Out On Your Own 2009


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Out On Your Own 2009

  1. 1. The Entrepreneur’s Source <ul><li>Everything you wanted to know </li></ul><ul><li>about Franchising </li></ul><ul><li>but didn’t know who to ask </li></ul><ul><li>John Culliney MBA </li></ul><ul><li>The Entrepreneur’s Source </li></ul>
  2. 2. Beyond Mc Donald's - Food for Thought <ul><li>Starting your own business. </li></ul><ul><li>What is Franchising </li></ul><ul><li>Advantages/Disadvantages & Benefits of Franchising </li></ul><ul><li>Why is Franchising so successful </li></ul><ul><li>Finding the right Franchise </li></ul><ul><li>Why would an Entrepreneur look at the franchise option </li></ul><ul><li>Do I have what it takes to own a franchise. </li></ul>
  3. 3. Starting A New Business <ul><li>Advantages Disadvantages </li></ul><ul><li>Lower start-up cost Requires more time and effort </li></ul><ul><li>Independence and creative High risk of failure </li></ul><ul><li>freedom High start-up costs </li></ul><ul><li>Freedom with location and Takes longer to become </li></ul><ul><li>procedures profitable </li></ul><ul><li>An opportunity to draw Financing may be more </li></ul><ul><li>on you past experience. difficult to obtain </li></ul>
  4. 4. <ul><li>A franchise is the agreement or license between two independent parties which gives: </li></ul><ul><li>A person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor) </li></ul><ul><li>The franchisee has the right to market a product or service using the operating methods of the franchisor </li></ul>What is a Franchise
  5. 5. Advantages of owning a Franchise <ul><li>Owning a franchise allows you to go into business “for yourself, but not by yourself” – training, consulting & coaching. </li></ul><ul><li>A franchise provides an established product or service which already enjoys widespread brand name recognition. </li></ul><ul><li>A franchise increases your chances of business success because you are associating with proven products, a brand name and methods. </li></ul>
  6. 6. Disadvantages of owning a Franchise <ul><li>The franchisee is not completely independent. </li></ul><ul><li>Manage the business within the boundaries of the agreement. </li></ul><ul><li>Loose total creative freedom. </li></ul><ul><li>Exposed to a culture or market direction change. </li></ul>
  7. 7. Benefits <ul><li>Access to live information – “pre-investment” </li></ul><ul><li>Proven formula </li></ul><ul><li>Quick “turn-key” operation </li></ul><ul><li>Cooperative buying power </li></ul><ul><li>Instantaneous Goodwill </li></ul><ul><li>Established Brand recognition </li></ul><ul><li>On-going support & success tools </li></ul><ul><li>You have the benefit of other owners experience </li></ul>
  8. 8. Why is Franchising so Successful? <ul><li>A proven system </li></ul><ul><li>Training and ongoing support </li></ul><ul><li>Being in business for yourself, </li></ul><ul><li>but not by yourself </li></ul><ul><li>Win-win relationship … </li></ul><ul><li>starts with mutual benefits </li></ul><ul><li>and grows from there </li></ul>
  9. 9. Why do Businesses fail? <ul><li>There are many reasons for failure: </li></ul><ul><li>Lack of skills </li></ul><ul><li>Lack of resources </li></ul><ul><li>Working “in” the business </li></ul><ul><li>not “on” the business </li></ul>
  10. 10. How Successful is Franchising? Most are still in Business after 10 years
  11. 11. What are Franchisors Looking For? <ul><li>Owner…not a Technician </li></ul><ul><li>Transferable skills </li></ul><ul><li>Willingness to follow a system of procedures </li></ul><ul><li>Ability to execute </li></ul>
  12. 12. Questions To Ask Yourself <ul><li>Do I know why I’m getting into business? </li></ul><ul><li>Am I willing to follow the process? </li></ul><ul><li>Am I willing to work hard? </li></ul><ul><li>Do I have access to start-up capital? </li></ul><ul><li>Can I support myself during the early months? </li></ul><ul><li>Are family & friends supportive? </li></ul><ul><li>Will I do whatever it takes to ensure success? </li></ul><ul><li>Does the business model support my goals? </li></ul>
  13. 13. Finding the Right Franchise <ul><ul><li>Education </li></ul></ul><ul><ul><li>Profiling </li></ul></ul><ul><ul><li>Validation </li></ul></ul><ul><ul><li>Selection </li></ul></ul><ul><ul><li>Success </li></ul></ul>Where Do You Begin?
  14. 14. <ul><li>About us : The Entrepreneur’s Source </li></ul><ul><li>A coaching organisation that works with entrepreneurs and individuals who are exploring start-up or self employment, & businesses who are wishing to expand and improve results </li></ul><ul><li>Our tools are education, coaching, and the knowledge of hundreds of franchise and other system-based opportunities available worldwide </li></ul><ul><li>95% of our successful clients end up in opportunities that they would not have explored on their own, or would have prematurely dismissed </li></ul>“ Your success is our only Business”
  15. 15. &quot;If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much.&quot; Jim Rohn The Entrepreneur’s Source
  16. 16. The Entrepreneur’s Source <ul><li>THANK YOU </li></ul><ul><li>John Culliney MBA </li></ul><ul><li>The Entrepreneur’s Source </li></ul><ul><li>0862532704 </li></ul>