Mr. Electric®’s Post

The franchisor also teaches & guides you how to be more profitable in your business. That's the power 💪 of #Franchising!!!

What are some of the mistakes I see people making before buying a franchise? The biggest one is they neglect to do proper research and due diligence. They don’t have in-depth conversations with the franchise company, and they are not reviewing the materials that are provided but rather making decisions on how they feel. A person needs to go out and visit other franchisees, speak to both the successful ones and the failures. We encourage all clients to go out and visit the franchise headquarters for a couple of days before making a final decision. You are going to be working with the franchise company for many years and you need to know who they are. The second mistake I see people making is ignoring the fine print. The franchise regulations are in place for the benefit of the person considering the purchase of a franchise. They are designed to help you avoid costly mistakes. The franchise disclosure document (FDD) is divided into 23 sections all designed to help you do the proper research. The franchise companies are required to give this to you early in the process. You need to read and reread it several times before you decide to purchase the franchise. Are you considering purchasing a franchise? Don't make common mistakes! Our team has 28 years of experience in helping people find the perfect franchise opportunity. Whether you prefer a quick call, email, or text, I'm here and eager to chat with you. Let's explore what's best for you together! #franchising #franchisemistakes #readingthefineprint #duediligence

Do franchise consultants have your best interest in mind? The common way to buy a franchise is to work with a franchise consultant/broker and have them help you find a franchise. They help assess your skillsets, goals, and financial situations... And with that info help you go out and find a franchise. But, here's the catch - most consultants/brokers are paid only by commission. So if you don't select one of their franchises, they don't get paid. Now the question is, do you think this makes franchise consultants bais? Or are they a crucial part of the franchise process?

Subway has a reputation for being a tough franchise system, not exactly franchisee-friendly. But here's a word of caution for all you franchise owners out there - tread carefully with private equity owned franchises. Why? Because these firms are notorious for pushing cash in, beefing up the P&L, and then exiting in about 5 years. This could mean multiple culture shifts for you as a franchisee, which might not always be in your favor. So, look for brands that are easier to run, have higher margins, and are owned by real founder owners. There are much better options out there for you. #SubwayAcquisition #PrivateEquityFranchises #FranchiseeChallenges

One way to truly understand the day-to-day life of a franchisee is through franchise validation calls with existing owners. By hearing directly from those in the trenches, you'll gain valuable insights into the culture, support, and overall health of the franchise system. Another thing that's going to be really important with validation is that you're going to be able to see if the franchisor has the credibility that they say they have. Do they support franchisees in the way that their FDD, their Franchise Disclosure Document, and the franchise agreement says that they will? Although this document is very long and takes forever to read through, it is critically important because it can make or break your decision of whether or not you want to join that franchise network. I encourage you to read every single page of the document, as it outlines comprehensive information about the roles of both parties involved in the franchise: the franchisor and the franchisee. The FDD is crafted in a way that will enable you to make an honest and informed decision about your potential investment into the franchise business. Are you considering investing in a franchise? Remember, franchisee validation can uncover valuable insights into the brand's strengths, weaknesses, opportunities, and threats. How many times do you go through franchisee validation before making a decision? Share your thoughts! #FranchiseValidation #FranchiseLife #FranchiseSuccess #FranchiseOpportunities

What Does a Franchise Broker Do? Franchise broker, franchise consultant, franchise coach, call it whatever you want. In the franchise industry it's commonplace to work with a franchise broker. Now, a few years ago I would've told you that working with a broker is a waste, but my opinion has changed. Ultimately, what a franchise broker does is goes out into the world and finds a franchise for you. A franchise that matches your skillset, personality type, and financial goals. This can be incredibly valuable as these brokers have their finger on the pulse of the franchise industry and have a lot of valuable insights. Check out the full episode here: https://lnkd.in/e-3AXZHr

Subway has a reputation for being a tough franchise system, not exactly franchisee-friendly. But here's a word of caution for all you franchise owners out there - tread carefully with private equity owned franchises. Why? Because these firms are notorious for pushing cash in, beefing up the P&L, and then exiting in about 5 years. This could mean multiple culture shifts for you as a franchisee, which might not always be in your favor. So, look for brands that are easier to run, have higher margins, and are owned by real founder owners. There are much better options out there for you. #SubwayAcquisition #PrivateEquityFranchises #FranchiseeChallenges

The Role of Consistency in Franchise Success: A Broker’s Perspective As a franchise broker, I see firsthand how consistency can be the deciding factor between thriving and merely surviving in the franchise world. When prospective franchisees ask me what makes a successful franchise owner, my answer often revolves around one word: consistency. The most successful franchisees are those who follow the established systems, leverage the support provided, and remain consistent in their operations. Think of it like this: the franchise model is a finely tuned engine. It’s been tested, tweaked, and proven to run efficiently when all parts are working together as designed. When franchisees commit to the process and maintain consistent efforts, they set themselves up for long-term success. 🔑 Key Insight: As a broker, I always emphasize that buying into a franchise means buying into a proven system. The secret sauce? Consistency in following that system. Let’s continue guiding potential franchisees to understand the importance of staying the course. It’s the small, consistent actions that lead to big success stories! 🚀 #FranchiseBroker #FranchiseSuccess #Consistency #ProvenSystems #Franchising

🎙I’m honored to be the first franchisor on the Demystifying Franchise Ownership podcast with Kristine Givens! Had a great chat about the exciting and unconventional concept of the Anago Cleaning Systems franchise model. Why is our 3-tiered model so unique? Our time-tested system allows all 3 tiers to focus on one competency at a time. Although commercial cleaning isn’t rocket science, it’s still a lucrative business that’s not going anywhere. As a franchisor, it’s crucial to recognize that it's not just your business - it's a partnership with your franchisees. I’m proud that each Anago Master Franchise Owner has an opportunity to impact livelihoods positively. 🛑 Slow Down, Get It Right: Franchising isn't a race; it's a marathon. Take the time to understand your franchisees, their communities, and the unique dynamics of each location. Rushing can lead to missteps that impact not only your success but the success of those who've invested their dreams in your brand. It's not about rapid-fire launches. We’re in the business of shaping futures and nothing is more important. 🔐 Communication Is Key: Ensure that everyone involved understands the journey. Transparent communication fosters trust and aligns everyone toward shared goals. We always work with our Master Franchisees to implement innovative technologies or initiatives to ensure they’re on board and understand the benefits to their businesses. Franchising demands a deliberate strategy and that’s what Anago consistently provides. Let's build businesses that stand the test of time, where success isn't just about the bottom line but about the collective achievement of dreams! 💼✨ Check out the full episode here: https://lnkd.in/e4ijZQ2G #ceoinsights #growthmindset #franchiseopportunity #commercialcleaning #smallbusiness #facilitiesservices #franchise

Pillars--When most people think of franchising, they think of big brands or corporations. However, local franchise owners are the pillars in the communities in which they serve, and it's fun and rewarding! They are local business owners who operate a local franchise in their hometown. As a Certified Franchise Consultant, I help educate people just like you and me how to become a franchise owner. What is behind the hometown name-brands is an entrepreneur making that connection becoming the heartbeat of their community. Through my franchise consulting expertise, I educate my candidates on how they, too, can realize their dreams of business ownership in their community through franchising. They can start as big or small as they like, either home-based or store-front. They can choose to have employees or not. There are so many options and industries that franchise consultants can share with their candidates. It only makes sense to enlist the services of a Certified Franchise Consultant who works for you! #thankyou #frantastic #lovemyjob #franchiseconsultant #changinglives  Franchises Bliss