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What Is Franchising? {A 13 year old's perception}
1. THE FRANCHISE KING He’ll fix your royal pains from working for someone else!
2. What exactly is a franchise? A franchise is a business that a person owns which allows them to be their own boss, and to sell or promote their products or services using the franchisor’s system.
3. Why are franchises helpful? Franchises are helpful because they allow you to be your own boss, and eliminate the pressure of working under a more successful person than you. They make you feel good, and powerful, that you opened your own business, and that you won’t get fired, because you are your own boss. The last way that franchises are helpful is that they help other people get a job, and you can empower them to maybe make the same decision that you did someday.
4. What’s the catch? Speaking realistically, there isn't really any catch. The only catch is more responsibility for you as a boss, which needs to be taken to mind even before you think about buying your own franchise. Since you don’t have a company to watch over you anymore, you need to be 100 percent ready for the challenge of running your own business. Owning a franchise can be wonderful, but the first few months can be very difficult. You just have to remember why you did this and stay strong.
5. Is a franchise for you? A franchise is for a person that needs some relief from a hectic job in the past. A franchise allows you to have more freedom, and to relieve some stress that comes from not being the most powerful employee in a large, competitive company. If you are a creative person that needs to put your talent into something more useful, then franchising may not be the option for you. Because you can’t break the rules when you own your own company, your creativity may be limited in this type of job.
6. Three questions to ask an expert 1. How much money will I be making when I start my franchise? Most likely, your expert will tell you it all depends on the franchise you select. 2. How much money will I need to invest in this? All people need to know this, but sometimes your expert wont know the exact amount. 3. Will I be able to chose my hours and employees? Many people don’t know the exact guidelines to owning a franchise, but that’s what your expert is there for, so ask away!! *Remember!* More questions may come up during your visit, but these 3 questions are the ones that are crucial to ask when buying a franchise.
7. Steps to making your dream come true Figure out if a franchise is the right decision for you. Research. See what cool franchises are out there. Talk with an expert. They’ll help you make the right choice. Pick your franchise. Meet with a franchise attorney. Get a loan and sign the contract. Go to Headquarters and learn about your franchise. Find a location and do the build out (fix any problems, etc.) Hire employees, get supplies, etc. Open for business!!!
8. Franchises out there McDonalds, Papa Johns Pizza, and Burger King are all examples of ordinary franchises. Ones we don’t often hear about are Maid Brigade, Mr. Handyman, and Just-A-Buck. Maid Brigade is a residential cleaning service. Mr. Handyman is a business that repairs small imperfections in your home or business. Just- A- Buck is a dollar- store franchise, but it is really clean and sharp inside.
10. Thanks! Ask me, the Franchise King, about any of your questions, concerns, or if you just want to talk to royalty! Thanks for watching! I hope to hear from you soon! Best wishes, The Franchise King 216.831.2610
