It’s no surprise that things are just bigger (and many would say better) in Texas!  It’s hard to argue with the state’s booming economy in contrast to the rest of the nation.  Did you know Texas is the 15^th largest economy in the world?  In 2011 Forbes announced their ranking of best states for business and listed Texas number 1 in both “Economic Climate Rank” and “Growth Prospects Rank” and number 6 in overall score.

The strong Texas economy is just one reason why so many people open a franchise in Texas.  New business owners are opening franchises in record numbers because they realize it’s much easier than starting a business from scratch or purchasing an existing business and not knowing what surprises may lurk in the dark.

If you are thinking of owning a business in Texas, here are 5 BIG reasons to own a franchise.

1. The Value of The Brand:  With a franchise you have the benefit of a growing brand.  The more locations that open, the stronger the franchise name should become.  This will increase market awareness and drive additional sales.  Also a growing brand should increase the value of Texas franchises for sale when it comes time to sell

2. Proven Systems:  With a franchise there is no need to reinvent the wheel.  When starting a small business the last thing you want to spend time on is figuring out how the business should be run and trying to implement the technology and processes required.  With a franchise, systems such as sales, marketing, operations, administration, technology and many more methods have already been figured out and proved over and over to be successful by the franchise company.

3. Leadership and Experience: A great franchise will be run by an executive team with a proven track record of success.  They will know the industry, the competition, will be on top of evolving trends and have the time for strategy and planning.  An independent business owner will be hard pressed to perform all these functions if at all and if they don’t, they run the risk of being blindsided.

4. Training and Support:  In a franchise business you are not in business by yourself.  A franchise company will keep you up to date by training you to consistently be successful.  They also will provide back up support for you and your employees so you can keep your eye on the ball and continue to grow the business.

5. Exit Valuation: Franchises can command a higher price when the time comes to sell the business.  A franchise for sale can have a higher sales multiple based upon the strength of the brand and supporting systems that have been proven again and again.  In essence, all of the benefits described above should have a very positive impact on the sales valuation of the business.  As an owner, it is exciting to know that every time another franchise like yours opens there is a strong probability the value of your franchise just increased!

Take Texas size step toward becoming a business owner.

Many people come to realize the benefits of owning a franchise opportunity but don’t know where or how to begin.  They may go online and quickly get overwhelmed with the many choices and not being able to tell one from another.  They can read about different franchises online but it’s a high level overview, so in frustration many just give up.  Don’t let uncertainty stop you from realizing your dream of owning a business.  With the help of a highly qualified franchise consultant you will be able to determine which of the many franchises are right for you and how to go through the due diligence process.

For more information on the benefits of franchise ownership and how we can help your search Contact us. There is no cost or obligation for our service.

Many specifically choose a franchise because of the proven systems and successful track record.  A key component of a franchise is that the business model can be repeated over and over again by people who have vastly different backgrounds.

If you are tired of working for someone else, here are 7 great reasons to own a franchise.

1. You Are The Boss:  You are in control of your future.  Your focus is on growing your Franchise Business and making more sales.  No more wondering if you will even have a job.  You feel in charge of your destiny
2. Build Wealth:  In a corporate job you make what someone else thinks you are worth.  With your own business you determine how much you make.  Instead of making a wage as a franchise owner you are building equity as the value of your franchise increases over time.
3. Less Risk:  Opening Your Own Business can be much less risky than trying to hold down a corporate job that is subject to many forces beyond your control.  Good franchises have successful track records with training and support and systems that have been replicated and proven over and over.
4. Comorodary:  In a franchise business you have the support of the franchise company (the franchisor) but also others who have invested in the same franchise.  You are surrounded by positive people who all want you to succeed.
5. Our Country Needs You; The United States is built on small businesses and franchising is a very big component.  Do you know that a new franchise business is opening every 8 minutes?  As a franchise owner you be part of the economic foundation that has made our country great.
6. It’s Fun and Rewarding:  Instead of working for a living, you are doing what you really like and helping others through the services you provide.  You are able to give back to your community which is extremely satisfying.
7. Tax Benefits:  With your own business you may be able to write off certain expenses where in a corporate job employees must use after-tax dollars.

Taking the next step.

Many people come to realize the benefits of opening a franchise business but don’t know how to go about it.  They may go online and quickly get overwhelmed with the many choices.  They don’t know much if anything about all the franchise companies so just stop looking.  Don’t let uncertainty stop you from reaching your dream!  With the help of a highly qualified franchise consultant you will be able to determine which of the many franchises are right for you and how to go through the due diligence process.

For more information on the benefits of franchise ownership and how we can help your search Contact us. There is no cost or obligation for our service.

The reality is, most people considering business ownership do not spend enough time evaluating themselves and what they want to get out of a business.  As a result, they never buy a business or buy the wrong one!

So why don’t prospective business owners take the time to think this through?  Because self-discovery can be a difficult process!  It can be hard for some people to be really honest with themselves.  Also, they may have never owned a business or one like they have in mind, so they just don’t know what qualifications are required.  Below are insights from an expert business consultant to help you determine if you have the personality necessary to be successful.

7 warning signs you are probably not cut out to own a business or franchise.

1. You are a “know it all” and “you are always right”. Related to this, your management style is “my way or the highway”!
2. You are not self-motivated.  You rely too heavily on others for direction and support.  Successful business owners are propelled by the thrill of growing their business and are impatient to make things happen.
3. You are gullible or impulsive.  You have seen the ads or Infomercials with a lovely couple leaning on their Ferrari in front of their mansion and when they flashed their income checks you started thinking about the type of yacht you are going to buy!
4. You think you will be successful because you are a “people person – you like people” or “you will do whatever it takes to be successful”.  These are great attributes, but not enough to motivate you if you are in the wrong business and one you end up hating.
5. You don’t know what else to do.  You can’t find a job and owning a New Franchise seems like the answer.  You need to understand the end game; what do you envision your life to be like as a business owner and do you understand the steps to get there?
6. You don’t have the total support from your spouse or partner.  To ignore the wishes of your loved ones is a crucial mistake.
7. You can’t stand a loss of income either monetarily or psychologically.  Buying a Business invariably ends up costing more than anticipated whether to “Murphy’s Law” or the realization you need to spend more on personnel or advertising in order to grow the business.  Watch out if you are considering running your business on a shoestring if the thought of losing any money, even temporarily, scares you to death.

To make sure you have what it takes to own a business, take the next step.

For these reasons, it is very important that a qualified Business Consultant be used that really understands small business and franchising.  Think of this consultant as a trusted adviser who will help potential business owners look inward to determine what they want to get out of a business at many levels.  People use a real estate agent to purchase a home.  So why wouldn’t someone use an adviser to help guide them through what may be one of the most significant investment and life changing decisions they will ever make?

For more information on the benefits of small business and franchise ownership and determining if it’s right for you, Contact us.  There is no cost or obligation for our service.

Perhaps you have decided that owning a business is right for you.  You may have considered starting a business, but now franchising appears to be the right choice because of the proven systems and track record it provides. Wouldn’t it be great if you could get the inside scoop, the real deal about franchising from an expert BEFORE you decide to invest.

Well you can!  We have years of experience as franchise owners and are advisers to one of the country’s top university’s entrepreneurship program.  As franchise advisers we help people from all walks of life, including college students, learn about franchising and whether it would be right for them.  In this article we have summarized some of our most important recommendations that will help guide you through your due diligence in evaluating different franchise opportunities.

10 Insider Secrets you must know before investing in a franchise.

1. Don’t go it alone –the key before opening a business is to first determine your needs and interests.  To really know yourself requires some self-discovery.  This process can be very difficult to go through alone and as a result many considering a franchise skip this vital step and jump to a decision based on emotion.  An experienced franchise adviser can help you explore franchises that would be a good fit for you personally, and ground you in reality.
2. Find out who’s steering the mother ship – just as your own performance will be vital to your success, so will be the performance of the executive team running the franchise.  Dig into their background, experience and track record.  Ask franchise owners how well they are supported by the franchise company.
3. Have enough money to live on – many investing in franchise opportunities are doing so on a shoe string.  If (when) there are unforeseen setbacks or the franchise takes longer to derive the expected income, the owner still needs to pay their personal expenses along with the franchise expenses.  You must insure you are not “betting the farm”.
4. Crank the numbers – related to number 3 above. Ask the franchise company for a sample pro forma spreadsheet so you can enter your own performance assumptions.  Enter different growth and expense scenarios.  Some franchisors will be reluctant if they do not disclose an earnings claim in their Franchise Disclosure Document (FDD).  If that is the case, develop your own spreadsheet or use the services of your CPA or accountant.
5. Be suspicious of a new franchise – a new franchise is a chance to get in on the ground floor (so says the franchise salesperson).  “The next McDonalds” they will say.  Maybe but unlikely.  It can be difficult to determine how successful a franchise might be without a long track record.  For newer franchises it is vital to use a franchise adviser.
6. Push back on pushy franchise sales people – related to number 5 above.  You need to learn how to politely challenge pushy sales people whose objective is to sell you their franchise.  Make them prove what they say.  A good franchise sales person will educate you.  Better yet, use a franchise adviser who is focused on meeting your predetermined goals and objectives.
7. Go face to face with existing franchise owners – yes, you should call many owners of the franchise you are considering.  Better still, you should go see them.  Something magical happens when you sit across the table from them and they show you around their business.  They open up!  You are much more likely to get the real story if you spend time with them developing a personal rapport.  Just don’t abuse their time; they are busy running their business.
8. Understand local competition – it is very important, with the franchise company’s help, to determine specifically what you need to do to get a foothold in your local market.  You will need to know as much as you can about your competition.  Be a secret shopper; ask suppliers, customers, even store neighbors, if the franchise is retail.  Use an experienced commercial real estate agent, but do not settle for any location that doesn’t meet your specific requirements.  Another word for “settle” is “stuck”.
9. Use a franchise attorney – unfortunately, to save some expense and time, not everyone uses an attorney (who must specialize in franchise law).  It is vital that you understand your obligations and commitments before signing any franchise agreement.  You also need to know what the financial consequences are if you do not succeed.  If at all possible, avoid a personal guarantee or at least limit the amount of the obligation.
10. Know your exit strategy – you may not know exactly when you intend to sell your business, but you should think through some possible scenarios.   Some want to own for a few years and cash in, others may want to run the business into retirement, and then pass it on to their family, etc.  All this is fine, but regardless of your intent, you need to determine your possible Return on Investment (ROI) before you invest.  In many businesses, the real return comes at the time of selling the business, not necessarily the income earned along the way.  Develop a realistic growth plan with benchmarks so you know how you will attain the business valuation you seek when it comes time to sell.

To learn more Insider Secrets, take the next step.

As you can see from the 10 secrets above, it is very important that you seek Business Advice from an expert with deep franchising experience before you invest.

Owning a franchise can be a wonderful lifestyle and a great way to build wealth and equity.  To realize this potential requires that you start off with the right franchise, the best one for you.  If you do, you will be self-motivated.  You will be very excited knowing you already know where the path you are on will lead.

For more information on the benefits of small business and franchise ownership and determining if it’s right for you, Contact us. There is no cost or obligation for our service.

So for many, business ownership can make a lot of sense, especially considering the unemployment rate for “Post – 9/11” Veterans was 11.5% in 2010, according to the Institute for Veterans and Military Families at Syracuse University.  Traditionally, most of the emphasis has been placed on helping veterans improve their job seeking skills, not helping them investigate self-employment.  However, this is changing through several major initiatives.  Many of these programs focus on franchise ownership because it can be much easier than a veteran trying to start their own business.

Why franchising makes a lot of sense for veterans and some promising small business financing programs you should be aware of.

1. Veterans have what it takes – when transitioning from Military to Civilian life veterans bring with them many key characteristics often found in successful business owners, especially those owning franchises.  The reason being, the military, like franchising, is built on systems such as training, operations and communications. Other key traits include strong leadership skills and a thorough understanding of teams and how to motivate and manage them.
2. Success Transition– many considering owning a franchise don’t know how to investigate the thousands out there.  They go online and are overwhelmed with all the choices.  They can’t evaluate which franchises they may be best suited for.

An expert franchise adviser can help them conduct some self-discovery to determine their real needs and interests, in order to know what type of franchise to look for, before they ever invest a dime.

3. Operation Enduring Opportunity – a franchise industry-wide effort is underway to hire 75,000 veterans and 5,000 Wounded Warriors by the end of 2014, as well as to recruit and develop thousands of veterans to be franchise small business owners.  This initiative will provide education, advocacy, technical assistance and financing programs to achieve its goal.  Efforts are being spearheaded by the International Franchise Association (IFA), franchise companies, VetFran, the Small Business Administration (SBA), the Veterans Administration, the White House and other government agencies.

As an example, Guidant Financial is offering a 10% discount on services to all U.S. veterans, as well as sponsoring one veteran each month in 2012 to use Guidant’s services free of charge. The company has committed to helping fund 500 U.S. veterans to become franchise small business owners by 2014.

4. SBA Express & Pilot Loans – streamlined and expedited small business financing programs are available to veterans. The Express program provides a response to an application within 36 hours, and often lower rates are available.  Patriot Express Loans offer easier access to capital and feature the SBA’s lowest interest rates on business loans, including purchasing a franchise.
5. Franchise companies –Little Caesars has a “Veterans Program” which offers a $5,000 reduction of the franchising fee, financing benefits and a $5,000 credit on the equipment order for the first store.  Service-disabled veterans are eligible for additional benefits, including a waived franchising fee ($20,000) and additional financing options and benefits which total approximately $55,000.

To learn more about potential franchise ownership and how to make the transition, take the next step.

The unemployment rate for veterans, especially those under 25, is just unacceptable.  The government has many programs to help a veteran look for a job but there just aren’t enough.  Fortunately more resources are becoming available to help vets explore becoming a veteran business owner as a very viable option.

Owning a franchise can be a wonderful lifestyle and a great way to build wealth and equity.  Veterans possess many great qualities required to run a franchise, the key is to select the right one.

For more information on the veteran programs above and help exploring franchise ownership, Contact us. There is no cost or obligation for our service.

Perhaps you have been thinking about making a career change and becoming a business owner. For many, owning a franchise can be better choice.  A franchise company provides a blue print for new unit owners to follow that has been proven successful over and over.  But before you start thinking of possible franchises to own, the first thing you must do is focus on yourself.  Success starts with understanding your personal needs, business goals and financial requirements BEFORE zeroing in on specific franchises.

So why don’t prospective business owners take the time to think this through?  Because self-discovery can be a difficult process!  It can be hard for some people to be really honest with themselves.  Many just don’t know what qualifications are required.   Often people get so excited about getting into a franchise they lose total sight of a possible exit strategy down the road – and NO business should be started without this in mind!

For these reasons, it is very important that a qualified franchise adviser be consulted.  What is a franchise adviser?  The adviser is similar to a career coach, only they focus on helping people understand the world of franchising.  They help them sort through the many options available to determine which may be the best fit for them.  But all of this comes AFTER the adviser has helped their client look inward to determine what they want to get out of a business at many levels.

Here are 7 key steps a qualified franchise adviser will go through with their client:

1. Initial interview – A franchise adviser will start off asking some basic questions and will share information to help you determine if business ownership would be a smart Career Change for you at this point in your life. A lot of people are intrigued with the idea of owning a business but need some help understanding what it would really be like.

2. Self-evaluation – A franchise adviser will use a confidential questionnaire to help you think through what you would want to get out of a franchise before you ever invest in one.  For instance, will you have a partner and will they be passive or active?  Is your spouse supportive?  Would you be willing to work some nights and weekends for certain types of businesses?  Would you be better with customers coming to you in a retail store or could you succeed networking and going out to customers with a service based business.  Would you prefer selling to businesses (B2B) or to consumers (B2C)?

3. Search Criteria – Once you have gone through self-evaluation, the next step is to use this information to develop the “Search Criteria”.  This will be used by the franchise adviser to conduct their search and ensures a greater likelihood of finding a franchise or Business for S that would be a very good fit.

4. Potential franchise solutions – The franchise adviser will present the franchises that match up well with your Search Criteria.  A very experienced adviser will know a great deal about these companies and will be able to explain their executive team’s track record, their differential advantage, their support systems including training, marketing, sales, etc.

5. Due diligence – Now that you know some franchise companies that could be a good fit, you need to confirm which one you prefer.  After interacting with existing owners of a specific franchise and becoming aware of what it will take to be successful with their model, you may determine this particular franchise isn’t for you.

6. Discovery Day – Once you have zeroed in on a particular franchise that seems to fit you well, you will attend “Discovery Day” which is normally held at a franchise company’s home office.  You will meet their executives and support team and they will explain the process of coming on board and the support they provide, should you select them.  The franchise company will also be evaluating you to make sure you have what it takes to be successful.

7. Refer specialists – As you go through the franchise selection process you may need certain specialists to assist such as a CPA, franchise attorney, financing sources, etc.  The franchise adviser may be able to refer professionals for you to consider in addition to your own.

To learn more about potential franchise ownership and how to make the transition, take the next step.

People use a real estate agent to purchase a home.  So why wouldn’t you use a Franchise Consultant to help guide you through one of the most significant investments of your life?  There are franchise opportunities that may be the perfect match for you, but without a franchise adviser how will you ever know?  People who use a franchise adviser are often pleasantly surprised with the types of franchises presented to them.  There is no charge to use a franchise adviser because they are compensated similar to an executive recruiter.  You also will not pay more to purchase a franchise if an adviser has helped you.

For more information on the Veteran programs above and help exploring franchise ownership, Contact us. There is no cost or obligation for our service.

You can go online and find all kinds of lists indicating the latest trends such as the “Best” or “Top” or “Hot”, etc. franchises, but it is questionable if these lists are really viable.  Often franchise companies are included because they paid to be there.  Wouldn’t you think at least some of the same franchise companies would appear on multiple lists, but this is seldom the case.

A better approach is to first take a look at franchise categories that are ripe for growth based on economic and social projections.  Then with the help of an expert franchise advisor you can drill down and identify specific franchise companies within these growth sectors that could be appropriate for you to investigate further.  The key is to identify specific franchise companies that not only have real growth potential, but also those that could be a good fit for you personally.  For instance, you may work better with the support organization of a particular franchise because they provide more hands-on assistance out in the field (at your location) than another franchise in the same category.

These 7 key trends reveal franchise categories with significant growth potential

1. Green – All things “green”, meaning environmentally friendly, are in vogue.  Many franchise companies are implementing “green” products and services as a way of attaining a competitive, differential advantage.  There are, however, a few new franchises emerging that consider themselves “green” because they focus on ways of increasing energy efficiency through such products as solar panels or longer life batteries, etc.

2. Food – According to a recent survey conducted by The National Restaurant Association, there is a major trend toward children’s nutrition, local sourcing of food (and identifying its origin), food trucks, and mobile/tablet applications.

Joy Dubost, Ph.D., R.D., director of Nutrition & Healthy Living for the National Restaurant Association, states: “Nutrition – especially when it comes to children – is becoming a major focus for the nation’s nearly one million restaurants. “  She adds, “Local farms and food producers have become an important source of ingredients for chefs and restaurants…”

3. Senior Care – According to the U.S. Census Bureau, the number of people in the U.S. over 65 years of age will grow from 40 million to 47 million, an increase of 16.5%.  Many franchise companies provide products and especially services to this expanding group.  In-home medical and non-medical care and also physical rehabilitation are examples.  However, as this target segment grows so does the number of franchise companies servicing them.  Extra caution is necessary and requires thorough research to determine the Best Franchise for you.

4. Education and Child Care – You may be surprised to know that there are nearly twice as many children under age 18 in the U.S. as there are seniors, according to the U.S. Census Bureau.  Most parents want the best for their children and as our schools are being forced to cut back, franchises specializing in education and tutoring are filling the gap.  Our highly competitive world mandates that we educate our children properly, but it also requires many families to have two wage earners, increasing the need for childcare services.

5. Hispanic and Asian – According to the U.S. Census Bureau, by the year 2015, 1 in 5.6 people in the U.S. will be Hispanic and 1 in 20 will be Asian.  Many franchise companies are accommodating these fast growing segments while others are targeting them as their main customer group.  Examples are tax preparation and ethnic cuisine restaurants.  This Small Business Opportunity should not be overlooked!

6. Business Consulting – The U.S. was built on small businesses and an entrepreneurial spirit, and is the backbone of our economic recovery.  These small businesses have a huge need for consultants that will help them with marketing, advertising, sales, operations, and financial services.  In particular, there is an ever increasing need for these small businesses to leverage their competitive position through the Internet, social marketing and mobile apps.

7. Health and Wellness – In this age of self-awareness and empowerment and baby boomers wanting to insure their health and vitality, there will remain a strong need for anti-aging and wellness products and services.  In particular, customers are requiring one-on-one individualized services to meet their very specific needs.

To learn more about potential franchise ownership and explore the trends above, take the next step.

An expert franchise adviser is invaluable in helping you develop a plan of How to Work for Yourself.  You will be able to identify franchise growth categories and stay clear of fads.  A franchise adviser will also help you identify specific franchises to investigate which will meet your needs and interests.  The franchise adviser will guide you through due diligence and train you on how to cut through an aggressive franchise sales person’s hype.  You will discover that the “right” – “best” – “top” – “hot”, etc. franchise for you depends on your very own special requirements.  Becoming a franchise owner can be the start to a wonderful and profitable new life.  A franchise adviser will help you get there!

For more information on the franchise trends above and help exploring franchise ownership, Contact us. There is no cost or obligation for our service.

Another factor to consider is franchising, which to some extent, can act as an equalizer and have the effect of “leveling the playing field”.  A franchise is a business model created so that it can be successfully duplicated over and over by people with many different types of backgrounds and personalities.

Franchises are built around “systems” such as sales, operations, training, etc. which the owner follows, eliminating the need to “recreate the wheel”.  However, a franchise owner still needs to have the traits below to be in business in the first place.  Assuming you have what it takes, you must figure out which specific franchise would suit you the best.  An expert franchise adviser can help you through this process.

Compare yourself to these 7 key personality traits commonly found in successful business owners.

1.)          A successful business owner is results oriented.  They are able to distinguish between being very busy vs. doing work that matters most.  They identify Key Result Areas – work that is most critical to the success of the business and they prioritize to make sure this work gets done.

2.)          Successful Business Ownership requires someone who is respected by employees, suppliers and certainly customers.  To attain this, it is vital that a business owner treat everyone with respect and insure excellent product and customer service standards are upheld.  The owner is a relationship builder and a leader.

3.)          A successful business owner is resilient.  The buck stops with the owner.  At the end of the day, it is up to them to make their business successful.  “Stuff” happens but regardless, the owner needs to be able to persevere.

4.)          A successful business owner understands the importance of premier sales and marketing and is able to perform themselves or hire accordingly.  Revenue and cash flow is king to survival and hopefully prosperity, and a business owner must be proactive to insure the sales process is continuously producing the desired results.

5.)          A successful business owner is a “big picture” thinker.  They don’t get “wrapped around the axle” by being so short-sighted that they are unable to achieve their mid and long term goals to grow their business.  The owner of an Entrepreneurship Venture needs to be very aware of their company’s strengths and weaknesses and know how to position themselves against the competition and think proactively.

6.)          A successful business owner can be a specialist or a generalist, but when it comes to evaluating financial performance they must be detailed (at least enough to understand their profit and loss statements).  This does not mean the owner personally needs to perform payroll, bookkeeping and accounting functions because in many cases it may be better to hire qualified personnel or outsource these functions.

7.)          A successful business needs to be capable of living a balanced life and not be consumed by their business.  They realize growing a successful business is a journey to be enjoyed.

To learn more about business ownership and to see if you have the right personality to succeed, take the next step.

Most people go online to search businesses or Franchize for sale.  They see many options and can quickly get very excited about the idea of controlling their own future as a business owner.  If they are not careful they can get caught up in the emotion and excitement of learning about these businesses and not conduct thorough due diligence.  Even worse, they don’t stop to analyze themselves to determine if they should be a business owner in the first place.

An experienced franchise adviser can be extremely valuable in helping you through a bit of self-discovery to help you determine if you are cut out to own a franchise.  They can go further in helping you identify the specific franchises that may fit your personality traits and strengths and weaknesses.  They also can keep you on track to make sure you do thorough due diligence.  Having this knowledge should enable you to enjoy a great new life as a franchise owner because you will know the business is the right fit for you, well before you ever begin!

For more information on the personality traits above and help exploring franchise ownership, Contact us.  There is no cost or obligation for our service.

For young adults, franchising can make a lot of sense.  A franchise is designed so the business model can be replicated over and over by people of varying ages and backgrounds.  In some respects franchising lays out a road map to follow.  This takes a lot of risk out of owning a business at a younger age and provides the tools and systems necessary for success.

7 key things to consider about business ownership in your 20’s or 30’s, is it a good idea?  You bet, but keep the following in mind.

1.)          You are full of energy and ideas – It may be a surprise to learn that it isn’t necessary to be totally passionate about a business but you definitely need to like what you would be doing on a daily basis AND have the energy to do it!  As the saying goes, “success is often more perspiration than inspiration”.

2.)          You can afford to take intelligent and educated risks – In your 20’s or 30’s your personal expenses and external obligations outside of work may be less than later on in life when children are preparing to go off to college as an example.  Even if it takes you longer to attain your business goals you still have plenty of time for further growth or to even change direction all together.

3.)          Your age may help you relate to certain types of business customers – There are many franchises such as college prep tutoring or fast casual food restaurants that cater to a clientele not too far removed from those business owners in their 20’s or 30’s.  A fairly young franchise owner should be able to leverage their ability to relate to a comparable age demographic and establish repeat and loyal customers.

4.)          You may not have to unlearn old (unproductive or outdated) habits –Younger business owners are probably less likely to be set in their ways and very open to following the franchise systems laid out for them.  They may also be more inclined to share their learning and growth experiences with the franchise company helping them further refine (not redefine) the franchise model.

5.)          As a Young Entrepreneur you understand social media and know how to utilize it to your advantage – Older business owners can be confused by social media and marketing because they may not use it extensively on a daily basis like those in their 20’s.  Being able to engage and communicate with a target market of younger consumers is a great competitive advantage.

6.)          When considering Businesses to Own, funding can pose a challenge – Financing sources are available for those who have not yet established strong credit histories or a high net worth if you know where to look.  For instance, funding could come from friends or relatives or perhaps in the form of a “micro loan” if the business is in an economic development area.  Some franchise companies are also offering incentives such as a reduced or delayed franchise fee and veterans can qualify for a discount.  Several other possibilities exist.

7.)          A franchise can help you in areas where you may not have a lot of experience – Any new business needs to quickly find customers and start generating cash flow.  A new business owner doesn’t have time to figure things out on their own which can be even more difficult for a younger owner without a lot of work experiences to rely on.  However, a franchise company has already figured out what is required and how to attain desired results quickly.

To learn more about owning a business as a young adult (or any age), take the next step.

Students spend a tremendous amount of time and money earning their degree, but still can lack direction and turn to a Career Center for help.  Some are not even sure they want to get a job and become an employee.  Perhaps you are contemplating becoming a business owner, but don’t know how to go about it.

The answer is to work with an experienced adviser who specializes in small business and franchise ownership.  The adviser will be able to help you discover your strengths and weakness and help determine if you should become a small business owner and if so, which business type or franchise would be right for you – one that is well positioned for you to attain success at an early age!

For more information on how a franchise adviser can help you explore business ownership, Contact us. There is no cost or obligation for our service.

Simply put, the environment and timing for women to become business owners is ideal.  Here’s why; many women are accomplished in business, are highly educated and have the financial resources required to become business owners.  Franchising, in particular, makes a lot of sense because it allows women to go into business for themselves, but not by themselves.   Women in general are relationship oriented and they favor the comorodary and support that franchising offers them.

Although women are capable of running any franchise, many prefer the categories listed below that have significant growth potential.

7 Franchise categories, favored by women, which are experiencing significant growth.

1.)          Children – Parents want the very best for their children, regardless of the state of the economy, and make sacrifices in order to attain it.  Public schools have been making severe cutbacks in many areas and parents are looking for ways to compensate.  There is a huge demand for education, tutoring, after school programs, and entertainment options.

2.)          Staffing/Recruiting – The staffing industry generates over $9 billion annually and is poised for exceptional growth.  According to the American Staffing Association, U.S. firms hire 9.7 million temporary and contract employees each year. In fact, 25% of companies use staffing firms.  Many women entrepreneurs are recognizing this potential and becoming staffing business owners.

3.)          Healthcare – It is no surprise that as the baby boomers age their need for healthcare services will skyrocket.  Women can make exceptional senior care franchise owners because this category is extremely relationship based.

4.)          Beauty and Personal Care – Many women find fitness, weight loss, spa and cosmetics type businesses very appealing.  This is a crowded category with lots of competition so caution is needed when exploring specific franchises.

5.)          Financial – Women with financial backgrounds have several franchise choices which provide accounting, tax, payroll and bookkeeping services.  They also can find specific consulting type franchises that offer guidance to small and medium size business owners where their financial expertise is invaluable.

6.)          Home Services – Women tend to be the decision maker in the home when it comes to selecting companies to provide residential services such as carpet cleaning, painting, pest control, closet and shelving upgrades, kitchen remodeling, decorating, etc.  A woman business owner can do very well relating to a woman homeowner.

7.)          Retail – Apparel, coffee, yogurt, cosmetic, etc. are common business ideas for women frankly because women like and relate to these types of products.  This is a category where social media can have a very positive impact on sales and customer loyalty, and younger women owners are becoming savvier in its use.

Care should be used when exploring specific franchises in this category because it is highly competitive and can be expensive to operate because of store leases, inventory, insurance, overhead, etc.  It is essential that a local competitive analysis be conducted in relation to site selection.

To learn more about women business ownership and specific franchises that have significant potential, take the next step.

Identifying a great franchise to own requires much more effort than just attending a franchise show.  It requires introspection and women can have an easier time than men, looking inward to determine their needs and interests.  This self-discovery is a must before any specific franchise, is contemplated.  However, “easier” doesn’t mean the process is “easy”.  This is where a very qualified franchise adviser can add a lot of value by helping you determine your strengths and weaknesses, and create a search criterion to identify which franchise category and specific franchises may fit you best.  The franchise advisor can also guide you through the due diligence process and make you aware of the many financing sources that are available, even in this tough economic environment.

For more information on how a franchise adviser can help you explore business ownership, Contact us. There is no cost or obligation for our service.