How was your franchise/opportunity originally conceived and started?
Money Mizer started as a family business in which its potential has grown into a proven successful business model.
What was your original vision for your company? How has that changed over time?
Once we experienced the success of our first store, our original vision was to open multiple corporate stores. Once we experienced the success of multiple corporate stores, we decided to offer franchises to help build our brand, build strong foundations in the communities we operate in, and help those who are looking to secure their future with a proven, stable business model.
What do you believe is the single most important factor when choosing a franchise?
Growth, not just a job but also an investment that one can sell in 10-15 years for a generous profit.
Why should someone choose your franchise over other similar franchises?
We are not your everyday business. Our industry offers something new everyday. It is full of fun and excitement.
What makes your industry attractive?
Offers multiple streams of revenue
What types of qualities do you look for in potential franchisees?
Amiable, results driven
What do your franchise fees and royalties cover?
Our franchise fees cover initial training, traveling and support. Our royalty fees cover ongoing assistance and support, advertising agents, access to intranet and online employee training modules, access to real-time inventory or all of our stores, corporate audits and assist with ATF compliance inspections.
How do territories work for your franchisees?
We offer area development agreements.
Why has your franchise model been successful?
Niche banking services and competitive retail pricing which offers franchisees multiple streams of revenue.
Where do you see your franchise in 5 years and 10 years?
We anticipate slow to moderate growth, as we strive to focus our full attention to our franchisees.
What is your favorite advice for new franchisees to help them succeed?
We advise our new franchisees to use their interpersonal skills to build a consistent customer base that views our company as reliable and trustworthy. Ultimately, our customers are the bases of our business and the better we take care of them the better they take care of us!
What would you tell potential franchisees that may be nervous about the financial burdens of starting a franchise?
Our business model is based on consistent growth. Franchisees can expect slow growth that will quickly build momentum and excel for years to come. The average store does not hit their growth plateau until after roughly 10 years of operation.
On average, how long does it take to start a new franchise from the franchisees point of view?
What was your background and experience before founding this franchise?
Over 35 years of success with our corporate stores in the pawn industry.