Joel Libava's Blog: The Franchise King Blog, page 92

Should You Buy a Franchise if You Can't Find a Job?

? ? ? ? ? ? ? ? ? ? 

 

Absolutely!

 

 

 

Not.

 

You'll have enough pressure on you when you start a franchise business. You don't need the added pressure of immediate income replacement. Read what I wrote concerning the reality of making money early on as a franchise owner.

 

Let's say that you've been out of work for 8-9 months, and haven't had one solid job offer. If you've been lucky enough to get unemployment checks mailed to you, all the better at this low time in your life. And, it is a low time.  I don't care how many upbeat local networking events you go to; being unemployed sucks. I know. I've been there, myself. Plus, I'm so sick of That Word. You know…..Downsized.

 

What doesn't suck about being unemployed is this;

 

Being able to take some time to look at career alternatives. yep; like franchise ownership.

 

Now, just because I wrote a book geared towards those that are thinking of becoming franchise owners, doesn't mean that I drink Franchise Industry Flavored Kool-Aid. Franchising is not perfect. And, it's not really right for most people.

 

 

The Kool Aid.

 

Here's how I feel about opportunities in franchise ownership;

 

 

If enough things line up in your favor, including having the right personality for the franchise business model, having sufficient financial resources, living in a location that can support the franchise concept, plus several other things that you'll learn about in my franchise book, then becoming a franchise owner can be a home run.

 

As my friend, supporter, and true small business advocate, Jim Blasingame says; you can write that on a rock.

 

Becoming a franchise owner is an option that's worth exploring, if you feel that the franchise business model, in all it's rigidity, is something you can deal with for about 10 years. (That's the length of an average franchise agreement.)

 

I started off by asking if you should buy a franchise because you can't find a job. It's a really important question, especially now. Unemployment (as of this writing) remains incredibly high. Home values are not what they used to be, so you may not have as much equity to use for leverage-for part of your up-front franchise business investment. Banks have been on the uncooperative side. (Don't let that deter you, though.) There are some great companies that have been successful in helping find franchise loans.

 

Apply for a Franchise Loan Here

 

I don't think that you should invest your money in a franchise just because you can't find a good job.

 

You should become a franchise owner because you want to "own what you do." In other words, you feel that you're ready to transfer control; from them back to you. (By "them," I mean your bosses.)

 

Would you like to gain some of that control back? Contact me. I'll show you how.

 

Weekend Franchise Research

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Weekends are a great time to do franchise research. It used to be that you had to go to your local library, and pour through several different books, magazines, and other assorted publications to get the information you needed. Not anymore. (Libraries are still pretty cool places.)

Online research is here, now. I'm guessing that 95% of the people that are seriously looking at becoming franchise owners have PC's at their homes, and use them for researching everything. It's certainly become the norm.

Of course doing the right kind of research….

If you've been looking into franchise ownership for awhile, or even if you're just starting out, I recently did a webinar for the University of Northern Iowa, that's chock full of great franchise research tips, and techniques. And, UNI has made it available for you!

 

Free!

 

You'll learn how to;

 

Determine how far to go in your research

 

Great questions to ask the current crop of franchisees

 

Why you need to have a camera

 

How to find out how much money you're really going to make

 

And much, much more.

 

The webinar lasts about an hour, and it will be time well spent.

 

Royal Tips on Researching Franchises 

 

I reveal even more research tips and tricks in my upcoming Franchise Book.

 

 

 

 

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Future Franchise Owners; Wipe Your Slate Clean

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You're probably not doing your franchise search right.

 

"How do you know, Joel?"

 

I base my statement above on the hundreds…probably…thousands of conversations that I've had before, during, and after seminars that I've presented on franchise ownership over the years.

 

Let me ask you something that's off-topic;

 

When you decided to become a homeowner, (as opposed to a renter) did you know how to go about looking for your dream home?

 

I'd wager that you had to learn how to buy a house. Right?

 

Unless of course, you were born a natural home buyer…

 

Most people that I've met who were already in the process of looking around at franchises, were searching the wrong way.

 

If you're in the process of looking for a franchise or two to start investigating, I want you to stop. That's because in all likelihood, you're doing your search in reverse.

 

In my upcoming franchise book, I explain exactly where future franchise owners need to start searching for some of the top franchises that are out there.

 

You need to begin your franchise discovery process with a clean slate. Spend a few minutes with a damp rag and clean it. But don't worry; I'm going to help you figure this "franchise thing" out. You just need to make sure that you're starting in the right place.

 

I'll show you exactly where that place is, in my upcoming franchise book.

 

You have my permission to Pre-Order it right now.

 

                       :-)

 

 

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Free Webinar; Royal Tips on Researching Franchises

 

If you're  considering the idea of someday owning a franchise business, and you'd like to take steps to lower your financial risk, this free small business webinar is for you.

 

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I was approached by the staff at *MyEntre.Net, a division of the University of Northern Iowa, to put together and present a webinar outlining the steps needed to properly research a franchise business. I've done just that, and I invite you to attend this free online event, Thursday.

 

Thursday September 29th @ 1:00 pm (CT)

 

Royal Tips on Researching Franchises

 

               Register Here

 

 

You'll learn;

 

What the Franchise Disclosure Document (FDD) is

 

Who to call to find out the real deal about the franchise business

 

How to find out how much money the franchisees are making

 

Why you'll need a good camera (What?)

 

And much, much more…

 

If you're thinking about becoming a franchise owner in the near future, you'll want to attend this free webinar.

 

Go here to register for this free event. See you on Thursday!

 

* MyEntre.Net is "an entrepreneurship development system consisting of an online social network and several free web-based entrepreneurial resources, coupled with collaboratively driven services and capital for entrepreneurs in Iowa."  (Taken from the MyEntre.Net website.)

 

Exposed! The Secret Surrounding My Book Deal With Wiley Publishing

 

If you're thinking of writing a book someday, and you'd like to be approached by a book publisher like I was, there's one thing that you need to do, and it's huge.

 

Revealing the huge secret that you're about to discover has caused me several sleepless nights. In today's transparent and super-connected world, we're all supposed to be openly sharing our secrets of success.

 

My friend, Chris Brogan, (and a huge supporter of what I do) wrote, "I think if you want to be something other than another drone bee in the pile, you must contribute above and beyond. You have to give something useful. Same with everything in life. It's not enough to show up and be a great person. "  Read CB's post.

 

Chris writes about "sharing" and "openness" a lot. Whenever I hesitate to reveal something that a competitor may use, borrow, or steal, I think to myself, "What would Chris do?"

 

Chris would share what he's learned, because;

 

A. It's the right thing to do. (In his mind)

 

B. It comes back to him in spades.

 

Chris is a pretty successful guy. I believe what he says works. (Okay, Chris. I'll help you down from the pedestal I just built.)

 

The Secret

 

If you'd like a major publishing like Wiley to approach you someday, and offer you an $$ advance, here's what you need to do;

 

Keep writing.

 

That's it. Keep writing. Even if you've never had formal training.

Now, if you've taken Journalism classes at college, that is an advantage. Here's a perfect example why;

 

They grow a little, and still we watch: for things that could harm -– kitchen chairs they could topple from, the things they can choke on: the impossibly stupid stones or grapes or nickels or anything they might swallow in a flash, before we can stop it. And later, we watch them jump into the deep end, and we catch the first glimpse of the kindergarten bus rolling toward your stop. And school plays and what's-your-homework and a one more birthday candle on the cake, year after year.

We watch their hands on the wheel and their eyes on the road, the site of them running across a field or dancing across a stage or whatever it is that they love to do. We watch where they put their stuff so we know where to tell them to find it later. We watch the back of their heads when they leave and they don't turn around — which makes you wonder, for a minute, When did they stop looking back to you?

–  From my friend, and absolute favorite writer, Ann Handley (She took a Journalism class or two.)

 

Read the rest of the post that she wrote about her son's high school graduation.

 

Ann got a book deal with Wiley Publishing, too. I'm reading her book now, and it's amazing.

 

(Affiliate Link)

 

Just keep writing. get to know other writers…bloggers. Spend a couple of hours a week reading some posts at Copyblogger.com

That's what I did.

And still do.

 

From New Blogger to New Franchise Business Writer

                                                             CSU

 

I've been meaning to share this with you ever since Wiley Publishing approached me about writing a much-needed franchise book.

Those of you who know me probably wouldn't think of me as someone who's not confident. I do consider myself confident about a few of my abilities.

But…

I'm not really very confident about my grammatical skills. They're certainly better than they were 6 years ago or so, when I started doing more and more business writing, but they're not where I want them to be.

 

I have a very good reason for my lack of grammatical confidence;

 

I didn't graduate from college.

 

I attended Cleveland State University for a couple of semesters, but didn't apply myself. At all.

I kind of drifted from class to class. Which is in line with the disease I happen to have.

 

Don't Feel Sorry for Me

 

Just buy my franchise book when it hits the shelves in December. Or, pre-order it.

Kidding. Don't buy my book. Kidding again.

 

Anyway…

 

I feel that my writing skills have improved over the years. I think I read on Copyblogger.com that in order to become a better writer, one should just write more.

So, I did.

I write articles about the franchise business in lots of different places. I guess that if I wasn't at least an average writer, I would probably be excluded from contributing.

 

So, now you know.

 

 

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Cleveland Blogger Convinces Me To Start Blogging

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It's all George's fault. Totally.

 

(George Nemeth)

 

I started reading what George had to say on Brewed Fresh Daily,  one of the first real blogs in Cleveland. BFD was (and still is) a blog that presents pertinent information regarding the economic climate in Cleveland, Ohio. Economic development is the real focus of BFD, and since I was a part of that scene, I started reading it "daily."

I started to add a comment or two, and George and I had a few interesting discussions around the general economic climate in Cleveland.

I wanted to meet him for coffee, and discuss some ideas I had, including starting up my own blog.

George agreed, and we met one morning, (2006) in the Collinwood area of Cleveland.

He told me in no uncertain terms that starting a blog would really help me in a couple of ways.

 

1. I would be able to gain credibility

2. I could start to extend my reach

3. I'd be one of the first to blog about franchising

4. I would be way ahead of the curve

 

G was right about all four.

 

Having one of the first franchise blogs around was a little lonely at first. The top question asked of me at the time was this one;

 

"Joel, what's a blog?"

 

Here's my 1st blog post (March, 2006)

 

My current franchise blog looks a little different, and so do I.

 

Without George's encouragement, I may have never had the opportunity to write my franchise book.

 

If you don't have a blog, you're missing opportunities.

 

If you would like to start one, you'll need a host that allows you to get access to the free WordPress.org blog set-up tools.

 

I use Dreamhost. (Affiliate link)

 

 

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An Email From Wiley Publishing

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This is the email I received from Wiley Publishing;

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Hi, Joel.

I'm the editor of David Siteman Garland's new book. Thank you for the awesome review; David is a gem author.

The review brought me to your website; you have great ideas and a solid position. I would love to talk with you about possible publishing opportunities. Your message would indeed resonate with a wide and eager audience of budding entrepreneurs.

If you're not interested, please excuse the query. Again, thanks for the love on David's book. I look forward to connecting with you.

Best,

Lauren Lynch

 

Here's my review of David's book.

 

That's how it started. Well, not exactly. It actually started 6 years ago, when I decided to start "blogging."

It, being the writing of a new book on franchise ownership…my take on the proper steps that people interested in becoming franchise owners need to take to lower their risk, while at the same time, increasing their chances of success.

 

The letter from Lauren over at Wiley came as a surprise. (Well, kind of.)

 

You see, I had been preparing for it. That's right; the more I started sharing my expertise, tips, and even some rather strong opinions on franchising, the more I realized that I was onto something.  Being one of the first ones to create a franchise blog helped position me as  "a guy to follow."  Here is my first-ever blog post, in March of 2006.

I did have to be convinced to do it, though. A fellow Clevelander by the name of George Nemeth helped to do that.

I'll share what George Nemeth told me in my next post. George changed everything for me. (Thanks, G.)

 

 

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