FranNet of Dallas/Fort Worth/Oklahoma

“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 👇

“I got over that first skeptical hurdle. Then, I went down the path of figuring out if the proposition made sense and if it could meaningfully help people. This became a big deal for us as we were researching different franchise concepts. If we were going to invest a lot of money, and potentially spend a lot of time as full-time owner-operators - would what we were going to be doing be useful, and have a meaningful and positive impact on people's lives? Exercise certainly does this. We’re huge proponents. This particular concept uniquely accomplishes this and it's very powerful. Once we got over that hurdle, then we needed to understand the corporate culture, their long-term objectives, demographics, all these types of things.” This is a great example of a client staying open-minded, despite having extensive experience in exercise. His understanding of what fitness should look like, based on years of personal practice, didn’t initially align with the approach of his new business. Kudos to him for setting aside his long-held beliefs and giving himself the chance to learn. Many of us, myself included, tend to make snap judgments about what something is or isn’t. When you're investing in a business, it's important to stay open-minded. Be willing to absorb new information. Mike could have easily missed out on a business that was a perfect fit had he not stepped back and done the necessary research. Stay open to new opportunities when investing in a business. Contact us today to explore options that may align with your goals in unexpected ways! The link to the full episode is in the comments below 👇 Sara Waskow, Roxanne Rapske, Jesse Hudson #DFWFranchiseExperts #Franchising #FitnessFranchise

Learn How to Fund Your Business Start-up or Your Purchase of an Existing Business or Franchise! October 14th, 11 am - 11:30 am CT If you are considering going into business, it's important to understand the variety of funding options that are available to you. As your trusted franchise experts, our goal is to provide knowledge, answer your questions, and to help you make a confident decision on the funding source that best fits your needs. Our top funding partner, Benetrends, will also be on hand to share industry trends and insights on the many different ways to fund nearly any type of business. Register today - https://lnkd.in/g8_DzqUB 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.

From Service to Success: Your Next Success Story Starts Here! 💢 October 30th, 12 pm - 1 pm CT Approximately 15% of franchises in the U.S. are owned by military veterans, highlighting a significant opportunity for those transitioning from military to corporate life. FranNet dedicates itself to assisting veterans in exploring business ownership opportunities through a complimentary, one-hour webinar. Join this session to gain valuable insights into the changing franchise landscape and decide if entrepreneurship is right for you. Since 99% of franchisors view veterans as the perfect fit for ownership, your military training and skills set you apart and increase your chances of succeeding in this industry. In this webinar, you will learn about the different business ownership options available at various investment levels and also discover the discounts offered to veterans by many franchise systems. Join us to learn how you can take control of your financial future and declare your independence from the corporate world. Webinar Highlights Include: 🔻Overview of franchise ownership by military veterans and opportunities. 🔻Insights into why veterans are ideal candidates for franchise ownership. 🔻Discussion on the growing landscape of franchise business opportunities. 🔻Specific franchise options tailored to different investment levels. 🔻Information on discounts and incentives for veterans from franchise systems Register today - https://lnkd.in/gdrCb4wK If you're unable to join the live webinar, register anyway. We'll send you the recording to view at a time that is convenient for you.

“I would recommend looking at multiple different business opportunities so you get a basis for comparison, particularly if you're new to owning a franchise or a small business. If this is something you haven't spent an extensive amount of time on, you have no basis for comparison. It’s important to interview multiple concepts even if something immediately jumps off the page and you think that’s it, still look at additional opportunities so you have a better comparison point.” It’s crucial to compare a variety of businesses to make an informed decision. Since this is a significant investment of both time and money, it’s not wise to jump into the first opportunity that grabs your attention. This decision should be thoughtful, not driven by emotion. Doing thorough research helps ensure you don’t miss better options and improves your chances of finding a franchise that truly aligns with your long-term goals and values. We cover many current and relevant topics. A few include: ◈The importance of being open-minded and doing proper research ◈Some tips for interviewing franchisors ◈How skepticism can turn into clarity The link to the full episode is in the comments below 👇 #DFWFranchiseExperts #franchising #fitnessfranchise

“It was a frustrating and enlightening process for us. The more potential franchises we analyzed and interviewed, the more it helped us gain finer points of distinction between what differentiates the franchise concepts. Eventually, this effort began to point us in the right direction. You start to gain clarity through the process. This process helps you become more attuned to things like the corporate culture. You learn about the basics of the economics and demographics of each franchise. The support provided by the corporate team for the franchise owners and all these different elements come into play. It wasn't until we had the opportunity to talk to multiple franchise concepts that we began to say, ‘Well, they don't really do that, or they're not going to handle that, or that's not necessarily something we want to be responsible for’. Yeah, it was a helpful process.” Mike mentions feeling frustrated during the process, which is common. We let our clients know upfront that this will take at least ten hours a week, and some feel like it’s more of a full-time job. This is a major decision and often a significant investment. That level of effort is necessary to find the right business. Many people think it will be easier than it is. Even when we present franchises, some clients just want to browse websites and make a decision based on that. But you can't do that - you need to dig deeper. It’s about understanding the culture and operations of each franchise because they're all different. Doing the work is essential for making a sound decision. If you're ready to take control of your future and find the right business, don't skip the critical steps. Reach out today to learn how we can guide you through the process and help you make an informed decision. Let’s do the work together to ensure your success in franchising! Sara Waskow, Roxanne Rapske, Jesse Hudson #DFWFranchiseExperts #Franchising #FitnessFranchise