FranNet of Dallas/Fort Worth/Oklahoma

“Bringing management skills to the table is going to be critical as well as knowing the type of people you’ll be managing. Some of our instructors are high school students, but the vast majority are college-age students. This may be their first job and their values may be a little different than mine, or what yours will be as a franchisee. Be prepared for that. You’ve got to be flexible because in our case, the staff is our bread and butter.” Before purchasing a business, it’s crucial to identify what matters most to you as a potential owner. While you might be drawn to a business that aligns with your values or is a recognized brand, it's essential to dig deeper. We recommend outlining your priorities before starting your search, including factors like the number and type of employees you want to manage. If you plan to operate a semi-absentee business where you'll oversee a manager, strong management skills are vital. This is a significant investment, and you'll depend on others to run the business effectively under your guidance. Being a good leader is essential for success. Ready to clarify your priorities for business ownership? Reach out today for guidance in finding the ideal fit! The link to the full episode is in the comments below 👇 Sara Waskow, Roxanne Rapske, Joe Stafford #DFWFranchiseExperts #Franchising #STEAMFranchise

“We ended up with a much larger facility than the model called for. It was one of the earlier locations. I think it was the third location in the system. The facility has a grandiose look and feel with a lot of cut glass. One of the attractive things was that a typical facility today has the capacity for about 32 students for any given class period, and our facility has the capacity for almost 60 students. I thought if we could just fill this place up, then everything would be great. But that proved to be much more difficult than we originally thought.” If you’re considering a franchise but thinking of deviating from its established model, proceed with caution. Franchisors may adjust the model over time, such as reducing square footage to lower overhead for new franchisees. These changes are intentional, so avoid straying too far from the recommended setup. For example, if the model works best in a strip center, but you’re being encouraged to rent mall space at a much higher cost, be cautious. The model’s success might not translate to a setting with higher rent, so it’s best to stick closely to what’s been proven to work. We cover many current and relevant topics. A few include: ◈Understanding the labor pool you’re comfortable managing ◈Be prepared to do things in your business you may not have done in your corporate job ◈Why it’s best to keep emotion out of your decision when buying a business The link to the full episode is in the comments below 👇 #DFWFranchiseExperts #Franchising #SteamFranchise

“The fundamental mistake I made is that I kind of fell in love with the idea of controlling all of North Dallas for this concept. I was going to try and make that happen at all costs. The plan was to buy this existing location and then, in six to twelve months, apply for financing from the SBA to open up a second location. This particular concept is about $350,000 to $400,000 between fixed costs and working capital to keep the business running as you start to build up your clientele. So, probably the biggest mistake I made was falling in love with the notion that I was going to be king of North Dallas.” Buying a business or franchise requires a balance of head, heart, and gut. Keep emotions in check to allow for thorough due diligence. While avoiding analysis paralysis, ensure you don’t skip any steps. If you notice red flags, discuss them with the franchisor and franchisees, addressing all concerns fully. Grounding your enthusiasm with realistic goals and a clear understanding of the required resources helps prevent costly mistakes and keeps you focused on sustainable success. Ready to make a smart, balanced choice in franchise ownership? Contact us to start your journey today! Sara Waskow, Roxanne Rapske, Joe Stafford #DFWFranchiseExperts #Franchising #SteamFranchise

Franchise Spotlight: This commercial cleaning franchise is a sweeping success! 🔵 November 6th, 1 pm - 2 pm CT Take charge of your future with a commercial cleaning franchise that’s been sparkling with success for over 30 years! With tech-driven cleaning solutions and a rock-solid support system, this franchise is your ticket to building a thriving business in a $100 billion industry. This commercial cleaning franchise is a leader in the industry. From office buildings and medical facilities to restaurants and retail spaces, their customized solutions are always dependable and consistent. Additional highlights include: 🔹Easy Financing Programs 🔹Comprehensive Training & Ongoing Support 🔹Own an entire region and help others get into business 🔹A Flexible Schedule Join us to learn more about this incredible turnkey franchise opportunity! Register now for this FranNet-hosted webinar featuring a truly unique business opportunity - https://lnkd.in/gpcJnW4G Unable to make this particular webinar’s time and date? Register anyway and we’ll send you a link to the full presentation—which you can then view at a convenient time of your own.

When you decide to pursue an entrepreneurial life through franchise ownership, it’s highly likely you’re going to need some crucial introductions along the way. In this recent edition of our blog post, we speak to the type of referrals we can provide – and why you’ll need them.

“I owned businesses when I was in high school. I went into the army and wanted to own a business, but wasn't allowed to and wanted to do what I was told. I’ve always wanted to own my own business. There was nothing that was going to stop me, especially myself, because most of the time, what stops us is ourselves. It's not being willing to change or not being willing to grow. I was reading the books Rich Dad Poor Dad, and The Millionaire Next Door, trying to help me figure out why I was in this situation. What did I do? What did Jody do? Not society or not the franchise. What did I do to get me here? When I started reading these books, I could literally pick myself out of the people they were talking about and what not to do." Success in business requires personal accountability and the right mindset. Jody’s story shows how persistence and self-awareness are key to overcoming internal barriers like the fear of change. Many clients turn to influential books like these to help them learn from their mistakes. For potential business owners, this highlights the importance of self-reflection, continuous learning, and personal growth. With these qualities and the right franchise system, you can achieve your entrepreneurial dreams. If you're ready to take control of your future and leverage your personal growth for business success, let's explore franchise opportunities together. Contact us today to start your journey toward owning your dream business! The link to the full episode is in the comments below 👇 Sara Waskow, Roxanne Rapske, Jody Bills, Abby Bills #DFWFranchiseExperts #Franchising #FinancialFitness

“When someone you’re seeking advice from gives it to you, listen to what they're saying. Be willing to listen. Being in this industry, I’ve learned people really want to help. They want to help and they want to see you grow. I want all of my business owners to be in the multimillion-dollar range because then, all boats are lifted. I'll be able to make more money because they're making more money. It’s a win for all. When I speak with my clients, I listen to what they're saying, I give them advice and most of them take it.” Mentorship and collaboration are invaluable. Experienced advisors want their clients to succeed because it benefits everyone involved. This mirrors the franchisee/franchisor relationship, where mutual growth is key. When franchisees thrive, the whole system flourishes. This creates a supportive environment where advice is offered with both good intentions and a shared interest in financial success. For those considering business or franchise ownership, being coachable is essential. We cover many current and relevant topics. A few include: ◈Understanding cash flow ◈The importance of taking ownership ◈Accepting mentoring and coaching The link to the full episode is in the comments below 👇 #DFWFranchiseExperts #Franchising #FinancialFitness

It's been a great two days at our FranNet Fall meeting getting updates from our franchise partners and learning more about their brands. We'll be sharing more soon, but feel free to contact us to schedule a time to hear what we've learned!

“You always want to understand the cash flow in your business. When I say cash flow, I mean, how much money is flowing into the business, how much money is flowing out of the business, and how much do you have left? When you can determine how much you have left per quarter, then you can understand how much you can take. If you don’t have enough money to pay yourself, you do not have a sustainable business. What many people will do is try to borrow their way to success. They'll borrow money and when the money comes into their account, they think they can take some money out to pay themselves. No, you can't. That's not revenue. You just borrowed money. That money will hopefully keep you afloat until you can get to profitability, but not yet. I always tell people, if you're getting started in a business, you should be able to sustain yourself for two years without your business.” Jody highlights the critical need to understand cash flow and maintain financial discipline to sustain a business. This perspective offers a realistic view of how profitability takes time, especially in the early stages of business ownership. Many businesses fail due to being under-capitalized, so the advice to plan for self-sufficiency over two years is essential. It helps set proper financial expectations and encourages avoiding reliance on borrowed money as income. If you're able to take money out of your business before two years, that’s an ideal situation, but it's always better to be over-prepared than under-prepared. This insight is invaluable for managing the financial health of a business and ensuring long-term sustainability, acknowledging both the challenges and rewards of entrepreneurship. Ready to own a business? Let’s talk about how franchising can set you up for financial success. Contact us today to get started! Sara Waskow, Roxanne Rapske, Jody Bills, Abby Bills, #DFWFranchiseExperts #Franchising #FinancialFitness

In this week’s blog post from FranNet of Dallas/Fort Worth/Oklahoma, we discuss the anxieties that come with uncertainty in an election year. And why it shouldn’t deter you from your personal hopes and dreams of an entrepreneurial future. Let us know your thoughts in the comments below 👇