also help you to avoid common mistakes that could be costly. Spending time at the frontend before you sign a franchise agreement, can help you to: • Reduce financial challenges

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

related to your level of financial resources • Choose a great franchisor with a strong brand, business history, and reputation • Ensure that you will be happy with your decision to open a franchise Here are some common mistakes that franchisees make when exploring franchising.

CREATE A PERSONAL BUDGET THAT WILL ALLOW YOU TO COVER ONE YEAR OF PERSONAL EXPENSES TO HANDLE UNEXPECTED FINANCIAL DEMANDS WITH CONFIDENCE.

NOT CONSULTING WITH LEGAL AND FINANCIAL EXPERTS I can't stress enough how important it is for you to work with a franchise lawyer and financial adviser/business accountant and to do so the earlier the better in your journey to being your own boss. By speaking to both of these professionals, they can identify any legal or financial issues that may not be in your best interest. Better you know about issues before you go too far down the franchising road. By identifying any issues, these professionals can help you to avoid or minimize any unexpected costs, obligations, or challenges related to the franchise contract. The decision to own a franchise is a large investment of your time and money. Professional advice can help to minimize the risk and usually overcome legal and financial roadblocks before you sign a franchise agreement. These professionals can also help you to understand complex legal or financial requirements that you may not be familiar with. It’s important that you ask them any questions you have to increase your understanding.

NOT CONDUCTING THOROUGH RESEARCH (DUE DILIGENCE) Now is not the time to save time by doing incomplete research. This will not save you time. In fact, this initial research may be where you need to invest most of your time. If you spend time talking to both current and former franchisees, you can gather the information that either confirms your decision to work with a particular franchisor, or you may decide you want to explore other franchisors. Either way, knowing this information early on will save you time and money. It’s important to speak to a number of current and former franchisees. It may be tempting to speak to only one or two franchisees. However, it will be easier for you to spot themes and trends if you speak to more people. Have an open mind and listen carefully to what the franchisees are saying. Think carefully about what information you would like to gather. Here are just a few areas that you can explore: • The nature of the franchisee’s relationship with the franchisor • Did the level of sales and profit meet or surpass the franchisee’s expectations for the business or were they

less than their expectations • How the franchisor settles disputes • The level and quality of training and ongoing support Former franchisees can also provide important information about why they left the system. This could tell you important information about the culture of the franchise. Once you collect the information, you need to be honest with yourself about the information you have gathered. Avoid relying on a “gut feeling” to guide your decision making, or only paying attention to the positive information that you heard. Ideally, you want to make a decision based on balanced input. The information you collect will either confirm that you

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

are making a sound decision, or you may decide to research other franchisors. In any case, you can be confident that you have not cut corners and entered into a situation solely based on a gut feeling. NOT CREATING A BUSINESS AND A PERSONAL BUDGET A large risk occurs when franchisees do not have enough capital to get them through any unforeseen downturn in the economy or changes in the marketplace. There could be a number of reasons why you would need more capital. You need to prepare for this. Speak to an accountant to help you to understand the costs that you will have to cover. Create a personal budget that will allow you to cover one year of personal expenses to handle unexpected financial demands with confidence. An accountant can help you understand what your investment would mean for your personal financial situation. OVER-ESTIMATING HOW MUCH CONTROL YOU’LL HAVE AS A FRANCHISEE This item speaks to your “fit” for franchising. Being a franchisee takes hard work and long days, optimism, determination, patience, and focus on achieving success. These traits are also essential in the franchising environment. However, to be a successful franchisee, you will be required to follow: • Guidelines • Processes and systems • Prescribed operating manuals These are proven systems that have contributed to the

franchisor’s success. So, if you desire to do business your way, you will face problems with the franchisor. How willing are you to follow these guidelines and systems? This is a minimum 10-year commitment and If following these guidelines is going to be difficult for you, perhaps franchising is not the best business option for you. Again, you need to be honest with yourself when you ask yourself this question. Better that you know this about yourself before you pursue a franchise opportunity. Not everyone is cut out to be a franchisee. If you’re not a fit for franchising, you will not be happy or satisfied for very long. NOT MATCHING YOUR SKILLS AND INTERESTS WITH FRANCHISE OPPORTUNITIES The franchise industry has many different sectors and many categories within those sectors that you can select from. Take time to identify your skills, interests, knowledge, and related experience to find a franchise sector (for example Food) and category (for example Pizza) that aligns with your interests and passion. No matter how profitable a particular franchise is, it won’t be long before you are dreading what you’re doing if your heart isn’t in it. Increase your self-awareness of your strengths and interests and then explore franchise categories that align to your personality. Once you have landed on a particular category, search for brands that best represent that category. Again, this is important research, so take

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

FRANCHISING DO'S AND DON'TS DO: • Speak to franchise Legal and Financial experts in the early stages • Research the franchise industry and multiple franchisors • Ensure you have enough money • Know your personal strengths and fit for franchising • Select a franchise that matches your skills, knowledge, interests, and background DON'T: • Make decisions based on "gut feeling" • Rush into franchising without researching • Inflate your available finances

your time and collect all of the information that you need. You can minimize your risk and avoid a decision that can be costly and stressful when you pay attention to these common franchising mistakes. You will be even more excited about your potential franchise opportunity when you know you have taken all the right steps. ABOUT THE AUTHOR Jim Gormley has been active in the franchise industry in Canada for over 30 years and helps people be in business for themselves but not by themselves. For more information on the above article or to learn how The Franchise Consulting Company Canada can help you find the right franchise. You can contact Jim at 905-399-0657 or email him directly at jgormley@ thefranchiseconsultingcompany.com.

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Vacation Rentals

877-SKYRUN-1 | www.SkyRun.com

SkyRun Vacation Rentals What is SkyRun? SkyRun Vacation Rentals is the EASY-TO-USE all-in-one Professional Property Management Platform with the backing of a proven national brand

The Vacation Rental Industry’s Attractive Future Revenue in the Vacation Rentals segment will amount to US $87,099M in 2020. Revenue is expected to show an annual growth rate (CAGR 2020-2023) of 3.7%, resulting in a market volume of US $97,010M by 2023. User penetration is expected to hit 11% by 2023. 100,000

78 ,795

81,187

83,984

2017

2018

2019

87,099

90,406

93,760

97,010

2020

2021

2022

2023

75,000

50,000

25,000

Source: www.statista.com

“Second Hottest Franchise Opportunity in America” - Inc. Magazine

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*See Item 19 of our May 2020 FDD for further details (*2019 gross revenue for franchised businesses that have been operating 60 months or more. As of December 31, 2019 there were 203 franchised bu does not include any deduction of costs or expenses incurred by the franchised businesses.) Some outlets have earned this amount. Your individual results may differ. There is no assurance that you’ll earn as much. This information is not intended as an offer to sell a franchise. It is for informational purposes only. Currently, SH Franchising, LLC is not registered in franchisor and is currently headquartered at 901 Dulaney Valley Road, Suite 700, Towson, MD 21204. Residents of NY: This advertisement is not an offering. An offering can only be made by a pro

UT OF EVERY 10

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want to Stay Home. Our mission is to help them do just that.

emiere In-Home Care Franchise Opportunity

verage Annual Gross Revenues *$1,155,832

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ovide an essential and high demand service by coming a Senior Helpers franchise owner today.

Seniorhelpersfranchise.com | 1.877.376.7120

usinesses that had been operating 60 months or more. Of these 203 franchised business, 77 (38%) of them had greater than average annual gross revenues of $1,155,832 The gross revenue figure

n the states of RI, ND and SD . We cannot offer a franchise in RI, ND and SD until we have complied with applicable pre-sale registration and disclosure requirements. SH Franchising, LLC is the ospectus filed first the with the Department of Law of the State of New York. Such filing does not constitute approval by the Department of Law. Minnesota State Registration Number: F-7348.

SENIOR CARE

Keeping Loved Ones at Home by Eddie Rodriguez, Consultant, The Franchise Consulting Company

ome care is almost always preferred over placing a loved one in a care facility. With COVID19, if a loved one has to live in a care facility, family members may not be able to visit for an extended period of time, causing stress for everyone. This issue hits home for me as I lost my Father 8 months ago, pre-Covid19; and, It would have been horrible not to be able to see him. Enter the home care services industry, a $94 billion market. I work closely with many home care services franchises, and there is one that I like most due to how they developed their business model and how they help clients and their families. They provide full-service care in the home to a wide range of people, including the elderly, the disabled, people needing help after surgery, and dementia patients. We all need to think about recession-resistant businesses, especially now. Regardless of economic factors, daily care is necessary for many seniors. This franchise provides both companion care (â&#x20AC;&#x153;handsoff â&#x20AC;? assistance) and personal care services (â&#x20AC;&#x153;hands-on" support) to people of all ages. As state licenses allow and as franchisees are willing to

invest, offices can also provide some nursing services. Since 1980, this particular franchise has specialized in the senior care space. Personal care services are provided to individuals who cannot live independently without assistance. Roughly 85% of their business across the system comes from these hands-on care services, which are necessary vs. desired services. Additionally, their home care services provide a huge savings of about 40% to clients overtime vs. the cost of an assisted living facility or similar residency. Clients use and pay for their services as

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

needed vs. paying a set daily, weekly or monthly fee. Many people think home care companies provide nursing/ health care services in the home, or, they believe they provide companionship and homemaker services for their clients. The reality is that they are "private duty home care," meaning their services are very similar to what clients receive in assisted living facilities. This consists of companion care and personal (hands-on) care to help people with their daily living activities. They are a long-term care solution, so, like assisted living, they are not paid for by private health insurance or

WE ALL NEED TO THINK ABOUT RECESSION-RESISTANT BUSINESSES, ESPECIALLY NOW. Medicare. Only 10% of the entire home care franchising market is in the skilled care space, according to IBISWorld. Ninety percent of the market is in companion and personal care. This franchise Company has more than 200 franchised units across 34 states in the United States and Canada, Central and South America. The franchise was established to provide the high-quality care necessary for residents to remain independent and healthy within their own homes, the companyâ&#x20AC;&#x2122;s services are flexible and customized specifically to blend seamlessly into clientsâ&#x20AC;&#x2122; day-today lives. The franchise is looking for compassionate, goal-oriented people who desire to help others and make a difference in their communities. Strong management and leadership skills are preferred. They find that people with marketing, sales, or operations experience are well suited for this industry. They also look for individuals with high, long-term income goals who are equally interested in improving others' lives. This often comes from personal experience with home care for a loved one and are willing to follow the franchise model. Medical and healthcare experience is not necessary. Families see the value/ differentiating factors of their business, mainly in the quality and experience of the support team, their focus on

education and retention of caregivers, and their unique approach to care. Their person-directed care approach values and celebrates elders in their current stage of life. They focus on building a robust care partner team that includes the elders in their own care decisions and values the simple pleasures in life to

There is still a growing need for quality senior care agencies in all major markets. Ninety percent of seniors want to age at home. This franchise model helps to fill the increasing demand for care at home. Twenty percent of the population will be over 65 years old within the next ten years. 70% of those over 65 will

make care more meaningful. This is a customer-service oriented business. Not all agencies train on proper intake and in-home evaluation best practices, nor do they value the ongoing education and retention of caregivers. The agencies that focus on creating positive customer experiences and retaining the best caregivers and matching them to the right clients will win the business and gain the best reputation for quality care in local markets.

need long-term care services in their lifetime. This year, direct care workers will be one of the largest occupation segments. With layoffs during the pandemic, there are many experienced healthcare workers ready to work. ABOUT THE AUTHOR Eddie Rodriguez has been a serial entrepreneur for over 30 years and a franchise consultant for over 10. He loves helping people find their best next life. Contact Eddie at 305-460-9925 or at eddie@ thefranchiseconsultingcompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

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SENIOR CARE

Why You Should Consider

Options for Senior America by Rick Morgin, Consultant, The Franchise Consulting Company

An Interview with Ramzi Rihani, President & CEO, Options for Senior America Would you briefly describe the history of Options for Senior America? Options for Senior America is one of the oldest in-home senior care companies in the US. Established in 1989, it was founded based on a personal need the owners had for their love one. We were looking for a nurse’s aide to work as a live-in and provide personal

care services during daytime. We checked with all services available then and none provided live-in service. We saw an opportunity to fill a niche in the market. Today, 31 years later, the live-in program remains one of Options signature programs and the most popular program to provide 24/7 service for the many seniors who need it.

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

What differentiates Options for Senior America from other home health care franchises? To name a few differentiators: • Options’ standard territory is among the largest in the industry with up to 35,000 seniors. • Unique 7-day Live-in program • Preferred provider for all major long-term care insurance companies. • Referral contracts with government agencies and private companies who refer clients to Options franchises and corporate offices. • Multi revenue-generating sources • One of the lowest royalty fee in the industry at 4.75% • Start-up costs including franchise fee range from $83,000 to $110,00. • Because Options still owns and operated units in different states, we can design a training program for a new franchise owner based on real life situations. • Award winning brand four years in a row 2016-2019 putting Options in the top 1% of companies in this industry in North America.

SINCE MARCH 2019, OPTIONS HAS CLOSELY MONITORED THE EVOLUTION OF THE COVID-19 VIRUS AND HAS ADOPTED THE RECOMMENDATIONS OF THE CDC AND WHO. Describe a day in the life of your franchise owner? A franchise owner in a typical senior care franchise would spend most of his/her time in relationship-building with different referral sources, marketing, networking, inquiry taking as well as the overall management of the franchise including the operations side which is typically the responsibility of the care coordinator. Do Corporate executives make good candidates? A good candidate would be driven, self-motivated & goal-oriented with good networking skills. Someone who can follow a detailed business model, is hard working and has business ethics. Corporate executives who have these qualities will make an excellent candidate for our franchise. Some of our best franchise owners were corporate executives. What has Options done during COVID-19 to help their Franchisees? Since March 2019, Options has closely monitored the evolution of the COVID-19 virus and has adopted the recommendations of the CDC and WHO. It has developed new policies and procedures to specifically address this

issue to ensure that its personal care services are provided in the safest possible manner. These policies and procedures were regularly updated to match the constant development of the virus. How has the overall business of Options fared duringÂ COVID-19? Although COVID-19 has affected most businesses in a negative way, the senior care industry witnessed a boost as a result. Families were concerned about sending their loved ones to a health care facility fearing the increased risk in contracting the virus. Instead they reverted to keeping their parents at home and hiring a home care service to provide one-on-one care for them. Similarly, on the franchise side, more people showed interest in acquiring a senior care franchise because it is not only economy proof but also pandemic proof.

ABOUT THE AUTHOR Rick Morgin is a Consultant with The Franchise Consulting Company and alumnus of Santa Clara University. We assist clients with the educational process of researching and selecting available franchise businesses that best suit desired lifestyles and financial goals. The research, qualification, and application service we provide is free; our fees are paid by the Franchise company when a client opens their business. For more information please email rick@thefranchiseconsultingcompany.com, call/text at 925-324-6371 or visit Thefranchiseconsultingcompany.com

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

SENIOR CARE

“Throw Momma from the Train”

and other senior care options by Kevin Baron, Consultant, The Franchise Consulting Company

fter a very frustrating series of experiences in 2013, I thought Norman Bates had the right approach to Senior Care. Sit your loved one in a chair for perpetuity and collect the social security checks. But based on my experiences, many things have changed over the last few years. In 2013, my father, who was my best friend and mentor, was diagnosed with terminal liver cancer. Aside from the normal emotions my

family and I went through one question was how we take care of my dad. He was undergoing treatment that fortunately lasted almost 18 months before his passing. My father lived 100 miles away from me and the rest of my family. His entire life he was proud and independent. He lived in a single-family home and did not want to move. My family and I committed to do whatever we needed to keep him in his house for his remaining time. Given the challenges of living

HIS ENTIRE LIFE HE WAS PROUD AND INDEPENDENT. HE LIVED IN A SINGLE-FAMILY HOME AND DID NOT WANT TO MOVE. 40

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

90 minutes away, owning two businesses, and having a family with a limited ability to assist, the burden fell on me to take the lead. In addition to myself, my brother, my wife, my mom (yes, Dad’s ex-wife), my aunt, and my uncle, all pitched in to help care for my dad. Given our best efforts, we needed more assistance. We reached out to several in-home senior care services. Unfortunately, the help provided by these companies did not go well. While we had some wonderful caregivers during this time, it was clear that the industry was in desperate need of structure, organization, and maturation. The United States was seeing the tip of the iceberg of aging Baby Boomers, and the industry seemed unprepared. While there were several

issues, here’s one of the most troubling. Around 5 pm one afternoon, I received a call from the owner of the seniorcare company informing me no one would be able to care for my father that evening. I received two-hours notice, was 100 miles away, and trying to run my businesses. After a call to the franchise headquarters, the local franchise owner decided he would personally take care of my father that night. Needless to say, my relationship with the franchise owner was strained. But why did it have to come to that extreme? My dad passed away on December 22, 2015 around 3:30 am. I’m proud to say he was able to pass away in his bedroom at his house. Early in the day he had been surrounded by his loved ones, and we were laughing and sharing stories. We were able to give him what he wanted, as he did for my family and me so many times in our lives. While I miss my dad every day, it gives me peace that he was able to stay in his house and not die alone, which he feared. Well, that was 2013 and times have changed. As a franchise professional I have seen a surge of business-oriented individuals move into seniorcare franchising. The industry has better business operators, more refined systems, better IT infrastructures, improved recruiting, and is doing a much better job serving their stakeholders.

While I’ve witnessed these changes as a franchise professional during the last several years, in 2019, I had an opportunity to test the industry as a customer. My mom was seeking a new place to live and wanted to be surrounded by peers in a social environment. Being much more familiar with the industry, I reached out to a company that specializes in matching seniors to Assisted Living Communities. I was

pleasantly surprised that my observations of the industry’s improvement as a franchise professional was consistent with my customer experience. If you’re considering senior home care and assisted living placement services as a business opportunity or for a loved one, I hope my personal observations of the changes in the industry have provided some insight. If you still decide to throw Momma from the train, aim for a grassy spot!

ABOUT THE AUTHOR Kevin Baron is a seasoned corporate executive, franchise executive/owner and entrepreneur. His franchise consulting practice helps people realize their dreams of business ownership. Kevin is a consultant with The Franchise Consulting Company and can be reached at (407) 394-5281 or Kevin@TheFranchiseConsultingCompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

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SENIOR CARE

Age in Place

by John Ovens, Consultant, The Franchise Consulting Company The senior care franchise industry is one of the hottest business opportunities today. Best of all, the industry is poised for continued growth. At-home care is also widely recognized as a recessionresistant and pandemicresistant model. Due to

the continued aging of the population, the demand for at-home care is expected to continue regardless of economic forecasts. As a franchise owner of the franchise I’m describing in this article, you’ll be able to help seniors realize their desire

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

to “age in place.” Staying at home is desired over moving into a facility. Since 1996, more than 25,000 families across the United States have trusted this senior care franchise for compassionate home care services. Longevity in the

ENTREPRENEUR MAGAZINE HAS NAMED THIS FRANCHISE ONE OF THE FASTEST GROWING SENIOR CARE FRANCHISE SYSTEMS IN THE UNITED STATES. industry shows the service continues to perform well. This franchise is known for providing superior quality non-medical and skilled home care for senior citizens, disabled adults, and others. Franchise owners are proud to play an important role in preserving the independence and dignity of clients who are receiving ongoing assistance at home. This business model gives senior care franchise owners the promise of marketplace longevity, the certainty of increasing revenues, and the benefit of an entrepreneurial lifestyle that supports work/ life balance. The in-home care, assisted living, community caregiver referral services, and skilled home health care

services are highly regarded and thoroughly trusted by families. Entrepreneur Magazine has named this franchise one of the fastest growing senior care franchise systems in the United States. It all starts with how they train and support their franchisees. They pass along the passion for helping others to each and every new franchisee by helping them launch their chosen territory with a strong competitive advantage. FINDING THE RIGHT PLACE IS KEY The number of seniors in the United States is growing faster than other segments of the population. With this growth, comes a massive need for

With the rapidly aging population, investing in a senior care franchise allows you to capitalize on these trends: • 13% of the population are 65 or older. • Approximately 81.2 million people, or 20% of the population, will be 65 or older by 2040. • The number of adults aged 85+ is forecast to increase by nearly 150% to 14.2 million by 2040. • About 80% of seniors have at least one chronic health condition; 50% have at least two. • The baby boom generation could fuel a 75 percent increase in the number of Americans ages 65 and older requiring nursing home care • Demand for elder care will be fueled by a steep rise in the number of Americans living with Alzheimer's disease, which could nearly triple by 2050 • By 2060 the 65-and-older age group's share of the total population is projected to rise to nearly 24 percent.

This model does everything possible to help achieve your dream including: • Low initial investment • Exclusive and protected territory • Broadly recognized brand name and respected corporate image • Expert guidance in obtaining required licenses in your state • Access to ongoing lead generation activities • Daily, weekly, and monthly webinars on subjects that span the range of your operations • Continual specialized training for your staff • Local, regional, and national meetings to discuss and define best practices • Leadership conferences focusing on educational opportunities and networking with other franchise owners • Access to turnkey technology and proprietary operations applications • Award-winning national marketing and advertising campaigns

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

SENIOR CARE

FRANCHISEES TAKE ADVANTAGE OF A PROVEN AND ESTABLISHED BUSINESS MODEL DESIGNED TO BENEFIT ALL PARTIES INVOLVED. compassionate, high-quality living options. Every day, millions of seniors and their families begin looking for housing options just right for them. There are 10,000 Baby Boomers turning 65 years old every day. Some people need additional care due to memory loss or physical restrictions, or they

want to live in a community with others in the same phase of life. The stressor for seniors and their families often is not knowing exactly where to start with their search. A franchise is available that offers a guide for seniors and their families to help them navigate the choices and find the right one for their lifestyle, budget, preferences, and care needs. This opportunity is recession and pandemic resistant as the population continues to age. The heart of the franchise are people who genuinely care about making a difference in the lives of their clients. Franchisees have access to proprietary software that provides personalized service and excellent results to each senior and family. The business model allows the franchisee to offer clients referral services for free to further ease the stress during this significant change in life. They provide information on assisted living, independent living, memory care, retirement communities, residential care homes, skilled nursing homes, respite services, and hospice care. They also offer resources to help with everything from preparing for the upcoming transition, local moving services, legal matters, elder

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

law, wellness and nutrition, senior transportation, information on Medicaid and Medicare, and more. Franchisees take advantage of a proven and established business model designed to benefit all parties involved. Seniors and their families will receive expert services completely free of charge, and franchisees will be reimbursed by the housing communities that clients eventually end up choosing in return for representing them to potential new residents. This franchise is a nationally recognized, well-respected brand with offices throughout the country. As more and more Americans find themselves in need of senior housing options, the demand for services will continue to grow. This model allows you to run your own business, enhancing seniors' lives, supported by the training and resources of a strong corporate team. You will be investing in your future while helping seniors plan for theirs. With a low start-up cost, low overhead, no employees, and no office requirements, this is an opportunity to explore. ABOUT THE AUTHOR John has over 30 years of leading domestic and international businesses in the US and overseas, extensive experience operating multi location businesses globally. He joined The Franchise Consulting Company to continue helping people realize their dream of owning their own business. Contact John at 770-516-2184 or at johnovens@ thefranchiseconsultingcompany.com.

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the

Stats

Assisted living Alzheimer’s avg avg monthly rate monthly rate is

$4,000

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Franchising since 2006

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Commissions 75% to 100% of these fees

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Arizona Business Magazine’s Most Admired Companies in Arizona for 2019 GƑîŠČĺĿƙĚ ƭƙĿŠĚƙƙ ¤ĚǄĿĚǅɄƙ ǨǦǨǦ ¹ūƎ ¬ĚŠĿūƑ GƑîŠČĺĿƙĚƙ

Our culture - we are a franchise family One year ago today I made the best decision of my life. I am so blessed to love ǅĺîƥ T ēū ĲūƑ ƥĺĚ ǛƑƙƥ ƥĿŞĚ ĿŠ Şǋ ŕĿĲĚ îŠē TɄŞ making a decent living as well. Nikki W.

Thank you for this amazing business. I just got my 11th placement this month. /ǄĚƑǋēîǋ T ƥĺĿŠŒ Ŀƥ ČîŠɄƥ ĳĚƥ ċĚƥƥĚƑ îŠē it does. Shannon A.

I truly believe I could never have gotten this business off the ground and have been as successful as I am now (just one year later) without the organization, training, and support that this franchise has given me. Shawn S.

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SENIOR CARE

The Importance of Medical Fitness by Drew Paras, Consultant, The Franchise Consulting Company

t is well recognized that the population of elderly people within the United States is dramatically increasing. With this increasing age and longer life expectancy, the list of physical deficiencies in everyone grows. These deficiencies can not only affect the musculoskeletal system but can greatly affect oneâ&#x20AC;&#x2122;s health and mobility in numerous ways. Exercise and fitness has proven to have many health benefits (both physically

and mentally) and has been well documented among this age group. Everyone should engage in some type of regular exercise to help make up for these naturally declining deficiencies caused by aging, and certain exercises can aid or improve the condition of many other underlying chronic health issues. Looking holistically at the treatment of chronic diseases or conditions, such as hypertension, Parkinson's, Alzheimer's, arthritis, diabetes,

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and bone density, medical science has come a long way in developing viable medications, therapies, and physical exercise routines to aid with these conditions. Role of Exercise in Medical Fitness The medical community recognizes that various medical approached if coordinated, can deliver better results or outcomes for their clients. This collaboration can incorporate

EXERCISE AND FITNESS HAS PROVEN TO HAVE MANY HEALTH BENEFITS (BOTH PHYSICALLY AND MENTALLY) AND HAS BEEN WELL DOCUMENTED AMONG THIS AGE GROUP. physicians, acupuncturists, massage therapists, chiropractors, physical therapists, and exercise coaches, among others. Medical Fitness seeks to adapt a more collaborative approach. This will help maximize the health and quality-of-life for our aging population. The importance of exercise is now widely accepted among this age group, creating a growing need of specialized boutique fitness studios, catering to 55+ year old adults. These specialized studios allow a fitness professional to assess the needs of these individuals, so they can be guided and coached through disease prevention, fitness, and mobility management programs. These services help minimize risks of injury

while also improving overall health from all aspects. Incorporating Fitness Professionals in Healthcare The healthcare community is expanding into the realm of exercise in caring for individuals with chronic illnesses. This has made the incorporation of fitness professionals in exercise prescription an increasing necessity. For successful integration, fitness entrepreneurs can now join and gain the support of franchisors who are specializing in the 55+ age demographic, along with the growing specialization of new educational and certifications programs. As the aging population increases, so does the need for providing exercise services. Our aging population is looking for ways to

maintaining mobility and a healthy lifestyle, and are willing to spend liberally for these benefits. The healthcare community understands the need for this collaborative approach, which is opening doors for fitness platforms and franchised business opportunities nationwide. This is not only providing health and exercise benefits to our 55+ population but also, provides tremendous business opportunities for entrepreneurs. ABOUT THE AUTHOR Drew Paras is a franchise business consultant who specializes in health and fitness opportunities. Because of this specialty, Drew can offer his clients a unique insight, and the tools his clients need to help identify options that are well-suit for their personal and financial goals. Contact Drew at 678-634-9497 or at drew@ thefranchiseconsultingcompany.com.

Your best option to start your own business in the fastest growing industry in the country today. • Largest Territories available in the industry • Low Franchise Fee of $47,500 • Low start-up cost $83k - $110k (includes franchise fee of $47.5k)

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Perfect for multi-unit franchisees, all business systems are tracked by an industry-leading CRM, allowing real-time access to crucial business and sales data. Each location can be fully managed by a Lead Coach, freeing up the owners’ time to work on the business, not in it. And best of all, a turnkey marketing system delivers

and exercise solutions in the world. This allows us to work with clients of all ages and fitness levels. The data-driven results our clients achieve drive high retention and satisfaction. As an owner, you are delivering a workout that isn’t able to be replicated anywhere in your market.

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SENIOR CARE

Ten Important Questions about the Senior Care Industry by Dave Cooley, Consultant, The Franchise Consulting Company

1. How large is the Senior Care market? Well, for starters, the senior care market is commonly referred to as the “Silver Tsunami.” Why? Because the Baby Boomer generation is turning age 65 at the rate of approximately 10,000 people per day … and that’s been going on since 2011 and will continue at that rate through 2029! The senior market is already huge and is ever-growing! According to the US Census Bureau, in an article published on June 25th of this year, “The first Baby Boomers reached 65 years old in 2011,” said Dr. Luke Rogers, chief of the Census Bureau’s Population Estimates Branch. “Since then, there’s been a rapid increase in the size of the 65-and-older population, which grew by over a third since 2010. No other age group saw such a fast increase.” 2. What are the first levels of Senior Care? Maid services and handyman services are the first levels of senior care. As people age, they gradually lose the ability to do things they could

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easily do before. For example, Dad shouldn’t (or maybe even can’t) climb a ladder to change burned out light bulbs anymore. Mom can get up in the morning, bathe, dress, put on her makeup, make breakfast and remember to take her pills just fine, but she can’t get on her knees to scrub the bathtub anymore … it’s just too hard. Likewise, she can’t push that vacuum cleaner throughout the house or mop the floors like she used to be able to do. Mom and Dad need help with cleaning the house and household repair and maintenance … that’s why maid and handyman services are important as the first levels of senior care. 3. Do seniors want to live in traditional “nursing homes”? No! In fact, the American Association of Retired People … the AARP … conducted a study that found: More than 3 in 4 people — 77 percent — agree with the statement, “I’d really like to remain in my community for as long as possible,” according to AARP’s “Home and Community Preferences Survey,” conducted by the University of Chicago. Nearly the same number hope to stay in their current house. But only about half of adults 50-plus think they’ll be able to stay put. “We know that most people want to stay in their own homes, and the fact that many won’t be able to stay, means that we need to do more to ensure that people age the way they want to,” says Joanne Binette, senior research adviser for AARP policy research and international affairs. Among the poll’s other findings: • 36 percent plan to modify their homes to enable them to stay as they age. • Bathrooms and entryways are the most likely modifications.

• Toilet hygiene (getting to the toilet, cleaning oneself, and getting back up) • Functional mobility, often referred to as "transferring", as measured by the ability to walk, get in and out of bed and get into and out of a chair • Self-feeding (including cooking or chewing and swallowing)

4. What kinds of services do seniors need as they advance in age? As we already noted, the first levels of senior care are maid and handyman services. However, as seniors age, they need a steadily increasing amount of assistance. You’ve seen the television ads for companies that will remove a senior’s bathtub and replace it with a walk-in tub so the senior can more safely bathe. Most likely, you’ve also seen TV ads for companies that will install chair lifts on stairs or build wheelchair ramps that enable easier entry into homes. All of these services are greatly needed and the market is ever growing. There are several franchise companies offering these home alterations to enable seniors to age-in-place. It’s an unfortunate fact that men pass away before their wives. In fact, a post by Robert H. Shmerling, MD, in the Harvard Medical School Health Blog, revealed, “57% of all those ages 65 and older are female. By age 85, 67% are women. The average lifespan is about 5 years longer for women than men in the U.S….” Therefore, the importance of maid and handyman services are amplified by the fact that the majority of seniors needing help are women.

6. Are senior services affordable? Certainly, in-home senior care services are in growing need as the senior market continues to age. And the fortunate fact is that enabling seniors to age-in-place in their own homes is actually lower in cost in the long run than placing seniors in traditional nursing homes. Why? Because a senior’s assistance needs gradually increases over time and providing the specific assistance they need, as they need assistance, is less expensive than placing a senior in a nursing home and paying the full cost of nursing home care earlier than necessary. For example, as a senior ages, he or she (mostly she) will need a maid service to keep the home clean and safe. The senior will also need handyman services now and then as the need arises. Later, a senior will need assistance in the mornings to get bathed, dressed and “up and going” in the morning, which will only require a few hours of in-home senior care each day. As a senior’s needs increase, so too will the number of hours of in-home senior care. But that increase will be gradual, enabling a slower “ramp up” of the expense of care.

5. What are ADLs? As seniors age, they need more support in the form of assistance with “ADLs”, which is an acronym for Activities of Daily Living, which, according to Wikipedia, include: • Bathing and showering • Personal hygiene and grooming (including brushing/combing/styling hair) • Dressing WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

7. How do families pay for in-home senior care? According to a recent article published by the AARP, most in-home senior care is paid for “out of pocket.” "For the most part, the clients who have home care are private pay,” says Jerry Love, a Certified Public Accountant in Abilene, Texas, and a frequent lecturer on financing retirement and long-term care for the American Institute of Certified Public Accountants. Many cobble together a care budget from multiple sources, among them: • Annuities • Investments and savings • Long term care insurance • Life insurance policies that can be used for qualified home-care expenses through cash value or an accelerated death benefit • Borrowing, for example by taking out a reverse mortgage or home equity loan. Medicare and Medicaid do pay for some types of in-home care, primarily care prescribed by a physician to help a senior recover from an illness, accident or surgery, but that type of care isn’t meant to be simple, long-term in- home assistance for activities of daily living. 8. What other services do seniors need? In addition to in-home care, seniors need transportation to doctor and other appointments, as well as both medication reminders and actual administration of medicine as they age. Several companies use technology to help seniors remember to take their medications by installing automated devices that dispense each day’s medications and alert a designated caregiver if the medications aren’t taken on time. And, we haven’t even mentioned the ubiquitous “I’ve fallen and can’t get up” technology services. Most senior care franchise companies these days provide the “graduated level of care” services to provide what seniors need when they need it, including technology solutions to enhance and even delay increased levels of personal care. In addition to enabling seniors to age-in-place for as long as possible, many seniors, particularly those living alone, need access to senior day care centers so they may socialize with their peers while still being able live independently. Several franchise companies offer opportunities for day care services for seniors.

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9. What happens when in-home Senior Care no longer meets a senior’s needs? Unfortunately, for the majority of seniors, the ability to age-in-place eventually comes to an end. Either the cost of providing in-home personal care or the level of care the senior requires is greater than a senior care company can provide necessitates the senior to be moved into traditional nursing home care. When that time comes, the seniors’ loved ones need direct and caring assistance to help locate a nursing facility that can provide the level of care needed for the price the family can afford. That’s where franchises offering senior placement services help. These companies work with the seniors’ families to find the right facilities for their loved ones … and, families don’t pay these advisors for their valuable and caring assistance as the advisors are paid by the facilities in which the seniors are placed. The baby boomer senior population of the US is large and ever-growing. The demand for a wide range of services is also large and ever-growing. Those services include maid and handyman services, in-home assistance with “ADLs”, home modifications and technology to enhance safety and security for seniors to enable them to agein-place. Many highly-experienced franchise companies offer opportunities for people to become franchisees to serve the important needs of the senior community. 10. How has Covid 19 affected the Senior Care industry? Obviously, the Covid 19 pandemic that’s been playing out for almost six months now has had a significant impact on the senior care industry … but, with crisis comes opportunity. The hardest hit segment of the senior care industry has and will continue to be the nursing home segment. With the high numbers of nursing home residents passing away due to the virus over the past several months, it’s no wonder families don’t want to enroll grandma in a nursing home. SO, WHERE IS GRANDMA GOING? HOW IS SHE GOING TO GET THE CARE SHE NEEDS?

For many families, grandma will either age-inplace in her own home or move in with a relative, usually an adult child with his or her own children to care for. Therefore, in-home senior care will become even more important than it has been over the past decade.

BUT ALL OF THATâ&#x20AC;&#x2122;S CHANGING.

According to a recent article in Home Health Care News: The home care industry has historically been built on nonmedical services and a private-pay revenue structure. It has also long been underappreciated by the health care sector at large.

Nonmedical home care providers have proven their worth and range amid the COVID-19 crisis, keeping high-acuity seniors safe at home while cutting down on their risk of virus transmission. Home Health Care News predicts that home careâ&#x20AC;&#x2122;s long-term outlook will be defined by diversification of payers, more expansive services offerings, improved retention metrics and a slew of other positive changes. The future of in-home senior care is very strong, thanks to the ever-increasing size of the Baby Boomer senior market and the overwhelming majority of seniors wanting to age-in-place in their own homes or the homes of their adult children. Technology will play an important and growing part in providing security and care for seniors and services to alter the homes in which seniors age will continue to grow as the Baby Boomers continue to age. ABOUT THE AUTHOR Dave Cooley is a consultant with The Franchise Consulting Company who was previously the Vice President for Development of a senior care franchise. Contact Dave at 720259-9475 or at dave@thefranchiseconsultingcompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

grow a healthyequipment-light business and easy Simple – Our concept is asset-light, Saladworks is the original create-your-own, to operate. No fryers and salad no hood means less expensive fast-casual franchise. buildout costs for Healthy you.– USDA Just chop, sliceadults and dice to serve the reports that American are choosing healthier foods such as fruits and vegetables to support a tastiest create-your-own salads is turn-key. healthier lifestyle. That’s whyaround. nearly half of all Saladworks Millennial and 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 to operate. No fryers and no hood means less expensive cluttered with create-your-own burger, sandwich, pizza, buildout costs for you. Just chop, slice and dice to serve the tastiest create-your-own salads around. Saladworks is turn-key. Mexican and smoothie concepts. Landlords are looking for Accessible – The fast-casual landscape is overbuilt and healthy concepts like ours. We have market, venue, format cluttered with create-your-own burger,the sandwich, pizza, Mexican and smoothie concepts. Landlords are looking for Saladworks is the original create-your-own, concepts like ours. We have the venue, format and footprint you healthy want. Saladworks ismarket, available. fast-casual salad franchise.

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* Details located at Item 19 inside Saladworks Franchise Disclosure Document.

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Simple – Our concept is asset-light, equipment-light and easy to operate. No fryers and no hood means less expensive fransales@saladworks.com buildout costs for you. Just chop, slice and dice to serve the tastiest create-your-own salads around. Saladworks is turn-key.

* Details located at Item 19 inside Saladworks Franchise Disclosure Document.

t sales for top quartile*

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.

$1,227,858 median

saladworksfranchising.com

fransales@saladworks.com

* Details located at Item 19 inside Saladworks Franchise Disclosure Document.

$1,227,858 median net sales for top quartile*

grow a healthy business Saladworks is the original create-your-own, fast-casual salad franchise. 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 buildout costs for you. Just chop, slice and dice to serve the tastiest create-your-own salads around. Saladworks is turn-key.

grow a healthy

Saladworks is the original crea fast-casual salad franchise.

Healthy – USDA reports that American a healthier foods such as fruits and vegeta healthier lifestyle. That’s why nearly half o saladworksfranchising.com fransales@saladworks.com Gen Z consumers buy 3+ entrée salads p * Details located at Item 19 inside Saladworks Franchise Disclosure Document. home. Saladworks is on-trend.

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BUSINESS ADVICE

Is your Business Franchisable? by Jeff Dudan, CEO, FranDevCo Franchising my first company was the best decision I made. It allowed me to grow my business exponentially to a level that I never could have imagined, while also giving me the freedom to be home with my family at night. When considering franchising your business, there are five questions you need to ask yourself: 1. Is your product unique? 2. Is your business model profitable? 3. Is your business model replicable, scalable, and communicable? 4. Is your brand one that is respected and attractive to potential franchisees? 5. Do you have access to assets necessary for expansion?

IS YOUR PRODUCT UNIQUE? Like when opening a de novo business, potential franchisors must do thorough market research when considering expanding your business through franchising. Determine whether or not your product or services will

be valued in other regions. If that is the case, the next step is to figure out who the competitors are. If you believe your brand satisfies an unfulfilled need in a widespread market, your brand has potential. If the market is saturated with brands just like yours, franchising remains a possibility, however, you need to find clear competitive advantage to differentiate from the market. IS YOUR BUSINESS MODEL PROFITABLE? If your business is struggling, you may want to pause your franchise plans until you establish a proven, profitable business model. The franchise concepts that thrive are those that have proven themselves in more than one market or location, have authenticity via a great origin story and inspired leadership, attract experienced franchise talent, and are sufficiently capitalized to fund the launch of the business. Franchisees donâ&#x20AC;&#x2122;t just want to buy a job, they want a business that will offer a desirable return on investment of their

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time, energy, and money, and recapture their initial investment over two years if possible. IS YOUR BUSINESS MODEL SCALABLE, REPLICABLE, AND COMMUNICABLE? Perhaps the most important consideration when deciding whether or not to franchise is if a business is scalable. Scalability is the ability of a business to grow significantly larger without major increases in overhead or risk and not face restrictions in growth. If your business is maxed out and about to fall on its face if it grows any bigger, you may need to take a hard look at your people, processes and technology before you launch your franchise offering. When you sell a franchise, you intend to transfer your business processes and know-how to a franchisee who will run the model that you have perfected. Your business model must be both replicable and communicable in order for your process to be executed in each location. While not every franchise location will be run the exact same, your guiding principles and what

MOST IMPORTANTLY, FRANCHISING REQUIRES BOTH HUMAN AND FINANCIAL CAPITAL. made the brand successful must be transferable to each and every franchisee. IS YOUR BRAND ONE THAT IS RESPECTED AND ATTRACTIVE TO POTENTIAL FRANCHISEES? Having a good brand name is one of the very basic facts of existence for successful businesses. Besides generating more customers and a loyalty base, a reputable brand name becomes even more important when you think about franchising. The franchisee-franchisor relationship is incredibly important. Potential franchisees join brands they believe will support them and trust that will not try to take advantage of them down the road. If your company has faced scandals in the past, there is a good chance you will struggle to find interested franchisees. DO YOU HAVE ACCESS TO ASSETS NECESSARY FOR EXPANSION? Franchising your company takes time, work ethic, and capital. Before you franchise,

it's important to make sure that you have what it takes to be successful. Turning your brand into a franchise is a grind. There are so many things to take care of. Before franchising your company, make sure it's something that you are really interested in doing, and that you are motivated and determined to see it through the end. Franchising is a different business entirely than whatever product or service you provide, so be ready to learn many new skills required to make you a successful franchisor. Most importantly, franchising requires both human and

financial capital. You need to make sure you have a team in place that has the skills and ability to help you along the way. Expanding any business through franchising can be expensive, so be sure to do your homework so you know what amount of funding you are likely to need. At the end of the day, franchising is a great way to expand your business and find success through entrepreneurship. Before making any business decision, do your research and make sure that franchising is right for both you and your business.

ABOUT THE AUTHOR Jeff is the CEO of Dudan Partners, a published author, Forbes contributor, speaker, YPO Member, founder and consultant to emerging brands. Dudan Partners is a venturing and private equity family office and a catalyst for enterprise growth in the franchise industry via the deployment of capital, operational expertise, or other appropriate resources to emerging and established brands. Contact Jeff at 704309-4472 or at jeff@dudan.me. Visit dudanpartners.com for more information.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

Senior Care is an Essential Service

Now is the time to enter the senior care industry! One of the fastest growing industries in the country.

Build a business for your love of people and the people you love will build your business! Whatâ&#x20AC;&#x2122;s the Investment? Franchise Fee - $30,000 for remainder of 2020 (origianlly $45,000) Total Investement between $85,000 to $100,000

Best-in-Class Training! Our exceptinal training is like no other ooered and is designed to streamline the start-up process and get your senior care business up and running as quickly as possible . Minimum 3 weeks of hands-on training at our location and in your territory that includes all aspects of setting up and operating your business.

Meet Your Choice Senior Care at the Great American Virtual Franchise Expo or check us out at www.YourChoiceSeniorCare-Franchise.com

SENIOR CARE

Why the Senior Care Industry is Thriving

During the COVID-19 Pandemic by Bill McKee, Consultant, The Franchise Consulting Company As a result, the crisis has shaped a new approach to senior care and medical facilities, both from an operational and philosophical perspective. More immediately, skilled nursing, assisted living, and other senior care facilities need financial backup and investment to thrive in the long-term, and the idea of a home senior care franchising business is an attractive option, to say the least.

The COVID-19 pandemic has challenged communities across the nation. Amid an unprecedented crisis, some businesses, hospitals, restaurants, fitness centers, restaurants, movie theatres and the entire entertainment industry are in dire straits. But the pandemic has also been testing our ability to care for the people in need by highlighting the importance of senior care and the nursing industry

as a whole. The demand for in-home senior care has grown substantially, and the pandemic has shed light upon the urgent need to provide care for the elderly. The considerable underinvestment in senior care has now been exposed due to an unprecedented pandemic. The response to the pandemic has primarily been reactive, with most healthcare providers struggling to adapt to the situation.

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Franchising Opportunities in Senior Health Care With many industries struggling to be a particularly good investment during the pandemic, a lot of prospective entrepreneurs are looking or business opportunities that are recession-proof or have increased demand due to the pandemic. One of these lucrative investments is the home senior care franchising industry that is huge and rapidly growing. It provides healthcare services through franchised establishments, including skilled nursing care, companion services, physical therapy, and medical social services. By 2019, the number

BY 2019, THE NUMBER OF ADULTS OLDER THAN 65 HAS GROWN TO 55.0 MILLION PEOPLE, RESULTING IN AN $11 BILLION DOLLAR MARKET. of adults older than 65 has grown to 55.0 million people, resulting in an $11 Billion Dollar market. With people living longer due to advancements in medicine and technology, many seniors are wanting to stay in their own homes and enjoy independence for as long as possible. Franchises that provide skilled, medical and non-medical in-home services help seniors to do just that. Home Senior Care businesses are committed to providing safety during these challenging times. With a nationwide network of private senior care services, they provide comprehensive home-healthcare solutions. There are numerous homecare franchises that are also working towards creating a community of care and companionship to fight lockdown blues. For those wanting to live in a senior centre, there are also senior placement franchises in the U.S. that help individuals find a senior centre that provides assisted living or full care living that best fit their needs. Senior Care Franchise Ownership: A Lucrative Career Option Though it may sound counterintuitive, the pandemic has given many an opportunity to consider

franchise ownership as one of the more sustainable career options. This is an excellent opportunity for aspiring entrepreneurs to invest in a proven business model because franchise establishments have already spent the money, done the hard work and developed a business model that is not only profitable, but repeatable. The trajectory for the senior care franchising industry is expected to grow in 2020 and beyond, due to an increased demand to care for

the immunocompromised and elderly in domestic settings to avoid exposure risk to COVID-19. Franchise organizations possess the infrastructure and operational backing to ensure consistent business operations. By assisting with franchise planning, prelaunch support, training, marketing, and operations, franchise ownership presents itself as a wise career option to guarantee individual success and give back to the community.

ABOUT THE AUTHOR Bill McKee has been a business owner since 1993 and built several successful businesses. He has a fascination for understanding different business models and really enjoys helping people. For those reasons, he has been a franchise consultant since 2007 and has helped well over a hundred people to be awarded franchises. If you are interested to see what is available in your area, contact Bill at (972) 7678433 or Â Bill@TheFranchiseConsultingCompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

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BUSINESS ADVICE

The best investment?

Yourself! by Ken Boyce, Consultant, The Franchise Consulting Company

Do you own or rent your home or apartment? Let’s look at the reasons for either option. For those of you that own a home or apartment, most will say that you own a home to build equity and have an asset that will one day be your own. The payments will be the same for the next 30 years. You will not be forced to move because you own your home. You are in control as long as you make the payments. You will probably say that renting is like throwing money out the window. Most people will agree that owning a home is a far better option in the long run than renting. For those of you that rent your home or apartment, most will say they rent because they don’t want to be tied down to a location in case a better job becomes available. You may not be able to afford the downpayment or have the income required to pay the mortgage. We can all agree that if you are paying rent

then you are making money for the owner of the property. You may have heard the phrase, “If it depreciates, rent or lease it. If it appreciates, buy it!” Only makes sense, right? Don’t buy items like a car that will not appreciate and only cost you more money. If you are agreeing with the previous scenarios then let’s take these principles and apply them to your career. Growing up, we are encouraged to graduate high school, attend a university and get a good job. In fact, this is many people’s dreams. Not all of us are fortunate to take this path. So why do people take this path? We are taught that

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

investing in an education will open more doors and provide us with more income over our lifetime. We are investing in our future and there will be a payback personally and financially. There is truth with this path and most will say that there is a payoff. In fact, it is much like making a down-payment on a home and having a mortgage. Your degree is your home. Once paid off your education will help you make more income, it becomes an asset that makes you money. Now let’s bounce ahead. You are working for 5, 10, 20 years and you are earning a living to pay your bills, invest

YOUR DEGREE IS YOUR HOME. IT WILL HELP YOU MAKE MORE INCOME, ONCE YOU PAY OFF YOUR EDUCATION, YOU WILL HAVE AN ASSET THAT IS MAKING MONEY FOR YOU. in your 401k and climb up the corporate ladder. You work each day making money for someone else. Hold on one second! it sounds like you are being rented by the company that pays you! So, let me ask you a question? If you invest in an education to make more income, buy a home to build equity or invest in stocks in the hope they appreciate, why are you renting yourself out? You are your most

important resource! Not your degree, not your home, not your 401K. The simple answer is to invest in yourself or as I like to say, “Owning Your Success” Owning your own business is not rocket science. Most people just don’t know how to do it or what to do. That is what is magical about the franchise business model. The playbook has already been written. If you were a coach in the NFL would you like to have Bill Belichick’s

playbook? You betcha! Well, that’s what franchise companies have to offer. They have a proven busines model. They know what works and what does not. They have a developed marketing plan, operations manual and support team to assist in your success. I know what you may be saying, “But I have to invest money?” How long will it take me to make money? Can I be successful?” If you have a degree, own a home, have a 401K, or a successful career then why are you still renting yourself out? Isn’t it time to invest in yourself and Own Your Success?

ABOUT THE AUTHOR Ken Boyce has 25 years of experience in franchising and 18 years of business ownership. He focuses on working with C-Level professionals helping them create wealth and is a consultant with The Franchise Consulting Company. Contact Ken at ken@ TheFranchiseConsultingCompany. com or visit his website at www. owningyoursuccess.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

Start a Business. Change Lives. Owning an AtWork franchise isnâ&#x20AC;&#x2122;t just about building a business; itâ&#x20AC;&#x2122;s about changing the lives of job seekers and building community by connecting growing businesses to talented employees.

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SENIOR CARE

NOW IT’S PERSONAL by Mitchell Licata, Consultant, The Franchise Consulting Company

n July 3rd of this year I got a call at 7:00 A.M. from my brother in NY, he said this is the call no one wants to get. I immediately knew what he meant, that my father had passed away. While he has been sick for many years with a rare blood disease called MDS, you never expect or anticipate the call. Myelodysplastic Syndromes (MDS) is a rare blood cancer in which blood cells in the bone marrow do not grow to become healthy red blood cells, white blood cells, or platelets. If you are not able to develop healthy red blood cells it leads to anemia, which is common with MDS. When he was first diagnosed with it, about 15 years ago, it was described to me as pre-Leukemia. I have since come to understand that it is a disease unto itself. Please don’t hold me to all the technical medical terms but I believe I explained it in simple layman’s terms as I understand them. He went through many clinical trials and experimental drugs but there really is no cure. He received injections once a month and a blood transfusion maybe once every 6-8 weeks. I would always kid around with him

that he was on maintenance. It was like getting his oil changed. One way or another this program of shots and blood transfusions allowed him to live a mostly functional life until almost the end as he passed away at 87. I did fly up to NY from Florida to see him on Father’s Day with one of my daughters. His memory was fading fast, although I was happy that he knew who I was and he was excited to see my daughter and I. Looking at old pictures with him and my brothers was great. He was really good with names and people in pictures from 40-50 years ago but he struggled with names

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

and faces of more recent years. We brought him his favorite Dunkin Donuts coffee and coffee cake and looked at old pictures. We also took many pictures with him, my brothers, nieces, nephews and grandchildren. When we left for Florida, I knew that this would be the last time I saw him but didn’t want to get my daughter upset. While he was really good and functional until about the last year of his life, his wife started to get very worried about leaving him alone. He was now walking with a cane that progressed to a walker. She had a chair lift installed in the townhouse to get him up to

AS THE POPULATION GETS OLDER, MORE AND MORE FAMILIES ARE GOING TO FIND THEMSELVES IN OUR POSITION. the second floor. His wife had many conversations with us about visiting and keeping him company. It did get to the point where he could not be left alone. His memory was going and his body was failing him. Where do we turn for help? How did we get here? When did he turn 87? It all goes so fast. As the population gets older, more and more families are going to find themselves in our position. There are now many companies and franchises that can help. My advice would be to make a plan, make those phone calls and understand who can help with whatever your needs are. What are the costs of having someone stay with your mother, father or grandparent? Do you just need companionship or do you need nursing services? The Franchise Consulting Company represents many of these franchises that can help with elder care such as A Place at Home, Always Best Care Senior Services, Assisted

Living Locators, CareBuilders, At Home, Care Patrol, ComeForCare, Executive Home Care, HomeWatch, CareGivers, My Elder, Oasis Senior Advisors, Options for Senior America, Qualicare, Senior Helpers, Synergy Homecare, and Town Square. Call one of these franchises or others and understand your options. Be ready. It all happens so fast. Which one is the best for your situation? If you are a compassionate person, want to help the elderly in an ever growing field then you should

consider owning an elder care franchise. Suddenly when it is upon your family it all becomes personal and real. You can make a difference in someoneâ&#x20AC;&#x2122;s life. ABOUT THE AUTHOR Mitchell Licata is a Franchise Consultant with industry experience as a Certified Project Manager. He is also a former UPS Store franchise owner and area developer. He brings a unique perspective on purchasing a franchise. Mitchell can help you find the right franchise that fits your life style, goals & budget. Contact Mitchell at 954-242-4891 or at Mitchell@ thefranchiseconsultingcompany.com.

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A Q&A with Best Life Brands

A Family of Companies Serving Seniors Along the Continuum of Care by J.J. Sorrenti, CEO of Best Life Brands

portfolio of brands as we go forward into more senior care services.

Q. WHO IS BEST

LIFE BRANDS?

A. Today, we've got three

brands across the continuum of senior care services. ComForCare is an in-home caregiving service to help our clients stay independent as long as possible. CarePatrol’s senior advisors take the pressure off families to make decisions on independent living or assisted living. CarePatrol literally founded an industry nearly 20 years ago where they pioneered helping seniors and advising families to find safer senior living. Blue Moon Estate Sales is a really fun business in our portfolio. Seniors have a lot of stuff as they're trying to transition into a new home or retire and relocate. Blue Moon helps them liquidate their home and sell their belongings through professional estate sales. All three brands span the senior care continuum, and we'll continue to expand our

Q. WE’RE ALL IN A “NEW

NORMAL” FOR A WHILE. WHAT ADVICE WOULD YOU GIVE TO HELP FRANCHISEES NAVIGATE THEIR BUSINESS RIGHT NOW?

A. The use of video and

technology is more important than ever. We’re lucky to be in a day and age to have these resources, and in some cases, franchisees have a bit more time to talk to each other. We’re seeing peer groups forming, we’re leading town hall meetings and sharing stories of triumph that are very encouraging to others. At a bare minimum, it makes franchisees not feel like they’re alone in this, and on the other end, they can walk away with very useful business practices and ideas. There are stories of heroism, stories of mission, stories of helping people — all happening now that we will live with forever. And I can't wait to hear more about them, because while it feels really

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hard right now, and there is pain and suffering in many places, there is also some feelgood that is happening too.

Q. HOW IS FRANCHISE

DEVELOPMENT GOING?

A. There was a brief moment

where the leads fell off. But surprisingly it was a really short period of time. Our most recent results are significantly higher than anything we've had in the last year. People have more time to get curious about what they want to look into. And then there’s a group of people who suddenly found themselves unemployed. They want to learn more about their “what’s next” and want more control over that. We have people in the pipeline who are in “wait and watch” mode, but others who understand that now's the time to get in motion. From our view, this is the time to get trained and get your ducks in a row. Because when the recovery starts to happen, you want to be ready to go, especially in the work that we're doing in senior care. The recovery is going to be a little

bit quicker because we know people still need our help and the demand will increase fast.

Q. DOES BEST LIFE

BRANDS OFFER MANY HOME EQUITY LOANS SINCE SBA AND 401KS ARE KIND OF ON THE OUT AT THE MOMENT?

A. We certainly have an

advantage because of a lower investment; more people have the available capital to be able to look into our brands. 401k conversions are still happening and with the market recovery, that's a better possibility today than four months ago. People are feeling better about cashing out or making that conversion now. However, there are people who do rely on SBA loans, so we'll see those spike

once the SBA process gets unclogged.

Q. ANY ADDITIONAL

ADVICE, PREDICTIONS, INSIGHTS, SUGGESTIONS?

A. You know, I liken this

situation to having been around very competitive marketplaces in the past. When a competitor opens up and our franchisee calls the franchise support center and asks, “I have competition up the street; what do I do?” The answer is, “Well, what you should have been doing is taking care of the customer. What you should have been doing is marketing. You can start doing that now too, but it may be too late.” It's the same thing with this situation. Of course, none of us can plan for

a pandemic. But a lot of the good business practices that should have been in place can benefit businesses today. I learned a good lesson as I was growing up at GNC. We knew how to run a vitamin store. But, we also had to teach people how to run a business, including to have reserve funds and be flexible. And so good franchisors already had their franchisees somewhat prepared by running an agile business. For more information on franchise opportunities with Best Life Brands, please visit www.bestlifebrands.com. ABOUT THE AUTHOR CEO, J.J. Sorrenti has led multiple companies to award-winning results over the past 25 years and sits on the board of trustees for the IFA Education Foundation.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

THE NUMBER OF PEOPLE IN AMERICA AGED 65 AND OLDER WILL HIT 70 MILLION BY 2020 Now is the best time to start a business in this $300 billion dollar industry.

From personal care to privateduty nursing, ComForCare’s mission is to help provide a safe environment for seniors who are aging in place, allowing them the grace, dignity, and pride they deserve. ComForCare is known throughout the industry for developing specialized senior care programs including Alzheimer’s care.

CarePatrol is the nation’s largest senior placement organization. We take the pressure off families to help them find safer care options including assisted living, independent living, memory care, in-home care and nursing homes. Our senior advisors personally meet with families and serve as their guide -free of charge.

Estate sales often manifest when people find themselves at a crossroads in their lives. They may be downsizing upon retirement, dealing with the death of a loved one, or moving to assisted living. We provide an organized and professional way to sell their personal estate.

Visit us at BestLifeBrands.com to learn about each of these unique franchise opportunities in the senior care space.

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Own a Creative, Dynamic Business in the $100 Billion Flooring Industry INDUSTRY TOTAL INVESTMENT: $180K-$200K Mobile Flooring Showroom We bring the showroom to the customer and bring her an experience the Amazon Way – where she wants it, when she wants it; IN HER HOME, with her own lighting and home décor.

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SENIOR CARE

MAKE A LIVING? DESIGN A LIFE. by Faizun Kamal, Consultant, The Franchise Consulting Company

What kind of life do It’s a question I ask every client who wants

to buy a franchise. In fact, it’s one of the very first questions I ask. Their answers, I find, are telling. Most people drawing a blank, stumble over their words. Others get very quiet, uncomfortable. Only a few answer thoughtfully, with intention and purpose. Joshua Becker said, “The first step in crafting a life you want is to get rid of everything you don’t.” Most of us for over most of our careers have been running on the hamster wheel - of the corporate world, the bigger house, faster car, expensive vacations. Living in a culture that extols the virtues of bigger, larger, and more, our lives have become an endless, exhausting race to nowhere. Material aspirations are inherently not bad. Material aspirations, without a clear vision of what we want from our lives, however, turns us into hollow shells. In 2015, I found myself laid off. After years of doing work that did not fulfill me, I vowed to never do that again. Not knowing what the next step of my life would look like, I asked myself the very

question I now ask all my clients: “What kind of life do I actually want?”. The answer that came back was stunning in its simplicity. I wanted to live a life where I used my skills to serve a purpose larger than myself, to earn a great income to support my family, and to have time freedom to do what I wished with them. That’s it. Viscerally, my answer filled me with pure joy. Once I became ruthlessly clear on what I stood for, I proceeded to say “no” to everything that did not support the kind of life I wanted to design. As I began designing my life, these three non-negotiables became the anchors that kept me grounded to my true north. In order for my life to be how I wanted it to be, it had to have the following.

1. Escape the 9-5.

My husband and I have one daughter. The biggest regret of my life is that I almost completely missed the first year of her life. Other than pictures and home videos we took on our phones, I have almost no memory of that year. Working 80 hour weeks and always being on call, I was

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simply not there. Looking back on that time now, I can’t even remember what I was so busy with. Running on the corporate hamster wheel for years meant I missed out on a lot over the years. My time was never my own. In the next iteration of my life and career, I was determined to build whatever came next around her and my family. Not the other way around. When our internal purpose aligns with the external world that we have created for ourselves, we are filled with a joy that is like nothing else! Interestingly, as I have now discovered, that joy then spreads and permeates to every other aspect of our lives as well!

2. Generate wealth. What are you worth? What is your time worth?

As employees, we are involved in a daily transaction. In exchange for our time and talents, our employers give us a paycheck. Unfortunately, being an employee these days means that our time is no longer ours. Even on weekends and nights, we are expected

to be “online” and ready to respond to every email. Are you compensated enough not just for your physical time in the office but also when you’re at home, with your family, on vacations (if you can actually take the time off)? What is the cost of missing out on a

3. Live life on my terms.

baseball game, or a recital, or just simply being with your family? Can you put a number on that? Ultimately, true wealth for me wasn’t a specific dollar amount in the bank. True wealth meant time freedom. To spend my time doing work I love and spending time with my loved ones. There is a mysterious, magical alignment that happens when we finally spend our moments doing work that aligns with what we really want… which brings me to my last and final non-negotiable.

lifestyle I want. I set my hours and work around family responsibilities and obligations. As long as I have my laptop and phone, I can work from anywhere in the world – and I have! I only work with the people I want to work with. I wake up every morning excited and grateful for another day to provide value to others and do work that I love! Only by being brutally honest and intentional was I able to create the life that I now live, on my own terms.

As a franchise coach, I now own my own business. I am finally doing work that is my calling. I utilize my strengths and gifts every day in the service of my clients. My work has allowed me to create the

WHAT IS YOUR WHY? I don’t just help my clients find their “perfect fit” franchise; I help them move from career burnout to career love! I have worked with countless clients, who just like me, were seeking something for which they did not have a name. They were hungering for

o you actually want? more purpose, more security, more time, more joy, more life. Every client is searching for a way to create a career that they love. This, in turn, helps them create a life that they love. • Are there moments in your life when you feel unfulfilled? • Do you feel as though you are caught in a life that no longer fits who you are? • Do you look at where you are and wonder how you got there? If you have answered yes to these questions, you are not alone. I was all too familiar with these feelings myself. Everyone of my clients lived with these feelings until they decided they could no longer go on just making a living. If you are ready to design your life, let’s begin. What kind of life do you actually want? ABOUT THE AUTHOR Faizun Kamal is a nationally renowned public speaker, best-selling author and sought-after franchise coach. Her best selling book, “The Right Franchise for You: Escape the 9 to 5, Generate Wealth, & Live Life on Your Terms”, is the guide that thousands of clients have used to find their “perfect fit” franchise! Contact Faizun at 443-604-6276 or at faizun@ thefranchiseconsultingcompany.com.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

THE STAFFING INDUSTRY IS BOOMING. There has never been a better time to join Express Employment Professionals! The global staffing industry exceeded $500 billion in 2019. • Express franchisees have average annual sales per territory of over $6 million in the U.S.* • Express franchises employed more than 552,000 people in the last year.

CONSIDER THIS • Express was named the #1 staffing franchise for nine consecutive years by Entrepreneur magazine. • Express earned a 99% rating from franchisees on the quality of the Express franchise system. • 92% of current franchise owners would recommend the Express system to prospective franchisees.

WHAT’S THE INVESTMENT? Express offers two paths to ownership: • Traditional Model – Requires an investment of $150,000 to $174,000 and an active role in new business development by the franchise owner. • Professional Market Model – Requires an investment of $200,000 to $224,000 and applies to pre-designated territories with a high propensity for professional staffing. The minimum net worth required for an Express franchise is $250,000. Funding from a combination of cash in bank accounts, stocks, bonds, vested 401(k), IRA, home equity, or a line of credit is acceptable. Express funds payroll for temporary employees.

2011 – 2020

Express Employment Professionals Item 19 demonstrates an exceptionally strong ROI. • The average new owner generates annual revenue of $1,027,786 by their 12th month of operation and $2,040,268 by their 24th month. • Mature offices average over $6 million in annual sales, with an annual gross margin over $1 million. • Express franchisees paid an effective royalty of just 8.6% in 2019. *All figures are demonstrated within Item 19 in the Express Franchise Disclosure Document.

Ideal Candidate Our executive business model is perfect for people who:

Franchisee Benefits •

Industry Disruptor

•

Ideal Work-Life Balance

•

Quality Products

•

Mobile Business

•

Can lead, hire and inspire a team

•

Have strong soft skills and enjoy networking

•

Low Overhead

•

Training & Support

Have business acumen

•

Established Brand

•

OUR FRANCHISE LOCATIONS

ARE OPEN FOR BUSINESS! www.opportunities.flooring-franchise.com

COVID-19 GUIDANCE

FASTSIGNS Finds Success in Expansion Despite the Pandemic

OVID-19 has changed the business landscape across essentially every industry. Over the past several months of constant shifts, one thing that has remained consistent is the increased demand for communication. From visual communications for customers to storefront signage and more, sign shops have been the primary resource for businesses across the globe. With a proven business model, international brand recognition, and unparalleled training and support, FASTSIGNS International, Inc. has remained on the cutting-edge of its industry, and through these unprecedented times the support of its franchise system has helped its franchisees stay afloat. “Franchisees benefit from our diverse product range and have been able to serve the unique needs of their customers during the changing climate through various innovative avenues,” said Mark Jameson, EVP of Franchise Support and Development of FASTSIGNS International, Inc. “We’re here to help our franchisees pivot and adapt their services every step of the way. As long as there are

businesses and organizations needing signage, graphics, and visual communications, FASTSIGNS can be there to fulfill that need.” While several businesses temporarily closed their doors amidst the pandemic, FASTSIGNS remained opened as centers were deemed an essential business. Operating to provide signs, graphics and visual communication, the brand continues to do their part to communicate state and local mandates for their customers. Franchisees across the United States asserted their innovative ideas as they pivoted local store services to best accommodate their customers.

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Aside from the directional signage relating to the social distancing and preventative steps, franchisees were developing face shields, safety shields, intubation boxes and more to aid local hospitals coping with the PPE shortage. Today, FASTSIGNS centers around the world are spearheading the communication and signage needs for restaurants, retail and business spaces as they reopen with new safety guidelines in place. Despite the impact that COVID-19 has had on most businesses, since March, FASTSIGNS has signed 12 franchise agreements in the

U.S., 1 in Canada, and opened 16 new U.S. locations. The brand continues to accelerate growth in new markets and remains innovative as it prioritizes franchisee support systemwide. Kevin Leamon signed a franchise agreement with FASTSIGNS in March 2020, and in July 2020 celebrated the grand opening of his center in Springfield, IL. He said, “I signed a franchise agreement with FASTSIGNS earlier this year right as COVID-19 swiftly took over. Looking back, I feel incredibly lucky to have had my new business up and running in just four months during such a challenging period. As a first-time franchisee, the support and guidance that FASTSIGNS offered as I navigated this new endeavor helped the entire process run smoothly. Along the way, I had the opportunity to tap into the impressive network of existing franchisees to discuss how they

were adapting throughout the pandemic, and learned so many invaluable tools that I could incorporate into my center. It was motivating to hear how FASTSIGNS centers could quickly pivot to meet the needs of current events and further position themselves as the expert in the signs industry. I’m thrilled to be part of this dynamic brand.” FASTSIGNS is consistently ranked as a top franchise opportunity. In 2020, Entrepreneur magazine named FASTSIGNS the #1 franchise opportunity in its category and #55 overall on its annual Franchise 500® list, making it the only sign, graphics, and visual communications franchise to be recognized in the top 100. Additionally, Franchise Gator named FASTSIGNS to its Top 100 Franchises of 2020 list. In 2019, Entrepreneur named FASTSIGNS one of the Top Franchises for Veterans and

the brand also was recognized in Franchise Business Review’s Top Franchises for Veterans report, was named to the America’s Best Franchises to Buy list by Forbes magazine, and made Franchise Direct’s list of the Top 100 Franchises. Franchise Business Review also has recognized FASTSIGNS as one of the “Best of the Best” for franchisee satisfaction for the last 10 years and its Top 50 Franchises for Women and Top Service Franchises lists in 2019. Today, FASTSIGNS has more than 725 independently owned and operated FASTSIGNS® centers in 9 countries. For prospect franchisees looking to be part of the brand, FASTSIGNS offers a special incentive for first responders, including paramedics, emergency medical technicians, police officers, sheriffs, and firefighters, which includes a 50 percent reduction on the franchise fee — a savings of $24,875. MORE INFORMATION For information about the FASTSIGNS franchise opportunity, contact Mark Jameson at mark.jameson@fastsigns. com or at 214-346-5679.

WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

Ranked #1 Again! 4 YEARS IN A ROW!

• Monday to Friday, Business-to-Business Hours • Low Staffing Requirements • Professional Business Clientele • Attractive Margins • 50% Off the Franchise Fee for Veterans and First Responders

“I was surprised at the daily support we have with the corporate office and other franchise owners in the system that are truly there for my wife and I. I know I can call or text any time with simple and complex questions.” Steve & Renae Adrian Forest-Lynchburg, Va

FOR MORE INFORMATION ON FASTSIGNS:

214-346-5679 | mark.jameson@fastsigns.com | www.fastsigns.com

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BUILD YOUR OWN LEGACY ✓Senior-Focused Care ✓Multiple Streams of Revenue ✓Training and Support Join an Award-Winning Franchise in a Multi-Billion Dollar Industry. Call 888.502.6310 or visit www.aplaceathomefranchise.com ww to learn more.

A Place At Home’s Guarantee: Commit 100% to CARE Track and you will service a client in the first 90 days post launch or we will waive your first 6 months of royalties.

EDUCATION

Little Medical School is Recognized as Innovator of Youth Health Education by Rhonda Sanderson, CEO, Sanderson & Associates

Dr. Mary Mason’s deep love of family, medicine and education led her to a career in healthcare and success as an entrepreneur. As the founder of Little Medical School (LMS), Dr. Mason’s company is celebrating its 10th anniversary with approximately 50 franchises in the United States and abroad. It all began with a quest to inspire young adults to pursue careers in medicine. A standard franchise is home or office based with protected territories of 100 elementary schools. Franchise Fees of $24,500 and an Equipment & Curriculum fee of $13, 100, make this fun concept ultra-reasonable. In 1998, Dr. Mason wrote the first lesson plan and

enlisted her medical school colleagues to teach local teenagers. This passion for encouraging careers in healthcare culminated in the creation of LMS in 2010. Today, the company is a pioneer and leading developer of award-winning, specialized curriculum and interactive resources for children 4-14. With corporate offices in St. Louis, all of its franchises are independently owned by those who share a common goal of inspiring health awareness through education — one student at a time. The Little Medical School

curriculum has grown to include a wide variety of educational programs, including but not limited to personal health, safety, life-saving skills, nutrition, dental care, veterinarian, and wilderness medicine. Whether after-school/summer programming, birthday parties, in-school field trips, scout badge fulfillment or special events – lessons can be customized. In addition, LMS offers a variety of educational role-play kits, including: How To Be A Pediatrician, Sports Surgeon, Veterinarian — and even a Great Sibling.

LMS is committed to educational programming that creates an environment where students are able to learn, explore and enjoy while building self-confidence. 102

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LMS is committed to educational programming that creates an environment where students are able to learn, explore and enjoy while building selfconfidence. Through innovative programming, fun activities, and structured role-play â&#x20AC;&#x201C; students often use realistic medical supplies and interactive utensils while dressed in white lab coats â&#x20AC;&#x201C; to create a unique, entertaining, and engaging learning experience. Lessons provide

MS believes this role-play and hands-on experience can play a vital role in helping students to shape their attitudes towards personal health, well-being, and career options. students the opportunity to explore the many functions of the human body, learn life-saving skills, and perform orthopedic procedures such as

a realistic Tommy John Surgery. LMS believes this role-play and hands-on experience can play a vital role in helping students to shape their attitudes towards personal health, well-being, and career options. Little Medical School is a strong advocate of STEM based curriculum (Science, Technology, Engineering and Math) to provide students with a strong foundation as they consider future careers, including healthcare. Whether utilizing Science to understand anatomy, Technology to better utilize patient information, Engineering to develop

solutions to complex medical issues, Math to calculate the proper dose of medication. LMS believes health and STEM are inseparable. Little Medical School has been nationally recognized by business, parent, and educational organizations: Entrepreneur Magazine (Top 500 Franchises for 2019), Creative Child Magazine (2017 Product of the Year), 2017 National Parenting Product Awards and 2018 Stevie Award Winner for Women in Business. For more information about a franchise, please contact Leslie Manes at Lmanes@sfdpros.net.

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/ WWW.FRANCHISEJOURNAL.COM | SEPTEMBER 2020

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SENIOR CARE

THE SENIOR CLUB by Julie Kreider, Consultant, The Franchise Consulting Company

arly one morning last summer, I was alarmingly awakened by the stern voice of my father yelling urgently for my help. That moment changed everything about my life. Mom had fallen and suffered a broken hip. I’m glad I was naive enough at the time to not know exactly how many things were about to change. All of those forgotten conversations with loved ones about this exact moment suddenly started to spin back into my memory. The difficult

reality was confirmed as I called up one of my oldest friends for support, and with empathetic humor, she said “Welcome to the club!” Caring for aging loved ones is likely something you are already doing, a step you will soon take or a task you have already completed. By 2030, baby boomers will all be 65 or older. 5.7 million Americans suffer from some sort of impairment. And loneliness increases a mild cognitive impairment by 105%. Our plan to place our parents

in a senior facility for short-term or permanent placement with the promise to visit every day may no longer be the best solution. “The status quo has shifted,” according to Claudine Helpern, CEO of My Elder. Seniors typically wish to age in place. Discussing this process with your loved ones can be extremely difficult. You are going to need help. The more you plan ahead, understand what to expect, and accept help from senior care experts, the less painful the process will be. Oasis Senior Advisors Franchise Owner Ben Meyers says placement is becoming “necessity based”. According to the CDC, one in four Americans experience a fall each year. Every 11 seconds, an older adult is treated in the emergency room for a fall; every 19 minutes, an older person dies as a result of a fall. But the thing about falling is, with proper planning, it can be prevented. The keyword here is prevention.

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BY 2050,

IT IS ESTIMATED THAT 88 MILLION SENIOR CITIZENS WILL REPRESENT 20% OF OUR TOTAL POPULATION IN THE US. The hardest questions for people are: what do I do and when do I do it? “Five years before you will need it”, according to Pittsburgh Local Visiting Angels Franchisee Val Candee. The process is far from simple and assessing the situation financially is often alarming. Transfers of assets, legal issues, home safety, care planning, hygiene and continued quality of life for our loved ones all complicate this event. There are 12,000 home health care agencies in the US providing a wide range of services: home readiness, temporary rehab, permanent placement, companion care, non-medical care, and licensed home nursing care, to name a few. Patient advocacy is

growing leaps and bounds. The rules and regulations vary by state. Advocacy consultations and care assessments are a necessary step in your situation. Building the awareness and utilizing these agencies can often smooth the bumpy path. As baby boomers continue to age, the demand will continue to exceed the supply of such care services. 10,000 people turn 65 every day. By 2050, It is estimated that a staggering 88 million senior citizens will represent 20% of our total population in the US. And what’s even more mind boggling is the fact that the millennial population exceeds the baby boomer population by at least 1 million Modern

medicine has allowed life expectancies to rise. The current life expectancy is 78.6 years. Senior care and it’s many related services cast a wide web. With more than 50 different companies that are franchised, this space is gaining the attention of many displaced, refocused or dissatisfied corporate executives. This field is also very attractive to couples looking for a business together: many choosing this path after experiencing the senior years with their own parents. The franchise models vary in distinction by the services that are offered and the streams of revenue. The commonality is the lower investment to get

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YOUR GREATEST RETURN ON INVESTMENT IS THE FEELING OF EASING THE PAIN OF THIS TRANSITION AND BRINGING DIGNITY AND PEACE TO THE LIVES OF THOSE IN NEED. started. Entering into this field of work allows you to start your business from home and work for yourself. It allows you to help thousands of people by something that truly matters. This field is immune to the threatening powers of looming recessions and the Amazon monopoly. The potential to scale this business and make money is solid. You are the

secret ingredient. Your time investment also varies greatly. The biggest reason to use a “franchise system” is the systems are already in place. The state rules and regulations in this sector also vary greatly. Private pay, Medicare/Medical, Veterans grants, long-term care insurance policies are all part of your billing. Qualifying your staff with the needs of

a client per state regulations is information the franchisor has already figured out. Other assets are forward thinking, ongoing support, combined marketing efforts, staffing support and a group of peers for consultations. A franchise is always many steps ahead anticipating the future needs of the franchisees. Their success as a franchised business is dependent upon your personal successes. If you are rethinking the next phases of your life — if you want a self-fulfilling career path — if you are empathetic and enjoy enhancing the lives of others — why not take a peek at the senior care space and all the different factors and revenue streams? The membership to the club is free. The dues are love. And while this industry can surely reward you financially, your greatest return on investment is the feeling of easing the pain of this transition and bringing dignity and peace to the lives of those in need. ABOUT THE AUTHOR Julie Kreider is a Consultant with The Franchise Consulting Company residing in Pittsburgh, PA. Contact Julie at 540-645-0915 or at Julie@ thefranchiseconsultingcompany.com.

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EXPERT ADVICE

Franchise Ownership Models

by Mark Schnurman, Consultant, The Franchise Consulting Company

uying a franchise is a proven way to launch a business. Leading franchises offer a proven business model, training, support, repeatable processes and systems and a network of other franchisees who will share best practices. But the best business systems and support in the world will not help you succeed if you choose the wrong ownership model. There are three basic franchise ownership models, each with its own set of pros and cons. They vary significantly with respect to franchisee role, time commitment, management structure, financials and scalability. The different models are: • Owner-operator • Semi-absentee owner • Executive owner The stark differences between the models is why it is crucial for prospective franchisees to be razor focused on their personal, professional and financial goals and objectives. Before discussing the models indepth it is important to understand the tradeoff between time, money and return. All else being equal the greater a franchisee’s time and financial commitment the greater their return and the broader the array of franchise options. However, without a strong commitment of either time or money your potential as a franchisee may be limited. With that as the lens, let’s take a more indepth look at the different models.

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OWNER-OPERATOR: The owneroperator is a great option for people who are looking for a quick career change and want to be responsible for day-to-day operations. Owner-operators exert control over all day to day aspects of the business and are directly involved with the delivery of the product or service. Typically, the owner operator model has a lower initial investment, low overhead and is home-based. Owner-operators often work long hours because they are involved in every aspect of the business. Owner-operators need to leave their current jobs and work in the franchise full-time. In terms of growth opportunity, the owner-operator is limited in its scalability because the franchisee is so integral in every aspect of the business that it is hard for them to grow it. Detail oriented people who like to be involved in every aspect of a business do well as owner-operators.

SEMI-ABSENTEE: Semi-absentee ownership is ideal for people who want to keep their current role and add additional income streams and build equity. Semiabsentee ownership typically requires between 10-15 hours per week and hiring staff for the day-to-day operations. Generally, the franchisee will spend more time prior to launch finding real estate, hiring staff and launching the marketing effort. Once the manager is trained, the franchisee can begin to spend less time in the business, but should put systems in place to ensure high performance. The franchiseeâ&#x20AC;&#x2122;s focus is on strategy, financials and leading the managers. Semi-absentee owners must have strong management and people skills. Semi-absentee owners can scale because these business grow through a combination of investment dollars and strong management. Semi-absentee franchises can be tricky because most businesses would benefit from full-time owner involvement initially. In fact, in my experience the vast majority of franchises can be run as semiabsentee once they are established but very few can begin that way. Choose wisely.

EXECUTIVE: This is the model for someone who is seeking an investment opportunity, a minimal time investment and/ or wants to scale aggressively. Executive franchisees essentially no involvement in the franchises day-to-day so they are able to maintain their current roles as they hire for all functions required to operate including day-today management. Executive franchisees generally focus on high-level issues such as financials, marketing strategy and staffing levels. Obviously, this results in higher operational expenses. Like the semi-absentee model this is highly scale through additional money and management and are a great method to build wealth. Hiring the right individuals to run the business is critical to success as an executive owner.

As you can see, the different franchise ownership models have different attributes and do not make sense for everyone. As a franchise consultant I help people identify which model provides them the best opportunity to maximize success. Let me help you identify the right model and the 3-5 franchises that match your goals and market. This is so important for your success. Franchisors also carefully consider how well-matched potential franchisees are to the ownership model and only award franchises to those with the best fit.

ABOUT THE AUTHOR Mark Schnurman is a leading Franchise Consultant with a nationwide practice. To learn more, please contact him at 973.452.4558 or at marks@thefranchiseconsultingcompany.com.

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SENIOR CARE

ARE YOU PREPARED? Five Important Lessons by Phyllis Pieri CFE, Consultant, The Franchise Consulting Company

t’s a Saturday afternoon and the phone rings. On the other line is a friend from my old church in WA telling me that my dear friend was in the hospital in ICU. This was a sudden situation, not something people saw coming. She had prepared well however dementia had set in a couple of years ago and she had lots of tasks she started to do and didn’t complete. My friend proceeded to ask me the question, “Would you be willing to be her Power of Attorney?” The person that my friend had designated chose was not able. I can honestly tell you this came out of left field to me. I am now living in CA and my friend is in WA. Geography alone was going to

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make this decision challenging. However, I also knew my friend didn’t have any children or living family. After some thoughtful prayer and talking to my daughter whom still lives in WA, I said yes. I can truthfully tell you I had no idea what I was getting myself into. I needed to have a POA (Power of Attorney) so I could find out how my friend was doing at the hospital, nursing home and the ability to contact the insurance companies involved. I was very grateful that the hospital was able to provide the documents that I need to have notarized so I could help my friend.

LESSON ONE Make sure your POA is still interested in the duty as time goes by. The first important decision was trying to figure out where my friend would live. It was determined that she would no longer be able to live alone, she needed assistance with all of her daily actives. I felt very blessed for her because she had long term care insurance. I contacted my client who I placed in the franchise, Oasis Senior Advisors. When I first learned about this company I thought of my client Rob because he was financially

SEPTEMBER 2020 | WWW.FRANCHISEJOURNAL.COM

savvy, detail oriented, had the type of kind, confident demeanor that I knew would make families feel safe. What I didn’t know at the time was that it would come full circle and I would require his services. Trying to find the right place for a loved one is a big responsibility and filled with lots of factors that need to be considered: • What kind of help does your loved one need? • What kind of insurance does your loved one have? • How much will the insurance cover each day? • How long will that coverage last? Yikes, where do I find these documents? Due to the status of current HIPPA laws, you are unable to just call the insurance company and ask them the amount of coverage. Fortunately, we finally found the information we needed. Like most seniors, my friend wanted to go home and it was hard for her to understand this was not an option. However, that is why companion care franchises like A Place at Home, Senior Helpers, Synergy and so many more are such a vital franchise models.

LESSON TWO Make sure you have your documents organized and easy to find. (Please note, when you discover a loved one who is clearly showing signs of impairment or deterioration, try to help them get their affairs in order.) A month or so after my friend moved into this lovely group home and she is very pleased. She felt safe, cared for and has reconciled herself to her new reality. On my second trip to see her, she decided to sell her car, she said, “I guess I won’t be driving anymore.” In today’s

world with companies like CarMax, that is a pretty simple task. You can drive in with the car and leave with a check and fair value.

LESSON THREE Check out CarMax, simple and fast. Estate Sales. What do you do with all the “stuff” in someone’s home? You have an estate sale. Yikes, who should I call? There is a new franchise called Blue Moon Estates and I sure wish they had a franchise owner in WA right now. They would have taken care of it for me.

LESSON FOUR Sort things in groups and categories to make it easier to have any type of sale.

LESSON FIVE Selling the house – they now have companies like Curbio,Inc. that I will be using that will come in and give you a bid on fixing up the house. They will do the work and take the cost out of escrow so you don’t have to fund it before the sale. I hope that you have found this article helpful. End of life choices are very difficult at best. I am so grateful that the franchise industry has developed business models in so many areas where there is a need, they have designed a solution for you. ABOUT THE AUTHOR

TRYING TO FIND THE RIGHT PLACE FOR A LOVED ONE IS A BIG RESPONSIBILITY AND FILLED WITH LOTS OF FACTORS THAT NEED TO BE CONSIDERED.

Phyllis Pieri CFE uses her passion for people and her 35+ years in the franchise industry to guide fledgling entrepreneurs through the franchise selection process. In her franchise career, Phyllis has done it all, including working for franchisors, consulting with franchisees, and owning franchises herself. Contact Phyllis at 425-922-4126 or at phyllis@ thefranchiseconsultingcompany.com.

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