Franchise Blog

Online cookbooks are one of my favorite ancillary benefits of today’s current technology. I’ve never been great in the kitchen, but once I found that I could find step-by-step instructions for making all kinds of food, I no longer had to worry about my own pitiful culinary sense, because someone had already done the hard work for me, and all I had to do was follow their lead. If everything in life were like that, this would be such an easier place to live, unfortunately, not everything in life is so easy. And though I’m sorry to say it, one of the most dauntingly non-recipe things in life is career: no one can tell you exactly what career is right for you and what steps you’ll have to go through to get there. And franchise opportunities aren’t any different; there are so many variables to every individual person that no one is capable of detailing the best experience for everyone beforehand. What I can offer, however, are some tips for helping you figure it out for yourself.

One of the most important things to take into consideration when piecing together your personal franchise plan is who you are. And because a full analysis of that will take us each a lifetime, let’s start broad. Aside from gender, one of the broadest personality classifications is the difference between introvert and extrovert, the first being people who are fueled by being with others, and the second being those of us who are energized by being alone. What you naturally are will help determine exactly what kind of business opportunity you should be looking for.

For example, knowing where you get your energy will help determine whether a home-based business or a franchise with a public storefront and a host of other employees will be a better environment for you. The difference, in this way, between a HomeVestors work-at-home operation and a Maui Wowi Hawaiian Coffees & Smoothies shop is huge. At the one, you will spend hours upon hours by yourself, in your home, making phone calls, studying housing market trends, shopping for real-estate, posting advertisements, and potentially not seeing another human being for days on end, which, for some of us, sounds like the ultimate vacation. At the other business, every day will be out of the house, dealing with a handful of employees in close proximity and line after line of guests looking for a tasty treat and personal service. If you’re like most people, one of these prospects will be very appealing and the other may sound like a nightmare.

Let’s try another angle: the difference between hands-on work with the public and the administration of people who do that frontline work. A franchisee with 1-800-905-GEEK has a completely different business role than an owner of a One Hour Parties small business, mainly because the 1-800-905-GEEK owner is primarily responsible for maintaining operations and receiving calls from clients, whom his employees then go out to help. In contrast, the One Hour Parties owner is actually the person at the client’s office, arranging the event and schmoozing with partygoers. Both are serving the public and corporate world, but their positions in doing so are utterly different, requiring two separate kinds of people for optimum success.

There’s one more way to look at this to help pick out whether you’re suited for a more introvert- or extrovert-ready business opportunity. Are you a bigger fan of people or projects? A Snap-On Tools franchisee is responsible for one thing: selling tools, which requires a high degree of interpersonal contact and an outgoing spirit, generally traits of an extrovert. Not that introverts are naturally mean or unlikable, quite the contrary, but after hours and days of sales, some get worn down. In contrast to this business model, whose success is built on personal interaction, the model of a franchise like Sure Step involves communication with the client, but the majority of the actual work revolves around physical labor. Some franchisees would much rather work on getting a task done than working directly with clients all day. What about you?

In the end, most of us are neither wholly introvert nor wholly extrovert, and the franchise business right you, whether work-from-home, project-based, or otherwise, is going to reflect a very specific combination of human relations and independence natural to your personality. Sit and spend some time thinking all these options through and then investigate in detail the franchises that sound best for you.

Find more franchises including food franchises and low cost franchises at Franchise Gator

If you intend to be a franchisee there are a couple of things you may want to find out. You would want to know how profitable the business is and what your target market is. It would be ideal to get the business that would best suit the demographic that you are more comfortable with.

Being a franchisee would often entail that you would shell out an initial franchise fee to start your business and continue to operate. Now this need not be a big worry for you since you are most likely to be able to get back the initial cost of acquiring the franchise in a few months depending on how well you handle the business. You must be creative enough and be resourceful in getting those clients through your doors or to start doing business with you as soon as possible. One fast way to get customers is through the internet. There is a large population of individuals who go through the internet just to surf and look at different things. Now it would be wise to take advantage of this and advertise about your business. Your franchiser may be a well known company and have many branches available; you would want to be known as well as one of those branches offering the products. You can target your local community through the internet by providing them information that you are operating a franchise.

As a franchisee it is your responsibility to make the business flourish. You would need to make use of all your network and contacts to do this and the internet is a great place for you to spread the word fast.

On face value, buying a franchise can seem like a sure way of taking charge of your financial future and earning a healthy profit, with the added bonus of becoming your own boss. Proven business models, established brand names, popular products and access to training programs form a comprehensive framework which can leave potential franchisees asking – How could I go wrong?

While the framework often provides great assistance for owners to maximise their initial investment, there are a number of key factors that must be considered to ensure a franchise operation takes full advantage of the selected business model and eventually turns in a healthy profit for its owners. Some of these include:

• capitalisation – avoiding the trap of under-capitalising the business;

• getting the right fit – choosing a franchise system that is aligned with the interests and passions of a franchisee;

• undertaking due diligence – thoroughly researching the investment and preparing a detailed business plan that will help to secure the required funding and;

• exit strategies – considering where, when and how the business can be sold.

Taking the time to understand the franchise system is crucial. Franchisees must be honest and realistic in assessing opportunities and make sure that they select a system that suits their lifestyle and aligns with their interests.

For example, a person averse to early mornings should perhaps avoid investing in a bakery franchise because if the baker can’t make it into work, they will have to stand in. However to others this is not a problem as the thought of an early start is attractive. Interests, passions and background should all be considered when researching the options. Finding the right fit is crucial to the success of the business and ultimately to maximise the return on investment.

Once the best fit has been found, franchisees also need to be realistic about the level of risk they are prepared to take. Higher risk can potentially reap higher returns, but the franchisee must be comfortable and willing to accept the challenges this may bring.

Choosing to buy a brand-new store, for example, may be considered a higher risk option than investing into one already established with proven cash flows. Whilst it may be cheaper to purchase, you will need to build up the customer base and there are no personal relationships with suppliers and no proven return on investment to track against. There are benefits and pitfalls with both options, neither right nor wrong – it ultimately depends on the level of risk that the franchisee and their financier is prepared to take.

A successful franchise is always one that has been fully researched, diligently planned and properly financed from the outset. Under capitalisation is one of the easiest and most fatal mistakes a new franchisee can make and generally stems from unrealistic, incomplete or misguided planning.

To help avoid falling into the trap of undercapitalising the business, a prospective franchisee would be well advised to seek out the services of an experienced accountant or financial advisor with knowledge of the specific franchising system and an understanding of its working capital structure. Getting the right advice up front will help to ensure a smooth transaction and start-up process, setting the business up for a successful launch and potentially healthy returns. The franchise system will also encourage this even though many also have consultants for system specific advice.

The right accountant or financial advisor with specific franchising experience will be invaluable in the due diligence process. They can help a new franchisee produce realistic and viable business plans, reducing the chance of initial under-capitalisation. They can also offer invaluable insights into the industry, making even first-time franchisees appear well versed and sophisticated to the bank or financier – vital when trying to secure funding.

It really can’t be stressed enough how crucial this initial research and planning phase is for a prospective franchisee. Put simply, failing to plan effectively and under-capitalising the business from the outset will lead to a slowing 12 of the cash flow cycle, a short fall in projected sales and limited return on investment. Once these factors come in to play, it’s an uphill battle to get the business back on a level ground.

Unless a franchisee is able to finance the franchise with his or her own funds, a bank or financier must be engaged to arrange a loan. In order to secure the financing required, a well researched, comprehensive business plan must be prepared, including goals and objectives, market position, business strategies and projected turnover.

This document shouldn’t just be viewed as a means to secure financing. A business plan is a blueprint for the business and should be a regularly updated working document that enables franchisees to identify the strengths and weakness of their business. The more detailed this plan is and the more knowledgeable franchisees are of their selected system and store, the more likely they are to secure the financing they are seeking.

If the bank or financier agrees to lend only part of the requested amount, it is vital to step back and reassess the viability of the entire business plan. There will be valid reasons why they are agreeing to only partial funding and it is crucial to understand what those are to ensure they are addressed and amended. Without making a solid case about the implications of under-funding to your banker or financier and simply ploughing ahead with too little initial capital, the likelihood of running into financial problems further down the road is almost guaranteed.

Also, always be up-front with your banker or lender. If the business plan requires a loan of $250,000 for the franchise to succeed, either secure $250,000 or re-plan. Failure to do so can make a moderately successful business look like a failing one when compared back to its original business plan.

The other major factor to consider, and one that is frequently ignored, is the exit strategy for the business. Franchise agreements are generally for a specified fixed-term and having a plan about how to exit the business will not only provide additional reassurance to the bank or financer that the business plan has been carefully considered, but also an exit plan of how and when to sell the business will ensure that the eventual returns are maximised.

It is important to remember that buying into a franchise system is a lifestyle change and will be very different to a typical PAYE job. As the franchise typically has a finite life expectancy it is in the interest of the franchisee to consider all aspects of the running of and ultimately the selling of the business. These not only include keeping a current and thorough set of financial records, but also giving some thought to not only where and when the franchisee will sell, but also how. It doesn’t need to be fully scoped, but consideration of an exit strategy from the outset is strongly recommended.

Ultimately, reaping a good return on investment underpins the running of a franchise. With the right due diligence and a well thought out and thorough business plan capturing as much information as possible about the site itself, goals and objectives, business strategies, projections and exit plans, prospective franchisees should be able to secure the required funding and ultimately have the foundations to run a prosperous business.

Franchise specialists will be vital throughout every phase of the set up and a franchise specialist banker can help to ease the process.

This article appeared in Issue 2#1 (Nov/Dec 2007) of Business Franchise Australia & New Zealand

It is an indisputable fact that the economy is in a mess. If you think 2 million job losses in the US and 1.9 million unemployed in the UK is bad, how about the 26 million migrant worker jobs lost in China?

Large multinationals are shedding jobs at such an alarming rate that panic seems to be setting in and nobody dares to predict when the turn around will come. But in contrast look at many franchisors. which are showing the purpose of spirit in which they were founded and still have the will and the hard-headed thinking-on-your-feet to not only survive, but also excel. A case in point is Dunkin Donuts which has just announced a $100 million dollar advertising campaign, which is an increase in over 5% from 2008. You can almost hear the cheering from their franchisees! This is yet another example of the advantage of the franchise model.

Collectively the franchisees of Dunkin’ Donuts are about to ramp up their advertising, increase sales, save the jobs of their employees, therefore boosting morale and making the place not only a better place to work, but also a better place come in and relax with a coffee and donut. At the risk of laboring the point, let’s go over that again. Although ostensibly it is the franchisor who is responsible for the coming advertising campaign, it is also true that it is the franchisees who are doing it collectively. So in essence you have 5,769 coffee and donut stores in the US banding together to promote their brand, service and products.

How can a little mom and pop coffee and donut shop ever do that? The answer is, they can’t. No matter how good their shop is, or their coffee, or their donuts, or their friendly customer relations. Although it doesn’t stop them, of course from one day turning their business model into a franchise and eventually competing with Dunkin’ Donuts. Here is another example of what a creative franchisor can do.

Burger King has obviously put considerable resources into conceiving, conceptualizing, designing, testing and launching their new “Whopper bar”. It has a “Whopper Topper” area to encourage customers to customize their burger to suit their taste. It is a excellent concept, I think and it reminds me a little of the McDonald’s Cafe. Leveraging on the brand name and the fact that you already have plenty of customers, some of whom might want a slightly different experience that the normal McDonalds.

So as you see, times are tough, but many franchisers are not letting that slow them down as they wheel out better products, entice more customers and provide a rewarding and worthwhile business for their franchisees and their employees.

Michael Burdett is a frequent contributor to Every Franchise & Business Opportunity http://www.everyfranchise.com

Let’s face the reality of the times. The US government has officially admitted to over 2 million jobs lost in our current economy. If this is true, what does it mean besides the obvious for the potential of buying a new business or franchise opportunity?

The fact is that times like this never last forever and right now may just be a perfect time to take the initiative to investigate the potential of owning your own business whether you are affected by the downsizing or not.

Interest rates are lower than usual and with a new Presidency and administration right around the corner, the time might be better than believed to start a new business.

As the year unfolds, we are going to be keeping a close eye on the franchise scenario and doing our best to keep you informed about franchise opportunities that may be worth learning more about.

While the economic downturn ripples through the US economy, numerous Franchisers are looking at the challenging business landscape and ramping up ad buys.

Take Dunkin’ Donuts for example. They are launching a $100M ad campaign that represents an increase of more than 5% over 2008. I believe that what they are saying is that we are going to fight even harder to maintain and even increase market share.

In so called “normal times” a 5% increase would also be considered normal. In these times of relative uncertainty, 5% sends a definite message. It speaks to a bullish position on the market and is exciting to see taking place. Remember that even though Dunkin’ Donuts has 5,769 U.S. stores that are relatively well positioned, they are right up there on the front line doing what they do best bringing in consumers for coffee and donuts.

The same levels of ad expenditures can be seen across the board in some areas and demonstrates that many Franchisers share the same thinking i.e. yes, it is going to be a challenging year but we are going to do our best to maintain and surpass past performance.

I say that is what we need more of. A positive attitude, a smart business plan and perseverance can really reap big rewards even when the environment is less than optimal.

For more franchising information about franchise, franchises, buy a franchise, franchise opportunities, franchises for sale, franchise directory visit http://www.franchiseinteractive.com/.

As you continue on your journey in purchasing a franchise, there are a number of factors you will need to know. Of the many, one that rises to the top is understanding the demand for your targeted franchises product or service. Knowing this one element, will help you avoid common pitfalls

From the jump, you should be able to assess the level of demand for the franchisor’s product or service within your specific and general area of operation. The demand should be adequate, that is, the number of people willing and able to buy must be there in sufficient quantities. Sound obvious? Most beginning business seekers fail to understand this basic principle.

In addition to sensing the level of demand, you should also consider its nature. Is it seasonal, cyclical or stable? Businesses with seasonal demand will lead to forecasting problems and possibly cash flow issues, especially during the off-peak season. Therefore, if you require a dependable forecast, then seek a franchise with a stable demand.

Finally you should consider whether the demand for the franchisor’s product is short-term (i.e. a fad) or whether it is sustainable over the long term. Long term demand is preferable since it assures the business of continuity. There have been far too many stories in the news about the latest “fad” franchises closing it’s doors. Be wise, and choose a franchise with long term demand.

Understanding the demand for a product or service is crucial. Keeping this fact in mind while seeking a franchise will help mitigate your risks, and eventually add to your business success.

Rob Bennett is a experienced franchise consultant for FranFinders, LLC.
FranFinders, LLC is a no-fee, franchise consulting company that provides guidance through the entire franchise purchasing process. Based in Atlanta, GA, FranFinders has help clients nation-wide with their dreams of owning their own business.
http://www.franfinders.com

Without sufficient energy given to marketing your new franchise, your financial returns will be no better than your fellow franchisees. If your rewards are less than the average, it is unlikely you will be able to get ahead.

One of the few levers you may be able to pull is marketing, usually represented by the four Ps of price, product, promotion, and place. For most franchisees, price will normally be set by your franchisor. Similarly, your degree of control over product selection will also probably be highly constrained. I have already spoken about the significance of place, or location, in Lesson 1. It remains a hugely important variable in the success or failure of your business.

This leaves promotion. While I am compelled to contribute a fixed percentage of revenue to a central advertising fund, local marketing efforts are pretty much up to me. This may also be true for you.

I’ve tried several promotional strategies. Around this time last year, I ran an Australia Day promotion coinciding with our national holiday. I had signs made for the store and distributed almost 20,000 brochures in the local area. It was a dud. I gave away a 20 percent discount only for a short-term loss of profit. Long-term benefits to the franchise through greater local recognition remain unclear.

Next, I attempted to win a competition run by one of my suppliers for the highest increase in sales for their travel books. While my sales grew by almost 400 percent in the month of the competition, I was merely a runner-up. One store increased their sales by more than 1,000 percent, although I remain intrigued by the reality that their equivalent sales of the same books in the previous years must have been close to zero. In other words, I’ve learnt that while I may be highly motivated and strongly focused to win such competitions, there are others in the franchise system whose knowledge about the keys to victory is based on years of ensuring that they stay in front.

I have tried hard to encourage more of the book spend among employees in the local business district to remain in the area. I created a local loyalty card that complimented the loyalty program of my franchisor. In particular, I thought that this would appeal to local school teachers and similar educators who tend to buy more books than others from different professions. Again, while incremental sales have undoubtedly been enhanced, this strategy has not provided the more significant improvements I had sought.

Arguably, the bargain-hunting book buyer is a different animal to the normal member of the book buying family. For this reason, I have held several sales in the surrounding area. While this strategy worked relatively well prior to Christmas, the most important retailing period of the year, it has been less successful since that time. One attempt cost me thousands of dollars after I chose a rotten location. Another was lucky to break even.

The big wahu of all promotional strategies was the exclusive deal I made to sell books at the three Donald Trump events scheduled for various states in Australia last November. I spent weeks to win this deal, subsequently signing an exclusive deal with the local promoter. I paid him $7,500 for the privilege, and ordered more than 4,000 books to sell at the events. I was sure I had a huge winner on my hands. In addition, I was negotiating with Trump University to sell their range of Trump wealth-creation products at these events.

When Wall Street tanked, ticket sales stalled. The promoter went bust, taking my money with him. Donald Trump had been paid almost $2 million in fees to attend, however the promoter’s inability to come up with the final payment caused Trump to cancel his visit and pocket the money. I am but one of the 650 creditors of this disaster.

Given that I tend to have the perseverance of a bulldog, I actually attempted to resurrect the tour, offering to sell the tickets at more realistic prices, allow those who had already bought tickets to come for free, and to split any profits arising from the tour with Trump, suggesting that his share go to charity. While I didn’t know if I would make any money myself, I truly wanted to do something for those folks who’d already paid an average of $350 for their tickets. It would also have been nice to sell some of the thousands of books I’d ordered.

So, there you have it. Promotional strategies from the realistic to the ridiculous. It remains the nature of marketing that we must, to paraphrase Built to Last, try a lot of stuff and keep what works. In the absence of the kinds of marketing research available to executives in large corporations, franchisees must feel their way cautiously along the dark promotional path.

This is especially challenging during tough times, since marketing dollars are one of the few costs over which we have some semblance of control. The overwhelming temptation is to back off and spend as little as possible. While I wouldn’t recommend spending money that you cannot afford to lose, both new and existing franchisees must promote their businesses frequently and with gusto. Set your budget at the outset, keep thinking creatively, and look around for new approaches that may provide a competitive advantage for your franchise.

Dr Dave Poole owns a franchised retail bookstore in Sydney, Australia. He is also a popular corporate speaker and has taught leadership and corporate strategy at business schools in Australia, the United States, and China. Co-author of two popular management books, Dave Poole was recently the successful CEO of a major industry association for the real estate development sector. His speaking topics include “Making Your Small Business Work in Tough Times”, “Abundance Leadership”, and “Communicating Passionately and Persuasively.” He holds a bachelors degree in marketing, an MBA and masters degree in management, and PhD from the School of Management, University of Technology, Sydney. For more information, please see http://www.stratleadership.com

Franchise businesses are successful for one reason: they have a proven system in place. That is why franchise businesses have a failure rate of only 25% within the first five years, and traditional businesses have a failure rate of about 80%. Quite a difference. Other facts according to ‘The E-Myth’ are: in the year 2000 there were 320,000 franchised businesses in 75 industries. Franchises produce $1 trillion in sales every year. McDonald’s in particular is a $40 billion a year franchise with 28,707 restaurants worldwide that serves 43 million people a day.

The E-Myth states that the franchise, or turn-key business, is a way of running a business that ‘has the power to dramatically transform a business from a condition of chaos and discord to a condition of order, excitement and continuous growth.’ Why is this? It’s because a franchise is a system-dependent business, not a person-dependent business. This means that as long as a person can simply follow directions, the business will most likely be a success. Ray Kroc was the first to realize this, and from this realization McDonald’s was born. Since McDonald’s is the most popular franchise recognized by people, and also the most successful, we will concentrate on the reasons that have made McDonald’s ‘the best’ and what Ray Kroc did to create that model.

Ray Kroc’s story begins with him walking into a hamburger stand with the intention of selling milkshake machines to the owners. What ended up happening was Ray observed a hamburger stand that ran like a ’swiss watch.’ Hamburgers were produced ‘quickly, efficiently, inexpensively and identically.’ The method allowed anyone to be able to do it. He watched as high school kids efficiently and happily served customer after customer with minimal supervision from the owners. Ray convinced the brothers to let him franchise their system and 12 years later bought them out and created what is known today as McDonald’s.

Even though franchises have been around for about 100 years, Ray Kroc’s creation of McDonald’s changed what a franchise was. A franchise used to be simply the right to sell a name brand product for a company and make some of the profit yourself. Ray changed that by making a franchise not only the right to sell the products, but also the right to use the proven system created for distributing the product. Ray’s beliefs were different from original business owners. They believed that the name brand that you sell is what makes the business successful. Ray believed that it was the ’system’ you use to sell a product that makes a business successful. In other words, he was ’selling’ McDonald’s itself, not just hamburgers. In Ray’s opinion, a person looking to start a business didn’t care if they were selling hamburgers or not, all they cared about was ‘does the business work and make money.’

From that point on, franchising became a revolution. Franchise after franchise was opened, not only McDonald’s, and not only in the food industry, but in almost every kind of industry in existence. Starting a business became as simple as thinking of a business you want, then finding a franchise that has created a proven system for running that kind of business.

David Eigenfeld is a top internet marketing and home business coach, working with people from around the world. Most recently David has partnered up with other like minded business mentors teaching others how to achieve their goals, dreams and aspirations. To learn more about David and his team of mentors visit him at http://link2profits.com.

Deb Shugg pulled herself back from illness and despair to become founder and director of The Award Bookkeeping Company and she is now ready to talk openly about her life.

There was a time when Deb Shugg covered up her past. For a long time she would just tell people that she needed a change from corporate life and decided to start a bookkeeping business, working from home. It was a partial truth that glossed over a story of suffering and guilt.

“There was a time in my life when I couldn’t leave my own front door. I was such a broken person that I really didn’t think that life was worth living.”

As a child, Deb was subject to both violence and sexual abuse both from within her family and from a stranger who forced his way into the house while she was at home by herself. Deb’s mother, who worked to make up for the excesses of a violent and alcoholic husband, had no choice but leave her children alone.

“There was not enough money, not enough food, not enough of anything but I guess I could always see there was something more to life than whatever circumstances you’re in. There is always a bit more to it than where you are at.”

Later as a young mother herself, Deb worked full-time but found that it was compromising the parental care and involvement she had promised herself she would provide for her own children. She didn’t want to drop them off early in the morning to have breakfast with someone else, then pick them up at teatime just in time for a quick take-away meal and then bed. She wanted a family where everyone was there to care for everyone else.

The divided loyalties became too much, the past caught up with her and anxiety took a debilitating hold.

Despite the inner turmoil her goals in life hadn’t really changed, she still wanted to earn a living and to care for her family, but she no longer enjoyed the freedom that others, who have never suffered agoraphobia, take for granted.

Yet, she found that her childhood experiences had given her determination as well as pain.

“I won’t let this keep me here.”

And with that thought she used the skills she had in a new direction and started a home business working as a bookkeeper. She just focused on meeting her immediate needs – to earn an income and to care for her family – as best as she could at that time.

“I had been earning an income a long time until everything caught up with me and so I decided I’d start my own home-based business – I had the skills – and I wouldn’t have to go anywhere.”

As the business grew so did her confidence and more and more she was able to leave home to visit clients when they requested it. It was a challenge, and there was no single turning point in her recovery, just a gradual return to the world outside the four walls that had contained her.

In time, she was able to seize the opportunities that the introduction of GST brought and expand the business. Franchising saw the company spread throughout Australia but Deb maintained a steady, controlled pace, not compromising the care of her children, the quality of her work or the importance of her franchisees.

“Really, what my whole management style is based on is ‘we are going to do it one step at a time’. We are going to do it with one foot in front of the other. We are going to see the big picture – where we want to go. But all we are going to focus on for today is just getting today’s things done and understand that this one thing is going to take us to the next thing.

“It is not just in business, anything you have got to confront is really a day to day thing.”

Firstly working as a bookkeeper herself, and now through her franchise, Deb is helping others making their way in the business world.

“Bookkeeping isn’t an industry; it is a profession and a bad bookkeeper can do as much damage to a business as bad management.

I am able to give back to the people who are looking for a bigger picture, who are looking for something else. What I didn’t want to do was generate a business that had lots of employees who were just stuck in that same mould. What I wanted to do was encourage people, and women in particular, to actually look outside their circumstances.”

Although she measures the success of her business financially, Deb understands that flexibility can be a precious gift to those whose role includes the care and support of a family.

“We are not a franchise system where pressure is on franchisees every minute of the day to be earning lots of money. The pressure is on the franchisee to get the most out of their business so if that means flexibility then that’s what we are going to be helping them focus on.

“As much as we like to think that we’ve come a long way in terms of equality, a lot of family issues are still left to the woman in the household to manage, especially children and elderly parents. Those things are still seen as a woman’s role in a lot of aspects and you need to be able to fit those in and you need to be able to still make a reasonable income.”

As her children have grown, Deb has been able to commit more time to growing the business and her husband, Harold, has shared the role of caring for the children.

Harold is now also sharing her business success, running franchise development and franchisee training. As an insolvency expert, his experience with failed and salvaged businesses means he is able to help his franchisees build a solid business and avoid the pitfalls that can lead to failure.

Their close working association is successful because each brings different strengths to the business. “We are not here to put labels on people and fit them in boxes and to play politics with that. We’re here to be cooperative in the outcomes we get and everybody in the organisation is part of that.”

With over 45 franchisees nationally, Deb now travels the country and she is well enough to travel with ease. Her children are now in their twenties and Deb is allowing the expansion bug to bite. As well as furthering her national expansion she is looking to build opportunities in America. Deb believes the complex taxation environment is suited to a highly trained and professional organisation like The Award Bookkeeping Company.

The prospect of travelling around the globe holds little fear for her now and, at 43, Deb is proud of her achievements. She hopes that others will be inspired by her story.

“It is a case of trying to empower people and to let them know it is not a forever thing. It doesn’t matter what circumstances you are in today – it is not forever.”

This article appeared in Issue 1#6 (Sept/Oct 2007) of Business Franchise Australia & New Zealand – http://www.businessfranchiseaustralia.com.au

Every time you turn on the news, log in on the computer or open the newspaper, a major company is laying off 5,000 plus employees. Franchising has always soared when jobs are lost and no new ones are created. The current economic situation surrounding us is the worst in the history of the United States. It is now impacting the “global economy”. When we are having tough economic times no one is spared in the global market.

So why are franchise companies stuck in neutral, during what should be a good market for new franchisees? One of the major reasons is the lack of lenders (funding). First of all, I believe the consolidation of the banking industry is nearing an end. This was and is a huge problem, and the primary reason our government is now getting into the act and looking at taking over some of this bad debt. If you are the US government can you afford to let the banking system collapse? The answer is “no”. They can and will regulate and create better guidelines. For those in the banking system that have weathered the storm, how long can you stay out of your primary business which is lending? If you are one of the few that is lending you have free choice over the risk factor.

We are already starting to see the private sector push some funds into the lending market. Where else can you find a safe haven for your money? If your funds are with a lender that has no financial issues and has solid lending practices it is a better bet than the stock market. I have personally seen two lending sources throw in towel and recently receive “new sources” for funding and come back to life. This is a good sign!

If you have an existing business that you feel can become a good franchise concept, get the ball rolling now. Put all your information together and position yourself during the present times so you can pull the trigger six to nine months out. Someone once said, it’s not always the idea, but the timing that matters the most.

Need help with your concept?

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