HIRE YOURSELF Blog

No Sales Experience? Eliminate Your Fears and Doubts About Franchise Ownership

Posted by HIRE YOURSELF on Jan 14, 2020 8:00:00 AM

 

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Topics: Mindset, Franchise, entrepreneurship

The 3 Factors That Will Determine If You Can Afford A Franchise

Posted by HIRE YOURSELF on Oct 19, 2018 1:06:00 PM

The leap from investigating a franchise to buying one requires a reality check from any potential investor. Franchise loans are out there, but getting selected as a franchisee has different requirements. There are three main components that will determine if you are financially solvent and solid enough to buy into the franchise you choose: your net worth, your liquid capital, and your credit history.

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Topics: Funding, Franchise, entrepreneurship

Before Owning a Franchise: The Ultimate Franchise Business Plan Guide

Posted by Pete Gilfillan on Oct 16, 2018 12:15:00 PM

Putting together a solid business plan before you file any applications or sit down with a finance company, a loan officer—even with a family member—will help you make a clear, compelling case for funding. A plan is the best way to have a clear path and direction when owning a franchise.

Your business plan should include each of these basic components if you want to make sure your franchise management is solid.

Podcast Episode:  How You Can Achieve Success Through Powerful Goals

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Topics: Franchise, entrepreneurship

Which Pays More Income? Executive Salary or Franchise Ownership

Posted by Nat Truitt on Oct 16, 2018 12:00:00 PM

As the owner of a startup business, you’re going to start out spending working capital—money you’ve set aside to live on and run your business with until it becomes profitable. In time, you can expect to reach a point where your business breaks even, when you’ll have more cash coming in than going out. When that happens, the business becomes self-sustaining.

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Topics: Franchise, How To Build Wealth, entrepreneurship

Ask Yourself These 6 Questions Before Starting A Franchise

Posted by HIRE YOURSELF on Oct 2, 2018 11:36:00 AM

Thomas Edison once wrote, “If we all did the things we are capable of, we would astound ourselves.” The skills and strengths you bring to business can help determine if entrepreneurship is right for you. We all have talents and abilities that stand out. Having a firm handle on yours will help you make smart choices as you look at investments and lower your levels of fear and anxiety. Consider the following questions to help assess your own skills and strengths in franchise entrepreneurship:

Podcast Episode: What are the hallmarks of entrepreneurship?
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Topics: Franchise, entrepreneurship

Start Small or Go Big: 4 Models for Owning a Franchise

Posted by Pete Gilfillan on Jul 16, 2018 11:50:00 AM

Classic comedian Milton Berle once quipped, “If opportunity doesn’t knock, build a door.” In a nutshell, that’s what many aspiring entrepreneurs are looking to do. Owning a franchise is a great way to start the process!

Becoming an entrepreneur through franchising offers many different ways to build that door, depending on whether you want to gradually build a bridge from your corporate job while still working or whether you’re ready to go all-in right away.

Quick Download: Finding the Right Franchise Quick Sheet

For example, I recently worked with a candidate who already owns a business in one industry. He wanted to diversify his investments, and told me he could set aside 10 to 15 hours a week to give to a second business. We were able to find a perfect opportunity for him in a fitness franchise—one that allowed him to add his new business to his existing schedule, rather than trade one for the other.

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Topics: Franchise, entrepreneurship