- Aaron Cashdollar
Buying a franchise is a significant commitment affecting you financially and routinely.
585-802-0132
April 2023
Buying a franchise is a major commitment affecting you
financially as well as what you will do each day. The proper
assessments will help to decide if a franchise is right for you and
if so, what franchise model would be best suited for you.
Consider these factors:
The Cost of a Franchise.
A financial assessment is critical to determine your budget if you
qualify for funding, and what funding options are available to
you. We work with funding experts that specialize in funding
franchises. A franchise will often state the total investment range
needed which will include the estimated working capital needed
to get your business started.
Your Need for Income.
Do the research to verify the franchise will provide the income
you need and want. Do you have savings or another source of
income to support your household until the franchise becomes
profitable? Is one location sufficient to meet your income goals
or do you need multiple locations? This research is absolutely
critical and one of the significant benefits when exploring the
franchise model.
Your Abilities.
A personal assessment will help to evaluate what type of
business owner you want to be. We explore what business
model that is best suited for you based on your skill set.
Examples of this would be your role as an owner, any special skill
sets that may be required, your likes/dislikes, the quantity and
types of employees, and if a customer comes to you or you go to
the customer.
Whether you are a natural entrepreneur who has owned
multiple businesses or someone who wants to explore franchise
ownership for the first time, let us save you time and focus on
the right fit for you. We know how to franchise!
Being Proactive Vs Reactive.
With more financial stresses weighing on
businesses, the protection of a business’s
investments have become that much more
important. When neglected, payment will
deteriorate – causing astronomical repair costs and
significant liability risks. This proactive versus
the reactive approach allows owners and property
managers to treat pavement as a true asset.
EverLine Coatings also offers a Preventative
Pavement Maintenance Program to maximize the
ROI, while increasing the life of the asphalt up to
100% – doubling the lifetime value.
Drew Brees: Franchises are small biz, too...
Drew Brees has exited one arena (football) to enter
another. The retired signal caller, who won a Super
Bowl with the New Orleans Saints, works with the
International Franchise Association. “A major
benefit of being part of a franchise system is that
you have a support structure for whatever you
need, which is different from a mom-and-pop
operation where you’re on your own,” Brees tells
Axios. “You don’t have a support network to set you up for success.”
Franchising with a Purpose.
Purpose-driven businesses can be a motivating factor when it comes to deciding what franchise
business is best for you. All the reasons why you want to be a business owner fall into two main
motivating factors:
Financial
Lifestyle
The lifestyle reasons are often related to wanting to take control of your own destiny, making a difference, and giving back. This can be for your family, your community, or our world.
As we celebrate Earth Day this month, know that there are franchises that look for owners who are motivated by making a difference and giving back.
Let us help you navigate this process, understand what motivates you, and show you the franchise companies in alignment with your true purpose.