“An entrpreneur is an owner or manager of a business enterprise who makes money through risk and initiative.”
With that definition in mind, are you an entrepreneur or business owner..or both? Have you taken the plans given to you by the franchisor and made no changes. Did you get creative with guerrilla marketing, new ad campaigns, etc.? How have you made YOUR business yours?
Better yet, what’s your definition of an entrepreneur?
Franchise Gator recently sat down with Rebecca Viani, VP of Operations for Plan Ahead Events, to tell us a little more about their franchise opportunity
One thing that all franchisees should be doing, is taking advantage of the powerful branding their parent company has and using it to their advantage.
When I say branding, I mean the name, design, and/or logos that are nationally recognized. These things will help you connect your business to the larger corporation you’re representing. The use of branding helps to differentiate yourself from other competitors and relate to any national campaigns already in place.
If you are reading this blog the there’s a good chance that means you submitted your information and requested to learn more about one or more concepts found on Franchise Gator. First of all, thank you very much for using the site. We hope that you continue to lean on us as you search for the perfect opportunity.
So what’s next? Well, I’m glad you asked. Let me help you answer that with yet another question – are you ready to get on the phone with the franchisors? If you answered “yes”, then you probably know what you want in an opportunity. You know what questions to ask to help you find the concept that fits your needs.
But if you answered “no”, it doesn’t mean you aren’t serious about your pursuit. It just means you aren’t educated on how to properly shop for a franchise. Do you know what questions to ask? Do you even know how to spot a good opportunity if you come across one?
I will cover these subjects in future posts, but know these 2 things:
1) The key to finding the right opportunity is to educate yourself on the buying process.
2) Franchise Gator can help you get the education you need.
Our chief resource is The Educated Franchisee – by Rick Bisio. Rick is a good friend of Franchise Gator. His passion for helping entrepreneurs find the right franchise rivals ours, and we’re excited to incorporate his information onto the site. You can find summaries of his writings in our article section. I recommend starting here – What’s Stopping You?
One last note, regardless of where you are in the decision making process, you’ll start to hear from the companies that you requested information on. Make sure to respond to them promptly, either informing them of when you are free to speak or that you are not ready to do so at this time. When you request information on Franchise Gator, the companies that receive your request assume you wish to speak. If you don’t respond otherwise, they will continue to call and email, assuming you are just hard to reach.
Back before the financial crisis in the US, franchisers rarely got involved with the loan process. It wasn’t needed; Franchisees had few issues going through banks and getting approved. Today is vastly different. Banks aren’t lending as much and in many cases, have upped requirements. So what’s a franchisee to do?
When an entrepreneur starts looking into franchise opportunities, a lot of research and time should be put into the decision but this isn’t always the case. All factors, from location to the franchise agreement should be thoroughly checked and researched. There are many things a potential franchisee should watch out for, consider the following:
Finding a job in today’s market is tough, even for seasoned professionals. Businesses are focusing on getting the highest yield for the lowest cost, and sometimes that means hiring is slim to none. A current trend in the market is become an entrepreneur and start working for yourself. In a sense, some of these entrepreneurs have been forced into working for themselves to make ends for their families.