The Quickest Way to Start YOUR Successful Business!

Written by Jim Otto

Of all the reasons to choose a franchise versus going it alone, ramp-up time is one of the most import. I get called from time to time and the conversation typically goes something like this, "Hey, I found you guys online. I have a GREAT children's salon and I really think you guys might be interested in buying it!" I will tell you from experience the two phrases, "great business" and "I want to sell it" don't really go together. Typically when I am presented with the numbers, there's one thing that stands out: the business took a long time to ramp-up, which caused the business owner to burn through a lot of his working capital. In a well run franchise system your ramp-up time should be greatly accelerated for the following reasons:
 
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Franchising Your Retirement

Written by Jim Otto

Many of you may never have seen this before, but the Social Security Administration used to send you in the mail what your monthly Social Security benefit would be at retirement (this info can now be accessed online on their website). What always stuck out to me was a statement on the front page, " Social security should not be your only source of retirement income, you will need to have other sources of income at retirement".   
 
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Why Your Franchise Isn't Performing Like You Thought It Would

Written by Jim Otto

I was recently on a website where franchisees can go to complain about there franchisors. The common  theme amongst the complaints was that the franchisor made a lot of promises that they didn't keep, the numbers weren't adding up like the franchisor said they would and they weren't being trained properly.
 
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Why You Picked the Wrong Franchise

Written by Jim Otto

I was floored recently when I talked to a friend of mine about the franchise she bought. You see this wasn't what  I would call your "typical" franchisee. Jane (as I will call her for the sake of this blog) has been in the franchise consulting business for 25 years. She has trained and taught both franchisees and franchisors about what to look for in a franchise, how to run a successful franchise business and what makes franchisees successful. 

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