Franchising the American Dream
Many people desire to be their own boss and live the American Dream of owning a business. Franchising offers a template or guide to business models that have seen success at different levels. Franchise opportunities (or any other business opportunities, for that matter) come with risk, so please seek guidance from legal and financial professionals before making any decision.
This site is operated by a group of serial entrepreneurs, business executives and industry leaders designed to help you find the best business opportunities. Collectively this group has had 3 dot-com sales, sold several businesses, started even more… worked with many of the top franchise organizations like McDonalds, Pepsi, Taco Bell, CompUSA , Blue Cross and more.
The Upside to Franchising
- Support from the franchise, as well as the community of like-minded business owners in the same business, living the day to day challenges with you.
- Training from industry leaders and market experts with a track record.
- Marketing efforts pooled to provide better access.
- Group buying power allows for deep discounts you can’t typically get by yourself.
- Roadmap to success or a plan that has been worked through in the past that has proven results as long as you work the plan.
- Great upside income opportunity for successful franchise owners.
- Opportunity to create future wealth when you sell or exit.
- Reduced learning curve with the fortune to learn from others’ mistakes.
You probably found this website because you have that burning desire to do more, be more, and you want to feed that inner entrepreneurial spirit you have probably had inside from birth; but are now finally ready physically, financially or at a stage in your life where it’s time for a life choice. No matter why you are hear, understand this: we are with you. As “serial entrepreneurs,” we have seen many opportunities along with every level of success and failure. We can help answer many of the questions you might have, as wells as provoke many questions that you may not have thought of asking.
Let’s get started with some of our most asked questions:
Where is the best place to start a franchise?
Franchise Opportunities Austin TX
Austin Texas is searched more than any other city in the world for franchise and business opportunities. With its diverse culture and the fact that over 1000 people a day are moving to Texas, it is ripe with opportunities.
For tax purposes, you may choose Delaware for incorporation – or even an off-shore business – but discuss your tax strategy with a professional before committing to any plan.
How much does it cost to franchise?
Franchises under 20k
It seems that many people look to start their business when they have about $20,000 saved up. There are several models on the market that fit that bill but you are likely going to need more than that if you really want to start a business, as opposed to simply creating a job. We also believe you need to either have an additional 2 years of income set aside, or the ability to pay the bills for 2 years without taking money from your new business; because your new business is going to require reinvestment!
- Jiffy Lube
Everyone knows the top 20 franchises on all the bests list. We have a section for those called “BLUE CHIP,” and if you can afford them or have a passion for that type business, we suggest you take a look.
What we would like to focus on are some of the better value opportunities – ones that require fair start-up cash but have the potential to deliver results.
Based on the following factors, we have set up some opportunities that you may not have considered. To help you navigate these choices, try first answering the following questions :
- What am I passionate about?
- What would I love to do 50 hours a week for the next 10-30 years?
- Do I have any unique skills or experience that are duplicatable?
- Do I want a job, or do I want to “own and manage a business?”
- Do I want to be hands on, or hands off?
How you answer the above question may be a good indicator of the direction in which you should proceed.
PASSION: If you don’t have a passion for flipping burgers, managing 30-100 teenagers and a heart for service, franchises like McDonald’s might not be your best choice, no matter how much money you might stand to make. Maybe you should consider seeking out a niche opportunity more in line with your passion and gifting instead.
TIME & EFFORT: If you did not instantly think (insert the name of the franchise you have on your mind here), then you might want to look at a smaller opportunity that fits your budget and desire. Most “Blue Chip” opportunities will require 5-10 years to really get to the point of becoming the Owner instead of the Doer!
UNIQUE SKILLS: If you have unique skills and like to teach others, maybe you should look at franchise opportunities that fit that specific skill set. You could even possibly consider creating your own franchise to leverage the unique skills that you have. Every franchise company was started by someone!
JOB versus BUSINESS OWNER: This is a hard one because many franchise opportunities are actually OWNER/OPERATOR models, and you become the center of the business – which turns out to be more like a job in the long run. This model works well for many people, but beware: you might get that 2 a.m. call from an employee who can’t balance the cash drawer; or that 6 a.m. text that your opener can’t be there and you have to rush in to open the store yourself. Many opportunities require a 24/7 availability that makes the owner feel more like an employee.
HANDS ON or HANDS OFF: Do you want to work toward a business that one day can run itself and generate revenue while you are away 50% of the time? Or are you okay with having to be physically involved in the business on a daily/weekly basis?
These are just a few of the things you should think about when deciding what the best franchise or business opportunity might be for you.
If your heart says “Yes!” I want to be my own boss, but your head is saying “Slow down make a wise choice,” then connect with us! We will be happy to point you down a path that you may not have considered, or even knew existed.
Frequently Asked Questions You Forgot to Ask
What type of company has the highest multiples when selling?
Software as a Service (SAAS) companies are the top multiple businesses and are the ones you might have heard are fetching the 10x and 20x multiples upon exit – but those are all based around a unique business proposition or unique concept, typically in support of a larger industry or concept.
Do I Want an “Eat What I Catch” business, or a “Perpetual Revenue Business?”
Do I want to wake up every day and make sandwiches? And do I want to have to count on enough sales or services coming in every single month to make payroll, employees and mortgage…? Or do I want to choose slow and steady with a business like insurance, that creates residual revenue so that over time I create ongoing cash flow from work or energy expended in the past? These tend to make the owner more money in the long run but take longer to build.
Do I Need Quick Cash?
The best way to generate quick cash is to pay a premium for a fully operational business that is putting off enough cash flow to meet your needs and you just step in as the new owner. What this scenario requires, of course, is that initial high-level cash layout, whether from investors, friends & family, or a traditional loan.
Do I Want Quick Upside?
Many franchises are owned and operated by long-time franchisees who may not have done the best job at managing that franchise, or marketing, or keeping up with current trends, forcing the corporation into the position of buying back that location; or there may have been a death, etc… Ask the franchisor if they have any depressed inventory that you could come into with little cash, but with fresh eyes and new life, offering the turn around an operation creating new revenue for all parties.
Can I Work and Earn?
Many franchise owners will allow you to work for them at their franchise concept, and over time take over or help open a new location where you can build sweat equity. This is a lost cost way to get your own business.
Should I Think Out of the Box?
Maybe you have a skill or past experience that has you connected to an entire industry, which could allow you to become an industry leader by creating a franchise or business opportunity from scratch, with you or your business as the brand, and your connection to that industry as the springboard.