Many people today are looking for ways to diversify their income streams. Maybe you're in a job and looking for an additional source of income. Maybe you're a small business owner and looking for something you can "snap on" to your current business to bring in additional revenue. How can you achieve this?
The "F" word.
No, there's no cursing allowed here. We're talking about FRANCHISING.
Of course you didn't wake up today saying "I'm going to buy a franchise", but may people are very curious about it. Perhaps you are too!
And don't worry. Franchises are more than just french fries and fast food. Watch this video interview to learn how the F word can give you multiple streams of revenue:
Key Takeaways on Franchises
* Why do you do what you do?
My journey includes all of the paths you can pursue, including having a job, starting a business from scratch, buying 2 businesses, selling it all, then buying a franchise in which I still own today, 16 years later and have been #1 in the system since day one.
*What made you a top-performer in your franchise?
Looking back, I realize now that's it's because I worked with someone who helped me find the perfect franchise for me. If I had just gone and picked any franchise, I never would have been as successful. When a franchise is a great fit, you're going to be set up to be so much more successful in it. That's why today I help people get to their next level by exploring franchise business ownership. I help them figure out which franchise(s) would be a great fit for them.
* Why should someone consider looking at a franchise?
Franchising can help you do what you love, love what you do. Most people don't know there are more than 4,000 different franchises available. A big myth people have is they think franchises are fast food or just brick and mortar. Not true! Today you can be an owner-operator, semi-absentee, or focused on passive income. A key reason many people explore franchise ownership is to build legacy. Another reason is people want to support their community. Franchising is great way to do all of this.
* What are the biggest challenges around concept of franchising?
What I find is that many people come in with preconceived notions, such as "I have to have a lot of money", or "Franchises are just french fries and fast food". That's why working with someone like me who can help them find the right fit busts through the myths. I'm like a realtor, but for franchises. A realtor help you find dream home. I help you find your dream business.
* Why the F are you here?
There are 8 different F's - your "why". Why do you want to own a franchise?
- Freedom to have more control of your life
- Flexibility - I want to do what I want, when I want
- Financial Security - sure a job gives you a paycheck, but nothing is more rewarding than building a business that gives you financial control
- Fun - do what you love, love what you do, then it's not work, when it's a great match it's fun
- Fulfillment - will you do something you're passionate about?
- Family - people want to build legacy, want to pass on to kids
- Future - you build a business because you're thinking of 5- 10 years down the road, have an asset to sell
- Fallacy of job security - no job security, you can be let go, higher the ladder, less opportunity and room for development, people want to do their own thing
*If you already are an entrepreneur, how does a franchise fit in?
A franchise can give you diversification. Different businesses will do better / worse at different times. Owning different types of businesses allows you to manage ebbs and flows off the economy. It's also a great strategy for wealth building. And many entrepreneurs who own businesses are always looking for multiple streams of revenue.
*How do you find a franchise match?
Always start with your WHY. The business you dream of may not be the right fit . . . lots of people dream of owning a restaurant. But a restaurant requires long hours, lots of overhead and employees. If you want freedom & flexibility, that wouldn't be good fit. There are many concepts that could be great fit, but you don't know what you don't know. That's why you should work with someone like me who helps you figure out what franchises match your why.
*How do I find the perfect franchise?
You can start with our very nifty franchise quiz.
To book your NO COST Dream Business Match Making Session with us go to Explore.NextLevelFranchiseGroup.com
 | Author BioI’m Stacey Riska aka “Small Business Stacey”, your franchise placement specialist. I help aspiring business owners find the PERFECT franchise so they can get to the next level in life and business. |
