Location-based businesses such as restaurants, medical, retail, professional services, hair and beauty, massage, tanning salons, etc. operate from leased locations such as malls, strip centers, office buildings, or free-standing buildings that customers visit. Marketing efforts drive customers into the location, making this model well suited for franchise owners who want to work in a retail location that takes care of customers who come in vs. being responsible for generating customers through outbound sales efforts.
Brick-and-mortar locations tend to require a larger investment than other categories due to the build-out and construction of the location. The build-out time also makes it take longer to start generating income (often 6-12 months). Hiring and managing staff is usually required for brick-and-mortar locations, and net margins are typically smaller. For this reason, multi-unit ownership is usually encouraged.
Your Franchise Bible Coach will prepare some options based on your overall needs and wants. We will also provide you with needed resources for this category.
The home-based category includes services such as tax and accounting, coaching, internet services, and a variety of services that are performed at customers’ homes or out in the field such as cleaning, appliance repair, painting, lawn care and landscaping, auto detailing, flooring, window coverings, decorating, real estate, etc.
Home-based businesses tend to require more outbound sales efforts since customers can’t be driven into a physical location. The investment for home-based businesses is much lower than a brick-and-mortar model, and the start-up is much faster (typically a few weeks to a couple of months).
Mobile-based businesses include services such as dog grooming, food trucks, carpet cleaning, etc. Mobile-based businesses are usually managed from an office or a warehouse, and the mobile units take the business to the homes and/or businesses of its customers to provide the services.
Mobile-based businesses tend to require more outbound sales efforts since customers can’t be driven into a physical location. The investment for mobile-based businesses is much lower than a brick-and-mortar model, and the start-up is much faster (typically a few weeks to a couple of months).
This is a great sign! Your prior business experience will help you get up and running faster since you already know the basics of business ownership. This will also open you up to franchise options that require skills beyond basic business training.
That's OK. We will present you with options that don’t require prior business experience where their basic business support allows you to learn as you go.
This is a great time to start working with your Franchise Bible Coach. There are thousands of franchise opportunities and narrowing the field of options can be very time-consuming and frustrating. You want to have a franchise expert in your corner to balance out the negotiations and coach you along the way to get the best deal.
Awesome! This is an important step in business ownership. You will face challenges as a business owner and it is mission critical that your circle of influence supports you at every stage. We ask that your spouse, any business partners, or your significant other participate in early-stage meetings so they can learn about each opportunity, weigh in with their feedback, and understand/appreciate the process that you are beginning. Their input is especially helpful since they tend to know you very well and may play a role in your new business once it opens.
As an important step in business ownership, this can make your business search and launch more difficult. You will face challenges as a business owner and it is mission critical that your circle of influence supports you at every stage. We ask that your spouse, any business partners, or your significant other participate in early-stage meetings so they can learn about each opportunity, weigh in with their feedback, and understand/appreciate the process that you are beginning. Their input is especially helpful since they tend to know you very well and may play a role in your new business once it opens.
This could be an acceptable revenue number depending on your overhead and net profit. A franchisee will usually make at least $20,000 to $35,000 per year. Your Franchise Bible Coach will further investigate your financial needs and the franchise options to determine the best plan. Not every franchise model discloses financial performance representations. In this case, we will interview existing franchisees to determine the most accurate income potential.
This level of revenue should be able to provide a moderate income ranging from $36,000 to $55,000 per year, depending on your overhead expenses. Your Franchise Bible Coach will further investigate your financial needs and the franchise options to determine the best plan.Not every franchise model discloses financial performance representations. In this case, we will interview existing franchisees to determine the most accurate income potential.
This level of revenue should be able to provide a moderate income ranging from $60,000 to $99,000 per year, depending on your overhead expenses. Your Franchise Bible Coach will further investigate your financial needs to determine the best plan. Not every franchise model discloses financial performance representations. In this case, we will interview existing franchisees to determine the most accurate income potential.
This level of revenue should be able to provide an above-average income ranging from $100,000 to $199,000 per year, depending on your overhead expenses. Your Franchise Bible Coach will further investigate your financial needs to determine the best plan. Not every franchise model discloses financial performance representations. In this case, we will interview existing franchisees to determine the most accurate income potential.
This level of revenue should be able to provide an above-average income of $200,000-plus per year,, depending on your overhead expenses. Your Franchise Bible Coach will further investigate your financial needs to determine the best plan.Not every franchise model discloses financial performance representations. In this case, we will interview existing franchisees to determine the most accurate income potential.
Multi-unit franchise ownership is a great way to build your business portfolio and create a machine that can share resources to make more revenue. Some multi-unit franchisees set up infrastructure such as accounting, human resources, maintenance, and administration staff to manage numerous franchise locations of the same brand (or even multiple different brands). Depending on your available resources and the infrastructure to support it, you may decide to structure a multi-unit deal from the beginning. Your Franchise Bible Coach will present you with various scenarios to narrow the field of options that align with your goals and expectations.
Owning a single location is a fantastic start! It’s wise to build one successful location, and then reassess how you feel about expanding. It may help to consider that multi-unit franchise ownership is a great way to build your business portfolio and create a machine that can share resources to make more revenue. Some multi-unit franchisees set up infrastructure such as accounting, human resources, maintenance, and administration staff to manage numerous franchise locations of the same brand (or even multiple different brands). Depending on your available resources and the infrastructure to support it, you may decide to structure a multi-unit deal from the beginning. Your Franchise Bible Coach will present you with various scenarios to narrow the field of options that align with your goals and expectations.
Great! Many people work their whole lives for other people. Countless people have testified to being an employee of someone else’s company and helping them build a strong business, only to have the owners sell the business and make a killing. Becoming a franchisee of your own business allows you to build equity for yourself and your family’s future. This is the appeal for most new entrepreneurs.
You may be ready to buy a business, yet you’re nervous about going it alone. You may consider investing in a business that you don’t have to run, or maybe finding a partner who can share the responsibilities and rewards with you.
We have great news for you! Franchise ownership is the best way to build a business portfolio retirement plan. Franchises are created with systems that make them easier to duplicate. Because franchises are easier to own and operate, many franchisees are excited to own and operate multiple locations which will create passive income that will last for many years. Your efforts today become an equity-building asset that can sell for a very high multiple of your annual cash flow. This gives you a variety of options. Your Franchise Bible Coach team will factor in your long-term goals including your desired exit if that is something that is important to you.
Even if this isn't a priority now, you will be creating an equity-building asset with your franchise company that will be worth much more than just having one (non-franchised) local business. Franchise companies can sell for a very high multiple of the annual cash flow. This gives you a variety of options. Our Franchise Bible Coach team will factor in your long-term goals including your desired exit if that is something that is important to you.
Good for you! Most businesses see revenues that ramp-up over time before they hit or exceed the break-even amount. Since you have financial resources that will allow you to operate without drawing a salary right away, you will have more options to choose from. Your Franchise Bible Coach will stick with you every step of the way.
Since income will be needed right away, your Franchise Bible Coach will present franchise opportunities with shorter start-up times and lower investments so you can choose a business model that allows you to earn faster.
Great! This will open you up to far more options. The food category is the largest in franchising. This category includes full-service restaurants, fast-food, fast casual options, food trucks, coffee cafes, smoothie bars and many more.
While the food category is the largest in franchising, it’s not for everyone. Your Franchise Bible Coach will work with you to determine the best non-food options that are available.
The Franchise Bible Coach program has been designed to make the franchise buying process more balanced, easier, and faster than the traditional method of “going it alone.” Your Franchise Bible Coach will do the research to identify the best options that align with your goals and expectations. We will also provide resources for start-up financing to help you fund your new business, if needed.
Franchising isn't for everyone. We never pressure people into franchise ownership if it’s not a good fit, or if the timing isn't right. We want to make sure that you are ready, willing, and able to succeed as a franchise owner before we start your research. You may have had a negative experience with a franchise that has tainted your opinion of the franchise model or franchising in general. Your Franchise Bible Coach will work through your concerns to see if we can show you the many benefits that the franchise model can create for your business-ownership goals. If franchising isn't a good fit for you, we will be happy to give you recommendations for other business options.
This level will allow you to purchase a smaller investment home-based franchise for all cash, or this will allow you to get financing for a larger investment home-based or mobile franchise business. These businesses tend to be one-person operations that don’t require franchise owners to hire additional staff which makes management much easier than with one of the larger investment franchises. The speed to opening and return on investment (ROI) is typically faster as well since there is no buildout or construction that is required for a brick-and-mortar model.
This level will allow you to purchase a smaller investment home-based franchise for all cash, or this will allow you to get financing for a larger investment mobile or smaller brick-and-mortar franchise. These businesses tend to require additional staffing beyond being a one-person business, so the management is more complex than smaller investment franchises. The speed to opening and return on investment (ROI) is typically slower as well since there may be build-out or construction if you opt for a brick-and-mortar model over a mobile business.
This level will allow you to purchase a small investment mobile franchise or small brick-and-mortar for all cash, or this will allow you to get financing for a larger investment brick-and-mortar franchise. These businesses tend to require additional staffing beyond being a one-person business, so the management is more complex than smaller investment franchises. The speed to opening and return on investment (ROI) is typically slower as well since buildout or construction will be required for brick-and-mortar locations.
The great news is that you don’t need to have prior franchise ownership experience to build a successful franchise organization. Franchising is all about executing on proven processes and procedures so that customer experiences are the same, regardless of where your franchise is located. In addition to helping you find the best franchise for your goals and expectations, our team has decades of experience in all aspects of the franchise industry so we can answer any questions you may have – both now and in the future. Our Founder and Head Coach, Rick Grossmann, actually wrote the book on franchising. Entrepreneur Magazine’s Franchise Bible is the best-selling book on how to franchise a business or buy a franchise. Entrepreneur chose Rick due to his vast real-world experience starting and growing franchise organizations. He has included his proprietary Franchise Bible Coach strategies and franchise industry best practices in all of our systems to make the franchise buying process easy and stress-free, with the goal of getting you the best deal on the franchise that is your best fit.
This is great. You already know the value of franchising and how it translates to successful business operations. You don’t need to have prior franchise ownership experience to build a successful franchise organization. Franchising is all about executing on proven processes and procedures so that customer experiences are the same, regardless of where your franchise is located. In addition to helping you find the best franchise for your goals and expectations, our team has decades of experience in all aspects of the franchise industry so we can answer any questions you may have – both now and in the future. Our Founder and Head Coach, Rick Grossmann, actually wrote the book on franchising. Entrepreneur Magazine’s Franchise Bible is the best-selling book on how to franchise a business or buy a franchise. Entrepreneur chose Rick due to his vast real-world experience starting and growing franchise organizations. He has included his proprietary Franchise Bible Coach strategies and franchise industry best practices in all of our systems to make the franchise buying process easy and stress-free, with the goal of getting you the best deal on the franchise that is your best fit.
Your prior franchise experience will serve you well as we help you consider other franchise brands to add to your portfolio. You already know that franchising is all about executing on proven processes and procedures so that customer experiences are the same, regardless of where your franchise is located. In addition to helping you find the best franchise for your goals and expectations, our team has decades of experience in all aspects of the franchise industry so we can answer any questions you may have – both now and in the future. Our Founder and Head Coach, Rick Grossmann, actually wrote the book on franchising. Entrepreneur Magazine’s Franchise Bible is the best-selling book on how to franchise a business or buy a franchise. Entrepreneur chose Rick due to his vast real-world experience starting and growing franchise organizations. He has included his proprietary Franchise Bible Coach strategies and franchise industry best practices in all of our systems to make the franchise buying process easy and stress-free, with the goal of getting you the best deal on the franchise that is your best fit.
Your Franchise Bible Coaching team will help you understand the marketing demands and the franchisor marketing resources of each option we present to you. Some franchise models require the franchise owners to do all of the marketing and sales which requires the appropriate skillset to operate effectively, while others do some or all of the marketing. Our skilled coaches have sold thousands of franchises and finding our clients the best match is our specialty.
Your Franchise Bible Coaching team will help you understand the marketing demands and the franchisor marketing resources of each option we present to you. Some franchise models require the franchise owners to do all of the marketing and sales which requires the appropriate skillset to operate effectively while others do some or all of the marketing. Our skilled coaches have sold thousands of franchises and finding our clients the best match is our specialty.
Having an experienced franchise marketing and sales director (or Team) is an incredible asset for your business. Our team will summarize the marketing demands and the franchisor marketing resources of each option we present to you. As you may know, some franchise models require the franchise owners to do all of the marketing and sales which requires the appropriate skillset to operate effectively, while others do some or all of the marketing.
Great news! This will enable you to get started right away and you will be running your new business in no time. Your Franchise Bible Coach will start researching options based on this survey and begin your coaching sessions to get ready for franchisor interviews.
Please let your Franchise Bible Coach know any concerns you have about buying a franchise. You may opt to work with a coach for a while to get ready for franchise ownership, or to make sure that a franchise is the best option for you. You may also choose to start a business in a different way and we can help you with that also well.
