This document provides an overview of entrepreneurship, franchising, jobs, and the differences between starting a business and purchasing a franchise. It discusses what will be covered, including definitions of entrepreneurship, franchising, and jobs. Statistics are presented showing franchises have over a 90% success rate while independent businesses have under a 20% success rate after 7 years. Advantages of franchising are outlined such as brand recognition, training and support, and lower risk compared to starting a business. The document concludes by discussing the future growth of franchising.
How to define yourself to your target audience and not let the market to define you. High Net Worth clients want to hear that you understand their needs, goals and aspirations before they allow you over their walls.
Entrepreneur or angel investor interview. Rajat_upmanyu
This projects includes the interview of different angel investor and Entrepreneurs discussing upon the benefits and limitations of raising fund from Venture capitalist.
How to define yourself to your target audience and not let the market to define you. High Net Worth clients want to hear that you understand their needs, goals and aspirations before they allow you over their walls.
Entrepreneur or angel investor interview. Rajat_upmanyu
This projects includes the interview of different angel investor and Entrepreneurs discussing upon the benefits and limitations of raising fund from Venture capitalist.
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Visit our SlideShare to learn from our partner, Credit Karma, why you should check and build your credit report, best practices for establishing financial health, and how to recover from debt.
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Maya Smart and Joe Grimm present "How to Be an Entrepreneur as a Business Journalist," a Webinar hosted by the Donald W. Reynolds National Center for Business Journalism. For more information, visit http://businessjournalism.org.
How one professional firm went from start up to $65 million in 10 years. Organizational design matters when it comes to growing and developing professional staff.
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Call for a standard framework for clinical risk management program to ensure ...Ruby Med Plus
Globally, the patient safety movement got focused in risk management by the publication of “To Err Is Human: Building a Safer Health System”, in 1999, which articulated the findings of a study of Institute of Medicine (IOM) of the devastating consequences of widespread medical error in the hospitals in USA. In addition to the unfortunate health consequences of medical error, there are direct and indirect costs borne by society as a whole. Patient Safety is the fundamental of the health care system. If care is not provided in a safe manner in a safe environment, the chances for a good outcome are lessened significantly.
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My Money Story Series: Credit Karma Talks Finances, Credit, and DebtKabbage
Visit our SlideShare to learn from our partner, Credit Karma, why you should check and build your credit report, best practices for establishing financial health, and how to recover from debt.
Introducing 100 outsourcing Techniques:Inside this ebooks,you will discover the techniques such as it seems likely that you can employ workers administrating, it has been said that you can salary laborers analyzing a like minded view is you can rent services assistant , it make sence that you could sign up businessfor auditing,with good luck you could enlist freelancer for bartering ,more often than no you,you can obtain workers for constructing ,it should be noted that you could find employees for consulting and so much more.
Maya Smart and Joe Grimm present "How to Be an Entrepreneur as a Business Journalist," a Webinar hosted by the Donald W. Reynolds National Center for Business Journalism. For more information, visit http://businessjournalism.org.
How one professional firm went from start up to $65 million in 10 years. Organizational design matters when it comes to growing and developing professional staff.
Future is what you create! Most leaders like Eber Devine believes that challenges and success are two sides of the same coin and we couldn’t agree more. Furthermore, they say, who understand and follow this simple quote are heading to become a great leader.
In this file, you can ref dental nurse interview tips with interview questions & answers, other dental nurse interview tips materials such as: interview thank you letters, types of interview questions
Call for a standard framework for clinical risk management program to ensure ...Ruby Med Plus
Globally, the patient safety movement got focused in risk management by the publication of “To Err Is Human: Building a Safer Health System”, in 1999, which articulated the findings of a study of Institute of Medicine (IOM) of the devastating consequences of widespread medical error in the hospitals in USA. In addition to the unfortunate health consequences of medical error, there are direct and indirect costs borne by society as a whole. Patient Safety is the fundamental of the health care system. If care is not provided in a safe manner in a safe environment, the chances for a good outcome are lessened significantly.
As, Institute of Medicine (IOM) noted, “Patients should not be harmed by the care that is intended to help them, nor should harm come to those who work in health care.” The goal of risk management in health care must be to prevent harm from reaching patients and those involved in providing care to those patients and the place where the care is being provided . The aim of Clinical Risk Management is to improve both the safety and quality of care for patients and to reduce the costs of such risks for health care providers ” Hence, the Clinical Risk Management program needs a standard framework to fulfill this objective of Clinical Risk Management in clinical Dentistry. It gives the realization to the Dentist / Dental Team that fallibility is part of the human condition and human condition can’t be changed, but the conditions under which people work can be changed. That explains the need of Clinical Risk Management in Dentistry.
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Andreas Schleicher (Special advisor to the Secretary-General of the OECD on Education Policy - Head of the Indicators and Analysis Division of the OECD Directorate for Education)
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The franchisor is providing a structure for the franchisee to follow, yet its up to the franchisee to take responsibility for his or her business growth and success.
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The Upside Downside & Inside of Finding a Great Business
Presentation1
1.
2. Welcome
Welcome
About me
Commercial Lender
Human Resources Professional
Business Owner of Essentials of Human Resources
Founder, Own Your Next Career, LLC.
3. What we will cover today
What is an Entrepreneur or a Franchise
The Difference between a job, start up business and a Franchise
Success rate of a Franchise
Franchise Myths versus Facts
SBA Approved Franchise List
SBA Failure Rate of Franchises
Why Franchising
4. Entrepreneurship
From Wikipedia, the free encyclopedia:
Entrepreneurship is the process of starting a
business or other organization. The entrepreneur
develops a business plan, acquires the human and
other required resources, and is fully responsible
for its success or failure.
5. Franchising
From Wikipedia, the free encyclopedia:
The practice of the right to use a firm's business model and brand for a
prescribed period of time. For the franchiser, the franchise is an alternative
to building "chain stores" to distribute goods that avoids the investments and
liability of a chain. The franchisor's success depends on the success of the
franchisees. The franchisee is said to have a greater incentive than a direct
employee because he or she has a direct stake in the business.
Essentially, and in terms of distribution, the franchisor is a supplier who
allows an operator, or a franchisee, to use the supplier's trademark and
distribute the supplier's goods. In return, the operator pays the supplier a fee.
Thirty three countries—including the United States and Australia—have laws
that explicitly regulate franchising.
6. Job
From Wikipedia, the free encyclopedia:
A job is an activity, often regular, and often performed in
exchange for payment. A person usually begins a job by
becoming an employee, volunteering, or starting a business.
The duration of a job may range from an hour (in the case of
odd jobs) to a lifetime (in the case of some judges). The
activity that requires a person's mental or physical effort is
work (as in "a day's work"). If a person is trained for a certain
type of job, they may have a profession. The series of jobs a
person holds in their life is their career.
7. What are the differences?
Job
• Your get annual raise maybe
• You get two weeks vacation
• Your tax bracket doesn’t
allow for certain write-offs
• You need permission for
personal time off
• Your performance is not as
valued it is within the
“budget” or “profit margin”
Your Own Business
• You have to do all of it on
your own
• Balancing life work can be
difficult
• You enjoy tax advantages
• Time off may be difficult
• Getting a business loan is
difficult
Franchise
• You have a system that is a
successful proven model
• You can balance life work
and time off
• You enjoy tax advantages
• You are never alone you
have support from the
franchise system
• Getting a business loan is
easier
• Regulated State & Federal
laws
10. Your Own Business versus a Franchise
Your business Startup
No brand identity
Advertising needs to determine
Uncontrolled costs to ramp up
Website development, logo, legal,
accounting needs to worry about
Franchise
Brand image established
Recipe for advertising
Controlled costs to manage
Assistance provided for Website
development, logo, legal, accounting needs
11. Your Business Startup
Site selection and lease negotiation
You don’t get a day in the life
Opening day-then your own your own
Can’t obtain financing for growth or cash
flow
Your on your own
Slow start
Franchise
Demographic analysis and assistance with
site negotiation/lease agreement
Discovery day allows you to experience a
day in the life
Grand opening and ongoing support and
training
Lenders prefer proven franchise models
The franchisor wants the brand to succeed
thus they support your ongoing efforts
Quick start, systematic approach
Risk is Minimized
13. Franchise Ownership Myth or Fact
Myth
The royalty will cost you
You can stray from their system
Loans to grow my business is hard
to obtain
Fact
It is to used to market your brand,
ongoing support, training
Business suffers if you detract from
their proven methodology
Lenders prefer Franchise lending
over entrepreneurial unproven
companies
17. Disadvantages of Franchising?
You need to conform to the standards
Fees
Aligning with a weak franchisor
Reliant on franchisors success
Duration of the agreement
18. Is Franchising Right for you?
“I’m in business for myself, but not by myself”.
“I want a ‘bottled’ process for success that I can use in
developing my own successful business.”
“I have the opportunity to learn from the success and
failure of others.”
“Why would I work for someone else when I can work for
myself and reap the rewards of my efforts?"
"Why would I spend years and the investment required to establish a successful brand
when I could buy a franchise which provides immediate access to a successful business
system and a brand name which others already have made successful?"
19. Did you know?
1. One in every 12 businesses in the US is a franchise.
2. Franchises account for about 50% of all retail and food sales in the US.
3. Over 90% of franchises are still in business after 7 years while less than 20% of
independent businesses are in business after 7 years.
4. Franchise investments range from less than $25,000 to over $1 million, with
the national average being about $225,000.
5. Franchising currently represents over 75 different industries.
6. Each year the International Franchise Association polls thousands of
franchisees and over 90% asked answer “Yes” to the question, “do you
consider your business a success”.
20. Why franchising makes sense
TRAINING & ONGOING
SUPPORT
Franchising offers aspiring, new
business owners the best
possible chance of succeeding
with the least risk.
RISK MINIMIZED
GROWTH &
OPPORTUNITY
BRAND RECOGNITION
FRANCHISING IS EXPECTED TO COMPRISE
OVER 50% OF THE RETAIL ECONOMY WITHIN A
DECADE, ACCORDING THE FRANCHISE
ECONOMIC OUTLOOK INDICATORS.
A WELL-KNOWN NAME CAN BRING
CUSTOMERS INTO THE BUSINESS AND
PROVIDE A COMPETITIVE ADVANTAGE FOR
THE FRANCHISEE..
PROVIDES TRAINING ON BUSINESS
OPERATIONS AND ONGOING MANAGERIAL
SUPPORT AND PROBLEM-SOLVING
CAPABILITIES FOR FRANCHISEES.
21. Why franchising makes sense
ECONOMIES OF SCALE
MOST FRANCHISES WILL ASSIST
WITH REAL ESTATE EXPERTS.
COOPERATIVE
ADVERTISING PROGRAMS
Provide local national
exposure at an
affordable price.
PROVEN BUSINESS
MODELSITE SELECTION
PROVIDES BUSINESS
LEVERAGING POWER AND
VOLUME PURCHASING SAVINGS.
FRANCHISING OFFERS YOU THE ABILITY TO
TAKE A GUIDED STEP INTO A PROVEN BUSINESS
FOR YOURSELF, BUT NOT BY YOURSELF.
22. RESEARCH
WHAT’S THE COST
At no cost to you. Consultants are
paid a finders fee by the franchisor.
The is outsourced by the franchisee to
lower their advertising costs.
GUIDES YOU THROUGH
THE PROCESS
Consultants educates the buyers,
analysis your qualifications and fit you
to the right company throughout the
whole process.
PROVIDES A NETWORK OF
RESOURCES
Having resources available through the
process will assist you during the
negations.
SAVES YOU TIME AND
MONEY
RESEARCH
COMPLIMENTARY
CONSULTANT
WE TEACH YOU WHAT THE FRANCHISORS
ARE LOOKING FOR IN A CANDIDATE, HOW
TO INVESTIGATE A FRANCHISE AND WHAT
QUESTIONS TO ASK.
EXACTLY THE SAME WHETHER YOU
WORK WITH A CONSULTANT OR BUY
DIRECT.
VETTED FRANCHISES, WITH A PROFILE
ON EACH ONE.
23. The Future of Franchising
You are in the right place at the right time.
• People are disenchanted with corporate jobs, because of the dot.com failures and
the corporate scandals.
• 20-34 year olds are going into business for themselves three times as frequently
as 35-55 year olds, many looking at franchising.
• The “Baby Boomers” are retiring from their jobs, but are too young to truly retire.
• Women are going into business at twice the rate of men, and many looking at
franchising.
• Minorities – another fast growing groups are going into franchising.
*20-34 year old info comes from “Tips and Traps When Buying a Franchise, by Mary Tomzack page 41
*Women quote in same book, on page 36, quoted from a Department of Commerce study.