From Franchise Info

How to Use a Franchise as a Retirement Vehicle

retirement-vehicle

“This is an advanced financial topic. One that I would be happy to discuss with you. Please contact me via the Contact Form on this website to discuss your particular financial situation.” – Vicky Tade

Using a Franchise as Your Retirement Vehicle

Baby boomers are getting serious about securing their retirement, but it may not be in the traditional ways you think. “With the grim outlook on the future of Social Security and pension plans becoming a thing of history, relying on your employer’s retirement plan to fund your golden years may just not be enough anymore,” says Thomas Walsh, an investment analyst with Palisades Hudson Financial Group in Atlanta.

We have watched a steady increase of the age of franchisees over the years and we wonder “is this a new trend?” It seems to be, because as baby boomers see their retirement goals not being met by traditional sources, they are looking for new options.

Franchising has been a popular choice for many reasons. To name a few, franchising allows you to own a business that you control and yet you have instructions for building it and a team to support it. Owning a good franchise can create an annuity-type stream of income for the owner. Also, when selling the franchise at the time of exit, a good franchise can give the retiree a nice influx of capital in a lump sum.

It doesn’t take a rocket scientist or a workhorse to run a franchise – just someone who can lead a team and follow a system. If that’s you, no matter what your age, the right franchise could be the key to your successful retirement. Call today to see which franchises you qualify for.

If you would like to find out more, please contact us today!

What a Franchise Consultant Provides You

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Vicky Tade here to answer the question “What should your Franchise Consultant provide you?”

If you are looking to find a franchise that matches your goals, you may have come across a Franchise Consultant along the way, maybe even me. Many people have never heard of a franchise consultant and don’t know what to expect in working with one or why you should work with one at all. Franchise consultants range in skill level just like any industry. If you are working with one, here are three things you should expect during your engagement.

Franchise consultants spend their days researching franchises. The good ones have streamlined that process and will provide you with research tools to help you assess one franchise’s merits over another. They will also train you on how to use the tools. Here is an example of the tools you should expect: Franchise Comparison Scorecards, a Guide on How to Read an FDD, a sample Proforma to help you get to the bottom line, and validation support questions.

A second thing a franchise consultant should provide you is access to funding. No matter what your financial situation, when you can leverage your assets it allows you to do more with your business faster, so a good consultant will help you find the best options to leverage your franchise intelligently.

Lastly a franchise consultant should always provide unbiased support and assistance. The unique advantage of this industry is that a franchise consultant is paid by the seller, not the buyer. They have hundreds of franchises (sellers) to choose from and so if one is not a right fit for you, they should be the first to tell you so. The consultant should be there to act as a sounding board for you, a supporter to you, and an advocate for you. That means giving you the assistance to help you be successful, because purchasing a franchise is a long-term arrangement and it serves all parties to find the right match.

If you want to talk to a consultant that gives you all of these things and more, reach out to us today.

If you would like to find out more, please contact us today!

Taking Advantage of Technology for Franchise Business Management

technology-franchise-management

Technology Advances Make Franchise Ownership an Easy Decision

Most businesses that fail do so because the owners are not managing the business properly. Things like expenses, sales, cash flow, customer satisfaction, employee management, and inventory need constant attention and management. It’s crazy to think that just 30 years ago all of this was done manually on paper. The margin for error in “the old days” had to be extreme.

The world of technology has completely changed the landscape of how well an entrepreneur can run a business. Franchise systems are leading the charge on utilizing technology to increase the opportunity for success for their owners.

Today’s franchise owner has far more visibility into their business’ operations than ever before. We have seen many tools and resources develop in a short span of time that help franchise owners to do everything from monetize social media to have exact inventory control with automated reordering. Franchise owners can actually see the sales of their stores compared to the staffing by the minute. These tools are built into the operational systems of the franchise, giving franchise owners a huge competitive advantage.

This type of visibility allows them to make smart choices about their business and increase their returns. They can manage their business so precisely because this level of automation and technology. If you would like to learn which franchises are utilizing technology to make life easy for their owners, contact us today and we’ll show you.

“You can expect what you inspect” ~W. Edwards Deming

If you would like to find out more, please contact us today!